Yes. The federal estate tax exemption has increased for 2012 to $5.12 million, up from $5 million in 2011.

The recent law passed at the end of 2010 set the federal estate tax exemption at $5 million for 2011 and 2012. An inflation adjustment increased this exemption to $5.12 million, rather than an act of Congress. The 2013 tax exemption is scheduled to change again in 2013.

KLR’s tax professionals are CPA’s and attorneys who have specialized training and experience in the Boston market place in all matters of Federal, State and Local Tax Issues. They have expertise in tax strategies for individuals and families, estate gift & trust services, voluntary disclosure issues, transfer pricing, M&A assistance, cost segregation studies and research & development tax credits.