Helping Seniors & Families
Plan For Their Future
Feasterville, PA
Doylestown, PA

IRS Tax Updates for 2014

The Internal Revenue Service recently published new federal tax updates for 2014. Many taxpayers are interested in the following:

Estates of decedents who die during 2014 have a basic exclusion amount of $5,340,000, up from a total of $5,250,000 for estates of decedents who died in 2013.

The annual exclusion of gifts remains at $14,000 for 2014.