The IRS is checking up on certain companies with these retirement plans. More specifically, a compliance check letter has been sent to firms that appear to have more than 100 employees (as indicated by the number of W-2s filed) because SIMPLE-IRAs are limited to companies with 100 or fewer employees. Employers can email questions to the IRS at [email protected] with “SIMPLE IRA Plan Project” in the subject line.
New blog post today: The Small Business Story Behind Carrier Job Retention
