February 27, 2023
Tax Director Daniel Smith wrote about the estate and gift tax exclusion for the February issue of the Mann Report.
The Mann Report
By Daniel Smith, Director, Tax & Business Services
Excerpt:
The Internal Revenue Service has released the annual inflation adjustments for tax year 2023, which include increases for wealth transfer tax planning… The combined gift and estate tax exemption available to each individual taxpayer will rise to $12.92 million in 2023.
