News & Analysis as of

Tax Rates Inflation Adjustments

Bowditch & Dewey

Big Increase in 2024 Estate Exemption – IRS Issues 2024 Inflation Adjustments

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The IRS recently issued the 2024 annual adjustments for numerous tax provisions, including changes to tax brackets and standard deductions. Popular adjustments include...more

Bowditch & Dewey

Tax Year 2023 Annual Inflation Adjustments

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The Internal Revenue Service has announced the tax year 2023 annual inflation adjustments for more than 60 tax provisions including tax rate schedules and other tax changes. Here are some key highlights...more

Keating Muething & Klekamp PLL

Fall 2022 Estate Planning Update

This Estate Planning Update reviews the newly-released estate tax exemption and gifting adjustments for 2023, the extended deadline to make a portability election, and simple ways that business owners and professionals can...more

A&O Shearman

Inflation Reduction Act of 2022: New Corporate Book Minimum Tax and Changes for Carried Interests

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On July 27, 2022, Senators Manchin and Schumer announced that they agreed to a proposed reconciliation package, the Inflation Reduction Act of 2022, H.R. 5376 (the “Bill”). If enacted, the Bill would finance climate programs,...more

Lasher Holzapfel Sperry & Ebberson PLLC

Washington’s New Capital Gains Tax is Overturned as Unconstitutional

In 2021, Washington State Legislature passed ESSB 5096, which created a 7% tax on the sale or exchange of long-term capital assets (stocks, bonds, business interests, or other investments, and many tangible assets) if the...more

Bowditch & Dewey

IRS Issues 2022 Inflation Adjustments

Bowditch & Dewey on

The IRS recently issued the 2022 annual adjustments for numerous tax provisions that are by law to be adjusted annually. These adjustments include changes to tax brackets and standard deductions. Popular provisions that were...more

Bowditch & Dewey

IRS Issues 2021 Inflation Adjustments

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The IRS recently issued the 2021 annual adjustments for numerous tax provisions that are by law to be adjusted annually. These adjustments include changes to tax brackets and standard deductions. Popular provisions that were...more

Tucker Arensberg, P.C.

Federal Estate Tax Exclusion Rises to $11,580,000 for 2020 (and more inflation adjustments)

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The IRS published Revenue Procedure 2019-44 on November 6, 2019, to set the inflation adjustments for 2020. The exclusion from federal estate will increase to $11,580,000, up from $11,400,000 in 2019....more

Verrill

2018 Year-End Estate Planning Update

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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

Foley & Lardner LLP

IRS Releases 2018 PTC Amounts

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The IRS just published its annual notice that provides the inflation adjustment factors and reference prices used in determining the amount of the section 45 production tax credit (PTC) for the production of renewable energy...more

Foley & Lardner LLP

BREAKING NEWS: Congress Sends Tax Cuts and Jobs Act to President Trump’s Desk for Signing

Foley & Lardner LLP on

The Tax Cuts and Jobs Act (TCJA) has been passed by both houses of Congress and is now set to be signed into law by President Trump. The vote was 224-201 in the House with all the Democrats joined by twelve Republicans voting...more

Troutman Pepper

2015 Tax Figures

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The following inflation-adjusted amounts are effective January 1, 2015: - The annual exclusion from gift tax remains at $14,000 per donee. - The annual exclusion from gift tax for gifts to a non-citizen...more

McCarter & English, LLP

2013 Estate Planning Update

As 2012 drew to a close, your estate planning attorney's attention was diverted from the ball drop in Times Square to whether Congress would drop the ball with respect to the fiscal cliff. Congress, however, passed the...more

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