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Tax Hikes on Rich Loom If Treasury Revives Hard Look at Estates

  • Estate tax rules on valuation discounts may get second life
  • Divided Senate gives administration narrow margin to pass legislation
  • Read This Next: Portfolio, BNA Pick, Additional Analysis on Estate Tax (Bloomberg Tax Subscription)
A stack of uncut sheets of $20 bills.

A stack of uncut sheets of $20 bills.

Photographer: PAUL J. RICHARDS/AFP

Estate planners are keeping a close eye on the Treasury Department’s agenda, anticipating the possible revival of several regulatory projects shelved by the Trump administration.

Estates, gifts, and trusts were among the regulatory areas significantly cut back under former President Donald Trump—planned projects in that area were reduced to about a quarter of what was included in the Obama administration’s last priority guidance plan.