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IRS Issues Some Assurance Gifts Won’t Be Taxed

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Posted on Nov 21, 2018 | Share this post: Like Us on Facebook Join Us on Google Follow Us on Twitter

The IRS has issued proposed regulations that promise that major gifts made to take advantage of the now-temporary $11 million estate tax exemption won’t be taxed later.  The $11 million limit is set to revert back to $5 million (adjusted for inflation) in 2026, so wealthy people have at least $6 million they can give away without worrying about those gifts getting “clawed back” and taxed later.