Increased Estate Tax Exemption for 2014

English: Dartboard with darts. Suomi: Tikkataulu.The Treasury Department will not provide official numbers until November, but I have made the following projections for 2014 estate and gift tax exclusion amounts:

  • The Basic Exclusion Amount (IRC §2010(c)(3)) used to compute the Unified Credit Against Estate Tax will probably be $5,340,000; this would be an increase of $90k over 2013’s exclusion amount;
  • This Basic Exclusion Amount is equivalent to a Unified Credit of $2,081,800;
  • The Gift Tax Annual Exclusion amount (IRC §2503(b)) should remain at $14,000.

These predictions assume that Congress makes no changes to the estate and gift tax laws before the end of the year.

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