Advisory Committee on Tax Exempt and Government Entities (ACT ...

More documents

Recommendations

Info

Improving the Employee Plans Compliance Resolution System: A Roadmap For Greater ComplianceSelf-Correction Contribution ErrorsScriveners' Errors andDocument RelatedIssues Size of the PlanPromote Awareness andCommunication GeneralExpand the ability to selfcorrect;IRS is not capableof processing formalapplications in a timelymannerPublish indexes that canbe used for earningscorrections; for example,allow the crediting ofinterest at the applicablefederal rateProvide more practicalexamples for correctionmethodsExpand the list of IRSapproved correctionmethods, make themeasier to applyExtend the time periodunder SCP to 5 years toself-correct significantCompliance FailuresAdd a minimum correctionamount for 402(g)excesses corrected by4/15 of the following year;if corrected after 4/15apply $50 minimumCoordinate and applyuniform correctionsAllow self-correction of"insignificant failures"during audit, moreguidance re: "insignificant"Adopt the method used tocompute the Gap PeriodIncome in the final Rothrules to rectify earningsGuidelines for 412(i) plansmay be too stringentExpand use of correctionby plan amendment toother operational errorsCorrect lost earnings dueto late payment of electivecontributions with DOLcalculatorExtend self-correctionperiod for significantOperational Failures byone plan yearAllow distribution ofemployer dollars to correct415 excessesExtend the duration of theself-correction period forsignificant Plan FailuresExtend the time periodunder SCP to 5 years toself-correct significantADVISORY COMMITTEE ON TAX EXEMPT AND GOVERNMENT ENTITIES (ACT) June 11, 2008 50
Improving the Employee Plans Compliance Resolution System: A Roadmap For Greater ComplianceSelf-Correction Contribution ErrorsScriveners' Errors andDocument RelatedIssues Size of the PlanPromote Awareness andCommunication GeneralCompliance FailuresAny expansion of selfcorrection periodExpand self correctionperiodADVISORY COMMITTEE ON TAX EXEMPT AND GOVERNMENT ENTITIES (ACT) June 11, 2008 51
Page 5:
ADVISORY COMMITTEE ON TAX EXEMPT AN
Page 9 and 10:
MEMBER BIOGRAPHIESGOVERNMENT ENTITI
Page 11 and 12:
GENERAL REPORTOF THEADVISORY COMMIT
Page 13:
General Report of the Advis
Page 18: Improving the Employee Plans Compli
Page 23 and 24: Improving the Employee Plans Compli
Page 71 and 72: EXHIBIT DSubmission Type:(insert fr
Page 73 and 74: EXHIBIT D (CONTINUED)18. Descriptio
Page 75 and 76: EXHIBIT D (CONTINUED)VCP CHECKLISTT
Page 77 and 78: EXHIBIT D (CONTINUED)23. Have you i
Page 79 and 80: EXHIBIT D (CONTINUED)Instructions f
Page 81 and 82: EXHIBIT D (CONTINUED)23. Under Exam
Page 83 and 84: ADVISORY COMMITTEE ONTAX EXEMPT AND
Page 85: The Appropriate Role Of The Interna
Page 88 and 89: The Appropriate Role Of The Interna
Page 118 and 119:
The Appropriate Role Of The Interna
Page 120 and 121:
Page 122 and 123:
Page 124 and 125:
Page 126 and 127:
Page 128 and 129:
Page 130 and 131:
Page 132 and 133:
Page 134 and 135:
Page 136 and 137:
Page 138 and 139:
Page 140 and 141:
Page 142 and 143:
Page 144 and 145:
Page 146 and 147:
Page 148 and 149:
Page 150 and 151:
Page 152 and 153:
Page 154 and 155:
Page 156 and 157:
Page 158 and 159:
Page 160 and 161:
Page 162 and 163:
Page 164 and 165:
Page 166 and 167:
Page 168 and 169:
Page 170 and 171:
Page 172 and 173:
Page 174 and 175:
Page 176 and 177:
Page 178 and 179:
Page 180 and 181:
Page 182 and 183:
Page 184 and 185:
Page 186 and 187:
Page 188 and 189:
Page 190 and 191:
Page 192 and 193:
Page 194 and 195:
Page 196 and 197:
Page 198 and 199:
Page 201:
The Streamlined Closing Agreement F
Page 204 and 205:
Page 206 and 207:
Page 208 and 209:
Page 210 and 211:
Page 212 and 213:
Page 214 and 215:
Page 217:
ADVISORY COMMITTEE ONTAX EXEMPT AND
Page 220 and 221:
PROTECTING PLAN BENEFITS:IMPROVING
Page 222 and 223:
Page 224 and 225:
Page 226 and 227:
Page 228 and 229:
Page 230 and 231:
Page 232 and 233:
Page 234 and 235:
Page 236 and 237:
Page 238 and 239:
Page 240 and 241:
Page 242 and 243:
Page 244 and 245:
Page 246 and 247:
Page 248 and 249:
Page 250 and 251:
Page 252 and 253:
Page 254 and 255:
Page 256 and 257:
Page 259 and 260:
Page 261 and 262:
Page 263 and 264:
Page 265 and 266:
Page 267:
Page 271 and 272:
Tax Treatment Of Cellular Telephone
Page 273 and 274:
Page 275 and 276:
Page 277 and 278:
Page 279 and 280:
IRC, 2007-CODE-VOL, SEC. 280F. LIMI
Page 281 and 282:
PENIRC S 274 Page 1 of 12IIRC, 2007
Page 283 and 284:
PENIRC S 274 Page 3 of 12relationsh
Page 285:
Employee Cell Phones Page 1 of 1Emp
Page 289 and 290:
15. Special Rules for Various Types
Page 292:
Withholding RequirementsACCOUNTING
Page 299:
Page 303 and 304:
Governmental Relationship and Commu
Page 305 and 306:
Page 307 and 308:
Page 309 and 310:
Page 311 and 312:
Page 313 and 314:
Page 315 and 316:
Page 317 and 318:
Page 319 and 320:
Page 321 and 322:
Page 323 and 324:
Page 325 and 326:
Page 327 and 328:
show all

Advisory Committee on Tax Exempt and Government Entities (ACT ...

Create successful ePaper yourself

Delete template?

Save as template?