The Tax Cuts and Jobs Act briefly doubled the quantity which may be given freed from tax. Nevertheless, that quantity reverts to the everlasting, undoubled quantity in 2026. The property tax ordinarily contains prior taxable presents after which applies the exclusion to the overall. Nevertheless, in 2026 or later, this might lead to a tax on quantities which weren’t taxable when gifted. This subject is the “clawback.” New Proposed Rules resolve this subject. Learn on to study extra.