Which of the Following Statements Is Incorrect Regarding the SEP

question 80

Multiple Choice

Which of the following statements is incorrect regarding the SEP IRA?

• A)Both employers and employees can contribute to the plan.
• B)Contributions made by the due date of the tax return can be treated as made on the last day of the related tax year.
• C)Employer contributions must be nondiscriminatory.
• D)The maximum contribution for 2015 is $53,000.

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Definitions:

Fractionating Conflict

The strategy of breaking down a large or complex conflict into smaller, more manageable disputes.

Collaborative Ideal

The principle or aim of working together cooperatively and harmoniously towards a common goal or solution, often in contexts of teamwork or negotiation.

Trust/Low Distrust

A state of confident expectation in someone's character, ability, strength, or truth, or its absence resulting in skepticism and caution.

Intractable Negotiation

A negotiation perceived as impossible to resolve due to deep-seated disagreements, high complexities, or significant power imbalances.