Dec 1, 2021 6 min read
How Can Proposed Gift Tax Exemption Affect Your Family in 2022
In the Revenue Procedure 2021-45, published on November 8, 2021, and effective January 1, 2022, the Internal Revenue Service (IRS) announced the new inflation-adjusted numbers. The adjustments refer to more than 60 tax provisions to be used by individual taxpayers on their 2021 returns - meaning the returns that are generally filed in 2022. When it comes to the gift tax - a federal tax levied on