Saturday, November 02, 2013

UPDATED HISTORICAL FEDERAL TRANSFER TAX RATES, EXEMPTIONS, AND RELATED INFORMATION TABLE

In Rev. Proc. 2013-35, the IRS has published inflation-adjusted amounts to various taxes, exemptions, and other items. The unified credit basic exclusion amount for transfer tax purposes, along with the GST tax exclusion, has been increased to $5.34 million.

I have updated my historical table of transfer tax rates to include 2014 – a copy can be viewed and downloaded from here. It can also be accessed at any time from the list of links in the right hand column. I keep a copy under the glass of my desk since questions about a particular rate or exemption from a prior year always come up.

For those with an interest in the full list of inflation adjusted items, click here for Rev.Proc. 2013-35.

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