Jean Wiskowski, Senior Vice President & Chief Marketing Officer
Keeping Promises Since 2015
Each year, the agency publishes inflation adjustments for more than 50 tax provisions. The latest adjustments are to be used on 2018 tax returns filed in 2019.
The contribution limit for employees who participate in 401(k), 403(b), and most 457 plans in 2018 is to increase to $18,500 from $18,000, the Internal Revenue Service said Oct. 19.
The Old-Age, Survivors and Disability Insurance taxable wage base is to increase to $128,700 in 2018, up from $127,200 in 2017, the Social Security Administration said Oct. 13.