Estate planning and federal tax policies play a critical role in financial planning, and staying informed about annual updates is essential for individuals and professionals alike. For 2025, several key developments have emerged, including updates to federal estate and gift tax exemptions, income tax brackets, and other inflation-adjusted thresholds recently released by the IRS. These adjustments are designed to reflect changes in the cost of living, offering taxpayers clarity on how their financial and estate strategies may be impacted.
Understanding these changes is crucial for optimizing tax efficiency, safeguarding wealth, and ensuring compliance with evolving federal regulations. These articles provide an overview of the latest estate planning considerations and a breakdown of the IRS’s tax inflation adjustments for the 2025 tax year.
Key Topics for This Month
ESTATE PLANNING & TAX UPDATE
2025 Estate Planning & Federal Tax Update
As we start the new year, this Federal Tax Update highlights estate planning-related federal tax information as you consider 2025 planning options. Because Congress could pass legislation that changes this information, you should contact your Lathrop GPM estate planning attorney for advice prior to taking any transfer tax planning action.
401K CHANGES
IRS Releases Tax Inflation Adjustments for Tax Year 2025
The tax year 2025 adjustments described below generally apply to income tax returns to be filed starting tax season 2026. The tax items for tax year 2025 of greatest interest to many taxpayers include the following dollar amounts:
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