These inflation adjustments generally apply to tax years beginning in 2021, so they affect most returns that will be filed in 2022. The IRS also provided inflation-adjusted amounts for the The maximum foreign earned income exclusion amount in 2021 is $108,700. the maximum reduction for real property under the special valuation method is $1,190,000.Ģ021 Inflation Adjustments for Other Tax Items.the federal estate tax exclusion is $11,700,000 and.the gift tax exclusion is $15,000 per donee, or $159,000 for gifts to spouses who are not U.S. ![]() The following inflation adjustments apply to federal estate and gift taxes in 2021 are However, this dollar limit is reduced when the Section 179 property placed in service during the year exceeds $2,620,000.
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