News & Analysis as of

Inflation Adjustments Tax Exemptions Estate Tax

Williams Mullen

Implications of the One Big Beautiful Bill Act on the Basic Exclusion Amount and GST Exemption

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By way of background, in 2012, the basic exclusion amount and GST exemption were permanently increased to $5 million, with that amount indexed for inflation. The 2017 Tax Cuts and Jobs Act (TCJA), temporarily increased the...more

Bowditch & Dewey

Increase in 2025 Estate Exemption – IRS Issues 2025 Inflation Adjustments

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The IRS recently issued the 2025 annual adjustments for numerous tax provisions, including changes to tax brackets and standard deductions. Popular adjustments include: - Estates of decedents who die during 2025 will have...more

Proskauer Rose LLP

Personal Planning Strategies - November 2023

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What This Means for Your Current Will, Revocable Trust and Estate Plan - The estate and gift tax regimes have been permanent and unified since the passage of The American Taxpayer Relief Act of 2012 (the “2012 Act”). In...more

Proskauer Rose LLP

Wealth Management Update - September 2022 - 2

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October 2022 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The October applicable federal rate ("AFR") for use with a sale to a defective grantor...more

Verrill

2018 Year-End Estate Planning Update

Verrill on

Federal Transfer Taxes - The Internal Revenue Service has announced the annual inflation adjustments for the 2019 tax year... Federal unified gift and estate tax exclusion increasing to $11,400,000: As of January 1,...more

Harris Beach Murtha PLLC

Inflation Adjustments: A Safe Conversation for the Thanksgiving Table

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It’s that time of year again when people’s thoughts turn to…inflation adjustments! The Internal Revenue Service (IRS) recently announced the annual inflation adjustments for more than 60 tax provisions for the year 2019,...more

Williams Mullen

Estate Planning Adjustments for Tax Year 2019

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Many estate planning provisions of the Internal Revenue Code contain brackets, exemptions, exclusions, deductions, or other figures that the Internal Revenue Service (IRS) adjusts annually for inflation. Recently, the IRS...more

BCLP

Projected Inflation-Adjusted Estate, Gift and GST Tax Exclusion Amounts for 2017 Now Available

BCLP on

Based on the Consumer Price Index for the 12-month period ending August 31, 2016, Thompson Reuters Checkpoint has released their projected inflation-adjusted Estate, Gift, GST tax, and other exclusion amounts for 2017, as...more

Lewitt Hackman

Trusts, Estates, Exemptions and Taxes

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It may be hard to believe that in 2001, the estate and gift tax exemption, also known as the unified credit, was a mere $675K. In 2016 that credit is anticipated to go up to $5.45M for single filers; potentially $10.9M...more

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