IRS increases pension and retirement plan contribution limits for 2025
2025 contribution limit for 401(k) plans is $23,500, up from $23,000 in 2024. IRA contribution limit remains $7,000.
Watch CBS News
2025 contribution limit for 401(k) plans is $23,500, up from $23,000 in 2024. IRA contribution limit remains $7,000.
Millions of Americans could owe money to the IRS on June 17, with fines for missing payment on the rise.
The IRS says tax revenues will rise by as much as $561 billion over the next decade due to funding from the Inflation Reduction Act.
Americans shell out billions of dollars to prepare and file their tax returns. Here's how to do it without spending a dime.
Tax experts and the IRS itself have warned about smaller refund checks this year due to expiring pandemic aid.
Several popular tax breaks have changed since you filed your 2021 return
The IRS is now accepting 2022 federal tax income returns.
Many tax benefits instituted during the pandemic have lapsed, which means some people could see smaller refunds.
Nation's tax collector says it has improved telephone service from last year, when just 1 in 10 calls were answered.
The first round of advance Child Tax Credit payments went out to parents on July 15, but some payments have been delayed or were inaccurate.
With no end in sight to the government shutdown, demonstrators took to the streets in South Florida Thursday demanding an end to the impasse.
Terrence Howard agreed to a 2012 divorce settlement with his ex-wife after she threatened to leak details about his sex life, his attorney said Tuesday at a hearing on the actor's efforts to overturn the agreement.
A South Florida man who told the FBI his name is "Squirrel" is charged with threatening to blow up the Internal Revenue Service building in Miami.
Fourty-two people in South Florida are facing federal charges in connection to a $21 million identity theft-fraud scheme.
A former executive at Swiss bank UBS AG, who was a part of tax evasion scheme using secret accounts, pleaded guilty to a conspiracy charge.
Geared primarily towards low-to-middle income, working individuals and families, the Earned Income Tax Credit (EITC) is a federal benefit able to provide relief to those who meet specific criteria, by reducing the amount of tax owed and by increasing the amount of tax monies refunded, as determined after filing. Both single and married people can benefit from EITC, regardless of whether or not they have children or other dependents.
With one month to go before "tax day", taxpayers have more to worry about than getting their return filed on time—including a shortage of workers at the IRS could slow down getting that much-needed refund. Jim flushes out the role politics plays with the IRS with a local professor. Jim also looks at a free way people in South Florida can help avoid becoming a tax identity theft victim, at a time when tax refund thefts have never been higher.
It's easy to make a mistake on your taxes, especially if you are a new business owner or running a small business. Before you file, dot your i's and cross your t's by making sure to use the correct tax forms.
The deadline to file taxes is right around the bend.
The Internal Revenue Service, IRS, has sent out a warning; scammers are out there this tax season capitalizing on the vulnerability of tax payers and their fears of the IRS.
Fourteen students and former students of Miami Dade College were arrested in connection to a stolen identity tax refund fraud scheme. Accounts used by South Florida college students to receive financial aid were used in the scheme.
A federal jury acquitted a former top Swiss banking executive of U.S. charges that he conspired with wealthy Americans to hide $20 billion in secret accounts from the Internal Revenue Service.
An 83-year old Florida man plead guilty to federal charges for conspiring to stash more than $ 1 million from the Internal Revenue Service.
A man from Jamaica is behind bars for running a lottery scam which targeted elderly people.
ix people were charged with conspiracy to defraud the government.
Melody Alana Rose Duran's mother spoke with CBS News Miami, saying that Melody was her "whole world."
Orlando is the first team since 2019 to win the NWSL Shield and the title in the same year.
Jonathan Drouin got his first two goals of the season, Mikko Rantanen had a goal and three assists and the Colorado Avalanche beat the slumping Florida Panthers 7-4 on Saturday night.
Miami-Dade Police said the 15-year-old was shot in the shoulder.
Saturday is National Adoption Day and Broward County celebrated by giving over two dozen children a priceless gift.
Melody Alana Rose Duran's mother spoke with CBS News Miami, saying that Melody was her "whole world."
Orlando is the first team since 2019 to win the NWSL Shield and the title in the same year.
Jonathan Drouin got his first two goals of the season, Mikko Rantanen had a goal and three assists and the Colorado Avalanche beat the slumping Florida Panthers 7-4 on Saturday night.
They say the best journey takes you home. I couldn't agree more.
While I wasn't born or raised in South Florida, the area still holds a special place in my heart.
Florida coach Billy Napier is getting a fourth season to try to get the Gators back to their winning ways.
A Florida man has filed a federal lawsuit against Jacksonville sheriff's officers who severely beat him last year after he ran from a traffic stop.
The Marion County Sheriff's deputy told authorities that he accidentally shot and killed his girlfriend while cleaning his gun.
The American Automobile Association said this is a dangerous time of year for young drivers.
Florida insurance companies made money last year for the first time in seven years.
In a brief statement, NATO said Trump and its secretary general, Mark Rutte, met on Friday in Palm Beach, Florida.
The special primary election for Congressional District 1 will take place on Jan. 28 and a special general election will occur on April 1
Scott Bessent, the founder of the Connecticut-based hedge fund Key Square Group, had been making a full-court press for the post.
The Universal Service Fund was created by Congress in 1996.
A new study says 86% of businesses and organizations hit by cyberattacks were targeted on a weekend or holiday.
As the nation prepares for a Trump presidency in which Republicans control both the House and the Senate, Jim interviews leaders on both sides of the political landscape.
Jim interviews Rosanna "Rosie" Cordero-Stutz who was elected this week as the sheriff of Miami-Dade; and Jim talks to the executive director of the Florida Women's Freedom Coalition about what's next for abortion in Florida.
Jim and his guests focus on the early voting numbers we are seeing locally and statewide, specifically the impact the huge Republican turnout thus far might have once all the votes are counted.
Jim sits down with key stakeholders in some of Florida's most contentious ballot initiatives.
Jim DeFede speaks to two individuals on both sides of legalizing recreation marijuana with Amendment 3.
His stance conflicts with advice from the American Academy of Pediatrics and the American Dental Association.
Lattes and other espresso-based drinks may not be available at some McDonald's restaurants due to a glitch with coffee machines.
There is currently no cure for Parkinson's Disease. But some with Parkinson's are finding that an unusual therapy – rock climbing – is helping them improve their balance, mobility, strength and cognition.
The FDA's Dr. Peter Marks says he hopes to keep his job under a second Trump term, and urges Robert F. Kennedy Jr. to "keep an open mind."
U.S. Consumer Product Safety Commission issues urgent safety alert after ninth recall of adult bed rails in three years.
These gifts from Stanley, Apple, AllTrails and more won't bust your budget.
From top-rated smart mugs to cold brew starter kits, we've rounded up the coffee lover presents to gift this Christmas.
Just in time for the holiday season, Nintendo has released Nintendo Switch bundles and special editions.
For that authentic grilling experience, you can't beat a charcoal grill. We've rounded up the best grill options.
Discover the best tech gifts during the 2024 holiday season that your friends and loved ones will absolutely adore.
Miami-Dade is considering four possible sites, including two that are 2 miles or less from the city of Miramar.
A viral TikTok recipe that includes melting Jolly Ranchers landed a 9-year-old in the hospital with severe burns.
The American Automobile Association said this is a dangerous time of year for young drivers.
A string of recalls connected to Wisconsin-based supplier Schreiber Foods has now extended to Aldi stores after similar recalls at Hy-Vee and other grocery chains.
There are two sales tax holidays for hurricane supplies
Lawyers for actor Jonathan Majors and Grace Jabbari agreed to dismiss the case with prejudice, according to a joint filing in Manhattan federal court.
Cynthia Erivo, Ariana Grande, AMC and fans react to the debate over in-theater singing during "Wicked."
The 17-time Grammy Award-winning artist's new album features 12 songs.
Brittany Brave knows one thing for certain: When she takes the stage, a Miami joke is inevitable.
Family and friends of One Direction star Liam Payne, who died after falling from a Buenos Aires hotel room, have gathered for his funeral in England.