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Increases in Estate and Gift Tax Exemption Amounts Announced by IRS

By Charles Chuck Rubin on November 19, 2021
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We have gone from scrambling to deal with a decrease in the unified credit under proposed legislation, to now enjoying the 2022 inflation adjustments. Enjoy!

2022 Annual Gift Tax Exclusion – increased to $16,000 from $15,000. Good news, but makes it a little harder to do the math for mutliple gifts in your head.

2022 Estate/Gift/GST Exemption – increased to $12.06 million from $11.7 million.

2022 Annual Exclusion Gift to non-U.S. Citizen Spouse – increased to $164,000.

Let’s not forget my favorite annual amount announcement – for calendar year 2022, the tax imposed under§ 4161(b)(2)(A) on the first sale by the manufacturer, producer, or importer of any shaft of a type used in the manufacture of certain arrows is $0.55 per shaft.

Rev.Proc. 2021-45

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  • Posted in:
    Tax
  • Blog:
    Rubin On Tax
  • Organization:
    Gutter Chaves Josepher Rubin Forman Fleisher Miller P.A.
  • Article: View Original Source

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