Liuka Prissie

Estate Tax Exemption 2024 Payment Online. In 2024, the exemption rises to $13.61 million. The federal government levies an estate tax on estates worth more than the current year's limit.

The estate tax is the tax on the taxable estate, reduced by any credits allowed. In general, the gift tax and estate tax provisions apply a unified rate schedule to a person’s cumulative taxable gifts and taxable estate to arrive at a net tentative tax.