$15.48 million per person… U.S. inheritance and gift tax exemption raised by $480,000

The U.S. federal estate and gift tax basic exclusion amount will rise to $15.48 million per person for 2027, up $480,000 from the $15 million threshold set for 2026, according to IRS figures reported by CNBC. The new amount applies only to estates of people who die in 2027 and is not retroactive to 2026 deaths, and it covers tax-free asset transfers made both during life and at death. The increase follows the 2025 tax law change that lifted the per-person exclusion to $15 million for 2026. Because the federal estate tax under current law reaches only a small share of households, the change matters mainly to wealthy families planning large transfers. What to watch next is whether further inflation-indexed adjustments continue annually and how upcoming tax-law debates affect the exclusion's long-term level.