Increasing the Gift Tax Annual Exclusion

The IRS has announced their annual inflation adjustments for 2009 which includes an increase in the annual gift exclusion.  The annual gift tax exclusion for present interest gifts will be $13,000.

Thanks to Greg Herman-Giddens of the North Carolina Estate Planning Blog for the heads up.  Check out his post here for the applicable text from Rev.Proc. 2008-66.

Thanks Greg!

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