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Bloomberg has released its predictions for the tax rates in 2024. These predictions are based on the Chained Consumer Price Index for all Urban Consumers (C-CPI-U) data reported from September 2022 to August 2023 by the Bureau of Labor Statistics. The IRS relies on this data for annual adjustments to account for inflation. Here are the anticipated changes:
Unified Credit Against Estate Tax and Generation Skipping Transfer Tax Exemption Amount (§2010, §2631):
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