IRS Form: Draft Form 709 Instructions for Gifts Made During 2018 (IRC §2501)

Draft Form 709 Instructions released October 19 to reflect changes under the 2017 tax act, Pub. L. No. 115-97. The instructions note the increased basic exclusion amount under tax code Section 2010(c)(3), the $15,000 annual gift tax exclusion for 2018, the $152,000 annual exclusion for gift made to non-U.S. citizen spouses, and the 40% top rate for gifts and generation-skipping transfers. Effective January 1, 2019, Form 709 will be filed in Kansas City, Missouri. [Draft IRS Form 709 Instructions (2018)]

Reference:
View Source Document.