federal estate tax Archives - Montgomery Purdue

28Nov 2022

Author Kaity Perez

Portability Only Estate Tax Returns

The federal estate tax exemption is currently $12.06 million per taxpayer. However, in 2026, the exemption amount is set to decrease to $5 million, indexed for inflation (estimated to be between $6-$7 million). The current high threshold means many estates…

1Feb 2021

Author Allison Int-Hout

2021 Increase to Federal Transfer Tax Exemption

The IRS increased the 2021 federal estate and gift tax exemption to $11,700,000, up from $11,580,000 in 2020. The IRS announced the increase, along with a variety of other adjustments, in Rev. Proc. 2020-45. This increase to the federal exemption…