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Joey Scarpa

10/25/22 IRS Updates Crypto-Related Instructions for 2022

The Internal Revenue Service announced that it has updated the crypto section in the 2022 draft instructions for tax form 1040. “For example, digital assets include non-fungible tokens (NFTs) and virtual currencies, such as cryptocurrencies and stablecoins,” the tax agency detailed.

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10/24/22 IRS Increases 401(k) Contribution Limit

The Internal Revenue Service announced a record increase in allowable contributions to 401(k) and other tax-deferred retirement plans.
Starting in 2023, you will be allowed to contribute up to $22,500 into your 401(k), 403 (b) and most 457 plans or Thrift Savings plans.

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