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Estate and Gift Tax Exemptions and Rates
The 2001 Tax Act gradually lowered estate tax rates and increased exemptions, culminating in the repeal of the estate tax in 2010. Congress reinstated the estate tax for 2011 and 2012 and indexed the exemption amount to inflation. In 2013, Congress set new permanent estate tax rates and made the exemption amount, indexed for inflation, permanent. For estates of decedents dying and gifts made after December 31, 2017, and before January 1, 2026, the Tax Cuts and Jobs Act of 2017 doubled the base estate and gift tax exemption amount from $5 million to $10 million, indexed for inflation occurring after 2011.
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