The IRS and Social Security Administration each year announce the cost-of-living adjustments affecting tax and employee benefits dollar amounts for the upcoming calendar year. Some of the highlights for 2015 are listed below.
*Retroactively increased to $250/month, as of January 1, 2014, by Tax Increase Prevention Act of 2014 (TIPA) on December 19, 2014. Also see IRS Notice 2015-2.
Link to the SS announcement 10/22/14
IRS announcement on Retirement plan COLAs & $ limits
Increases the Health Savings Account (H.S.A.) maximum annual contribution for 2015
IRS announcement “In 2015, Various Tax Benefits Increase Due to Inflation Adjustments”
Rev. Proc. 2014-61, 2014-47 IRB: This revenue procedure sets forth inflation-adjusted items for 2015