Inflation Adjusted Limits and Thresholds

One of our authors, Paul Winn, recently sent me tax information.
The IRS recently sent notification of modified revisions of inflation-adjusted limits and thresholds to reflect the change in calculating inflation from the previous method to the Chained Consumer Price Index prescribed under the Tax Cuts and Jobs Act.  Here are some the changed items :

Limit

Original Inflation Adjustment

Revised Inflation Adjustment

HSA contribution limits for individuals with family HDHP coverage (other HSA limits are unaffected) $6,900 $6,850
Archer MSA

Self-only coverage out-of-pocket limit

Family coverage annual deductible

(other MSA limits are unaffected)

 

$4,600

$4,600

 

$4,550

$4,550

Adoption Assistance Exclusion and Adoption Credit

Phase-out begins at MAGI of

Completely phased out at MAGI of

$13,840

$207,580

$247,580

$13,810

$207,140

$247,180

Small Business Health Care Tax Credit

Phase-out begins at average annual wages

Phased out complete at average annual wages

 

$26,700

$53,400

 

$26,600

$53,400

Estate exclusion (for federal estate taxes) $11,200,000 $11,180

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