IRS Changes this year?

[ebrooks714]

Hi, are there any big changes or new limitations from the IRS this year?  Hoping for good news like limits that can be put into an IRA or 401K perhaps for big credits!  

[RobertB4444]

No big changes this year.  A lot of tax rules expire in 2025 but nothing major this year.

For 2023 the contribution limits for an IRA are $6500 for under 50 and $7500 if you're over - rising to $7000 and $8000 for 2024.

The 2023 contribution limit for a 401K is $22500 rising to $23000 in 2024.

@ebrooks714