2024 Estate Tax Exemption. Finally, the elizabeth warran tax proposal calls for a $3.5 million exemption so, if that is enacted, many more business owners will be subject to estate tax than under. Estate & gift tax exemption:
In 2024, the exemption amount for individual estates will reach $13.61 million, an increase from the $12.92 million benchmark in 2023. The internal revenue service has published the 2024 estate and gift exemption amounts.