After you’ve rung in the New Year, it’s time to start getting down to business and thinking about tax season. While it’s not the merriest time of the year, tax season is a great time to review your finances and the changes that may impact how you file. Every year, the Internal Revenue Service provides its updated tax inflation adjustments. These yearly amendments lay out the amounts exempt from federal estate and gift taxes. Due to inflation, the IRS has increased estate tax exclusions for 2023. What does that mean for you?
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