The Internal Revenue Service (IRS) has issued Revenue Procedure 2013-15, which contains inflation-adjusted items for 2013 and the new income tax rate tables now in effect as a result of the American Taxpayer Relief Act of 2012. In October 2012, when the IRS issued its usual year-end inflation adjustments, it noted that many of the items normally included would have to wait until Congress acted.

Among the inflation-adjusted amounts that have increased are the personal exemption, which increased from $3,800 to $3,900, and the standard deduction, which for married filing jointly status increased from $11,900 to $12,200 in 2013. In addition, the adoption credit increased from $12,650 to $12,970. The unified credit against the estate tax was adjusted to $5.25 million for 2013.

The AMT exemption amount for 2013 is $80,800 for married taxpayers filing jointly and $51,900 for single taxpayers. The American Taxpayer Relief Act set the 2012 exemption amounts at $78,750 for married taxpayers filing jointly and $50,600 for single filers. These amounts were indexed for inflation, so Congress will no longer have to pass annual AMT patches.

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