The Internal Revenue Service has released Rev. Proc. 2025-32, 2025-44 I.R.B. ____ (10/27/2025), with inflation adjustments for 2026 (sooner that inflation adjustments are usually published), and the significant federal estate tax and trust planning numbers previously published were correct. Those numbers are as follows:

• The annual gift tax exclusion will remain at $19,000 (same as for 2025).
• The annual gift tax exclusion for a non-citizen spouse will be $194,000 (had been $190,000 for 2025).
• The “2 percent” amount for purposes of section 6166 will be $1,940,000 (was $1,900,000).
• The limitation on the special use valuation reduction under section 2032A will be $1,460,000 (was $1,420,000).
• The top (37%) income tax bracket for estates and trusts will begin at $16,000 (was $15,650).
• The alternative minimum tax exemption for estates and trusts will be $31,400 (was $30,700), and the phaseout of the exemption will start at $104,800 (was $102,450).

Not included in the above list is the federal estate tax base applicable exclusion amount (and generation-skipping tax exemption), because it was changed to $15,000,000 for deaths and gifts in 2026 by section 70106 of P.L. 119-21 (the “megabill” formerly known as the “One Big Beautiful Bill”). It had been $13,990,000 for 2025, and will not be adjusted for inflation until 2027.