IRS Set To Probe 401(k) Tax Compliance : Defined Contribution & Savings Plan Alert: "The Internal Revenue Service will begin questioning plan sponsors next year about their tax compliance, including gathering information about their deferral rates, eligibility standards and their requirements to meet non-discrimination tests. The agency plans to do so via a questionnaire.
This is a first for the agency, which has until now obtained tax information on 401(k) plans through routine audits and its compliance program, the Employee Plans Compliance Resolution System, both voluntary.
The questionnaire will provide 'a snapshot of the overall health of a 401(k) plan,' Monika Templeman, the agency's director of employee plan examinations, told DCSPA. She declined ..."
Thursday, February 5, 2009
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