Employer Contributions to IRAs
My company has been contributing 3% annually toward our employees' SIMPLE IRA retirement accounts. For the 2007 tax year, we filed for an extension on our income tax and my accountant said we did not have to make the IRA contributions, as they are not "due" until we file our company return. My employees are now complaining that I should have made the usual employee contributions in February instead of delaying until filing the company taxes. Am I in the wrong?
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.