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2022 STRATEGIC TAX PLANNING PLANNING FOR DEATH TAXES IS NOT DEAD! By: Simon Levin, Esq. and Donald A. Kress, Esq. With the failure in the Senate of President Biden’s “Build Back Better” (“BBB”) legislation ro pass, which already had dropped literally all of its original Draconian estate and gift tax proposals, the opportunity for creative and meaningful death tax planning is more alive than ever. After a short collective sigh of relief, taxpayers need to focus quickly on the facts that not only are all of the well-known planning opportunities still available, but, due to on-going adjustments for inflation, many of the benefits actually have improved. Legislative Background For 2022, the federal gift, estate and generation – skipping tax exemptions (the “Exemptions”) again have increased, this time to $12,060,000 ($24,120,000 for a married couple) from $11,700,000, and the gift tax annual exclusion has increased to $16,000...