Daily Tax Update - October 27, 2016: Miscellaneous Guidance

Miscellaneous Guidance:
Today the IRS released Notice 2016-62, which contains a listing of dollar limitations applicable to qualified retirement plans as adjusted for cost-of-living adjustments.  The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan remains at $18,000.