Once Removed Episode 16: Gift and Estate Tax, Inflation Adjustments for 2024
Press: Inflation Adjusted Numbers Show BigLaw Continuing to Struggle
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
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
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
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
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