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The Internal Revenue Service recently announced 2023 dollar limits for qualified retirement plans (including 401(k) plans), deferred compensation plans, and health, and welfare plans....
On January 14, 2022, the Puerto Rico Department of the Treasury issued Internal Revenue Circular Letter No. 22-01 (CL IR 22-01) announcing the applicable 2022 limits for Puerto Rico...
To print this article, all you need is to be registered or login on Mondaq.com. The Internal Revenue Service has announced cost-of-living-adjusted limits for 2021 that affect the operation of tax-qualified retirement plans, including 401(k) plans and certain other types of employee benefit plans, including deferred compensation plans that may be subject to Internal Revenue Code §409A. The amount by which the limits are adjusted each year is based on a cost of living index. Not all limits increase every year. In connection with the increased limits for 2021, employers ...