Each year, the IRS announces tax inflation adjustments for the following year. The tax inflation adjustments are based on changes to the Consumer Price Index ("CPI").
The tax inflation adjustments for 2015 were released by the IRS on October 23, 2014. The highlights of changes to key pension contribution, compensation and benefit limits for 2015 are illustrated below. 2014 limits are illustrated for comparative purposes.
Questions about this alert please contact David Waddington at DWaddington@FriedmanLLP.com or contact your engagement partner.