George4Tacks
Level 15
05-10-2022
05:30 PM
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@CUSO It does appear your client is subject to a 6% penalty for excess contributions.
https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-seps should get you pointed in the right direction to help them possibly amend their 1040 and work on correcting these contributions.
Answers are easy. Questions are hard!