The Roth IRA contribution limits for 2025 are $7,000, or $8,000 if you’re 50 or older, unchanged from 2024. The income phaseout for taxpayers making contributions to a Roth IRA increased. D3sign | Moment | Getty Images Roth IRA income phaseouts for 2025 To contribute up to the limit in a Roth IRA, your modified […]

The IRS has announced the 401(k) catch-up contribution limits for 2025.  In 2025, the 401(k) catch-up contribution limit will remain $7,500 in 2024. However, investors age 60 to 63 can save $11,250 for catch-up contributions based on changes enacted via Secure 2.0. Cecilie_Arcurs | E+ | Getty Images The IRS has announced new 401(k) catch-up

The IRS has announced individual retirement account contribution limits for 2025.  For 2025, investors can save a maximum of $7,000 in IRAs, which remains unchanged from 2024. IRA catch-up contributions for investors age 50 and older will also stay the same at $1,000. Xavierarnau | E+ | Getty Images Some investors can deduct pretax IRA

The IRS has announced higher 401(k) contribution limits for 2025. Starting in 2025, employees can defer $23,500 into workplace plans, up from $23,000 in 2024. Only 14% of employees deferred the maximum amount into 401(k) plans in 2023, according to Vanguard’s 2024 How America Saves report.  Pgiam | Istock | Getty Images The IRS has

New tax changes for 2025 announced by the IRS may affect tax liabilities for families. The refundable portion of the child tax credit will be $1,700, unchanged from 2024. Other changes to the earned income tax credit, adoption credit and annual gift tax exclusion may also affect parents. Momo Productions | Digitalvision | Getty Images

The IRS on Tuesday unveiled 2025 inflation adjustments for the long-term capital gains tax brackets, which apply to investments owned for more than one year.  For 2025, single filers can earn up to $48,350 in taxable income — $96,700 for married couples filing jointly — and still pay 0% for long-term capital gains. You calculate

The IRS has unveiled higher federal tax brackets for 2025 to adjust for inflation. The standard deduction will increase to $30,000 for married couples filing together and $15,000 for single taxpayers. There are also changes to the long-term capital gains brackets, estate tax exemption, child tax credit eligibility and more.  Rockaa | E+ | Getty

If you need a preparer for the 2025 filing season, now is the time to start looking, experts say. However, vetting is important because there are no federal licensing or competency requirements, and some paid preparers have no training or experience. You can start with referrals and double-check credentials through the IRS and state licensing

The tax extension deadline is Oct.15, but some taxpayers in federally declared disaster areas have more time to file. For disasters after April 15, there is no extension for payments, and penalties and interest have been accruing. If you still can’t pay your taxes, you have a few options, tax professionals say. Urbazon | E+

The tax extension deadline is Oct. 15, but you have options if you still can’t pay your balance, experts say. You can apply for an IRS payment plan, or “installment agreement,” to pay your taxes owed over time. You will still incur interest and late-payment penalties, but an installment agreement could reduce the failure-to-pay penalty.