Each year the IRS makes cost of living adjustments to many of the limits on benefits from - and contributions to - qualified and non-qualified retirement plans. This blog details the new limits for 2022; all have been increased from the 2021 limits except for the catch-up contribution limit which remains at $6,500.Read More
The Paley Rothman Blog
Paley Rothman shares this library of resources with clients and friends of the firm to help them stay ahead of legal and business developments and trends. Here, you will find helpful tips and tools written by our attorneys. The information in the blogs and articles is not a substitute for legal advice and should not be relied on as such. Should you have any questions or want legal advice, please contact the attorney who wrote the blog or article.
Pursuant to a new rule from the IRS/DOL, key ERISA deadlines, including COBRA election and premium payment deadlines will be tolled during the COVID-19 outbreak.Read More
Haven’t filed a tax return in a while and earn over $100,000? You won’t be able to hide for long. Recently, the Internal Revenue Service announced it will be stepping up efforts by “drop-in” visits to the homes of high-income taxpayers who have failed to file tax returns in prior years in an effort to increase tax compliance and further enforce collection. Sometimes the drop-ins are even unannounced.Read More
If you have rental income that you report on your personal tax return, be sure to review these new guidelines with your tax advisor to see if you qualify for deductions against that income.Read More