Estate and Gift Tax Highlights of the One Big Beautiful Bill

This article is one in a series on the One Big Beautiful Bill Act (OBBB) that was signed into law in July 2025. The bill represents the most significant tax legislation since the Tax Cuts and Jobs Act (TCJA) that became law in 2017. As we work to digest all of the details contained in the massive 1,100-page bill, we will post additional articles here.

OBBB increased the exemption amount for gift, estate, and generation-skipping transfer tax to $15 million for an individual and $30 million for married couples. The law also indexes these exemption amounts annually for inflation.

The Federal estate and gift tax exemption was set at $13.99 million per individual and $27.98 million for a married couple before the law took effect. These figures had been scheduled to be reduced by approximately half in 2026 if the historically high exemption thresholds set by the TCJA had not been extended.

Schreiber Accounting and Advisory is constantly monitoring tax legislation changes, and stands ready to help clients take advantage of opportunities for tax savings when they present. Check out the firm’s Tax Preparation and Planning services, and contact the firm for more information.

Material discussed is for informational purposes only. It is not to be interpreted as investment, tax, or legal advice. Individual situations vary, and this information should only be relied upon when coordinated with individual professional advice.