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 1981 - Amends the Internal Revenue Code to increase the unified credit against estate and gift taxes from $47,000 to $155,800. Increases the amount of the annual gift tax exclusion from $3,000 to $6,000.
Became Public Law No: 97-34.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
See H.R.4242.
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