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Estate and Gift Tax Raised By TCJA

2018 – 11/21 There’s no cause for concern, says the IRS, for individuals making large gifts in the years 2018 through 2025. The Tax Cuts and Jobs Act significantly raised the estate and gift tax exemptions for those years, after which the exemptions are scheduled to drop back to pre-2018 levels. The IRS recently announced that individuals who intend to make large gifts between 2018 and the end of 2025 can do so without concern about losing the tax benefit of the higher exemption level once it decreases after 2025. For details, read the IRS press release: 


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