2018 Estate and Gift Tax Exclusion

In 2018 the estate and gift tax exclusion increases to $11,180,000 from $5,490,000 in 2017. The exclusion is indexed for inflation each year until 2025. On January 1, 2026 the exemption reverts back to the 2017 level. The highest marginal rate for estate and gift tax is 40%. The annual gift exclusion is now $15,000 which means a gift tax return should be filed reporting the taxable gift but no tax is due by the donor until lifetime taxable gifts exceed $11,180,000. I believe that gift tax returns are not required when gifts of less than $30,000 are paid out of a joint account.