Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

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Tuesday, February 11, 2014

IRS Releases Statistics Report for 2012-2013

IRS-100wiRecently, the IRS released a statistics report for "Estate Tax Returns Filed For Wealthy Decedents, 2012-2013." Below are some of the highlights:

  • The increase in the filing threshold has reduced the number of estate tax returns by 87%.
  • In 2012, the gross estate threshold has drastically increased since 2003 from $1.0 million to $5.12 million.
  • The total net estate tax for 2012 was $8.5 billion.
  • The state with the highest number of estate tax returns filed in 2012 was California.
  • Stock and real estate make up about 50% of estate tax assets in 2012. 
  • Those with assets worth more than $20 million had more stocks in their portfolio than real estate and retirement assets than any other type of assets.

See Pessin Katz Law, P.A., The Tax Man Cometh ... A Recap, JD Supra, Jan. 24, 2014.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.


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