The US Internal Revenue Service has announced that the annual gift tax exclusion is increasing next year due to inflation. The exclusion will be $17,000 per recipient for 2023—the highest exclusion amount ever. Further, the...more
The Democrats of the House of Representatives have released a much-anticipated tax plan that would significantly impact the federal estate and gift tax system. Importantly, the House could still amend this legislation and the...more
9/21/2021
/ Biden Administration ,
Closely Held Businesses ,
Estate Planning ,
Estate Tax ,
Generation-Skipping Transfer ,
Gift Tax ,
Grantor Trusts ,
Income Taxes ,
Life Insurance ,
Spousal Lifetime Access Trust (SLAT) ,
Tax Planning