Federal Unified Credit for 2013

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The recent passage of the American Taxpayer Relief Act (ATRA) of 2012 enacted major estate and gift tax reform, and a certain sense of permanence for estate tax planners.

The ATRA maintained the unification of the estate tax exemption amount and the gift tax exemption amount. This amount continues to be indexed for inflation [IRC §2010(c)(3)(B)].

Here is a summary of the exemption amounts, and the equivalent unified credit amounts for both the estate tax and the gift tax:

Years Exemption Amount Unified Credit
2011 $5,000,000 $1,730,800
2012 $5,120,000 $1,772,800
2013 $5,250,000 $2,045,800

In Rev. Proc. 2013-15, §2.13, the IRS confirmed that the basic exclusion amount against estate tax under §2010 for an estate of any decedent dying during calendar year 2013 (and by extension, the unified credit against gift tax under §2505) is $5,250,000.

See: IRS Rev. Proc. 2013-15

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