{"id":9414,"date":"2022-10-18T17:33:45","date_gmt":"2022-10-18T21:33:45","guid":{"rendered":"https:\/\/resources.evans-legal.com\/?p=9414"},"modified":"2022-10-18T17:33:46","modified_gmt":"2022-10-18T21:33:46","slug":"official-inflation-adjustments-for-2023","status":"publish","type":"post","link":"https:\/\/resources.evans-legal.com\/?p=9414","title":{"rendered":"Official Inflation Adjustments for 2023"},"content":{"rendered":"\n<p>The Internal Revenue Service has released\u00a0<a href=\"https:\/\/www.irs.gov\/pub\/irs-drop\/rp-22-38.pdf\">Rev. Proc. 2022-38<\/a>\u00a0with inflation adjustments for 2023 and, consistent with\u00a0<a href=\"https:\/\/resources.evans-legal.com\/?p=9359\">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 federal estate tax base applicable exclusion amount (and generation-skipping tax exemption) will be $12,920,000 (was $12,060,000 for 2022).<\/li><li>The annual gift tax exclusion will be $17,000 (was $16,000).<\/li><li>The annual gift tax exclusion for a non-citizen spouse will be $175,000 (was $164,000).<\/li><li>The \u201c2 percent\u201d amount for purposes of section 6166 will be $1,750,000 (was $1,640,000).<\/li><li>The limitation on the special use valuation reduction under section 2032A will be $1,310,000 (was $1,230,000).<\/li><li>The top (37%) income tax bracket for estates and trusts will begin at $14,450 (was $13,450).<\/li><li>The alternative minimum tax exemption for estates and trusts will be $28,400 (was $26,500), and the phaseout of the exemption will start at $94,600 (was $88,300).<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The Internal Revenue Service has released\u00a0Rev. Proc. 2022-38\u00a0with inflation adjustments for 2023 and, consistent with\u00a0earlier predictions, the changes in the most significant federal estate and trust planning numbers will be as follows: The federal estate tax base applicable exclusion amount &hellip; <a class=\"more-link\" href=\"https:\/\/resources.evans-legal.com\/?p=9414\">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-9414","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\/9414","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=9414"}],"version-history":[{"count":1,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=\/wp\/v2\/posts\/9414\/revisions"}],"predecessor-version":[{"id":9415,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=\/wp\/v2\/posts\/9414\/revisions\/9415"}],"wp:attachment":[{"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9414"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9414"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9414"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}