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.
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2025 contribution limit for 401(k) plans is $23,500, up from $23,000 in 2024. IRA contribution limit remains $7,000.
The IRS has adjusted tax brackets and dozens of other provisions for inflation. Here's how that will impact your taxes.
The IRS adjusts its tax brackets and other provisions each year for inflation. Here's what experts say to expect in 2025.
The IRS said funding from the Inflation Reduction Act has helped it go after wealthy taxpayers who failed to pay their tax bills.
The IRS says its push to step up audits on wealthy tax cheats is paying off, with the agency recovering more than $1 billion.
The IRS said it "sincerely apologizes" to billionaire hedge fund manager Ken Griffin and thousands of other Americans whose tax data was leaked.
Scammers are asking businesses to fill out Form 9710 and include a fee to "correct the error," but this form doesn't exist.
The Internal Revenue Service plans to end another major tax loophole that could raise more than $50 billion in revenue over the next decade.
The IRS is tapping Inflation Reduction Act funding to hire more agents and go after more tax cheats. Here's where it is focusing.
Millions of Americans filed their taxes during the last two weeks of this year's tax season. Here's how to find out when you'll get your refund.
After passing easily in the House, a bill that would have expanded the CTC is stalled in the Senate. Here's what to know.
If you're one of the millions of taxpayers who delay their taxes, it's easy to get an extension to October 15.
Two groups of taxpayers are more likely to face an IRS audit than other Americans, and it's only high income earners.
The U.S. tax system is designed to be progressive, with rich people paying a larger share of their income to the IRS. Here's what to know.
The IRS cracking down on wealthy people who've skipped out on filing tax returns
After almost one month of tax filing, Americans are seeing bigger tax refunds, according to IRS data. Here's what to expect.
The IRS opened for filing on January 29. Here's what to expect with your tax refund, from how much you'll get to when you'll get it.
The Macomb County Veterans Services, Macomb Community Action, and the Accounting Aid Society will offer help through the IRS Volunteer Income Assistance (VITA) program.
The IRS said it will waive penalties for almost 5 million taxpayers on their 2020 and 2021 tax returns.
Tax agency also said it will boost the reporting threshold to $5,000, from $600, in 2024 as it phases in the new regulation.
The IRS is rolling out new income thresholds for its seven tax brackets, boosting the limits to reflect inflation this year.
The IRS is set to announce new tax bracket thresholds for the 2024 tax year. One expert says to expect a 5.4% increase from last year.
Americans owe the IRS $688 billion in unpaid taxes, underscoring need for more audits, said IRS Commissioner.
A report from Democratic lawmakers alleges that tax-prep companies shared people's income and other sensitive data with big tech firms.
A group of Republican senators and representatives said IRS officials violated "anti-gag" rules that protect federal employees.
No tornado watch was issued for Michigan on Friday, even though the NWS later determined a supercell spun out four tornadoes.
Imagine thinking you lost big on "The Price is Right" game "Rat Race," only to discover afterward you got a prize after all.
Michigan State Police provided about 3 minutes of video showing aerial scenes from the tornado damage on Friday in Southwest Michigan.
One man and two women were killed in Branch County, and a 12-year-old boy was killed in Cass County, as tornadoes struck Southwest Michigan on Friday.
A 15-year-old boy driving an ATV died Sunday night after being struck by a vehicle in Redford Township, police said.
Gas prices in Michigan jumped up 56 cents in the past week, in keeping with gas price spikes across the country, AAA says.
One man and two women were killed in Branch County, a 12-year-old boy was killed in Cass County, as tornadoes struck Southwest Michigan on Friday.
No tornado watch was issued for Michigan on Friday, even though the NWS later determined a supercell spun out four tornadoes.
Gov. Gretchen Whitmer has declared a state of emergency for three Michigan counties after the National Weather Service said at least three tornadoes touched down during severe storms Friday.
Strong to possibly severe thunderstorms are expected across southeast Michigan Tuesday night into Wednesday as a powerful storm system moves through the Great Lakes.
For the first time in 15 years, Stellantis is not issuing a profit-sharing distribution to UAW-represented employees.
Union Vice President Laura Dickerson confirmed that the worker, TJ Sabula, "has no discipline on his record."
Some General Motors employees are taken aback by this year's profit-sharing checks, with it being $4,000 less than the previous one.
While many assume a "harsh" winter, or this bone-chilling, sustained cold, is the enemy of asphalt, the real culprit is temperature fluctuation.
In Metro Detroit, drivers are paying about $2.90 per gallon, which is 2 cents less than last week and 29 cents less than at the same time last year.
A woman was arrested on Sunday for firing multiple shots at the Beverly Hills home of Rihanna, Los Angeles Police Department officials say.
A restaurant celebrating rock music in the era of the legendary band Kiss is set to open in Royal Oak.
Six Flags is selling off some of its North America amusement parks, including Michigan's Adventure in Muskegon.
Actor and filmmaker Bruce Campbell told fans that he is in treatment for cancer and will cancel some upcoming public appearances.
Faster Horses, a multi-day country music festival, will not return this summer to Michigan International Speedway.
Live Nation, the parent company of Ticketmaster, has reached a deal with the Department of Justice as part of a high-stakes antitrust trial.
Two men from Pennsylvania are facing federal charges for the incident. Video captured someone yelling "Allahu Akbar" just as a protester threw an "ignited device" during an anti-Islam demonstration in New York City.
Artificial intelligence can give some workers "brain fry" if overused, according to a new study published in Harvard Business Review.
Energy Secretary Chris Wright said "what you're seeing is emotional reactions and fear that this is a long-term war." He stressed that "this is not a long-term war."
Ford has issued two recalls affecting nearly 1.74 million of its cars in the U.S., due to software issues impacting the vehicles' rearview camera displays that could increase crash risks.
Michigan Medicine will drop thousands of Blue Cross Blue Shield members if a deal isn't reached.
HHS Secretary RFK Jr. wants the popular coffee chains to prove their surgery drinks are safe for teens and suggested the Trump administration could place limits on your cup of coffee.
Water testing has detected "low levels" of Legionella bacteria at two more Oakland County government buildings.
Tests of dozens of baby formulas by Consumer Reports found that nearly half contained potentially dangerous chemicals.
Henry Ford Health and Teamsters Local 332 remain locked in a labor dispute over a nurses' contract.
Tarik Skubal is thinking about pitching again for the United States in the World Baseball Classic after the Detroit Tigers ace had previously planned to make just one start.
John Gibson and Cam Talbot combined to make 31 saves, Dominik Shine scored his first NHL goal and the Red Wings beat the Devils 3-0 on Sunday night.
Western Michigan and Eastern Michigan both fired their men's basketball coaches on Sunday, parting ways with former assistants under Michigan State coach Tom Izzo.
Yaxel Lendeborg scored 19 of his 27 points in the first half and Morez Johnson Jr. had 18 points, leading No. 3 Michigan in a 90-80 win over No. 8 Michigan State to give the Big Ten champions a 15th straight conference win Sunday.
Priscah Cherono, 45, and American Nathan Martin were the first to finish in the women's and men's races, respectively.
Rose talks about a new TV series being filmed in Detroit called "South West High," which revolves around a fictional high school in the Motor City.
As Women's History Month kicks off, Donna Murray-Brown, the new president and CEO of Inforum, appears on Michigan Matters.
Penske, a business and racing legend, turns 89 on Feb. 20 and is celebrating his 60th year in racing during 2026.
Claressa Shields talks about giving back to the community and her efforts to increase equity for women in sports.
The roundtable discusses the impact of the high-profile game for advertisers, including Detroit-based Rocket and Redfin.
The Michigan State Police Aviation Unit flew over the tornado path in Southwest Michigan. Three confirmed tornadoes touched down in Southwest Michigan on March 6. Four people died, and several others were injured.
The Transportation Security Administration and Department of Homeland Security are reporting lines of three hours or more at some of the nation's airport security checkpoints.
Southwest Michigan was hit with deadly tornadoes on Friday. Community members share their stories about rescues, the damage and relief efforts.
Michigan Gov. Gretchen Whitmer visited Southwest Michigan to review damage from Friday's tornadoes. Gas prices are seeing a big jump this week. Those headlines, other top stories and weather are in our news brief.
The Kansas City International Airport was evacuated, but reopened Sunday afternoon, as authorities investigated a security situation. CBS News has this report.