Who has to pay the estate tax?

Trump's new bill will permanently shift who owes federal estate tax

Miniature wooden house sitting next to a stack of coins and wooden blocks that say "Tax"
(Image credit: Thana Prasongsin / Getty Images)

The estate tax only applies in select circumstances. But when it does, this tax on the value of a deceased person's estate can result in a sizable bill.

If President Trump's tax-and-spending bill is passed, however, those to whom the estate tax applies could get a permanent break. The new bill would permanently increase the estate tax exemptions that Trump passed in 2017, which were otherwise set to expire by the end of the year, shifting who would owe the federal estate tax.

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Becca Stanek, The Week US

Becca Stanek has worked as an editor and writer in the personal finance space since 2017. She previously served as a deputy editor and later a managing editor overseeing investing and savings content at LendingTree and as an editor at the financial startup SmartAsset, where she focused on retirement- and financial-adviser-related content. Before that, Becca was a staff writer at The Week, primarily contributing to Speed Reads.