The IRS has issued Proposed Reg. §20.2010-1 to address the effect of the temporary increase in the basic exclusion amount used in computing estate and gift taxes. For years 2018-2025, the basic exclusion amount (BEA) is increased to $10 million, as adjusted for inflation. For years after 2025, the exclusion amount reverts to $5 million, […]
The post IRS Proposes Rules When Basic Exclusion Amount Differs for Lifetime Gifts and at Death (NPRM REG-106706-18) appeared first on Tax & Accounting Blog.