The U.S. House of Representatives, on December 23, 2022, passed the Consolidated Appropriations Act of 2023, an omnibus spending bill. On December 29, President Biden signed the $1.7 trillion budget bill, which includes The SECURE 2.0 Act of 2022 (Secure 2.0, or The Act). Secure 2.0 builds on the changes made to the retirement system by 2019’s Setting Every Community Up for Retirement Enhancement (SECURE) Act.
We’ve compiled a breakdown of SECURE 2.0’s most impactful tax provisions to individual taxpayers
