IRS Announces Increase In Annual Exclusion For Gifts, Rest Remains a Mystery

Nobody has a crystal ball. I’ve sat through presentation after presentation (and given a couple myself) on the state of the federal estate and gift tax for 2013 and beyond. There are all kinds of theories about what might happen. But the reality is, we know very little. Quite frankly, much of it hinges on what happens in November. And no, I’m not talking about the presidential election. Realistically, although the President may claim to drive policy when it comes to the federal estate and gift tax, he doesn’t. Congress does. So let’s talk about what will happen if nothing …