A bill to amend the Internal Revenue Code of 1954 to increase the estate tax exemption and to increase the lifetime gift tax exemption.
Estate and Gift Tax Act - Increases the estate tax exemption, under the Internal Revenue Code, to $120,000 in the case of the estate of a decedent dying after December 31, 1979.
Increases the specific exemption for gift tax to $60,000.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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