2023 Inflation Adjustments for Estate and Gift Tax

A large, illuminated building with classical architecture and columns stands proudly at night, adorned with American flags. The street in front, reminiscent of ongoing inflation adjustments, has several cars and trees, with streetlights casting a warm glow.

The IRS recently announced the tax year 2023 annual inflation adjustments for more than 60 tax provisions as detailed in Revenue Procedure 2022-38. Included in the list of tax changes are increases for estate and gift tax exemptions, providing additional tax planning opportunities for the new year. Unified Credit Against Estate & Gift Tax For […]