The Internal Revenue Service said Tuesday that the Tax Cut and Jobs Act of 2017 won’t affect the tax year 2018 dollar limitations for retirement plans the IRS had announced last year.
Last year, the IRS announced the retirement and pension plan limitations in IR 2017-177 and detailed them in Notice 2017-64 (see IRS increases retirement plan contribution limits for 2018 ).
The IRS has been providing guidance on the new tax law amid questions from tax professionals and taxpayers alike on what impact it will have this year. Tuesday’s announcement helps clarify one of the issues perplexing some practitioners. It […]
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