IRS Extends Electronic Signatures and Encrypted Email
On March 27, 2020, the IRS issued guidance allowing for the acceptance of digital signatures and the receipt and transmission of documents via email during compliance interactions. The IRS also permitted the use of electronic or digital signatures on certain paper forms that required a handwritten signature. These digital flexibilities were subsequently extended to Oct. […]
2024 IRA and 401(k) Limits Increase
The IRS issued technical guidance in Notice 2023-75 regarding all of the cost‑of‑living adjustments affecting dollar limitations for IRAs, pension plans and other retirement-related items for tax year 2024. $23,000 –Contribution limit for 401(k), 403(b), most 457 plans, Thrift Savings Plans $7,500 – Catch-up contribution limit for individuals aged 50 and over $7,000 – The limit on annual contributions to […]