It's good to know that your employees met the correct limits, Annegc. Rest assured you'll get the information with the updates of SIMPLE IRA.
As per checking, we don't have a specific timeframe for the implementation date to increase the Simple IRA contribution limits for companies. Since you'll want to contribute more than the system limit, you can confirm it with the IRS for verification. Please be informed that QuickBooks is only in compliance with IRS updates. Any updates from them will automatically reflect in the system.
For more information regarding contribution limits, please visit the following link: Learn about employee contribution limits.
Additionally, you can explore this article for the coming changes and new offerings: SECURE Act 2.0: Small Business Owner Guide and Key Retirement Changes.
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