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IRS Provides Guidance on Roth Matching or Nonelective Contributions
Trucker Huss
[Guidance Overview]
Jan. 31, 2024
Trucker Huss
[Guidance Overview]
Jan. 31, 2024
"The Employer Roth Contribution will be includible in income of the employee in the year in which it is allocated to the employee's account.... [ Notice 2024-02 ] provides any designated Employer Roth Contributions are generally not considered wages subject to income tax, FICA or FUTA withholding ... Therefore, affected employees will likely have to voluntarily adjust withholding or pay estimated tax payments[.]"
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