
Washington National Tax summarizes key tax aspects of President Biden’s American Jobs Plan and the Made in America Tax Plan.

IRS guidance on the 15% maximum on automatic contributions, 401(k) and 403(b) plan safe harbor requirements, and plan loan offset rollovers.

Many limitations, including the 401(k) elective deferral limit for employee contributions, remain unchanged from 2020 levels.

Tax planning opportunities for consideration in light of COVID-19, the resulting economic crisis, and evolving tax laws and regulations.