KIP KRAUS Posted June 9, 1999 Posted June 9, 1999 Back on 6/8/98 an employee took a loan and it slipped through at 7%, but should have been 9.5%. I'm sure we should go back and adjust it. Can we recalculate it and spread the additional interest over the remainder of the loan payments, or do we require the past due interesdt to be paid to-date? These or any other suggestions will be appreciated.
Guest Pension Girl Posted May 12, 2008 Posted May 12, 2008 I think it would be considered a PT and subject to a 15% excise tax. You may want to file under VCP for the correction method.
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now