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Posted by on Dec 3, 2014

IRS 2015 Gift and Estate Tax Exemption Amounts

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.