The federal estate tax exemption amount is $5,000,000 and is adjusted annually for inflation. This year the exemption amount increases to $5.34 million. This means that a married couple can protect up to $10.68 million. The estate tax rate is 40%.
The annual exclusion from gift taxes will remain at $14,000 for 2014.
Limits on Tax-Free Lifetime Gifts Increase
6 hours ago