My bookkeeper withheld and distributed SIMPLE IRA deductions according to the launched plan, and has made the required employer matching contributions, too. One employee elected to participate for 2018, me the owner.
In preparing business taxes, we learned it was not documented properly and the business needs to correct 2018 Payroll Tax & related filings and my W2. The business files Payroll and related taxes quarterly. How to best go about doing that? If a quarterly re-filing solution, does it matter if the $12,500 SIMPLE IRA contribution exceeded my salary for any 2018 quarter? $12,500 was contributed of my $28,000 salary.
