News & Analysis as of

Internal Revenue Service Social Security Administration (SSA)

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Fisher Phillips

New IRS and SSA Data-Sharing Efforts Raise Immigration Stakes for Employers: 5 Action Items to Address Risk

Fisher Phillips on

Federal authorities are ramping up their use of interagency data to pursue immigration enforcement, with major implications for employers. An April 7 agreement between the IRS and ICE enables immigration agents to access tax...more

Pullman & Comley, LLC

New Dollar Limits Applicable to Retirement Plans for 2025

Pullman & Comley, LLC on

The Internal Revenue Service and the Social Security Administration have announced the cost of living adjustments (COLA) applicable to dollar limitations for retirement plans and the Social Security wage base for 2025. Many...more

DLA Piper

IRS Announces 2025 Retirement and Benefit Plan Limits, SSA Announces COLA Adjustment

DLA Piper on

On November 1, 2024, the Internal Revenue Service (IRS) announced cost-of-living adjustments (COLAs) to the dollar limits on benefits and contributions in retirement plans for 2025. These adjustments are in addition to...more

Tucker Arensberg, P.C.

2025 IRS & SSA Benefits Alert

Tucker Arensberg, P.C. on

IRS and SSA Announce 2025 Indexed Numbers - The IRS and Social Security Administration have announced cost-of-living increases for retirement plans and other employee benefit plans for 2025....more

Stinson - Benefits Notes Blog

Annual Limits on Qualified Plans for 2025

On November 1, 2024, the Internal Revenue Service (IRS) released Notice 2024-80, which sets forth the 2025 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans. The...more

Venable LLP

2025 Dollar Limits on Compensation and Benefits

Venable LLP on

The Internal Revenue Service (IRS) has announced 2025 dollar limits on benefits, contributions, and compensation. The Internal Revenue Code (Code) affords tax benefits for employers that sponsor qualified plans and for...more

Williams Mullen

Benefit and Contribution Limits for 2025

Williams Mullen on

The Commissioner of Internal Revenue announced the 2025 dollar limitations for benefits and contributions that apply to retirement plans. The Social Security Administration increased the Social Security taxable wage base....more

McDermott Will & Emery

Government Announces 2025 Employee Benefit Plan Limits

McDermott Will & Emery on

The Internal Revenue Service (IRS) has announced the cost-of-living adjustments to the applicable dollar limits for various employer-sponsored retirement and welfare plans for 2025. Most of the dollar limits that are...more

Chambliss, Bahner & Stophel, P.C.

Is a Personal Injury Settlement Taxed?

Approximately 6 percent of adult Americans experience an activity-limiting injury every three months, according to the Centers for Disease Control and Prevention (CDC). Injuries can happen because of carelessness, such as...more

Brownstein Hyatt Farber Schreck

Employee Benefits-Related Limits For 2024

This chart sets forth some of the annually adjusted dollar limits that impact employee benefits, as published by the Internal Revenue Service, the Social Security Administration and the Pension Benefit Guaranty Corporation....more

Tucker Arensberg, P.C.

Benefits Alert - November 2023

Tucker Arensberg, P.C. on

The IRS and Social Security Administration have announced cost-of-living increases for retirement plans and other employee benefit plans for 2024....more

Harris Beach Murtha PLLC

IRS Announces 2024 Retirement Plan Dollar Limits and Thresholds

On November 1, 2023, the IRS issued Notice 2023-75 and an accompanying news release, announcing retirement plan dollar limits and thresholds for 2024. Selected dollar limits and thresholds are summarized here, with references...more

Williams Mullen

Benefit and Contribution Limits for 2024

Williams Mullen on

The Commissioner of Internal Revenue announced the 2024 dollar limitations for benefits and contributions that apply to retirement plans. The Social Security Administration increased the Social Security taxable wage base....more

Harris Beach Murtha PLLC

Social Security Administration Announces Higher Benefits and Taxable Wage Base for 2024

A recent Social Security Administration news release announced that, for 2024, Social Security benefits will increase by 3.2%, and the Social Security taxable wage base will increase to $168,600 from $160,200. The...more

Tucker Arensberg, P.C.

IRS and SSA Announce 2023 Indexed Numbers

Tucker Arensberg, P.C. on

The IRS and Social Security Administration have announced cost-of-living increases for retirement plans and other employee benefit plans for 2023....more

Schwabe, Williamson & Wyatt PC

2023 Benefit Limits

The Internal Revenue Service and Social Security Administration have announced the various retirement plan benefit and employment tax limits for 2023. Certain limitations will not change for 2023 because they are not subject...more

Brownstein Hyatt Farber Schreck

Employee Benefits-Related Limits For 2023

This chart sets forth some of the annually adjusted dollar limits that impact employee benefits, as published by the Internal Revenue Service, the Social Security Administration and the Pension Benefit Guaranty Corporation. ...more

McDermott Will & Emery

IRS Announces 2023 Employee Benefit Plan Limits

McDermott Will & Emery on

The Internal Revenue Service (IRS) and the Social Security Administration announced the cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans and the Social...more

Fox Rothschild LLP

IRS Announces 2023 Cost-of-Living Adjustments for Qualified Retirement Plans

Fox Rothschild LLP on

As inflation and expectations of further interest rate increases by the Federal Reserve continue to challenge the U.S. economy, a silver lining of sorts is the opportunity to save at record levels, on a tax-deferred basis. In...more

Pullman & Comley, LLC

IRS Cost of Living Adjusted Dollar Limits Applicable to Retirement Plans for 2022

Pullman & Comley, LLC on

The Internal Revenue Service and the Social Security Administration have announced the cost of living adjustments (COLA) applicable to dollar limitations for retirement plans and the Social Security wage base for 2022. Many...more

Brownstein Hyatt Farber Schreck

Employee Benefits-Related Limits For 2022

Annually, the Internal Revenue Service, the Social Security Administration and the Pension Benefit Guaranty Corporation adjust for cost-of-living increases certain limitations that impact employee benefit plans. These...more

Tucker Arensberg, P.C.

IRS and SSA Announce 2021 Indexed Numbers

Tucker Arensberg, P.C. on

The IRS and Social Security Administration have announced cost-of-living increases for retirement plans and other employee benefit plans for 2022....more

Freeman Law

How Long Can the IRS Levy on Social Security Benefits?

Freeman Law on

To levy on Social Security benefits, the IRS generally issues Form 668-W to the Social Security Administration (“SSA”). After receipt of the Form 668-W, Notice of Levy on Wages, Salary, and Other Income, SSA will withhold...more

Fisher Phillips

May 2021: The Top 18 Labor And Employment Law Stories

Fisher Phillips on

It’s hard to keep up with all the recent changes to labor and employment law. While the law always seems to evolve at a rapid pace, there have been an unprecedented number of changes for the past few years—and this past month...more

Schwabe, Williamson & Wyatt PC

2021 Benefit Limits

The Internal Revenue Service and Social Security Administration have announced the various retirement plan benefit and employment tax limits for 2021. Certain limitations will not change for 2021 because they are not subject...more

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