Limits for retirement plans and Individual Retirement Arrangements, and other tax-related adjustments for 2020

Internal Revenue Service (IRS) sent this bulletin at 11/08/2019 12:08 PM EST

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November 8, 2019

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401(k) contribution limit increases to $19,500 for 2020; catch-up limit rises to $6,500 The Internal Revenue Service announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2019. See our chart for all the dollar limitations for 2020.

IRS provides tax inflation adjustments for tax year 2020

Tax year 2020 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes.

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