Federal Tax Policy | Center for Effective Government

The Charitable Implications of the Estate Tax

The estate tax generates a significant amount of charitable contributions. In 1999, estate tax filers paid approximately $28 billion in gift and estate taxes, and made charitable bequests of nearly $15 billion. The estate tax plus charitable bequests is an important infusion of capital into our society for public benefit. Overall, the combination of bequests and estate/gift tax payments amounts to an annual infusion of $45 billion addressing public and charitable needs.

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State Fact Sheets

State: Number of Estates $3.5m and over: Returns as Percent of Decedents: Average Estate (in millions): Data above prepared by Judy Xanthopoulos, Ph.D., Quantria Strategies, LLC Estate tax returns by size of gross estate are estimates based on IRS public use Federal and State estate tax data, including "Estate Tax Returns Filed in 1999" and “Estate Taxes by State of Residence of Decedent, 1999.” Click here for further explanation

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Frequently Asked Questions About the Estate Tax

Q: Isn’t the estate tax a form of “double taxation?” First people have to pay income tax on earnings and then they pay again when they die because of the estate tax? A considerable portion of most estates are assets that have appreciated during the decedent’s lifetime on which no income taxes have ever been paid, since inheritances are exempt from income tax and capital gains taxes are only paid on assets that are sold or transferred.

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Fact Sheets on the Estate Tax

3 Downloadable Fact Sheets on the Estate Tax -- in PDF format for easy printing: The fact sheets listed below require Adobe Acrobat Reader -- To download the most recent version for free, click here (If you cannot access the files through the links, right-click on the underlined text, click "Save Link As," download to your directory, and open the document in Adobe Acrobat Reader.) About the Estate Tax Frequently Asked Questions About the Estate Tax Charitable Implications of the Estate Tax

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About the Estate Tax

General information about the estate tax. REPEALING THE ESTATE TAX WOULD CREATE A MASSIVE WINDFALL FOR THE COUNTRY’S WEALTHIEST FAMILIES

Only the largest estates are subject to the tax: An estate must exceed $1 million in 2002 for an individual ($2 million for couples). That amount rises to $3.5 million ($7 million for couples) by 2009.

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Stop Permanent Repeal of the Estate Tax

This alert provides background information on the estate tax and 5 action steps you can take to help prevent repeal of the estate tax. Read through the alert and then contact your Senators through this legislative link -- the talking points included in this alert are also available there to provide suggestions for your letter or call to your Senators.

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The Deficit is Growing! The Deficit is Growing!

The Congressional Budget Office (CBO) has issued its latest report on the FY 2002 budget deficit, which is now expected to reach up to $100 billion.

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We Cannot Make Estate Tax Repeal Permanent

Estate tax repeal proponents, unwilling to postpone their agenda to eliminate the country’s most progressive tax, even in the face of an ever-increasing number of costly national priorities and an estimated $100 billion deficit for this fiscal year (see related story, this issue), have continued to push for permanent repeal at every opportunity.

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Tax Day

As people around the country bring last-minute work on their tax returns to a close today, the House Republican leaders are gearing up for their annual "Tax Freedom" day – a time for denigrating government spending and the taxes that enable the government to provide the services that help support the country. This year, the legislative focus of their Tax Freedom day is likely to be the introduction, on April 18, of legislation to make permanent last year’s $1.35 trillion tax cut, which expires (or "sunsets") at the end of 2010.

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$50 Billion Per Year is Not Pocket Change

As reported in the Washington Post on March 25, advocates of estate tax repeal have redirected their efforts to state legislatures, pressuring them to "update" their estate tax laws to reflect the changes implemented in last June’s $1.35 trillion tax cut.

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