AMAC Magazine Exclusive – The Death Tax is Killing America's Family Businesses

By: Palmer Schoening

The IRS defines the estate tax as a tax on “your right to transfer property at death.” You cannot pay the estate tax without dying, and death is the triggering event for the tax, which is why it can more accurately be dubbed the “death tax.” After a lifetime of hard work for America’s family business owners, if they are successful enough after already paying multiple layers of taxation, the government’s reward is the death tax. Members of Congress, academics, economists, and journalists constantly debate the death tax’s fairness and efficiency as a tax collection method.

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