2021 IRS Benefits & Contributions Limits Announced
(Posted on October 26, 2020 by )


irsOn October 26, 2020, the IRS issued IRS Notice 2020-79, announcing the changes in pensions and benefits limits for 2021. The maximum limit on annual additions (primarily to defined contribution plans) rose from $57,000 to $58,000 and the annual limit on compensation taken into account rose from $285,000 to $290,000. Most other limits stayed the same.

A chart showing details, and limits from 1996 to 2021, can be found at this link.

 

 
 

IRS Issues Self-Assessment Forms for Federal, State, and Local Government Employers
(Posted on July 10, 2017 by )


Internal Revenue ServiceThe IRS has now issued a series of forms to enable federal, state, and local governments to assess their compliance with federal tax statutes, and has set forth some common errors found in examining such employers. Several of the forms relate to employee benefits issues, and may be of assistance to governments trying to ensure that they comply with all legal requirements.

The forms are as follows:

For use by Federal, State and Local Government Entities

For use by State and Local Government Entities Only

Read more.