2025 Tax Inflation Adjustments for Gift, Estate and Generation-Skipping Transfer Tax Provisions

The Internal Revenue Service recently announced the annual inflation adjustments for the 2025 tax year, which include the following changes in gift, estate and generation-skipping transfer taxes:

• Lifetime Gift Tax Exemption: $13,990,000
• Federal Estate Tax Exemption: $13,990,000
• Annual Gift Tax Exclusion: $19,000

Additional information is available on the IRS website, Revenue Procedure 2024-40.