Tax News and Updates

IRS TAX WITHHOLDING ESTIMATOR & 2025 W-4

Improved Tax Withholding Estimator helps workers target the refund they want; shows how to fill out new 2026 W-4

https://www.irs.gov/pub/irs-pdf/fw4.pdf?1736746289

Upload the new 2026 w-4 form to update your employee withholdings. Tap on "Read More"

2026 Standard MIleage Rate-IRS

🚗 Business use: 72.5 cents per mile
📅 This rate applies to miles driven for work/business purposes.

💊 Medical purposes: 20.5 cents per mile
🚚 Moving purposes (for qualifying active-duty military and certain intelligence personnel): 20.5 cents per mile
📍 Both are slightly lower than the 2025 rate.

🤝 Charitable driving: 14 cents per mile
📊 This rate is set by statute and remains the same as in previous years.

2026 BASIC LIMIT ON ELECTIVE DEFERRALS

The 2026 salary deferral limit

401(k), 403(b), and most 457(b) plans:

Standard annual limit on elective deferrals (pre-tax and/pr Roth combined) is $24,500 or 100% of the employee's compensation, whichever is less.

A participant of age 50 or older can make additional age-based catch-up deferral contributions, beyond these limits, of up to $8,000 in 2026

Super catch up (ages 60-63) allows for an additional $11,250 (in lieu of the $8,000) if your plan allows and you're age 60-63 by year-end.

SIMPLE retirement plans:

The elective deferral limit for 2026 is $17,000, with a catch-up of up to $4,000 for those age 50+.

The employee's total elective deferrals to all plans combined cannot exceed the annual deferral limit.