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Simple IRA missed matching contributions


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I have a new client who informed us that they failed to contribute the mandatory matching contributions on behalf of their employees who participated in a Simple IRA plan. The delinquent contributions cover the years 2003-2010. The client intends to fully correct by depositing the missed matching contributions + earnings and then to file under VCP. Is the client permitted to take a deduction in 2012 for the cumulative missed matching contributions + earnings?

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