{"id":5510,"date":"2018-03-03T16:50:44","date_gmt":"2018-03-03T21:50:44","guid":{"rendered":"http:\/\/resources.evans-legal.com\/?p=5510"},"modified":"2018-03-03T16:50:44","modified_gmt":"2018-03-03T21:50:44","slug":"revised-inflation-adjustments-for-2018","status":"publish","type":"post","link":"https:\/\/resources.evans-legal.com\/?p=5510","title":{"rendered":"Revised Inflation Adjustments for 2018"},"content":{"rendered":"<p>The Internal Revenue Service has released <a href=\"https:\/\/www.irs.gov\/irb\/2018-10_IRB#RP-2018-18\">Rev. Proc. 2018-18<\/a>,\u00a0<a href=\"https:\/\/www.irs.gov\/pub\/irs-irbs\/irb18-10.pdf\">2018-10 I.R.B.<\/a> 392 (3\/5\/2018), which modifies and supersedes certain sections of <a href=\"https:\/\/www.irs.gov\/irb\/2017-45_IRB#RP-2017-58\">Rev. Proc. 2017-58<\/a>, <a href=\"https:\/\/www.irs.gov\/pub\/irs-irbs\/irb17-45.pdf\">2017-45 I.R.B.<\/a> 489 (11\/6\/2017), to reflect changes made by <a href=\"https:\/\/www.congress.gov\/115\/bills\/hr1\/BILLS-115hr1enr.pdf\">P.L. 115-97<\/a> (originally titled and still popularly known as the &#8220;Tax Cuts and Jobs Act&#8221;).\u00a0 The new Revenue Procedure contains revised inflation adjustments to reflect the change to &#8220;chained CPI&#8221; for 2018, as well as the changes made by P.L. 115-97 to brackets and amounts that had been published in Rev. Proc. 2017-58.<\/p>\n<p>As <a href=\"http:\/\/resources.evans-legal.com\/?p=5316\">previously predicted<\/a>, the unified estate and gift tax exclusion amount is $11,180,000 for 2018, but other gift and estate tax amounts will remain the same as original announced in Rev. Proc. 2017-58.\u00a0 (So for example, the annual gift tax exclusion is still $15,000 in 2018 despite the change to chained CPI.)<\/p>\n<p>The <a href=\"http:\/\/resources.evans-legal.com\/?p=5316\">previously published summary of P.L. 115-97<\/a> has been revised to reflect the publication of Rev. Proc. 2018-18.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Internal Revenue Service has released Rev. Proc. 2018-18,\u00a02018-10 I.R.B. 392 (3\/5\/2018), which modifies and supersedes certain sections of Rev. Proc. 2017-58, 2017-45 I.R.B. 489 (11\/6\/2017), to reflect changes made by P.L. 115-97 (originally titled and still popularly known as &hellip; <a class=\"more-link\" href=\"https:\/\/resources.evans-legal.com\/?p=5510\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"pmpro_default_level":"","footnotes":""},"categories":[29],"tags":[327,333],"class_list":["post-5510","post","type-post","status-publish","format-standard","hentry","category-news-items","tag-federal-estate-tax","tag-federal-gift-tax","pmpro-has-access"],"_links":{"self":[{"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=\/wp\/v2\/posts\/5510","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5510"}],"version-history":[{"count":1,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=\/wp\/v2\/posts\/5510\/revisions"}],"predecessor-version":[{"id":5511,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=\/wp\/v2\/posts\/5510\/revisions\/5511"}],"wp:attachment":[{"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5510"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5510"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5510"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}