Page 10 - Supplement to Income Tax TY2021

Recent Tax Developments*

2019 MAGI and Filing Status Determine 2021 Medicare
Premiums and Surcharges

Single, head of
household, qualifying Married filing jointly for Married filing separately Monthly Part B premium Surcharge added
widow/widower, and 2019 if lived together at any for 2021 to monthly Part D
married filing separately time in 2019 premium for 2021
if lived apart all of 2019

$148.50 standard
premium (unless
$88,000 or less $176,000 or less $88,000 or less NONE
premium is less due to
the “held harmless” rule)

$207.90
$88,001 through $176,001 through See below (includes $12.30
$111,000 $222,000
$59.40 surcharge)
$297.00
$111,001 through $222,001 through See below (includes $31.80
$138,000 $276,000
$148.50 surcharge)

$386.10
$138,001 through $276,001 through See below (includes $51.20
$165,000 $330,000
$237.60 surcharge)
$475.20
$165,001 through $330,001 through $88,001 through (includes $70.70
$499,999 $749,999 $411,999
$326.70 surcharge)

$504.90
$500,000 or more $750,000 or more $412,000 or more (includes $77.10
$356.40 surcharge)

New RMD Life Expectancy Tables Will Take The final regulations, including the revised Tables,
Effect in 2022 (pages 237-245, 257-258) are in T.D. 9930, 2020-49 IRB 1400. Below are some
examples of how the new tables will affect RMDs.
Final IRS regulations revise the life expectancy tables
that will be used, starting in 2022, to figure required Uniform Lifetime Table for Traditional IRA owners
minimum distributions (RMDs). The new tables reflect (Table 8-3). If you are already receiving RMDs using
longer life expectancies, which will have the effect of the Uniform Lifetime Table (Table 8-3, page 240),
reducing RMDs for 2022 and later years. RMDs for then you will simply switch to the new table for your
2021 are not affected; the tables shown in Your Income 2022 RMD. For example, if you are age 75 on your
Tax 2021 apply, so use Table 8-3 (page 240), Table 8-4 birthday in 2022, the distribution period under the
(page 241), or Table 8-5 (page 245), as applicable, to new Uniform Lifetime Table is 24.6 years. You will
figure your 2021 RMD. divide your 2021 year-end account balance by 24.6 to

8 | Supplement to J.K. Lasser’s Your Income Tax 2021