Share to Facebook Share to Twitter Share to Linkedin Ask Republicans—who will win both houses of Congress next month—what to do about inflation, and they’ll reply: “Cut spending.” They might add cut taxes and regulations so the economy can produce more products and services, thereby lessening the pressure on prices. But they usually omit the
Taxes
Share to Facebook Share to Twitter Share to Linkedin The Internal Revenue Service announced today that young workers will be allowed to contribute up to $22,500 pretax to a 401(k) or similar retirement savings plan in 2023, a $2,000 jump from the current $20,500 limit. Those 50 or older will be permitted to sock away
At the most recent meeting of the American Bar Association’s Tax Section, the IRS noted that it was looking into solutions for preventing line-blocking technology from tying up IRS phone lines. The pilot program is going to use artificial intelligence technology to attempt to weed out calls made by these services. The initial roll out
In 2005 a group of financial institutions, consultants, governments, regulators, and analysts met in Zurich to examine the effect of environmental, social, and governance (ESG) considerations on long-term investments. The group concluded that long-term value is created by companies that embed ESG concepts into their strategies. ESG components include: environmental concerns such as climate risk,
Today’s Social Security column addresses questions about benefits lost to the earnings test, how and why non-covered pensions can affect benefits and how spousal and survivor’s benefits are calculated. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc. See more Ask Larry answers here.