美國星聚傳媒

What’s new from the IRS in 2013?
Annual Gift Tax Exclusion 1
· The 2013 annual gift tax exclusion amount will increase for the first time since 2009 to $14,000 per gift to a non-spouse, and $143,000, up from $139,000 for gifts made to a spouse who is not a U.S. citizen. Gifts to a spouse who is a U.S. citizen remain exempt from gift taxes due to the unlimited marital deduction.
Retirement Plan Contributions2
· The limitation on elective deferrals (salary reduction contributions) under 401(k), 403(b), and most 457(b) plans, as well as the federal government’s Thrift Savings Plan, is increased from $17,000 to $17,500.
· The limit on “catch-up contributions” for those who are age 50 and over remains unchanged at $5,500 ($2,500 for SIMPLE Plans; $1,000 for IRAs).
· The limit on compensation that may be taken into account under a plan is $255,000, up from $250,000.
· The overall limitation on “annual additions” to a participant’s account under a defined contribution plan is increased from $50,000 to $51,000.
· The basic limitation on the annual benefits under a defined benefit plan is increased from $200,000 to $205,000.
· The dollar thresholds for determining who is a “highly compensated employee” and which officers are “key employees” remain at $115,000 and $165,000, respectively.
· The contribution limitation applicable to SIMPLE IRAs and 401(k)’s increases from $11,500 to $12,000.
· The minimum compensation that may be required for participation in a SEP is unchanged at $550.
IRA Contributions2
· Deductions for IRA contributions will phase out between $59,000 and $69,000 of AGI (previously $58,000-68,000) for single individuals and unmarried heads of household who are covered by an employer’s retirement plan; for married couples filing joint returns, the phase-out occurs between $95,000 and $115,000 of AGI (previously $92,000-112,000) where the contributing spouse is covered by an employer’s plan, or between $178,000 and $188,000 (previously $173,000-183,000) where only the noncontributing spouse is covered by an employer’s plan.
· The phase-out for taxpayers making contributions to a Roth IRA occurs between $178,000 and $188,000 (previously $173,000-183,000) for married couples filing jointly, and between $112,000 and $127,000 (previously $110,000-125,000) for unmarried individuals. (For married individuals filing a separate return and who are covered by an employer’s retirement plan, the phase-out range remains at $0 to $10,000.)
· The maximum contribution to traditional or Roth IRAs increases from $5,000 to $5,500.
Social Security Wage Base
· The Social Security Taxable Wage Base increases to $113,700 from $110,100.
1 http://www.irs.gov/uac/2013-Inflation-Adjustments-to-Various-Tax-Benefits
2 http://www.irs.gov/uac/2013-Pension-Plan-Limitations