Adjustments for inflation
(1) In general
(1)In general#
In the case of a taxable year beginning after December 31, 2002 , each of the dollar amounts in paragraphs (3) and (4) of subsection (a) and paragraphs (1) and (2)(A)(i) of subsection (b) shall be increased by an amount equal to—
(A) such dollar amount, multiplied by
(B) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting “calendar year 2001” for “calendar year 2016” in subparagraph (A)(ii) thereof.
(1)(A)#
such dollar amount, multiplied by
(1)(B)#
the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting “calendar year 2001” for “calendar year 2016” in subparagraph (A)(ii) thereof.
(2)Rounding#
If any amount as increased under paragraph (1) is not a multiple of $10, such amount shall be rounded to the nearest multiple of $10.
(3)Special rule for refundable portion#
In the case of the dollar amount in subsection (a)(4), paragraph (1) shall be applied—
(A) by substituting “2025” for “2002” in the matter preceding subparagraph (A), and
(B) by substituting “calendar year 2024” for “calendar year 2001” in subparagraph (B) thereof.
(3)(A)#
by substituting “2025” for “2002” in the matter preceding subparagraph (A), and
(3)(B)#
by substituting “calendar year 2024” for “calendar year 2001” in subparagraph (B) thereof.