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Discussion Forum Index --> Advanced Tax Questions --> Simple plan match
Discussion Forum Index --> Tax Questions --> Simple plan match
Lisasig (talk|edits) said:
| 30 April 2008
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| if the employer didn't send in the simple plan match by due date of the return (including extension), can they still deduct the matching contribution? they sent it in several months late due to cash crunch.....I'd tend to think not, but if so, what year would it still be deductible in the year it pertained to?
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JR1 (talk|edits) said:
| April 30, 2008
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| This is in the category of questions you shouldn't ask, Lisa! You booked the accrued Simple at year end, right? So when they pay it, you charge it to that and move on. I've had more than one that was late, one even got hate mail from IRS and I wonder how they knew...but they went away. I'm happy for the grace given with this early program that many folks haven't quite figured out how to properly handle.
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Lisasig (talk|edits) said:
| 30 April 2008
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| whoa, advice well taken, JR....however, I'd still like to know if the IRS would disallow the deduction so I could inform my client about their exposure.....
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Jdugancpa (talk|edits) said:
| 1 May 2008
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| To be deductible, contribution is due no later than due date of return. If it went in late, return s/b amended.
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