WASHINGTON — The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2026 has increased to $24,500, up from $23,500 for 2025. The IRS today also issued technical guidance regarding all cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2026 in Notice 2025-67 PDF , posted today on IRS.gov . Highlights of changes for 2026 The annual contribution limit for employees...

WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued guidance providing penalty relief to employers and other payors for tax year 2025 regarding new information reporting requirements for cash tips and qualified overtime compensation under the One, Big, Beautiful Bill. Transition penalty relief for tax year 2025 Notice 2025-62 PDF provides penalty relief from the new information reporting requirements for cash tips and qualified overtime compensation...

IR-2025-26, Feb. 27, 2025 WASHINGTON — The Internal Revenue Service today announced its annual Dirty Dozen list of tax scams for 2025...