Spencer Fane attorneys Joshua Decker and Maureen Cook’s article, IRS Inflation Adjustments for 2025 Explained, was recently published on WealthManagement.com.
Originally a firm blog post, the article also features contributions from Serena O’Neil, Jackie Pringle, Charli Steed, and Samuel Thomas. In it, the team outlines the IRS’ annual inflation adjustments for the most common tax exemptions and exclusions: the annual federal gift tax exclusion, unified credit, and the generation skipping transfer tax.
“Please note that the current exemptions originated with the Tax Cuts and Jobs Act of 2017 and are scheduled to expire at the end of 2025,” the team explained. “On January 1, 2026, the higher exemption amounts will revert to the $5 million exemption allowed in 2017, adjusted for inflation, unless Congress decides to act before then.”
At Spencer Fane, Joshua, Maureen, Serena, Jackie, Charli, and Samuel are all valuable members of the Tax, Trusts, & Estates Practice Group. This team helps to minimize, defer, and eliminate taxes and assure the protection and disposition of a client’s most valuable assets. Equally important, they provide easy-to-understand advice that gives clients a clear picture of the steps necessary to execute their tax, trust, estate, and business succession plans in order to protect wealth for generations to come.
Read the full article here.
