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Guest Article
(From the June 16, 2008 issue of Deloitte's Washington Bulletin, a periodic update of legal and regulatory developments relating to Employee Benefits.)
In the Spring 2008 edition of its e-newsletter, Retirement News for Employers, IRS outlines the steps an employer should take if it receives a letter or phone call from IRS notifying it of a plan audit. The article, by Monika Templeman, Director of EP Examinations, highlights a number of examination related tools for employers available on the IRS's website (www.irs.gov/ep). These tools include the "Top Ten Tips to Prepare for an Efficient Audit," which is reproduced at the end of this article.
The initial contact letter from IRS will include a list of items the agent will examine. IRS indicates that the requested items should be available and organized for the agent's visit, which will generally take place at the location where the original documents are maintained. In addition to the "Top Ten Tips," other tools available on the IRS's website to assist employers include:
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Top Ten Tips to Prepare for an Efficient Audit
Below are tips to assist you in preparing for an examination of the return for your plan and trust. Underlined text embedded in each one of the ten tips below will link you to detailed information on that tip.
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The information in this Washington Bulletin is general in nature only and not intended to provide advice or guidance for specific situations.
If you have any questions or need additional information about articles appearing in this or previous versions of Washington Bulletin, please contact: Robert Davis 202.879.3094, Elizabeth Drigotas 202.879.4985, Mary Jones 202.378.5067, Stephen LaGarde 202.879-5608, Erinn Madden 202.572.7677, Bart Massey 202.220.2104, Mark Neilio 202.378.5046, Martha Priddy Patterson 202.879.5634, Tom Pevarnik 202.879.5314, Sandra Rolitsky 202.220.2025, Tom Veal 312.946.2595, Deborah Walker 202.879.4955. Copyright 2008, Deloitte. |
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