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More facts about Taxpayer Relief Act

February 10, 2013
By DEBORAH MILLER - Planning Ahead , Parkersburg News and Sentinel

Recent passage of the American Taxpayer Relief Act of 2012 has made permanent the $5 million tax-free amount that each person can give to family and friends during lifetime or through their estate without owing any gift or estate taxes. The $5 million base amount will be indexed for inflation each year. For 2013, the tax-free amount is $5,250,000.



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