Recently, experts have released theirestimates for the 2014 IRS inflation rates. Experts believe the most impactfulchange the taxpayers face will be the lifetime gift and estate tax exemption,which will be indexed for inflation. One of the experts has predicted thatthe number the IRS will use to figure out the inflation rate adjustment will be1.6% lower than previous years. Despite the fact that the alternative minimumtax has been indexed for inflation, other taxes on Medicare and net investmentincome are not. This could cause some problems for the tax payer.
See Kelly Humke, Predictions for 2014 IRS Inflation Adjustment, Wealth Strategies, Oct. 10, 2013.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
