Part I. Rulings and Decisions Under the Internal Revenue Code of 1986

Section 1.—Tax Imposed

The Service provides inflation adjustments to the tax rate tables for individuals, trusts, and estates for taxable years beginning in 2013. See Rev. Proc. 2013-15, page 444.

Section 23.—Adoption Expense

The Service provide inflation adjustment to the adoption credit allowed for the adoption of a child for taxable years beginning in 2013. The Service also provides inflation adjustments to the value used in calculating the modified adjusted gross income limitations used to determine the amount of adoption credit that is allowed in taxable years beginning in 2013. See Rev. Proc. 2013-15, page 444.

Section 24.—Child Tax Credit

The Service provides an inflation adjustment for the value used in determining the amount of the credit that may be refundable for taxable years beginning in 2013. See Rev. Proc. 2013-15, page 444.

Section 25A.—Hope and Lifetime Learning Credits

The Service provides an inflation adjustment for the amount of qualified tuition and related expenses that are taken into account in determining the amount of the Hope Scholarship Credit for taxable years beginning in 2013. Also for taxable years beginning in 2013, the Service provides an inflation adjustment for the amount of a taxpayers’ modified adjusted gross income that is taken into account in determining the reduction in the amount of the Hope Scholarship and Lifetime Learning Credits otherwise available. See Rev. Proc. 2013-15, page 444.

Section 32.—Earned Income

The Service provides inflation adjustments to the limitations on the earned income credit for taxable

years beginning in 2013. See Rev. Proc. 2013-15, page 444.

Section 55.—Alternative Minimum Tax Imposed

The Service provides an inflation adjustment for the exemption amounts for the alternative minimum tax for taxable years beginning in 2013. Also for taxable years beginning in 2013, the Service provides an inflation adjustment for the amounts used to determine the phaseout of the exemption amounts for the alternative minimum tax. See Rev. Proc. 2013-15, page 444.

Section 63.—Taxable Income Defined

The Service provides inflation adjustments to the standard deduction amounts (including the limitation in the case of certain dependents, and the additional standard deduction for the aged or blind) for taxable years beginning in 2013. See Rev. Proc. 2013-15, page 444.

Section 68.—Overall Limitation on Itemized Deductions

The Service provides overall limitations on itemized deductions for individuals for taxable years beginning in 2013. See Rev. Proc. 2013-15, page 444.

Section 132.—Certain Fringe Benefits

The Service provides inflation adjustments to the limitations on the exclusion of income for a qualified transportation fringe benefit for taxable years beginning in 2013. See Rev. Proc. 2013-15, page 444.

Section 137.—Adoption Assistance Programs

The Service provides inflation adjustments to the maximum amount that can be excluded from an em

ployee’s gross income in connection with a qualified adoption assistance program for taxable years beginning in 2013. The Service also provides inflation adjustments to the amount used to calculate the modified adjusted gross income limitations used to determine the amount that can be excluded from an employee’s gross income for taxable years beginning in 2013. See Rev. Proc. 2013-15, page 444.

Section 151.—Allowance of Deductions for Personal Exemptions

The Service provides an inflation adjustment to the personal exemption amount for taxable years beginning in 2013. Also, for taxable years beginning in 2013, the Service provides adjusted gross income amounts at which the personal exemptions phase out. See Rev. Proc. 2013-15, page 444.

Section 221.—Interest on Education Loans

The Service provides inflation adjustments to the income limitations used to determine the allowable deduction for interest on education loans for taxable years beginning in 2013. See Rev. Proc. 2013-15, page 444.

Section 2010.—Unified Credit Against Estate Tax

The Service provides an inflation adjustment to the amount of the unified credit against estate tax for the estate of a decedent dying in calendar year 2013. See Rev. Proc. 2013-15, page 444.

2013–5 I.R.B. 443 January 28, 2013