Tax codes

[bunchmarine]

what tax code do i put in the deductions page for 401k pre-tax and 401k roth. i need both due to i have some employees on pre-tax and some on roth. if you don't have the answer please direct me where to go for the answer. Thank you so much! I really appreciate your help!

[Paul Mayer]

I'm assuming that you've already seen the Tutorial "How to setup and use non-taxable deductions" at http://zpay.com/help.

Normally we tell users to discuss this with their accountants to be sure it is correct. Here is an overview:

Box 11 Nonqualified plans

Box 12 See instructions for box 12
This box prints Special Disclosure Items such as 401(k) contributions. While there are 19 different codes provided for by the IRS, the Payroll module will only report the following 6 codes:

Code D–401(k) plans
The employee’s portion of any deduction listed under the pre-tax option.

Code E–403(b) plans
The employee’s portion of any deduction listed under the pre-tax option.

Code F–408(k)/SEP
The employee’s portion of any deduction listed under the pre-tax option.

Code S–408(p)/SIMPLE
The employee’s portion of any deduction listed under the pre-tax option.

The code letter (D, E, F, S) will print to the left of the amount in the space provided in box 12.