Sunday, November 02, 2014

Some 2015 Inflation Adjustments

Section 877A(g)(1)(A) 5 year average income threshold for being a covered expatriate $160,000
Section 877A(a)(1) covered expatriate gross income exclusion $690,000
Section 911 earned income exclusion $100,800
Section 2010 unified credit basic exclusion amount $5,430,000
Section 2503 annual exclusion amount $14,000 (unchanged)
Sections 2503 and 2523 annual exclusion amount for gifts to noncitizen spouses $147,000
Section 4161 tax on arrow shafts $0.49 (bet you didn’t know there was such a thing)
Section 6039F large gift from foreign persons reporting threshold $15,601
Section 6601(j) 2% interest portion under Section 6601 $1,470,000

Rev.Proc 2014-61

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