Will Extending Tax Cuts Cost Retirement Savers?
Of Counsel Michelle Capezza was quoted by Fiduciary News in an article about how Congress is working to extend tax cuts. This is causing uncertainty about whether Congress might offset this by cutting back on retirement plan contribution limits.
Michelle says, “Many tax cuts under the 2017 Tax Cuts and Jobs Act are set to expire in 2025 unless Congress agrees on a way to pay for extensions. An avenue that is often tapped to find pay-fors that can enable extensions of other tax breaks relates to changes to retirement savings tax incentives.”
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