{"id":8885,"date":"2021-11-10T10:56:57","date_gmt":"2021-11-10T15:56:57","guid":{"rendered":"https:\/\/resources.evans-legal.com\/?p=8885"},"modified":"2021-11-10T11:15:48","modified_gmt":"2021-11-10T16:15:48","slug":"official-inflation-adjustments-for-2022","status":"publish","type":"post","link":"https:\/\/resources.evans-legal.com\/?p=8885","title":{"rendered":"Official Inflation Adjustments for 2022"},"content":{"rendered":"\n<p>The Internal Revenue Service has released\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/www.irs.gov\/pub\/irs-drop\/rp-21-45.pdf\" target=\"_blank\">Rev. Proc. 2021-45<\/a>\u00a0with inflation adjustments for 2022 and, consistent with\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/resources.evans-legal.com\/?p=8805\" target=\"_blank\">earlier predictions<\/a>, the changes in the most significant federal estate and trust planning numbers will be as follows:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The base applicable exclusion amount (and generation-skipping tax exemption) will be $12,060,000 (was $11,700,000 for 2021).<\/li><li>The annual gift tax exclusion will be $16,000 (had been $15,000 since 2018).<\/li><li>The annual gift tax exclusion for a non-citizen spouse will be $164,000 (was $159,000).<\/li><li>The \u201c2 percent\u201d amount for purposes of section 6166 will be $1,640,000 (was $1,590,000).<\/li><li>The limitation on the special use valuation reduction under section 2032A will be $1,230,000 (was $1,190,000).<\/li><li>The top (37%) income tax bracket for estates and trusts will begin at $13,450 (was $13,050).<\/li><li>The capital gains tax zero rate amount is $2,800 for an estate or trust (was $2,700) and the maximum 15 percent rate amount is $13,700 (was $13,250).<\/li><li>The alternative minimum tax exemption for estates and trusts will be $26,500 (was $25,700), and the phaseout of the exemption will start at $88,300 (was $85,650) and the phaseout be complete at $194,300 (was $188,450).  The excess taxable income above which the 28 percent rate applies will be $206,100 (was $199,900).<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The Internal Revenue Service has released\u00a0Rev. Proc. 2021-45\u00a0with inflation adjustments for 2022 and, consistent with\u00a0earlier predictions, the changes in the most significant federal estate and trust planning numbers will be as follows: The base applicable exclusion amount (and generation-skipping tax &hellip; <a class=\"more-link\" href=\"https:\/\/resources.evans-legal.com\/?p=8885\">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":[327,333,359,597],"class_list":["post-8885","post","type-post","status-publish","format-standard","hentry","category-news-items","tag-federal-estate-tax","tag-federal-gift-tax","tag-federal-income-tax","tag-fiduciary-income-tax","pmpro-has-access"],"_links":{"self":[{"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=\/wp\/v2\/posts\/8885","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=8885"}],"version-history":[{"count":4,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=\/wp\/v2\/posts\/8885\/revisions"}],"predecessor-version":[{"id":8889,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=\/wp\/v2\/posts\/8885\/revisions\/8889"}],"wp:attachment":[{"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}