A bill to amend the Internal Revenue Code of 1954 to increase the unified credit against estate and gift taxes so that estates under $500,000 will not be subject to estate tax and to increase the gift tax exclusion from $3,000 to $6,000.
Estate and Gift Tax Act of 1980 - Amends the Internal Revenue Code to: (1) increase from $47,000 to $155,800 the unified credit against the estate and gift tax; and (2) increase from $3,000 to $6,000 the gift tax exclusion.
Referred to House Committee on Ways and Means.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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