The Department of Labor released data on inflation on Wednesday. Wolters Kluwer has projected that as a result the federal estate tax exemption will increase from the current $5.34 million to $5.43 million in 2015. However, it is not projected that the annual gift tax exemption will increase, but rather remain the same at $14,000.
See Ashlea Ebeling, Limits on Tax-Free Lifetime Gifts Projected to Rise for 2015, Forbes, Sept. 17, 2014.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
