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South Florida Estate Planning Law Blog

Insight & Commentary on Estate Planning, Wills, Trusts, Probate & Taxation

IRS Releases Publication 950: Introduction to Estate and Gift Taxes

The Internal Revenue Service released Publication 950: Introduction to Estate and Gift Taxes, which is fairly self-descriptive. It explains the basic estate and gift tax system, and provides the numbers of the annual exclusion, and estate and gift tax exemption for 2012.

The annual exclusion will remain at $13,000, but the lifetime exemption for estate taxes and gift taxes will increase from $5,000,000 to $5,1200,000.

Of course, no one knows what will happen when the exemptions are set to expire on December 31, 2012.

Publication 950: Introduction to Estate and Gift Taxes.

About the Author

David ShulmanDavid is a Fort Lauderdale attorney with a law practice focused on estate planning, probate and trust administration, asset protection, guardianships, and tax. Among other things he is a Mac nerd, BBQ lover, and blogger. Follow him on Google or Twitter.View all posts by David Shulman →