IRS Announces 2023 Estate & Gift Tax Exemption Amounts - Texas Agriculture Law
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Recently, the IRS announced the 2023 estate and gift tax exemption amounts. These amounts change slightly each year, and are an important consideration in a person’s estate planning process. As we have previously discussed the IRS sets a certain amount that a person is allowed to give during their lifetime or at death without estate or gift tax liability. [Read prior blog posts here and here.] The IRS adjusts the amount each year. For 2023, the exemption amount will be $12.92 million per person, up from $12.06 million Read More →
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IRS Raising Annual Gift Tax and Estate Tax Exclusions in 2023