New Revised Inflation Adjustment for 2018

The Internal Revenue Service has released Rev. Proc. 2018-22, 2018-18 I.R.B. __ (4/30/2018), which modifies and supersedes two sections of Rev. Proc. 2018-182018-10 I.R.B. 392 (3/5/2018), which contained revised inflation adjustments for 2018.

The change that affect fiduciary income tax is the correction of the 2018 alternative minimum tax threshold amount for estates and trusts, which had been stated to be $500,000 in Rev. Proc. 2018-18 but should have been $81,900.

The previously published summary of P.L. 115-97 has been revised to reflect the publication of Rev. Proc. 2018-18.

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