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Retirement Plan › Internal Revenue Service › Inflation Adjustments

Proskauer - Employee Benefits & Executive...

IRS Releases Annual Increases to Health FSA and Transportation Fringe Benefit Limits for 2024

Proskauer - Employee Benefits & Executive... on

On November 9th, the IRS announced additional inflation adjustments for 2024, including to the annual contribution and carryover limits for healthcare flexible spending accounts and the monthly limit for qualified...more

Proskauer - Employee Benefits & Executive...

IRS Releases Annual Increases to Qualified Retirement Plan Limits for 2024

Proskauer - Employee Benefits & Executive... on

On November 1st, the IRS released a number of inflation adjustments for 2024, including to certain limits for qualified retirement plans. As expected, this year’s adjustments are more modest than last year’s significant...more

Miller Canfield

Sizeable Increases to 2023 Plan Limits Due to Inflation

Miller Canfield on

​​​​​​​The Internal Revenue Service recently issued its annual cost-of-living adjustments (COLAs) for the 2023 tax year for retirement plans as well as health and welfare benefit plans. These COLAs reflect significant...more

Schwabe, Williamson & Wyatt PC

2023 Benefit Limits

Schwabe, Williamson & Wyatt PC on

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

Warner Norcross + Judd

IRS Significantly Increases Many Benefit Plan Limits for 2023 - Warner Norcross + Judd LLP

Warner Norcross + Judd on

The IRS responded to rising inflation with its recent announcement regarding the limitations applicable to retirement and other benefit plans for 2023. Many limits will have significant increases compared to previous years,...more

Proskauer - Employee Benefits & Executive...

IRS Announces 2023 Increases to Qualified Retirement Plan Limits

Proskauer - Employee Benefits & Executive... on

On October 21st, the IRS released a number of additional inflation adjustments for 2023, including to certain limits for qualified retirement plans. Perhaps most notably, the annual limit for pre-tax and Roth contributions...more

McDermott Will & Emery

Weekly IRS Roundup October 17 – October 21, 2022

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of October 17, 2022 – October 21, 2022...more

Akin Gump Strauss Hauer & Feld LLP

President Trump Signs Tax Reform Bill into Law

Akin Gump Strauss Hauer & Feld LLP on

On December 15, 2017, the House and Senate conference committee agreed on the terms of the final tax reform bill, previously referred to as the “Tax Cuts and Jobs Act” (the “Act”), which was subsequently approved by both...more

Holland & Knight LLP

Department of Labor Increases Penalties for Certain ERISA Violations

Holland & Knight LLP on

The U.S. Department of Labor (DOL) published on July 1, 2016, an interim final rule adjusting the civil monetary penalties that it can enforce. These adjustments are the result of the Federal Civil Penalties Inflation...more

Dentons

IRS Releases Inflation Adjustments for 2016

Dentons on

Each year, the IRS calculates cost of living and inflation adjustments and determines how much certain limits and thresholds should be adjusted, if at all, for the upcoming tax year. The IRS released Revenue Procedure 2015-53...more

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