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WebA SIMPLE plan can be set up in either of the following ways: Using SIMPLE IRAs (SIMPLE IRA plan) As part of a 401(k) plan (SIMPLE 401(k) plan) SIMPLE plans can only be maintained on a calendar-year basis. SIMPE IRAs. Form 5304-SIMPLE or Form 5305-SIMPLE can be used to set up a SIMPLE IRA plan. When to use Form 5304-SIMPLE: … Web1 day ago · April 13, 2024 3:39 AM PT. WASHINGTON —. President Biden is set to announce that his administration is expanding eligibility for Medicaid and the Affordable … WebThe SIMPLE Plan was designed by Congress to replace the Salary Reduction Simplified Employee Pension Plan (SARSEP). As a result, no new SARSEPs may be established after December 31, 1996. ... • Elective deferrals made to a SIMPLE Plan are subject to Federal Insurance Contributions Act (FICA) and Federal Unemployment Tax Act (FUTA) taxes. java wraps clothing