Unified Credit Increased

The applicable credit amount for the unified credit for gift and estate taxes increases to $220,550 for gifts made in 2000 and for the estates of decedents dying in 2000. In 1999, the amount was $211,300.

The following table lists the unified credit for years after 1999.

Year	Unified Credit
2000 and 2001	$220,550
2002 and 2003	229,800
2004	287,300
2005	326,300
After 2005	345,800

Estate Tax Return Filing Requirement Increased

Generally, an estate tax return must be filed for the estate of a U.S. citizen or resident dying in 2000 if the gross estate is more than $675,000. In 1999, the amount was $650,000.

The following table lists the filing requirement for gross estates of decedents dying after 1999.

	Filing
Year of Death	Requirement
2000 and 2001	$ 675,000
2002 and 2003	700,000
2004	850,000
2005	950,000
After 2005	1,000,000

For more information on estate and gift taxes, see Publication 950, Introduction to Estate and Gift Taxes, and the following forms and their instructions.

• Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return.
• Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return.
• Form 709-A, United States Short Form Gift Tax Return.

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