Guest AJM 34 Posted September 4, 2007 Posted September 4, 2007 A Company was closed for business the last week of 2006. The Payroll for the 12/22/2006 payroll was paid on 1/3/2007. My question is do I include this contribution and compensation for ADP testing purposes? The employees 2006 W-2 does not include this contribution, since it was paid in 2007.
Mike Preston Posted September 4, 2007 Posted September 4, 2007 If you search hard enough, you will find a citation that says you can include it or exclude it (that is, count it in 2007), as long as you are consistent from year to year. The vast majority of plans count it in the year it shows up on the W-2.
Guest AJM 34 Posted September 4, 2007 Posted September 4, 2007 I agree with you Mike, that we should count when it shows up on the W-2.
BG5150 Posted September 4, 2007 Posted September 4, 2007 How did the plan treat the deferrlas received in January of '06 (if any)? It should be done in the same manner. QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
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