H.R. 2324 — A bill to amend the Internal Revenue Code of 1954 to increase the annual gift tax exclusion and to clarify the gift tax treatment of certain transfers for consumption.

Summary

Amends the Internal Revenue Code to increase the amount of the annual gift tax exclusion from $3,000 to $10,000. Excludes non-appreciable gifts to minor children (under age 21) and household members for consumption from the gift tax.

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Related Legislation

H.R. 4242Economic Recovery Tax Act of 1981
1981-08-13Became Public Law No: 97-34.
Related

Legislative Actions

1981-03-04
Introduced in House
1981-03-04
Introduced in House
1981-03-04
Referred to House Committee on Ways and Means.
1981-08-04
See H.R.4242.

A bill to amend the Internal Revenue Code of 1954 to increase the annual gift tax exclusion and to clarify the gift tax treatment of certain transfers for consumption.

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