Blog: Federal Estate Exemption Increases Slightly
December 13, 2016
The IRS has announced that the federal exemption for Federal Estate Tax for 2017 increases by $40,000, to $5,490,000, a huge number. The gift tax exclusion (gifts you can make per person without reporting) remains at $14,000 per person per year. The president-elect has a tax plan that eliminates the Federal Estate Tax. Senator John Thune has also come out in support of ending the Federal Estate Tax. We’ll see.
This blog post is meant for informational purposes only and is not meant to provide legal advice in any particular circumstance or factual situation. You should consult with an attorney prior to taking any action regarding the information contained herein. If you have questions concerning this post, please contact Dan Dykstra at Daniel.Dykstra@heidmanlaw.com.