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I over contributed in 2021. I had two employers. Since I did not realize this until after tax deadline, neither plan is allowed to return the excess to me. How do I go about reporting excess contribution? Detailed help is much appreciated. Thank you!
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your wages will be reduced only by the maximum allowed contribution.
After that there is nothing to do.
Hi fanfare, thanks for responding. Just to clarify, I am talking about last year's taxes, where I got a new job resulting to over contribution.
So you mean to say I don't have to send IRS anything? They will just automatically taxed for the excess?
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