{"id":7177,"date":"2019-09-12T11:01:52","date_gmt":"2019-09-12T15:01:52","guid":{"rendered":"http:\/\/resources.evans-legal.com\/?p=7177"},"modified":"2019-11-06T15:22:20","modified_gmt":"2019-11-06T20:22:20","slug":"unofficial-inflation-adjustments-for-2020","status":"publish","type":"post","link":"https:\/\/resources.evans-legal.com\/?p=7177","title":{"rendered":"Unofficial Inflation Adjustments for 2020"},"content":{"rendered":"\n<p>With the release of the Chained Consumer Price Index (C-CPI-U) for August 2019, it\u2019s possible to calculate various inflation adjustments for 2020. The following are the significant federal estate planning numbers, with the numbers for 2019 shown in parentheses:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The base applicable exclusion amount (and generation-skipping tax exemption) will be $11,580,000 (was $11,400,000 for 2019).<\/li><li>The annual gift tax exclusion will be $15,000 (unchanged).<\/li><li>The annual gift tax exclusion for a non-citizen spouse will be $157,000 (was $155,000).<\/li><li>The \u201c2 percent\u201d amount for purposes of section 6166 will be $1,570,000 (was $1,550,000).<\/li><li>The limitation on the special use valuation reduction under section 2032A will be $1,180,000 (was $1,160,000).<\/li><li>The top (37%) income tax bracket for estates and trusts will begin at $12,950 (was $12,750).<\/li><li>The alternative minimum tax exemption for estates and trusts will be $25,400 (was $25,000), and the phaseout of the exemption will start at $84,800 (was $83,500).<\/li><\/ul>\n\n\n\n<p>The Internal Revenue Service will publish the official inflation adjustments in a Revenue Procedure in 4-8 weeks.<\/p>\n\n\n\n<p>Update (11\/6\/2019):  The Internal Revenue Service has published <a href=\"https:\/\/www.irs.gov\/pub\/irs-drop\/rp-19-44.pdf\">Rev. Proc. 2019-44<\/a> with the official inflation adjustments for 2020, and the official adjustments match the unofficial adjustments shown above.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>With the release of the Chained Consumer Price Index (C-CPI-U) for August 2019, it\u2019s possible to calculate various inflation adjustments for 2020. The following are the significant federal estate planning numbers, with the numbers for 2019 shown in parentheses: The &hellip; <a class=\"more-link\" href=\"https:\/\/resources.evans-legal.com\/?p=7177\">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":[327,481,333,359],"class_list":["post-7177","post","type-post","status-publish","format-standard","hentry","category-news-items","tag-federal-estate-tax","tag-federal-generation-skipping-tax","tag-federal-gift-tax","tag-federal-income-tax","pmpro-has-access"],"_links":{"self":[{"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=\/wp\/v2\/posts\/7177","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=7177"}],"version-history":[{"count":5,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=\/wp\/v2\/posts\/7177\/revisions"}],"predecessor-version":[{"id":7294,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=\/wp\/v2\/posts\/7177\/revisions\/7294"}],"wp:attachment":[{"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7177"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}