NOTE This information is out of date. See a listing of recent tax-related articles for more current information about taxes and their fundraising implications.
The gift tax annual exemption will remain at $13,000 for 2012. Pursuant to the IRC, the exemption can rise only when the inflation adjustment produces an increase of $1,000 or more.
In 2012, the applicable unified estate and gift tax exclusions will rise to $5,120,000, a $120,000 increase from 2011. The estate and gift tax is scheduled to revert to pre-2001 levels in 2013 without further congressional action.