New rules for IRS voluntary compliance program

October 2008
Employee Benefit News;Oct2008, Vol. 22 Issue 13, p69
The article discusses the recent modifications introduced by the U.S. Internal Revenue Service (IRS) to enhance the Employee Plans Compliance Resolution System (EPCRS). The IRS has decided to expand the correction method regarding employee savings contributions to include catch-up contributions and Roth contributions. The IRS has also expanded income and excise taxes that it may waive. It relates the benefits of the EPCRS program for employers, human resources/benefits and legal practitioners.


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