News & Analysis as of

Gift Tax Cost-of-Living Adjustment (COLA)

Miller Canfield

IRS Announced 2024 COL Adjustments for Estate, Gift Tax Exclusion Amounts

Miller Canfield on

The Internal Revenue Service recently announced the 2024 cost of living adjustments for the estate and gift tax exclusion amounts. Gift Tax Exclusion Amount - The Gift Tax Exclusion Amount is the amount an individual...more

Miller Canfield

IRS Announces 2023 Increases to Estate and Gift Tax Exclusions

Miller Canfield on

​​​​​​​The Internal Revenue Service recently announced the 2023 cost of living adjustments for the estate and gift tax exclusion amounts.  Gift Tax Exclusion Amount: The annual gift tax exclusion is the amount...more

Dickinson Wright

The Federal Transfer Tax Exemption: Increased Amount But Less Time to Use It

Dickinson Wright on

Earlier this month, the IRS announced the cost of living adjusted (“COLA”) amount of the exemption applicable to transfers in 2020 that are subject to gift, estate, and generation-skipping transfer (“GST”) taxes (i.e.,...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Increased Estate/Gift Tax Exemptions Under TCJA: No-Clawback, but Use it or Lose It

The Tax Cuts and Jobs Act (“TCJA”) passed in December, 2017, doubled the estate and gift tax basic exclusion amount from $5.0 million to $10.0, coupled with a cost of living adjustment. For 2019, the basic exclusion amount is...more

4 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide