The Tax Professionals Blog — 401(k)
How to handle multiple 401(k) accounts during tax time
Posted by Lee Reams Sr. on
It is not uncommon for individuals to have multiple employers, each with a 401(k) plan. This can possibly create a situation where the employee makes an excess elective deferred compensation contribution. The maximum annual contribution is $18,000 ($24,000 if age 50 and over).