Through Twitter no less, the D.C. Office of Tax and Revenue announced that the District of Columbia will finally take the first step in a plan that will eventually raise the D.C. estate tax exclusion to match the federal exstate tax exlusion, which for 2017 will be $5.49 million Specifically D.C. will increase the estate tax exclusion from $1 million to $2 million. Accordingly, if at the time a D.C. resident dies, his or her estate is less than $2 million then there will be no D.C. estate tax owed. This increase in the estate tax exclusion will provide substantial relief to homeowers who have the escalating value of their homes pushing them above the $1 million threshold.
