All Inflation Adjusted Amounts

Individuals

Additional Standard Deduction – Aged or Blind Individuals

$1,500

Additional Standard Deduction – Unmarried Individuals not a Surviving Spouse

$1,850

Adoption Assistance Programs – Exclusion amount for the adoption of a child with special needs

$15,950

Adoption Assistance Programs – Phase out end for modified adjusted gross income

$279,230

Adoption Assistance Programs – Phase out start for modified adjusted gross income

$239,230

Adoption Credit – Amount

$15,950

Adoption Credit – Phaseouts

The Adoption Credit phased out for taxpayers with modified adjusted gross income in excess of $239,230 and completely phased out for taxpayers with modified adjusted gross income of $279,230 or more.

Annual Exclusion for Gifts – Gifts to a spouse who is not a citizen of the United States

$175,000

Applicable Exclusion Amount for Estate and Gift Tax – Applicable Exclusion Amount

$12,920,000

Applicable Exclusion Amount for Estate and Gift Tax – Credit Amount

$5,113,800

Cafeteria Plans – Maximum carryover amount for unused health flexible spending arrangement funds

$610

Cafeteria Plans – Voluntary employee salary reduction contribution limit for health flexible spending arrangements

$3,050

Child Tax Credit – The amount used to determine the refundable portion of the Child Tax Credit.

$1,600

Credits and Deductions – Special rules deduction amount

$4,700

Earned Income Credit – Completed Phaseout Amount for Married Filing Jointly with No Qualifying Children

$24,210

Earned Income Credit – Completed Phaseout Amount for Married Filing Jointly with One Qualifying Child

$53,120

Earned Income Credit – Completed Phaseout Amount for Married Filing Jointly with Three or More Qualifying Children

$63,398

Earned Income Credit – Completed Phaseout Amount for Married Filing Jointly with Two Qualifying Children

$59,478

Earned Income Credit – Completed Phaseout Amount for Single, Surviving Spouse, or Head of Household with No Qualifying Children

$17,640

Earned Income Credit – Completed Phaseout Amount for Single, Surviving Spouse, or Head of Household with One Qualifying Child

$46,560

Earned Income Credit – Completed Phaseout Amount for Single, Surviving Spouse, or Head of Household with Three or More Qualifying Children

$56,838

Earned Income Credit – Completed Phaseout Amount for Single, Surviving Spouse, or Head of Household with Two Qualifying Children

$52,918

Earned Income Credit – Earned Income Amount for No Qualifying Children

$7,840

Earned Income Credit – Earned Income Amount for One Qualifying Child

$11,750

Earned Income Credit – Earned Income Amount for Three or More Qualifying Children

$16,510

Earned Income Credit – Earned Income Amount for Two Qualifying Children

$16,510

Earned Income Credit – Excessive Investment Income Limit

$11,000

Earned Income Credit – Maximum Credit Amount for No Qualifying Children

$600

Earned Income Credit – Maximum Credit Amount for One Qualifying Child

$3,995

Earned Income Credit – Maximum Credit Amount for Three or More Qualifying Children

$7,430

Earned Income Credit – Maximum Credit Amount for Two Qualifying Children

$6,604

Earned Income Credit – Threshold Phaseout Amount for Married Filing Jointly with No Qualifying Children

$16,370

Earned Income Credit – Threshold Phaseout Amount for Married Filing Jointly with One Qualifying Child

$28,120

Earned Income Credit – Threshold Phaseout Amount for Married Filing Jointly with Three or More Qualifying Children

$28,120

Earned Income Credit – Threshold Phaseout Amount for Married Filing Jointly with Two Qualifying Children

$28,120

Earned Income Credit – Threshold Phaseout Amount for Single, Surviving Spouse, or Head of Household with No Qualifying Children

$9,800

Earned Income Credit – Threshold Phaseout Amount for Single, Surviving Spouse, or Head of Household with One Qualifying Child

$21,560

Earned Income Credit – Threshold Phaseout Amount for Single, Surviving Spouse, or Head of Household with Three or More Qualifying Children

$21,560

Earned Income Credit – Threshold Phaseout Amount for Single, Surviving Spouse, or Head of Household with Two Qualifying Children

$21,560

Elementary and Secondary School Teachers – Allowed deduction for qualified expenses

$300

Eligible Long-Term Care Premiums – Limitation for age 40 or less

$480

Eligible Long-Term Care Premiums – Limitation for ages more than 40 but not more than 50

$890

Eligible Long-Term Care Premiums – Limitation for ages more than 50 but not more than 60

$1,790

Eligible Long-Term Care Premiums – Limitation for ages more than 60 but not more than 70

$4,770

Eligible Long-Term Care Premiums – Limitation for ages more than 70

$5,960

ERISA and Tax Code Pension and Retirement Plan Limits – Catch-Up Contribution Limit for Participants Age 50 or Older

$7,500

ERISA and Tax Code Pension and Retirement Plan Limits – Qualified Plans – Annual Compensation Limit

$330,000

ERISA and Tax Code Pension and Retirement Plan Limits – §401(k), §403(b), & §457

$22,500

Estate Tax – 2-percent portion for calculating interest on estate tax payable in installments

$1,750,000

Estate Tax – Limit on value decrease for qualified real property under special use valuation

$1,310,000

Estate Tax – Unified credit against estate tax basic exclusion amount

$12,920,000

Exemption Amounts for Alternative Minimum Tax – Complete phaseout amount for Estates and Trusts

$208,200

Exemption Amounts for Alternative Minimum Tax – Complete phaseout amount for Joint Returns or Surviving Spouses

$1,662,300

Exemption Amounts for Alternative Minimum Tax – Complete phaseout amount for Married Individuals Filing Separate Returns

$831,150

Exemption Amounts for Alternative Minimum Tax – Complete phaseout amount for Unmarried Individuals (other than Surviving Spouses)

$903,350

Exemption Amounts for Alternative Minimum Tax – Estates and Trusts

$28,400

Exemption Amounts for Alternative Minimum Tax – Excess taxable income above which the 28 percent tax rate applies for All Other Taxpayers

$220,700

Exemption Amounts for Alternative Minimum Tax – Excess taxable income above which the 28 percent tax rate applies for Married Individuals Filing Separate Returns

$110,350

Exemption Amounts for Alternative Minimum Tax – Joint Returns or Surviving Spouses

$126,500

Exemption Amounts for Alternative Minimum Tax – Married Individuals Filing Separate Returns

$63,250

Exemption Amounts for Alternative Minimum Tax – Threshold phaseout amount for Estates and Trusts

$94,600

Exemption Amounts for Alternative Minimum Tax – Threshold phaseout amount for Joint Returns or Surviving Spouses

$1,156,300

Exemption Amounts for Alternative Minimum Tax – Threshold phaseout amount for Married Individuals Filing Separate Returns

$578,150

Exemption Amounts for Alternative Minimum Tax – Threshold phaseout amount for Unmarried Individuals (other than Surviving Spouses)

$578,150

Exemption Amounts for Alternative Minimum Tax – Unmarried Individuals (other than Surviving Spouses)

$81,300

Expatriation – Average annual net income tax limit for covered expatriates

$190,000

Expatriation – Reduction amount for covered expatriate gross income

$821,000

Foreign Earned Income – Exclusion amount

$120,000

Foreign Earned Income – Maximum Foreign Earned Income Exclusion

$120,000

Foreign Gift Reporting – Threshold for reporting large gifts from foreign persons

$18,567

Gift Tax Annual Exclusion – Applicable Exclusion Amount

$17,000

Gift Tax Annual Exclusion – Married Couples Amount

$34,000

Health Savings Accounts – Contribution Limits – Age 55+ Catch-up

$1,000

Health Savings Accounts – Contribution Limits – Family

$7,750

Health Savings Accounts – Contribution Limits – Single

$3,850

Income from U.S. Savings Bonds – Complete phaseout modified adjusted gross income for all other returns paying higher education expenses

$106,850

Income from U.S. Savings Bonds – Complete phaseout modified adjusted gross income for joint returns paying higher education expenses

$167,800

Income from U.S. Savings Bonds – Phaseout starting modified adjusted gross income for all other returns paying higher education expenses

$91,850

Income from U.S. Savings Bonds – Phaseout starting modified adjusted gross income for joint returns paying higher education expenses

$137,800

Individual Tax Amounts – Per diem limitation under § 7702B(d)(4) for periodic payments received under a qualified long-term care insurance contract

$420

Interest on Education Loans – Deduction phase-out end for MFJ filers

$185,000

Interest on Education Loans – Deduction phase-out end for single filers

$90,000

Interest on Education Loans – Deduction phase-out start for MFJ filers

$155,000

Interest on Education Loans – Deduction phase-out start for single filers

$75,000

Kiddie Tax – Amount used to reduce the net unearned income subject to “kiddie tax”.

$1,250

Kiddie Tax – Maximum gross income threshold for parental election to include a child’s income.

$12,500

Kiddie Tax – Minimum gross income for parental election to include a child’s income.

$1,250

Maximum Capital Gains Rate – The maximum 15 percent rate amount for all other individuals.

$492,300

Maximum Capital Gains Rate – The maximum 15 percent rate amount for Estates and Trusts.

$14,650

Maximum Capital Gains Rate – The maximum 15 percent rate amount for Heads of Household.

$523,050

Maximum Capital Gains Rate – The maximum 15 percent rate amount for Married Filing Jointly and Surviving Spouse.

$553,850

Maximum Capital Gains Rate – The maximum 15 percent rate amount for Married Filing Separately.

$276,900

Maximum Capital Gains Rate – The maximum zero rate amount for all other individuals.

$44,625

Maximum Capital Gains Rate – The maximum zero rate amount for Estates and Trusts.

$3,000

Maximum Capital Gains Rate – The maximum zero rate amount for Heads of Household.

$59,750

Maximum Capital Gains Rate – The maximum zero rate amount for Married Filing Jointly and Surviving Spouse.

$89,250

Maximum Capital Gains Rate – The maximum zero rate amount for Married Filing Separately.

$44,625

Medical Savings Accounts – Maximum annual deductible for family coverage

$7,900

Medical Savings Accounts – Maximum annual deductible for self-only coverage

$3,950

Medical Savings Accounts – Maximum annual out-of-pocket expenses for family coverage

$9,650

Medical Savings Accounts – Maximum annual out-of-pocket expenses for self-only coverage

$5,300

Medical Savings Accounts – Minimum annual deductible for family coverage

$5,300

Medical Savings Accounts – Minimum annual deductible for self-only coverage

$2,650

Qualified Business Income – Phase-in range amount for All Other returns

$232,100

Qualified Business Income – Phase-in range amount for Married Filing Joint returns

$464,200

Qualified Business Income – Phase-in range amount for Married Filing Separate returns

$232,100

Qualified Business Income – Threshold amount for All Other returns

$182,100

Qualified Business Income – Threshold amount for Married Filing Joint returns

$364,200

Qualified Business Income – Threshold amount for Married Filing Separate returns

$182,100

Qualified Transportation Fringe Benefit – Monthly limitation for qualified parking exclusion amount

$300

Qualified Transportation Fringe Benefit – Monthly limitation for transportation in a commuter highway vehicle and any transit pass

$300

Qualifying Relative – Gross income limitation exemption amount

$4,700

Refundable Credit for Coverage Under a Qualified Health Plan – Limitation amount for all other taxpayers with household income at least 200% but less than 300%

$1,800

Refundable Credit for Coverage Under a Qualified Health Plan – Limitation amount for all other taxpayers with household income at least 300% but less than 400%

$3,000

Refundable Credit for Coverage Under a Qualified Health Plan – Limitation amount for all other taxpayers with household income less than 200%

$700

Refundable Credit for Coverage Under a Qualified Health Plan – Limitation amount for unmarried individuals (other than surviving spouses and heads of household) with household income at least 200% but less than 300%

$900

Refundable Credit for Coverage Under a Qualified Health Plan – Limitation amount for unmarried individuals (other than surviving spouses and heads of household) with household income at least 300% but less than 400%

$1,500

Refundable Credit for Coverage Under a Qualified Health Plan – Limitation amount for unmarried individuals (other than surviving spouses and heads of household) with household income less than 200%

$350

Roth IRAs – Deduction Phase-Out Range (Modified AGI) – Married Filing Jointly

$218,000-$228,000

Roth IRAs – Deduction Phase-Out Range (Modified AGI) – Married Filing Separately

$0-$10,000

Roth IRAs – Deduction Phase-Out Range (Modified AGI) – Single or Head of Household

$138,000-$153,000

Social Security and Self-Employment Tax Limit

$160,200

Standard Deduction – All Other Taxpayers

$13,850

Standard Deduction – Dependent Individual Cap

greater of $1,250 or sum of $400 and the individual’s earned income

Standard Deduction – Heads of Households

$20,800

Standard Deduction – Heads of Households

$20,800

Standard Deduction – Married Filing Jointly and Surviving Spouses

$27,700

Standard Deduction – Married Individuals Filing Joint Returns and Surviving Spouses

$27,700

Standard Deduction – Married Individuals Filing Separate Returns

$13,850

Standard Deduction – Unmarried Individuals (not Surviving Spouses or Head of Households)

$13,850

Tax Penalties – Minimum penalty for failure to file income tax return within 60 days of due date

Lesser of $485 or 100%

Traditional IRAs & Roth IRAs Catch-Up Contribution for Participants Age 50 or Older

$1,000

Traditional IRAs & Roth IRAs Contribution Limits

$6,500

Traditional IRAs – Deduction Phase-Out Range (Modified AGI) – Married Filing Jointly and Participant in Employer Plan

$116,000-$136,000

Traditional IRAs – Deduction Phase-Out Range (Modified AGI) – Married Filing Jointly and Spouse in Employer Plan

$218,000-$228,000

Traditional IRAs – Deduction Phase-Out Range (Modified AGI) – Single or Head of Household and in Employer Plan

$73,000-$83,000

Wages and Salary – Exempt amount for calculation under § 6334(d)(4)(B)

$4,700

Business

Agricultural Bonds – Loan limit amount for first-time farmers

$616,100

Business Tax – Calendar Year Maximum penalty for correction after 30th day but on or before August 1, 2024 for large businesses under § 6721(b)(2)

$1,891,500

Business Tax – Calendar Year Maximum penalty for correction after 30th day but on or before August 1, 2024 for small businesses under § 6721(d)(1)(C)

$630,500

Business Tax – Calendar Year Maximum penalty for correction on or before 30 days after required filing date for large businesses under § 6721(b)(1)

$630,500

Business Tax – Calendar Year Maximum penalty for correction on or before 30 days after required filing date for small businesses under § 6721(d)(1)(B)

$220,500

Business Tax – Calendar Year Maximum penalty for large businesses under § 6721(a)(1)

$3,783,000

Business Tax – Calendar Year Maximum penalty for small businesses under § 6721(d)(1)(A)

$1,261,000

Business Tax – General Rule for large businesses penalty per return under § 6721(a)(1)

$310

Business Tax – General Rule for small businesses penalty per return under § 6721(d)(1)(A)

$310

Business Tax – Penalty for intentional disregard of filing requirement for returns other than those required under specific sections under § 6721(e)(2)(A)

Greater of $630 or 10% of aggregate

Business Tax – Penalty for intentional disregard of filing requirement for returns required under specific sections under § 6721(e)(2)(B)

Greater of $630 or 5% of aggregate

Business Tax – Penalty for intentional disregard of filing requirement for returns required under § 6050I(a) under § 6721(e)(2)(C)

Greater of $31,520 or the amount of cash received up to $126,000

Business Tax – Penalty for intentional disregard of filing requirement for returns required under § 6050V under § 6721(e)(2)(D)

Greater of $630 or 10% of contract value

Business Tax – Penalty per return for correction after 30th day but on or before August 1, 2024 for large businesses under § 6721(b)(2)

$120

Business Tax – Penalty per return for correction after 30th day but on or before August 1, 2024 for small businesses under § 6721(d)(1)(C)

$120

Business Tax – Penalty per return for correction on or before 30 days after required filing date for large businesses under § 6721(b)(1)

$60

Business Tax – Penalty per return for correction on or before 30 days after required filing date for small businesses under § 6721(d)(1)(B)

$60

Business Tax Amounts – Qualified small employer health reimbursement arrangement limit for family coverage under § 9831(d)

$11,800

Business Tax Amounts – Qualified small employer health reimbursement arrangement limit for individual coverage under § 9831(d)

$5,850

Cash Method of Accounting – Gross receipts test limit

$29,000,000

Charitable Contributions – Insubstantial benefits return limits for full deduction

$12.50, $62.50, $125

Charitable Contributions – Low cost article limit for certain exempt organizations

$12.50 or less

Debt Instruments – Limits on principal of qualified and cash method debt instruments

$6,734,800; $4,810,600

Dues to Agricultural Organizations – Limitation on exemption

$191

Election to Expense – Maximum Section 179 property cost

$1,160,000

Election to Expense – Phase-out start for Section 179 property cost

$2,890,000

Election to Expense – SUV cost limitation under Section 179

$28,900

Employee Health Insurance Expense of Small Employers – Dollar amount in effect for limiting the small employer health insurance credit

$30,700

Energy Efficient Commercial Building Deduction – Base applicable dollar value

$0.54

Energy Efficient Commercial Building Deduction – Base applicable dollar value for certain property

$2.68

Energy Efficient Commercial Building Deduction – Maximum value increase per percentage point reduction

$1.07

Energy Efficient Commercial Building Deduction – Maximum value increase per percentage point reduction for certain property

$5.36

ERISA and Tax Code Pension and Retirement Plan Limits – Defined Contribution — Maximum Annual Addition

$66,000

ERISA and Tax Code Pension and Retirement Plan Limits – SIMPLE IRS 50 or Older Additional Catch Up Amount

$3,500

ERISA and Tax Code Pension and Retirement Plan Limits – SIMPLE IRS Contribution Limit

$15,500

Excess Business Loss – Limit for individual filers

$289,000

Excess Business Loss – Limit for MFJ filers

$578,000

Failure to File Penalty – Partnership Return

$235

Failure to File Penalty – S Corporation Return

$235

First-Year Expensing Limits – §179 Expensing Limit

$1,160,000

First-Year Expensing Limits – §179 Property Cost Phaseout Begins

$2,890,000

General Arbitrage Rebate Rules – Computation credit amount

$1,960

Low-Income Housing Credit – Amount used to calculate the State housing credit ceiling

$3,185,000

Private Activity Bonds – State ceiling volume cap calculation

$358,845,000

Rehabilitation Expenditures Treated as Separate New Building – Per low-income unit qualified basis amount

$7,900

Safe Harbor Rules for Broker Commissions – Lesser of limit for qualified administrative cost

$46,000

Safe Harbor Rules for Broker Commissions – Maximum total brokers’ commissions treated as qualified administrative costs

$130,000

Safe Harbor Rules for Broker Commissions – Minimum fee treated as a qualified administrative cost

$5,000

Standard Mileage Rate

65.5

Tax on Insurance Companies – Alternative tax election limit for small companies

$2,650,000

RPP

Maximum Other Assessable Penalties – Failure to file correct information returns

$30,000

Maximum Other Assessable Penalties – Failure to furnish copy to taxpayer

$30,000

Maximum Other Assessable Penalties – Failure to furnish identifying number

$30,000

Maximum Other Assessable Penalties – Failure to retain copy or list

$30,000

Maximum Other Assessable Penalties – Failure to sign return

$30,000

Other Assessable Penalties – Failure to be diligent in determining eligibility for head of household filing status, child tax credit, American Opportunity tax credit, and earned income credit

$600

Other Assessable Penalties – Failure to file correct information returns (per return and item in return)

$60

Other Assessable Penalties – Failure to furnish copy to taxpayer

$60

Other Assessable Penalties – Failure to furnish identifying number

$60

Other Assessable Penalties – Failure to retain copy or list

$60

Other Assessable Penalties – Failure to sign return

$60

Other Assessable Penalties – Negotiation of check (per check)

$600

Representation, Practices & Procedures – Amount of serious delinquent tax debt under § 7345 for passport revocation or denial

$59,000

Representation, Practices & Procedures – Maximum calendar year penalty if corrected after 30th day but on or before August 1 for gross receipts > $5M

$1,891,500

Representation, Practices & Procedures – Maximum calendar year penalty if corrected after 30th day but on or before August 1 for gross receipts ? $5M

$630,500

Representation, Practices & Procedures – Maximum calendar year penalty if corrected within 30 days for gross receipts > $5M

$630,500

Representation, Practices & Procedures – Maximum calendar year penalty if corrected within 30 days for gross receipts ? $5M

$220,500

Representation, Practices & Procedures – Maximum calendar year penalty under General Rule for gross receipts > $5M

$3,783,000

Representation, Practices & Procedures – Maximum calendar year penalty under General Rule for gross receipts ? $5M

$1,261,000

Representation, Practices & Procedures – Penalty for intentional disregard of furnishing payee statements

Greater of $630 or 10% of aggregate amount

Representation, Practices & Procedures – Penalty per statement if corrected after 30th day but on or before August 1 for gross receipts > $5M

$120

Representation, Practices & Procedures – Penalty per statement if corrected after 30th day but on or before August 1 for gross receipts ? $5M

$120

Representation, Practices & Procedures – Penalty per statement if corrected within 30 days for gross receipts > $5M

$60

Representation, Practices & Procedures – Penalty per statement if corrected within 30 days for gross receipts ? $5M

$60

Representation, Practices & Procedures – Penalty per statement under General Rule for gross receipts > $5M

$310

Representation, Practices & Procedures – Penalty per statement under General Rule for gross receipts ? $5M

$310