Roth Simple IRA payroll plan deduction setup

Thank you for reaching out regarding the Roth SIMPLE IRA payroll plan deduction setup, Lon4.

QuickBooks has yet to officially announce its plan to include a Roth SIMPLE IRA plan deduction for January 1, 2025. 

Currently, QuickBooks Desktop Payroll supports setting up SIMPLE IRA contributions, but due to IRS regulations, it does not support Roth SIMPLE IRA contributions.

While we're unable to provide a specific timeline for implementing this in QuickBooks Desktop, please be assured that we are committed to complying with the IRS regulations, and the necessary changes will automatically reflect in the system.

In the meantime, I recommend checking out these articles to help you efficiently manage your deductions and contributions using QuickBooks Payroll:

• Set up or change a retirement plan.
• Set up and manage company contributions.

We appreciate your proactive approach to staying updated with payroll features. We're here to assist you with other payroll concerns, including managing payroll deductions, payroll reports, or related matters. Just leave a comment below, and we will promptly assist you.

The IRS has already established guidelines and retirement companies that custody ROTH SIMPLE IRA plans have sent us adoption agreements to use this plan.  INTUIT PAYROLL is way behind on this.  I have already had all my employees sign up for the plan so if it's not ready by INTUIT by Jan 1, 2025, you have literally put me as an employer in a very tough situation.  I have been sending emails and providing feedback using the online Intuit program and have yet to get one reply to my inquiries for over 5 months.  I found this thread by doing a google search as I am so frustrated as a user for decades.

Same here been sending everything they had suggested since October and not a thing has been done.  Expect more from intuit.  Kind of there job to be on top of this kind of stuff not just have bots telling us it cant be done or is in the works and they will get it done asap.   

This is a pathetic answer. We have payed double for quickbooks services in the last 1-2 years and now it's not even up to date.

We have an employee signed up as well. How are you handling this situation since Quick books is no help?

By no means should this question be marked SOLVED.

How have I resolved this issue?   I have not. I've done tremendous due diligence and called my custodian that holds our Simple IRA plan and talked to their retirement team of experts.  They can't believe Intuit is so far behind. 

I logged into my Intuit Online Full Service Payroll and noticed ONE BIG sign that they are working on SIMPLE IRAs.  They have updated and added the 2025 Age Banned Contribution choices for the SIMPLE IRA Catchup for people over 50 (there are 3 different catchup increase contribution limits this year for those 50-59, then 60-63 and those over 64+).  I verified the annual  contr. limits were accurate with my custodian for our plan.   What this tells me is that they are working on updating the new law for 2025 with the Traditional pre tax version of the Simple IRA.  So now all they need to do is move on to the ROTH version of the plan. Keep your fingers crossed maybe as a community we have the power of many!   I hope this is false hope but seeing this today made me feel they are working on the SIMPLE PLANS now.

We are also in the same boat.  Still waiting on Intuit and QBs to make the necessary updates to allow for Roth Simple IRA deferrals.  We are now running payroll in 2025 and still can't take advantage of the deferral laws from a 2022 ACT.  

I agree with another poster's sentiment about the rapidly increasing pricing, and similar pace of decline in service.  This is absolutely inexcusable. 

Needing to know when a resolution will happen to let my employees know.  I talked to QB yesterday and all I got was "we have not heard about this type of plan" or an autobot reply.  Our CPA and brokers have done their part, but I don't have a way to track the taxes in QB payroll.  NEED HELP ASAP!

Apparently still not fixed and it's February of 2025.  Was driving myself nuts trying to figure it out and my call to support was no help. 

today is Feb 27th, and Quickbooks FULL PAYROLL has not added the ROTH VERSION of the SIMPLE IRA plan.  DOES anyone at Quickbooks plan on giving us all a time frame for the Roth Simple IRA plan being added so we can use it?   There are many posts with users being frustrated beyond belief and any executive that is responsible at Quickbooks for the release of timely updates, should be FIRED.  They have failed us as users.
I'm requesting on behalf of myself and anyone who has taken the time to inquire about the Roth Simple IRA that management put a notice when we log into QB Full Payroll that gives us timely updates on when it will be available.  Do not respond to this message with a canned answer or any nonsense.  Be specific on how we can get ahold of someone who gets paid for the failure or success of QB.

I'll hear you out, @carterbro. I understand your concern regarding the Roth Simple IRA payroll plan deduction support in QuickBooks Desktop (QBDT) Payroll. As of posting, there isn't a specific timeframe for when this feature will be available. In the meantime, I'm here to provide more details and share some options on how you can manage this.

While this retirement plan isn't supported in QBDT Payroll yet, I recommend maintaining a separate record to manually track Roth Simple IRA contributions, and collaborate with your accountant to create the necessary entries in the software to reflect these wages.

You can also consult your accountant to explore the possibility of creating a payroll deduction item and choosing its correct tax-tracking type. I'm adding this article as a guide: Set up, change, or delete employee-paid payroll deductions.

It's essential that the software accommodates various business needs, especially about supporting Roth SIMPLE IRA . Therefore, I encourage sending your feedback to our Product Engineers.

1. Select the Help option.
2. Choose the Send Feedback Online option.
3. Click on the Product Suggestion option. 
4. Enter your feedback suggestion.
5. Click the Send Feedback button.
   

I hope the information I've shared helps you manage accurately Roth SIMPLE IRA contributions until the feature is available in QBDT. If you have further questions in the meantime, feel free to click on the Reply button. We're committed to offering ongoing support.

As a temporary workaround while QuickBooks gets their act together, could we simply set it up as a "Roth 401(k)) and just make sure the contributions do not exceed the SIMPLE IRA limits? It would seem this would work from a tax standpoint for the employees end of year W-2 form.

Wouldn't a Roth 401(k) workm as a workaround until Quicbooks gets their act together? Understanding you'd have to pay attention to contribution limits, which differ.

TCG

Good morning, @TCG  . 

Welcome to the QuickBooks Community! We appreciate you chiming in and asking a question about a potential workaround. 

To see if this workaround would be right for you and your business, we recommend reviewing this with your accountant. They'll be able to give you the best advice based on what type of business you have plus give you the accounting information you need. 

Feel free to come back and let us know what you all come up with. I'm only a post away!  

Thank you. Feedback has been sent.

I am an accountant and all the workarounds suggested are a joke.  I’m shocked at the how naive all the suggestions are. I’m not here to educate you or anyone who tries to use a workaround. I feel sorry for anyone who does. I asked how we could correspond directly with those who get paid for the success or failure of QB as a company.  Do you all even realize the number of users who have simple IRA plans?????