2024 Estate Tax Exemption Sunset. The federal lifetime estate and gift tax exemption will sunset after 2025. Given looming uncertainties such as a still uncertain economy and the 2024 presidential election, wealthy individuals and families should start planning now for how a lower gift.
In 2024, each taxpayer has an applicable exclusion of $13,610,000 from these taxes, and this amount is scheduled to increase in 2025 with an annual inflationary. Under harris’ proposal, it would be reduced to.