Tax Law Highlights - 2012
Roth IRA Phaseout Limits
The AGI phase-out range for tax payers making contributions to their Roths is between $173,000 and $183,000 for jointly filing couples, a $3,000 increase from 2011. The same increase is true for singles filing. The range is $110,000 to $125,000. Married individual who file separately and have been actively participating in an employer-sponsored retirement plan should see no changes in the phase-out range. It stayed the same as the previous year: $0 to $10,000.
Note If you need professional help with "Tax Law Highlights - 2012" or have other tax questions, we can help you find a local licensed CPA for a free, no-obligation consultation.