Inflation-Adjusted Tax Figures Released for 2018

Thomas Reuters Checkpoint, as well as other tax news outlets, have released inflation-adjusted estimates to key tax figures for 2018. The adjustments, which prevent the loss of tax benefits due to inflation, will ease the tax burden slightly for many taxpayers. These estimates precede the official figures, which are set to be released by the IRS in the coming weeks.

Among the estimates published by the Thomson Reuters are:

  • The minimum charitable contribution and maximum cost of a token gift offered in return are estimated to increase in 2018 to $54.50 and $10.90 respectively (up from $53.50 and $10.70 for 2017).
  • The payment or reimbursement limit for qualified small employer health reimbursement arrangements (QSEHRAs) is estimated to increase in 2018 to $5,050 (up from $4,950 for 2017) for employee-only arrangements and to $10,250 (up from $10,000 for 2017) for arrangements that provide for payments or reimbursements for family members.

Update: The official inflation-adjusted figures were released by the IRS on October 19, 2017. Read more here.

This text is provided with the understanding that ECFA is not rendering legal, accounting, or other professional advice or service. Professional advice on specific issues should be sought from an accountant, lawyer, or other professional.


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