2014 Tax Law Summary for Estate, Gift and GST Tax

Under the new American Taxpayer Relief Act (ATRA) signed into law on January 1, 2013, the following tax laws are in effect: A. Annual Exclusion from Gift Tax. There is an annual exclusion from gift taxes of $14,000 per person. Therefore, you may give any one person $14,000 (or $28,000 if you and your spouse…