News You Can Use: IRS announces tax inflation adjustments for 2023

Last month, the Internal Revenue Service announced its annual inflation adjustments for tax year 2023. In general, values have risen by about 7%. Notable changes include increases in:

  • Standard deductions
  • Marginal tax rates
  • Unified gift and estate tax exemptions
  • Annual gift tax exclusions

Learn more about these and other tax changes by visiting www.irs.gov, and contact Duke’s Office of Gift Planning at (919) 681-0464 or giftplanning@duke.edu to find out how these changes might impact your charitable giving plans.

TAGS: Tax Considerations

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Gift Planning

giftplanning@duke.edu

Duke University’s Office of Gift Planning specializes in charitable gift planning for estates, charitable trusts and annuities, and other complex current and future gift plans.

For more information, please contact the Duke University Office of Gift Planning at 919-681-0464 or giftplanning@duke.edu.