I too spent an hour on the phone this morning and when my call ended I felt pretty confident the agent understood the issue and the larger implications for all those who are about to discover these incorrect W2 forms.

My agent opened a case for me for a W2 correction and had me upload the retirement plan summary and payroll summary that showed the total deferred in the original SIMPLE IRA deduction item and the total deferred in the SIMPLE IRA Higher Limit deduction item.  On the report I noted that the higher limit total should be added to the amount in Box 12 Code S.  

I later got a call from payroll corrections team.  This agent was far more difficult to communicate with but after answering the same question 5 times I hope they will correct it.  She kept asking me for the year to date total in SIMPLE IRA and annual limit which I repeated was $17,600 for me.  

Thanks for sharing your experience. 

I called back again to speak with another payroll expert regarding my open case# and she seemed to understand the issue. She checked and there are many investigations open with this same problem. She indicated her supervisor told her that the issue was being addressed for all accounts that are affected by the higher limit IRA and that the W2 forms will be updated with the correct information on January 1. Crossing fingers that this is true. So, check the W2s again on Jan. 1 and if they are still not correct, call again to get a manual correction made.

Hello there, @lululime12.

I understand the need to correctly report your Simple IRA contributions on your W-2 forms with QuickBooks Online. Let me provide you with more information about this and guide you in getting the best help available.

Simple IRA is suited as a start-up retirement savings plan for small employers not currently sponsoring a retirement plan. However, you can still contribute to a traditional and/or Roth IRA even if you participate in an employer-sponsored retirement plan.

I recommend consulting with a tax professional for expert guidance. They can:

• Review your specific situation and the QuickBooks Online Payroll setup.
• Advise on the correct W-2 reporting requirements for Simple IRAs.
• Guide potential workarounds or alternative solutions within QuickBooks Online Payroll in accordance with your specific situation.

If everything looks good and ready, but the issue persists, I recommend contacting our QuickBooks Online Payroll support again to have this investigated.

Moreover, with QBO Payroll, you can learn how to wrap up this year's payroll and prepare for the next.

Please keep us updated on the status of your concern. We're always here to ensure your payroll forms are accurate.

It is after Jan 1 and ours are not correct.  I will be calling ... again.

Ditto. Spent 2 hours on the phone with support. They said the W-2 haven't "processed" and to check again on Monday. It's a clear mapping issue, not a "processing" issue. Very frustrating. 

@focusfurthermore  Imagine a company telling you that they can't fix the problem because they haven't finished causing it yet.

My W-2s are now fixed.  Unclear if it was due to a manual correction or they fixed the mapping for everyone. 

Now noticing the form 940 has a similar mapping issue affecting lines 3 and 4.  Sigh. 

just checked and my W2s are now correct as well. Thanks for the heads-up on the 940 mapping issue. So frustrating! Perhaps if QB didn’t wait 11 months after secure act 2.0 was enacted to take action on the higher limit Simple IRAs, they would not be scrambling to fix it. Our company also qualifies for the new 10% non -elective Simple IRA contribution to all employees (to a max of $5,000) which takes effect 1/1/25. I’m bracing myself for the issues that will introduce for the QB teams and I’m betting they ignore it until customers demand it.

Our W2s are correct now as well.  Thanks to all who kept the pressure on Intuit.  I never felt like my one request as taken very seriously but the combination of everyone pushing for the same feature correction seems to have done the trick ... just in the nick of time.  Cutting it too close for my taste but I am thankful to be able to cross this issue off my list.