2026 401(k) Taxes 
Money Talk
APRIL 14, 2022
The 2021 income tax season will soon be in the history books. With income tax calculations still fresh in our heads, this is a great time to do some tax planning for 2022. Here are 12 tax topics to consider: Itemized Deductions- Only about 10% of taxpayers can itemize since the Tax Cuts and Jobs Act went into effect in 2018.
Money Talk
JUNE 13, 2024
With the 2023 tax filing deadline in the rear view mirror, now is a good time to look ahead to 2024 taxes that you will owe in April 2025. This post extends that discussion with a description of seven key steps to take to plan for your 2024 tax return due in 2025. 401(k) plan).
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Money Talk
DECEMBER 21, 2023
401(k), 403(b), 457b, and TSP). Tax Uncertainty - The tax code is written in pencil. Income taxes are headed higher in 2026 if Congress does not pass a new tax law and the 2017 Tax Cuts and Jobs Act expires. This change, therefore, aligns workplace Roth account rules with Roth IRA rules.
Proskauer's Employee Benefits & Executive Compensa
JANUARY 16, 2024
requires that 401(k) plans established after December 28, 2022, implement automatic enrollment provisions for plan years starting after December 31, 2024. 401(k) Plans : If two or more 401(k) plans established before December 29, 2022, merge into a single ongoing plan, the ongoing plan is not subject to the SECURE 2.0
Insperity
OCTOBER 10, 2023
employer-sponsored 401(k) plans. Act seeks to: Open access to 401(k) retirement plans to more people Provide greater opportunities to save Offer financial incentives to save while removing common barriers and penalties So, what does the law require of employers? The SECURE 2.0 The SECURE 2.0
Snell & Wilmer Benefits
MAY 31, 2024
s increased catch-up contribution limits set to take effect next year, it’s time for 401(k) plan sponsors to brush up on the rules and consider how to administer the changes. Under the current rules, 401(k) plans may allow participants to make catch-up contributions when they are age 50 or older. With SECURE 2.0’s
Benefits Notes
DECEMBER 28, 2022
Catch-up contributions will now be subject to Roth after-tax treatment for those earning more than $145,000 in the prior year. Effective for distributions made after December 31, 2023, the 10% tax on early distributions does not apply for distributions for domestic abuse survivors. Increase in Cash-out Limit.
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