Article Abstract:
The authors explain and discuss IRS final regulations which provide guidance for electronic administration of qualified employee benefit retirement plans.
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Article Abstract:
The IRS has found in its coordinated examination audit program for exempt organizations that many tax-exempts are not complying with the tax laws for IRC section 403(b) annuity retirement plans. The IRS has established the Taxpayer Voluntary Correction Program to encourage these taxpayers to correct plan defects. This program needed to be established because 403(b) administrators were not eligible for other compliance programs. The IRS has also released proposed examination guidelines to help tax-exempt organizations perform self-audits.
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Article Abstract:
The author discusses issues which may arise and methods to address them concerning the Y2K computer problem in the context of employee benefit plans with a focus on welfare benefit plans.
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