SIMPLE IRA Mistake
My client opened a SIMPLE IRA for her small company last year. The participants are her and her daughter. She made monthly EE and ER contributions. However, I just learned that she did not inform her Payroll company of the EE payroll deductions and contributed from her Corporate bank account. So, the W2s for her and her daughter did not reflect the EE deductions. Can we amend the 2022 W2s to show the Employee deductions that were supposed to be reported?
Thank you for your assistance.
Permalink Submitted by Alan - IRA critic on Thu, 2023-03-23 22:01