2015 Estate/Gift Tax Amounts
The IRS announced the 2015 Federal Estate Tax exemption is increasing $90,000 to $5.43 million per person. The gift tax exclusion amount remains at $14,000.
In New York, the exclusion amount does not increase until April 1, 2015. The exclusion amount increases from $2,062,500 to $3,125,000 per person.