Increase in Annual Exclusion for 2013


For 2013, the gift tax annual exclusion is set to increase to $14,000.  From 2009 through 2012, the annual exclusion was only $13,000.  

The increase in the annual exclusion was announced last week by the IRS issuing Rev. Proc. 2012-41, which, among other things, announced the increased annual gift tax exclusion.