The Internal Revenue Service has increased the amounts individuals can contribute to their 401(k) retirement plans. The limit for each account has increased to $20,500 for 2022, up from $19,500 for 2021 and 2020, a 5.1-percent increase.

Revenue for TaxAct was up 8.8 percent for the nine months ended September 30. The third quarter was off substantially but Mark Mehlman, CFO of parent company Blucora said that stemmed from the backlog at the IRS. 

Botkeeper, which provides bookkeeping software utilizing artificial intelligence, has raised $42 million in Series C funding. The round was led by Grand Oaks Capital, which was founded by Tom Golisano, founder and chairman of Paychex.