Post-2017 individuals can pass $11.58 million tax-free as gifts or estates

Evidence

(I would be remiss if I didn’t also point out the boost to wealth building provided by our federal estate and gift tax regime, which allows family members to gift a certain amount [15,000 per person in 2020] annually to as many individuals as they want without having to report the gifts to the IRS. While gifts over that threshold do need to be reported to the IRS, there’s a very good chance they’ll never be taxed. After the 2017 Tax Cuts and Jobs Act, individuals can give away up to 11.58 million during their lifetime or at their death that neither they nor the recipient will ever have to pay gift and estate taxes on. Married couples can give away twice that amount.) — Dorothy A. Brown, The Whiteness of Wealth, 464

Categorization

• XREF: Another concrete named provision with exact mechanics: the estate and gift tax exclusion, raised to $11.58M by the TCJA — exactly what the reader needs to name four specific provisions.