Important Inflation Indexed Amounts in the Internal Revenue Code

Average annual net income tax

YearAmountAuthority
Expatriation to Avoid Tax: “average annual net income tax” amount for covered expatriate under I.R.C. § 877A(g)(2)(A) for the five taxable years ending before the expatriation date2013$155,000Rev. Proc. 2012-41
2014$157,000Rev. Proc. 2013-35
2015$160,000Rev. Proc. 2014-61
2016$161,000Rev. Proc. 2015-53
2017$162,000Rev. Proc. 2016-55
2018$165,000Rev. Proc. 2017-58
2019$168,000Rev. Proc. 2018-57
2020$171,000Rev. Proc. 2019-44

 

Tax Responsibilities of Expatriation

YearAmountAuthority
Tax Responsibilities of Expatriation: the amount that would be includible in the gross income of a covered expatriate by reason of § 877A(a)(1) is reduced (but not below zero)

 

2013$668,000Rev. Proc. 2012-41
2014$680,000Rev. Proc. 2013-35
2015$690,000Rev. Proc. 2014-61
2016$693,000Rev. Proc. 2015-53
2017$699,000Rev. Proc. 2016-55
2018$713,000Rev. Proc. 2017-58
2019$725,000Rev. Proc. 2018-57
2020$737,000Rev. Proc. 2019-44

 

Exclusion Amount for Determining the Unified Credit

YearAmountAuthority
Exclusion Amount for Determining the Unified Credit Against Estate Tax under I.R.C. § 20102013$5,250,000Rev. Proc. 2013-15
2014$5,340,000Rev. Proc. 2013-35
2015$5,430,000Rev. Proc. 2014-61
2016$5,450,000Rev. Proc. 2015-53
2017$5,490,000Rev. Proc. 2016-55
2018$5,600,000Rev. Proc. 2017-58
2019$11,400,000Rev. Proc. 2018-57
2020$11,580,000Rev. Proc. 2019-44

 

Annual Exclusion for Gifts (1) Domestic (2) Foreign

YearAmount (1)Amount (2)Authority
Annual Exclusion for Gifts: (1) the first _______ gifts to any person are not included in the total amount of taxable gifts under § 2503 made during that year. (2) the first _________ of gifts to a spouse who is not a citizen of the United States are not included in the total amount of taxable gifts under §§ 2503 and 2523(i)(2) made during that year.2013$14,000$143,000Rev. Proc. 2012-41
2014$14,000$145,000Rev. Proc. 2013-35
2015$14,000$147,000Rev. Proc. 2014-61
2016$14,000$148,000Rev. Proc. 2015-53
2017$14,000$149,000Rev. Proc. 2016-55
2018$15,000$152,000Rev. Proc. 2017-58
2019$15,000$155,000Rev. Proc. 2018-57
2020$15,000$157,000Rev. Proc. 2019-44

 

Notice of Large Gifts Received from Foreign Persons: I.R.C. § 6039F

YearAmountAuthority
Notice of Large Gifts Received from Foreign Persons: I.R.C. § 6039F2013$15,102Rev. Proc. 2012-41
2014$15,358Rev. Proc. 2013-35
2015$15,601Rev. Proc. 2014-61
2016$15,671Rev. Proc. 2015-53
2017$15,797Rev. Proc. 2016-55
2018$16,111Rev. Proc. 2017-58
2019$16,388Rev. Proc. 2018-57
2020$16,649Rev. Proc. 2019-44

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