The federal estate and gift tax exemption is scheduled to decrease from the current amount of $13.99 million per person to approximately $7 million per person. Without action by Congress, this change will take effect on January 1, 2026. Background…
Read MoreThe federal estate tax exemption is currently $12.06 million per taxpayer. However, in 2026, the exemption amount is set to decrease to $5 million, indexed for inflation (estimated to be between $6-$7 million). The current high threshold means many estates…
Read MoreThe IRS increased the 2021 federal estate and gift tax exemption to $11,700,000, up from $11,580,000 in 2020. The IRS announced the increase, along with a variety of other adjustments, in Rev. Proc. 2020-45. This increase to the federal exemption…
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