I acknowledge the impact of these changes on your business and employees, Annegc.
Currently, the maximum contribution/deduction limit for a SIMPLE IRA in QuickBooks Online is set as default, and manual editing or updating is unavailable.
While we're unable to provide a specific timeline for implementing the Secure Act 2.0, please be assured that we are committed to complying with the IRS regulations, and necessary changes will be automatically reflected in the system.
For more information regarding contribution and benefit limits, please visit the following link: Retirement Topics- Contributions.
Additionally, you might find it helpful to explore the forthcoming changes and new offerings by referring to this resource: SECURE Act 2.0: Small Business Owner Guide and Key Retirement Changes.
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.
