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Other questions

I saw the Simple IRA contribution issue also and contacted the support team. They put me on the list to get updates.

In QBO, the SImple IRA deferral is calculating as gross minus Section 125 times %, and the employer contribution is calculating as gross pay times %.

According to the IRS, they should be gross pay minus Section 125 times %.

But customer support told me that it should be gross times %,

Which calculation is QBO trying to fix?

I'm scared they won't fix it the right way.

 

Desktop is doing both as gross times %.

Now I have to go into all my clients that have Simple IRAs and make sure the calculations are correct.

I'm changing to a fixed amount on both the deferral and contribution, but agree it is time consuming to have to do that for hourly.