The IRS has released the 2014 Inflation Adjustments. The estate tax lifetime exemption amount will increase to $5.34 million. The annual exclusion for gift tax will remain the same at $14,000.
On the income tax side, a married couple earning over $457,600 or an individual earning over $406,750 will pay the top tax rate of 39.6%. There are also increases in the standard deduction and personal exemption.