make such reports regarding such account to the Secretary with respect to contributions, distributions, the return of excess contributions, and such other matters as the Secretary may require. The reports required by this subsection shall be filed at such time and in such manner and furnished to such individuals at such time and in such manner as may be required by the Secretary. (i) Cost-of-Living adjustment (1) In general In the case of taxable years beginning in a calendar year after 2018, each dollar amount in subsections (b)(1) and (b)(2) 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 such taxable year begins determined by substituting calendar year 2017 for calendar year 1992 in subparagraph (B) thereof. (2) Rounding If any increase under paragraph (1) is not a multiple of $50, such increase shall be rounded to the nearest multiple of $50. . (b) Deduction allowed whether or not individual itemizes other deductions Section 62(a) of such Code is amended by inserting after paragraph (21) the following new paragraph: (22) Parental leave savings accounts The deduction allowed under section 224. . (c) Exclusion for employer contributions to parental leave savings accounts (1) In general Part III of subchapter B of chapter 1 of such Code is amended by inserting after section 139F the following new section: 139G. Contributions by employer to parental leave savings accounts (a) In general Gross income of an employee does not include contributions by the employer to the parental leave savings account of the employee to the extent such amounts do not exceed the limitation under section 224(b)(1) (determined without regard to this section) which is applicable to such employee for such taxable year. (b) Parental leave savings account For purposes of this section, the term parental leave savings account shall have the meaning given to such term by section 224. (c) Exclusion not To exceed