Tag Archives: Federal Estate Tax

ILN Today Post

Happy New Year!

With 2016 only a few hours away, here’s a look at changes to the Federal estate and gift tax exemptions for 2016.

  • The Federal Estate Tax Exemption amount will be $5.45 million per individual, an inflation-adjusted increase from $5.43 million in 2015.
  • The annual gift tax exclusion amount remains at $14,000, the same as in 2015.

The increase in the Federal Estate Tax Exemption means an individual can leave $5.45 million to her beneficiaries without Federal Estate Tax, or gift tax during her lifetime. In 2016, a married couple will be able to collectively transfer $10.9 million without Federal Estate Tax, or gift taxes during their lifetimes.

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ILN Today Post

IRS 2015 Gift and Estate Tax Exemption Amounts

The IRS announced the 2015 Gift and Estate Tax Exemption Amounts, along with other tax changes, here.  For persons dying in 2015, the Federal Estate Tax exemption amount has increased to to $5,430,000, up from the 2014 exclusion amount of $5,340,000.  This means that, collectively,  in 2015 a married couple can exclude $10,860,000 from Federal Estate Tax.  The gift tax annual exclusion amount remains $14,000 in 2015.  This means that in 2015, as in 2014, you can transfer up to $14,000 per individual without the necessity of filing a Gift Tax Return. 

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