Tax year 2014

Tax

Tax Rates, Standard Deduction, Exemptions Increase Due to IRS Inflation Adjustments

For tax year 2014, the IRS announced annual inflation adjustments for more than forty tax provisions, including the tax rate schedules, and other tax changes. Revenue Procedure 2013-35 provides details about these annual adjustments.
Tax

IRS Announces 2014 Pension Plan Limitations; Taxpayers May Contribute up to $17,500 to Their 401(k) Plans in 2014

On October 31, 2013, the IRS announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2014.

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