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When was the federal tax inheritance law passed?

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An early version of the federal inheritance tax, also known as the estate tax, was first authorized by Congress in 1797 and took the form of a stamp act, according to the Heritage Foundation. Multiple subsequent estate taxes were enacted over the next 200 years.

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When was the federal tax inheritance law passed?
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Full Answer

The modern estate tax dates to the Revenue Act of 1916, notes the Heritage Foundation. This act, which was mainly concerned with introducing a progressive tax on income, included a provision for the taxing of deceased persons' estates worth over $50,000. The tax started at 1 percent and rose as high as 10 percent for estates in excess of $5 million.

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