Retirement Investment in Small Employers Act provides a credit for microemployers starting pension plans.
The Retirement Investment in Small Employers Act amends the Internal Revenue Code to provide a credit for microemployers starting pension plans. This credit applies to employers with fewer than 10 employees, offering a 100% credit instead of the usual 50%. Additionally, the credit amount is increased from $500 to $2,500. The changes apply to taxable years beginning after December 31, 2024.
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