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News from the IRS

Public Announcements:

Many businesses must report beneficial ownership information to Treasury by Jan. 1; free webinar can help

IR-2024-288, Nov. 12, 2024 — The Internal Revenue Service will sponsor a free one-hour webinar designed to help the many businesses that must report their beneficial ownership information to the Treasury Department’s Financial Crimes Enforcement Network.

IRS: Healthcare FSA reminder: Employees can contribute up to $3,300 in 2025; must elect every year

IR-2024-287, Nov. 7, 2024 — The Internal Revenue Service reminds taxpayers that during open enrollment season for flexible spending arrangements (FSAs) they may be eligible to use tax-free dollars to pay medical expenses not covered by other health plans.

IRS publishes 2024 Financial Report; resolves longstanding significant deficiency

IR-2024-286, Nov. 7, 2024 — The Internal Revenue Service today released financial information and highlighted selected accomplishments and challenges in its fiscal year 2024 Financial Report.

401(k) limit increases to $23,500 for 2025, IRA limit remains $7,000

IR-2024-285, Nov. 1, 2024 — The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2025 has increased to $23,500, up from $23,000 for 2024.


News release and fact sheet archive

Find previous year news releases and fact sheets from 1997 through last month.