Why has quickbooks not increased the annual allowed max for simple IRA to reflect 2024 secure act 2.0 and the 110% for small business under 25 employees?

I hear your concerns, @gmbpt. I'm here to share details about how QuickBooks Online (QBO) updates Simple IRA contributions.

Please know that QBO relies on IRS updates to determine contribution limits and regulations for retirement plans like SIMPLE IRAs. It means that any changes in IRS rules or contribution limits are incorporated into the program to ensure compliance. Rest assured that QBO will automatically update these limits for you, so you don't have to adjust them manually.

For more details, please refer to this article: Set up or change a retirement plan.

Furthermore, you can run payroll reports in QBO to get a closer look at your business finances.

Keep in touch if you have additional questions about contributions. We're here to help. Stay safe.

This is a long document, I pasted the relevant sections.  Please read specifically section 117 on deferral increases and small businesses with under 25 employees. (high lighted in bold)

Thanks

SECURE 2.0 Act of 2022
Title I – Expanding Coverage and Increasing Retirement Savings

.............

Section 116, Allow additional nonelective contributions to SIMPLE plans. Current law requires employers with SIMPLE plans to make employer contributions to employees of either 2 percent of compensation or 3 percent of employee elective deferral contributions. Section 116 permits an employer to make additional contributions to each employee of the plan in a uniform manner, provided that the contribution may not exceed the lesser of up to 10 percent of compensation or $5,000 (indexed). Section 116 is effective for taxable years beginning after December 31, 2023.
Section 117, Contribution limit for SIMPLE plans. Under current law, the annual contribution limit for employee elective deferral contributions to a SIMPLE IRA plan is $14,000 (2022) and the catch-up contribution limit beginning at age 50 is $3,000. A SIMPLE IRA plan may only be sponsored by a small employer (100 or fewer employees), and the employer is required to either make matching contributions on the first 3 percent of compensation deferred or an employer contribution of 2 percent of compensation (regardless of whether the employee elects to make contributions). Section 117 increases the annual deferral limit and the catch-up contribution at age 50 by 10 percent, as compared to the limit that would otherwise apply in the first year this change is effective, in the case of an employer with no more than 25 employees. An employer with 26 to 100 employees would be permitted to provide higher deferral limits, but only if the employer either provides a 4 percent matching contribution or a 3 percent employer contribution. Section 117 makes similar changes to the contribution limits for SIMPLE 401(k) plans. Section 117 is effective for taxable years beginning after December 31, 2023. The Secretary of Treasury shall report to Congress on data related to SIMPLE IRAs by December 31, 2024, and annually thereafter.

This answer is a joke. Secure 2.0 Act was signed into law on December 29, 2022. The fact that it is nearly September 2024 and QBO has not updated the annual maximum employee deferral for Secure 2.0 is pathetic. 

It is now NOVEMBER, and where is the update?  I've spent hours with customer service, no one has ever heard of the updated SIMPLE law. I'm beyond frustrated

I too have talked with customer service. I have even received information about this secure 2.0 from the institution that manages my simple IRA but quickbooks can't seem to get up to speed. Almost makes me want to get rid of quickbooks. Not to mention I don't like to early withdrawal of taxes they started last month!!