It is important for those involved with estate planning, administration and litigation to know the status of the gift/estate tax exclusion amounts for 2015. 

Revenue Procedure 2014-61 was recently released and it provides the following: 

  • The unified credit against estate tax under § 2010 will increase to $5,430,000, up from $5,340,000 in 2014 (total increase of $90,000).
  • The exclusion from gift tax on a gift to a non-US citizen spouse will increase from $145,000 in 2014 to $147,000 in 2015.
  • The annual gift tax exclusion amount remains unchanged at $14,000 for 2015.

Click here for Rev. Proc. 2014-61, which contains all of the adjustments for 2015.