The Fiscal Times

Estate Tax Revenue Plunges, Even as Wealth Soars

Revenues from the federal estate tax have fallen by 50% in just two years, according to new data from the IRS reported by Blomberg News. In 2018, about 5,500 families paid more than $20 billion in estate taxes. In 2020, the IRS collected about $9.3 billion from 1,275 families. “The dramatic decline – to the point where the tax is paid by 0.04% of dying Americans – is largely the result of the tax overhaul enacted by Republicans in 2017, which doubled the amount the wealthy can pass to heirs with