Lee B Posted July 11, 2023 Report Share Posted July 11, 2023 "In the process of drafting conforming amendments, the Act inadvertently deleted the provisions in the Internal Revenue Code that permit catch-up contributions. As a result, catch-up contributions, either pre-tax or Roth, will not be allowed after this year. To address this error in the legislation, Congress would need to pass additional legislation to reinstate the catch-up provisions. Although it seems that Congress will act on this, the time frame is unknown. " Assuming that Congress fixes this glitch, catchup contributions made by employees whose wages exceed $145,000 will no longer be tax free! Watching laws being created is like watching the ingredients going thru a grinder to make sausage - a frigging bloody mess! 2 Quote Link to comment Share on other sites More sharing options...
Sara EA Posted July 13, 2023 Report Share Posted July 13, 2023 Normally it's an easy fix for congress to amend legislation to correct oversights like this. With the divisiveness in congress now, however, I'm not confident that they'll agree on anything. 3 Quote Link to comment Share on other sites More sharing options...
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