Income Taxes and Record Keeping ( tax ) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: jtsaratoga who wrote (1969)	3/10/1999 9:55:00 AM
From: Colin Cody	Read Replies (1) of 5810

JT, I know enough in this area to tell you the rules i.e. Do not over contribute, but I do not know about when a taxpayer does not follow the rules, exactly what happens. If you over-contribute there is a 10% annual penalty ($100 in your case). If it was me I'd have $1,000 taken out retroactively and have my W-2 reflect that. But rely on your 401K administrator. The people you spoke with might be clueless, but 401K have a HUGE burden of compliance, so your company likely hired that job out to a firm of experts. THEY will know the action to take! Colin

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next