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Taxation & Estate Planning

: The Ohio Trust & Estate Blog

Increasing the Gift Tax Annual Exclusion

By Michael D. Bonasera, Esq.

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The IRS has announced their annual inflation adjustments for 2009 which includes an increase in the annual gift exclusion.  The annual gift tax exclusion for present interest gifts will be $13,000.

Thanks to Greg Herman-Giddens of the North Carolina Estate Planning Blog for the heads up.  Check out his post here for the applicable text from Rev.Proc. 2008-66.

Thanks Greg!

Full post as published by The Ohio Trust & Estate Blog on October 16, 2008 (boomark / email).

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