Protax Consulting Services, Inc. Blog 401(k) limit increases to $23,500 for 2025, IRA limit remains $7,000

As is usual this time of the year the IRS under Notice 2024-80 through IR-2024-285 advises the tax practitioner community and taxpayers of the upcoming 2025 Pension Plan limitations as pertains to IRC Sec 401(k) and the NPO corresponding 403(b), traditional and ROTH IRA’s, Cat-up’s and Defined Contribution Plans. The Internal Revenue Service announced today The post 401(k) limit increases to $23,500 for 2025, IRA limit remains $7,000 appeared first on Protax Consulting Services.