In 1789, Benjamin Franklin famously wrote to physicist Jean-Baptiste Leroy “‘In this world nothing can be said to be certain, except death and taxes.” It is only natural, then, that Americans are adverse to experiencing both at the same time.
The “death tax” is what some angry people contemptuously call the Estate Tax, defined by 26 U.S. Code Chapter 11–and fortunately for them, and 99.99% of all Americans, their estates will never have to pay it.
For 2019, an estate tax filling is only required for estates with gross assets and prior taxable gifts in excess of–wait for it–$11,400,000.
If you are among the elite few for whom this is actually an issue, you are definitely the kind of client I want. Contact me and I’ll meet you anywhere, anytime to have your business!
I’ll even fill out IRS Form 706 for you! 🙂
For the rest of you, consider a pause next time before grabbing a “Tax is Theft” placard–and taking to our publicly funded streets.