the appearance or semblance of truth; likelihood; probability: The play lacked verisimilitude. something, as an assertion, having merely the appearance of truth.
But, the Internal Revenue Service sets limits on how much you can contribute each year to an IRA. There are different limits for single taxpayers and married couples because the government recognizes a couple will likely need twice as much money to retire on than one person. Contribution Limits The maximum anyone under the age of 50 can contribute to an IRA is $5,000 per year. The maximum limit for couples is $10,000, and it doesn't matter if that comes from one person or both. IRS rules allow married couples to each make the maximum contribution even if one of the spouses didn't work that year or earn any income.
If you are married and file a joint return, you may contribute to your IRA even if you don't have earned income but your spouse does. The limit goes up to $6,000 when you turn 50 years old. Any contribution that is more than these limits counts as excess. You can't contribute to a traditional IRA after age 70 1/2. If you do, the IRS counts it as an excess contribution.