The IRS announced on November 13, 2025 that the 2026 employee deferral limit for 401(k), 403(b), governmental 457 and Thrift Savings Plan accounts rises to 24,500 dollars, up from 23,500 dollars, while the IRA limit rises to 7,500 dollars from 7,000 dollars. Those numbers anchor any year end tax planning checklist, because many of the best moves must be made before December ends.
This guide gives US taxpayers a checklist of moves to make before December, using IRS limits for 2026 and the standard deduction figures for the 2026 tax year. It draws on the IRS and ConsumerAffairs. It is general information, not tax advice, so confirm decisions with a qualified tax professional.
Why Year-End Planning Matters
Many tax choices depend on what you do before the year closes: how much you contribute to retirement accounts, which expenses you pay and which records you keep. After December 31, most of those choices are gone.
A calm review in November beats a rushed one in late December. Use this checklist to find questions to ask, and use a tax professional for answers specific to your situation.
Retirement Contribution Limits for 2026
The IRS announcement gives the 2026 limits below. Check your plan’s rules and your payroll cut-offs, since contributions through an employer often need to be made through payroll during the year.
| Account type (2026) | Limit (IRS) | Catch-up |
|---|---|---|
| 401(k), 403(b), governmental 457, TSP | 24,500 dollars | 8,000 dollars at age 50 or older |
| Super catch-up, ages 60 to 63 | Instead of the 8,000 dollar catch-up | 11,250 dollars |
| IRA | 7,500 dollars | 1,100 dollars at age 50 or older |
| SIMPLE accounts | 17,000 dollars (18,100 dollars for certain applicable accounts) | 4,000 dollars, or 3,850 dollars for certain plans |
For a long term view of saving, see our guide on how to save 1 million dollars for retirement.
Roth IRA Income Phase-Outs for 2026
If you want to contribute to a Roth IRA, your income matters. The IRS lists these 2026 phase-out ranges.
| Filing status | 2026 Roth IRA phase-out range (IRS) |
|---|---|
| Single and head of household | 153,000 to 168,000 dollars |
| Married filing jointly | 242,000 to 252,000 dollars |
| Married filing separately | 0 to 10,000 dollars |
If your income is near a range, ask a tax professional how to estimate it before you contribute.
Standard Deduction and Other 2026 Figures
ConsumerAffairs, reporting on IRS Revenue Procedure 2025-32 in October 2025, lists the 2026 standard deductions. These apply to returns filed in 2027 for tax year 2026, so they matter for next year’s planning rather than this year’s filing.
| Filing status | 2026 standard deduction (ConsumerAffairs) |
|---|---|
| Single and married filing separately | 16,100 dollars |
| Married filing jointly | 32,200 dollars |
| Head of household | 24,150 dollars |
ConsumerAffairs also lists a health flexible spending account limit of 3,400 dollars for 2026, with up to 680 dollars of rollover, and an annual gift tax exclusion of 19,000 dollars per recipient.
The Year-End Checklist
Work through the list below in November. Not every item applies to everyone.
| Task | What to do | When |
|---|---|---|
| Review retirement contributions | Compare what you have saved with the limits above | November |
| Check your employer plan match | Make sure you capture the full match | Before the last payroll |
| Check withholding | Compare withholding with your expected tax and adjust if needed | November |
| Use flexible spending funds | Check your plan’s deadline and rules | November |
| Gather records | Income forms, receipts, donation records and medical costs | December |
| Review life changes | Marriage, a new child, a new job or a move | November |
| Book a tax professional | Ask about your specific situation | November to December |
Our guide to understanding your credit score can help if you plan to apply for a mortgage or loan next year.
Records to Gather and Common Mistakes
Create one folder, digital or paper, for tax documents. Add income forms as they arrive, receipts for deductible costs, charity receipts and records of any big purchases or sales.
| Common mistake | How to avoid it |
|---|---|
| Waiting until the last week of December | Start your review in November |
| Ignoring employer plan deadlines | Check payroll cut-offs with HR |
| Assuming last year’s figures apply | Use the 2026 limits above |
| Poor record keeping | Keep one folder and scan receipts |
| Skipping professional advice on a big decision | Book an adviser before you act |
If you are also planning household spending, our 50 30 20 budget rule guide helps you make room for extra savings.
