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Increases in Estate, Gift, and GST Exemptions and Exclusions for 2024

The IRS released the 2024 inflation-adjusted exemptions and exclusions for estate, gift, and GST tax in Rev. Proc. 2023-34 as follows:

  • The estate and gift exemption amount (currently $12.92 million) will increase to $13.61 million for 2024 ($27.22 million per couple). The GST exemption will likewise increase by the same amount.
  • The annual gift tax exclusion will increase from the current $17,000 up to $18,000 in 2024.
  • The gift tax exclusion amount that can be given annually to a non-citizen spouse is increasing from $175,000 up to $185,000 next year.
  • Rev. Proc. 2023-34 also provides that trusts and estates are in the highest tax bracket for ordinary income over $15,200.

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Conservation easements: what they are and why the IRS is watching

Conservation easements: what they are and why the IRS is watching

Jul 21, 2026

Conservation easements have a legitimate place in tax and estate planning, but for years promoters have been packaging them into abusive investment schemes that have drawn IRS enforcement. If you’ve been approached with one of these arrangements, or if you’ve already participated in a prior year, the consequences of getting this wrong include disallowed deductions, steep penalties, and in serious cases, criminal prosecution. This article breaks down how legitimate easements work, what the abusive versions look like, and what steps to take if you have questions about your situation.

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