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IRS announces bigger estate and gift tax exemption for 2025

  • 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 apply to tax-free transfers during life and at death.
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Source: Investing - personal finance - cnbc.com

IRS announces new federal income tax brackets for 2025

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