Tag Archives: IRS

Big changes are coming to how some employees save for retirement, thanks to new IRS regulations tied to the SECURE 2.0 Act. These updates will impact workers making over $145,000 a year and could create extra work for employers and HR departments if they’re not prepared, according to Principal.  What’s Changing? Starting January 1, 2026, workers aged 50 or older …

Tesla has made a big change in terms of its ordering process to reflect the new rules regarding the $7,500 EV tax credit, which the IRS adjusted the rules to just a few weeks ago. The EV tax credit is set to expire on September 30, bringing an end to a program that has been widely advantageous to consumers and …

Kate_sept2004 | E+ | Getty Images The IRS and U.S. Department of the Treasury this week finalized rules for certain provisions from the Secure 2.0 Act of 2022, including catch-up contributions for 401(k) and other plans, which apply to workers age 50 and older. Starting in 2027, catch-up contributions generally must be after tax (also called Roth), rather than pretax, …

The Internal Revenue Service and the Treasury Department have issued final regulations on the new Roth catch-up contribution rule from the SECURE 2.0 Act, along with other provisions of the law. SECURE 2.0 Act passed at the end of 2022 and contained an extensive list of provisions related to retirement planning, like the original SECURE Act of 2019, with some …

Roth IRA vs Traditional IRA written in the notepad. getty A common decision that many individuals face when contributing to their retirement accounts is whether to contribute using a traditional or Roth account. The SECURE 2.0 Act redefined saving for retirement by altering numerous aspects of retirement contributions like the mandatory withdrawal date and catch-up contribution limits. However, it also …

IR-2025-91, Sept. 15, 2025 WASHINGTON —The Department of the Treasury and the Internal Revenue Service today issued final regulations addressing several SECURE 2.0 Act provisions relating to catch-up contributions. (Catch-up contributions are additional contributions under a 401(k) or similar workplace retirement plan for employees who are age 50 or older.) The final regulations include final rules related to a SECURE …

The IRS has updated the terms of the phase-out of the federal tax credit for electric vehicles to give buyers a little more time to secure the $7,500 tax credit. Trump’s ‘Big Beautiful Bill’ set a deadline of September 30th to end the $7,500 tax credit for new electric vehicles and the $4,000 credit for used ones. It looked clear …

Tesla is considering making a big move with Model Y pricing as demand is skyrocketing due to the EV tax credit expiring in just over a month. With the $7,500 EV tax credit set to be removed on September 30, Tesla is experiencing increased demand for its Model 3 and Model Y. Customers are doing whatever they can to take …

A selection of Kia EV6 sedans, which are fully electric vehicles, are displayed at a dealership, Friday, July 18, 2025, in Manchester, N.H. Charles Krupa/AP hide caption toggle caption Charles Krupa/AP The clock is ticking on the federal EV tax credit for electric vehicle purchases, worth up to $7,500. The One Big Beautiful Bill Act eliminated the credit, which expires …

IR-2025-86, Aug. 21, 2025 WASHINGTON — The Internal Revenue Service today issued frequently asked questions (FAQs) in Fact Sheet 2025-05 relating to the modification of sections 25C, 25D, 25E, 30C, 30D, 45L, 45W, and 179D under the One, Big, Beautiful Bill Act (OBBBA). These FAQs provide guidance on several energy credits and deductions that are expiring under OBBBA and their …