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Employee Plans Compliance Resolution System (EPCRS)

Changes to Compliance Fees for Voluntary Correction Program (VCP)

Changes to Compliance Fees for Voluntary Correction Program (VCP)

In postings to its website, IRS has noted that the current IRS forms for submitting certain employer plan user fees, including fees for employee plan determination letters, show fees that are no longer up to date, and has instructed taxpayers as to how to submit those fees. Background. The Employee Plans Compliance Resolution System (EPCRS) provides […]

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Employee plan determination letter program to be revised; no off-cycle letter applications

Employee plan determination letter program to be revised; no off-cycle letter applications

Ann. 2015-19, 2015-32 IRB IRS has announced that, effective Jan. 1, 2017, the staggered 5-year determination letter remedial amendment cycles for individually designed plans will be eliminated, and the scope of the determination letter program for individually designed plans will be limited to initial plan qualification and qualification upon plan termination. A transition rule will […]

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IRS cautions plan administrators to document hardship distributions and plan loans

IRS cautions plan administrators to document hardship distributions and plan loans

In the latest edition of its Employee Plans News, IRS cautions plan administrators that they must document and keep necessary records of each employee hardship distribution and plan loan. The result of noncompliance could be a qualification failure for the plan.  Click here for the April 1, 2015 Edition of IRS’s Employee Plans News newsletter. Background on […]

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IRS adds safe harbors to its retirement plan qualification correction program

IRS adds safe harbors to its retirement plan qualification correction program

Rev Proc 2015-28, 2015-16 IRB IRS has modified the Employee Plans Compliance Resolution System (EPCRS; IRS’s system of correction programs for sponsors of retirement plans) to include new safe harbor correction methods relating to automatic contribution features in Code Sec. 401(k) and Code Sec. 403(b) plans, as well as special safe harbor correction methods established […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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Associations
Member CA Bar Member Orange County Bar US Tax Court Attorney