Posted on October 28, 2010 by Greg Herman-Giddens

IRS Announces 2011 Cost-of-Living Adjustments

In Revenue Procedure 2010-40, the IRS provides 2011 figures for many items in the tax code.  Of particular note to my readers:

  • The Annual Exclusion from the Gift Tax remains at $13,000.  IRC Section 2503
  • The Annual Exclusion for gifts to a non-citizen spouse is $136,000.
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