However, for wealthy heirs of property inherited from a deceased person, taxes might increase from January 2026.

It has been mentioned to me that if our home is established as a listed building, then the value of our home will be excluded from the inheritance tax calculation.

The Tax Cuts and Jobs Act of 2017 (TCJA) has provided a historic opportunity for wealth transfer, with the doubling of the gift, estate, ... The chart assumes that the first (grantor) generation is ...

If a gift exceeded that amount, say, it came to $23,000, the IRS would levy taxes on the $4,000 differential – but only if the Lifetime Exemption has not been cumulatively surpassed.

The other is historic vehicle tax exemption. This used to be offered on a rolling basis at 25 years, but in 1997 the needle stuck – meaning only cars of 1972 and earlier were exempt – and only ...

The IRS announced a higher estate and gift tax exemption for 2025. The "basic exclusion amount" rises to $13.99 million for 2025, up from $13.61 million in 2024, the agency said.

The IRS announced a higher estate and gift tax exemption for 2025. The "basic exclusion amount" rises to $13.99 million for 2025, up from $13.61 million in 2024, the agency said. The exemptions ...

The Internal Revenue Service has announced a higher estate and gift tax exemption for 2025. Stream NBC 5 for free, 24/7, wherever you are. The "basic exclusion amount" rises to $13.99 million per ...

This could mean you end up giving far more than you planned and that your gift—if it exceeds the gift tax exemption—results in a large unplanned tax liability. The gift and estate tax ...