How the Stepped-up Loophole Creates an Escalator to Riches–For Those Who are Already Wealthy

Last December, when Republicans passed their tax bill full of perks for their donors and corporations, another loophole dodged scrutiny and remained in the tax code. The stepped-up loophole, sometimes called the stepped-up basis loophole, is a huge advantage for families not quite rich enough to qualify for the estate tax (which has been raised to $10 million for an individual). Even estates which are … Continue reading How the Stepped-up Loophole Creates an Escalator to Riches–For Those Who are Already Wealthy »