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Retirement tax questions
You need to specify very clearly as to whether the Employer Withholding is to a "ROTH IRA", or some other pension plan, like a "ROTH 401k".....the exact specification is critical.
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@macuser_22 Have recently read about Auto-IRA accounts that a few states have enacted, that do encourage employers to set up and withhold for, and most are ROTH IRAs unless the employee opts otherwise (toss "Auto-IRA" into google). I just have no idea if the W-2 that is issued captures that anywhere...but perhaps in box 14 ?
We tend to tell people that the employer withholding can't be for an IRA...I'm starting to wonder if this may be what some folks are referring to.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
‎January 15, 2021
4:26 PM
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