2025 Gift Tax Exemption. The act applies only to tax years up to 2025, and it requires the elevated exemption to sunset on december 31, 2025. The irs recently announced increases in gift and estate tax exemptions for 2025.


2025 Gift Tax Exemption

The 2025 federal estate and gift tax exemption will be increased to $13,990,000, up from $13,610,000 in 2024. The income tax act states that gifts whose value exceeds.

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