The federal gift tax exemption amount for gifts made in the year 2022 is $12.06 million per person ($24.12 million for a married couple) up from $11.7 million in 2021. However, the exemption amount will be reduced by approximately one-half on January 1, 2026, if Congress does not act to make the higher exemption amount permanent.
For more: https://www.wbny.com/2022-trust-and-estates-updates