New guidance may conflict with IRS rules

Article Abstract:

Issues regarding whether the Field Assistance Bulletin (FAB) 2003-3 plan expenses will be paid from the plan itself or by the plan sponsor or administrator are discussed. The FAB 2003-3 plan has halted its amendments until the IRS provides guidance on whether the allocation of expenses could violate the IRC's qualification requirements.

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Guidance on relief from CAP monetary sanctions

Article Abstract:

This article describes the severity of businesses failing to comply with the IRS CAP regulations, and offers suggestions to companies for dealing with the failure without incurring monetary sanctions that can otherwise be quite substantial.

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IRC section 79

Article Abstract:

The area of employee benefits is gaining vital importance and is a factor that cannot be ignored by the organizations. Internal Revenue Code (IRC) is the plan drawn in the light of section 79.

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