perkinsran
Jul 8 2002, 11:48 AM
Can a small employer establishing a PSP claim the small employer startup tax credit if the only plan they have maintained in the last five years is a SIMPLE?
R. Butler
Jul 8 2002, 12:59 PM
If employer maintained a SIMPLE within the past 3 years that employer would not be elgible for the credit. A SIMPLE IRA is considered an Eligible Employer Plan for purposes plan for purposes of the credit.
See EGTRRA §619.