When contributing to your retirement account, the Internal Revenue Service (IRS) sets a maximum amount you can contribute each year. The maximum the IRS will let you contribute to a 401k plan in 2011 remains the same as it was in 2010.
Taxes & Tax Help
Find all the tax help and tips you've been looking for with informative articles on everything from income and federal taxes to tax filing tips. Understand what deductions you're eligible for, how much money you have to make to file taxes, what forms farmers should be filling out and plenty of how-tos. How exactly do I fill out the 1040? What tax bracket do I fall into? Find the answers to all these questions and more at BrightHub's Personal Finance channel.
In December 2010, President Obama signed the Tax Relief, Unemployment Insurance Re-authorization and Job Creation Act of 2010, answering the question “will energy efficient tax credit be extended in 2011?” However, the new legislation places limits on credits allowed for many energy efficient items.