This measure opened the issue of what to do about slavery in border states that had not seceded or in areas that had been captured by the Union before the proclamation. In 1864, an amendment abolishing slavery passed the U.S. Senate but died in the House as Democrats rallied in the name of statesâ rights.
The IRS sets limits on after-tax contributions to your IRA. When it comes to retirement plans, a penny saved is not only a penny earned. Thanks to generous tax deductions and other government subsidies, it is also a penny invested. This holds true even when you invest after-tax money into an IRA.
The IRS increases IRA contribution limits to keep up with inflation. This year, most of us can contribute up to $5,500 of earned income to an IRA. Those 50 or older get to add a $1,000 catch-up sum to that limit for a total of $6,500. IRA rules feature no minimum sum that you have to contribute to your IRA.