Tag: Internal Revenue Service (page 2 of 3)
If you installed a solar panel system or another type of renewable energy system during 2023 to your home, you may be eligible for a tax credit which would be equal to around 30% of the total cost of installation.
The IRS has announced the contribution limit for employees who participate in a 401K, 403B and most 457 plans has increased to $23,000 for the tax year 2024 (up from $22,500 for 2023).
The catch-up contribution limit for employees aged 50 and over who participate in these plans will remain at $7,500 for 2024.
Starting with tax year 2023, if your business has 10 or more W2s and/or 1099s to prepare, you must file them electronically with the IRS.
The IRS has announced the contribution limit for employees who participate in a 401K, 403B and most 457 plans will increase to $20,500 for the tax year 2022 (up from $19,500 in 2021 and 2020).
The catch-up contribution limit for employees aged 50 and over who participate in these plans remains unchanged at $6,500.
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