More good news on the estate tax front. The IRS announced an inflation adjustment increase of $40,000 for 2017 for the estate and gift tax exemption. In 2017, the exemption is $5,490,000 per individual, and for a married couple $10,980,000. Since 2012, the exemption amount has been $5 million per person, adjusted for inflation each year. The annual exclusion amount remains at $14,000.