Lifetime Gift Tax Exclusion 2024. The annual gift tax exclusion. The us internal revenue service (irs) has announced that the annual gift tax exclusion is increasing in 2025 due to inflation.
The lifetime gift tax exemption is a federal tax law that allows an individual to give gifts of up to a certain amount without incurring gift taxes. The us internal revenue service (irs) has announced that the annual gift tax exclusion is increasing in 2025 due to inflation.
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