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Tag: Estate and Gift Tax Exemption Increase with Inflation

Estate and Gift Tax Exemption Amount to Significantly Increase with Inflation

Posted on November 22, 2022 (December 27, 2022) by Klug Counsel PLLC
Estate and Gift Tax Exemption Amount to Significantly Increase with Inflation | Klug Counsel

Prepared by Gina Lee, Senior Associate at Klug Counsel Every year, the estate and gift tax “basic exclusion amount” (commonly known as the “estate and gift tax exemption amount”) is adjusted for inflation. The Tax Cuts and Jobs Act passed in 2017 doubled the estate and gift tax exemption amount from $5 million to $10 […]

Read More… from Estate and Gift Tax Exemption Amount to Significantly Increase with Inflation

Tagged Estate and Gift Tax Exemption Increase with Inflation, Internal Revenue Code Section 1(f)(3)

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