The IRS announced in the Revenue Procedure 2013-15 that the estate tax exemption for 2013 is $5,250,000. This means that if you forgot to make that $5 million gift before December 31, 2012 you are in luck because you can make it this year!
IRS Estate Tax Exemption for 2013
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About the Author: Bette Hochberger, CPA, CGMA
Bette is the founder of the firm that bears her name. After launching her career in private accounting with technology startups and nonprofits in Boston and Miami, she transitioned to Public Accounting at large regional firms. She founded her firm so she could focus on the needs of small business owners instead of chasing billable hours with large corporations.
