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James D. Lynch

IRS Announces Higher Retirement Contribution Limits For 401(k)s But Not IRAs

The Internal Revenue Service announced that the amount individuals can contribute to their 401(k) plans will increase to $20,500 in 2022,...

James D. Lynch

IRS Offers Guidance for Employers Rehiring Retirees

To help address COVID-related labor shortages, the Internal Revenue Service has stated that employers generally will not jeopardize the...

James D. Lynch

The Tax Responsibilities That Come With Shutting Down a Business

● File “final” tax returns. The business must file an annual income tax return for the year it goes out of business. That income tax...