- RESOURCES
- FEDERAL ESTATE TAXES
“In this world nothing can be said to be certain,
except death and taxes.”
Benjamin Franklin
An Estate Tax Combines Them Both
Sometimes referred to as a “death tax,” this federal tax is levied on the transfer of assets once an individual passes away.
Assets are exempt from this tax only up to a certain amount of money. The exemption amount in 2023 is $12,920,000. However, in 2026, the exemption amount will be lower to approximately $5 million (adjusted yearly for inflation).
As with all tax rates and exemptions, this could change based on changes in the law.
Exemption Thresholds
| Years of Death | If Amount Described Above Exceeds: |
|---|---|
| 2011 | $5,000,000 |
| 2012 | $5,120,000 |
| 2013 | $5,250,000 |
| 2014 | $5,340,000 |
| 2015 | $5,430,000 |
| 2016 | $5,450,000 |
| 2017 | $5,490,000 |
| 2018 | $11,180,000 |
| 2019 | $11,400,000 |
| 2020 | $11,580,000 |
| 2021 | $11,700,000 |
| 2022 | $12,060,000 |
| 2023 | $12,920,000 |