Treasury and the #IRS announce penalty relief for new reporting requirements on cash tips and qualified overtime compensation under the One, Big, Beautiful Bill. For more information, see: irs.gov/obbb | IRS
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The IRS has announced new 401(k) contribution limits for 2026, increasing the employee deferral limit to $24,500 next year, up from $23,500 in 2025. The agency also unveiled 2026 catch-up contribution limits for savers age 50 and older, new individual retirement account savings limits and higher income thresholds for Roth IRA contributions. Read more: cnb.cx/49MZQGM | CNBC
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