Five-Minute Tax Briefing – No. 2023-22
Item for Thursday, November 2, 2023 IRS Releases 2024 Qualified Retirement Plan Amounts: The IRS has released cost-of-living adjustments affecting pension plans and other retirement-related items for tax year 2024. Some of the limits applicable to pension and other retirement plans have increased. For instance, the elective deferral limit for employees participating in 401(k), 403(b), and …