Pessin Katz reports on predicted 2015 inflation adjusted tax items. It’s article begins as follows:
The following are some of the more salient tax items adjusted unofficially for inflation by Research Institute of America. While unofficial they represent a very good estimate of predicted adjusted items for 2015. This list is not all inclusive. IRS is required to release the “official” adjustments by December 15, 2014.
Estate and Gift and Long Term Care:
- Unified estate and gift tax exclusion amount for estates of decedents dying in 2015 should rise to $5,430,000.
- The exemption from Generation Skipping Transfer Tax should be $5,430,000 for transfers in 2015.
- The gift tax annual exclusion should be $14,000, unchanged from 2014.