Advertisement The Internal Revenue Service recently announced the 2023 cost of living adjustments for the estate and gift tax exclusion amounts. Gift Tax Exclusion Amount: The annual gift tax exclusion is the amount (“Gift Tax Exclusion Amount”) an individual may gift to any number of persons without incurring a gift tax or reporting obligation. The Gift Tax Exclusion Amount … Continue reading IRS Announces 2023 Increases to Estate and Gift Tax Exclusions