HR 1453 · 97th Congress · Taxation

Estate and Gift Tax Act of 1981

Introduced 1981-01-28· Sponsored by Rep. Volkmer, Harold L. [D-MO-9]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: See H.R.4242.(1981-08-04)

Plain Language Summary

[AI summary unavailable — showing source text] Estate and Gift Tax Act of 1981 - Amends the Internal Revenue Code to increase the unified credits against the estate and gift taxes from $47,000 to $155,800. Removes the provisions for phasing in such credits. Eliminates the limitation on the amount of the estate and gift tax marital deduction. Increases the annual gift tax exclusion from $3,000 to $6,000.…

Summarized by Claude AI · Non-partisan · For informational purposes only