2020 vs 2021 401k, 403b, 457 and TSP Contribution Limits and Catch-up Amounts

[Updated with the latest contribution limits] The IRS has released updated employer sponsored retirement plan limits, which covers 401(k), 403(b), 457 and Government Thrift Savings (TSP) plans. The annual contribution limits are indexed to inflation. See details and additional explanations below the table. Your 401k maximum contribution limit is the …

Read More

IRS Average Tax Refund

[Updated with latest refund details] As of April 13th, the Internal Revenue Service (IRS) has said it has received more than 115 million tax returns, with more than 95% of those returns filed electronically and over 80% of those returns resulting in refunds. The IRS generally receives over …

Read More

2015 Official IRS IRA, Roth IRA and 401K Contribution Limits

Millions of Americans contribute to an employer sponsored 401K or traditional IRA (Individual Retirement Account). And over the last few years the government has steadily been increasing the maximum contribution people can make to ensure that folks can build a larger nest egg during retirement. But thanks …

Read More

2015 Tax Brackets and Other Federal Taxation Updates

Given the low inflation environment over the last year, the 2015 IRS Tax Brackets, standard deductions and personal exemptions have only seen a moderate increase over 2014 levels. Federal income tax brackets and related tax items, under the tax code, provide for mandatory annual adjustments based on …

Read More

Will there be a SSI COLA increase?

See the latest COLA changes in this article – https://www.savingtoinvest.com/social-security-tax-and-cost-of-living-adjustment-cola [Updated with 2015 Forecast – 90% accurate] What will the 2015 SSI COLA increase be? That’s the question 60 million social security recipients (mainly federal and military retirees) will be asking later this year when …

Read More

2014 – 2015 HAMP Mortgage Modification Program Extension

The Obama administration, via the Federal Housing Finance Agency (FHFA) has directed government sponsored entities Fannie Mae and Freddie Mac to extend the Home Affordable Modification Program (HAMP) through year-end 2015. The HAMP program allows struggling homeowners to refinance to a lower rate and stay …

Read More