IRS boosts 401(k) contribution limits for 2025, adds "super catch-up" for 60-63 year olds
But thanks to the SECURE 2.0 Act, those between 60 and 63 years old have a higher catch-up contribution limit of $11,250 in 2025. That’s a significant hike, allowing these employees to contribute a total of $34,750 into their 401 (k) plan in 2025.
Year-end is when participants who defer income in nonqualified plans choose how much to squirrel away. The 2025 IRS limits on ...
In 2021, the difference between what U.S. taxpayers owed the federal government and what they paid hit nearly $700 billion.
The final regulations on the sale of property seized by the IRS through a levy for nonpayment of taxes provide a long overdue ...
When civil and criminal penalties don't deter people from skipping out on their taxes, the IRS has other tools it can use.
The IRS Monday released final rules giving the agency a bit more leeway when selling a taxpayer’s property that it had seized by levy.
After two years of delays, the IRS's third-party payment apps reporting change might impact your 2024 tax return.
Maryland has paid $5.4 million to the Internal Revenue Service after a rare IRS audit found the state owed millions of ...
If you want to avoid complications when filing your U.S. tax return, filing it as soon as possible is highly recommended.
An IRS summons didn’t violate a man’s Fifth Amendment rights against self incrimination, and the agency doesn’t need to be ...
The IRS has implemented Direct File, a free national service, in 24 states across the country. Delaware has yet to join it.
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