In IR-2019-189, the IRS confirms that individuals taking advantage of the increased gift and estate tax exclusion amounts in effect from 2018 to 2025, will not be adversely impacted after 2025, when the exclusion amount is scheduled to drop to pre-2018 levels. “[I]ndividuals planning to make large gifts between 2018 and 2025 can do so without concern that they will lose the tax benefit of the higher exclusion level once it decreases after 2025,” the news release says.
Here’s a link to the unpublished rule in the Federal Register (which will be published on November 26).