Which of the Following Statements Is Incorrect Regarding the SEP

question 1948

Multiple Choice

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

• A) Contributions made by the due date of the tax return can be treated as made on the last day of the related tax year.
• B) The maximum contribution for 2018 is $55,000.
• C) Employer contributions must be nondiscriminatory.
• D) Both employers and employees can contribute to the plan.

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