Andy the Actuary Posted April 17, 2007 Posted April 17, 2007 At last year's EA meeting, I asked an IRS representative why it took the IRS over 20 years to address the "participant v employee" compensation issue under IRC Section 415. The reply: "We had other priorities and didn't get around to it." I'm thinking, in that time, a lot more difficult challenges have been faced and there have been seminal breakthroughs in medicine, technology, communications, and warfare. Plus, we somehow got our daughter out of high school. The final IRS 415 regulations take up some 210 pages depending upon the font and point size. What's going on here? Did we really need them to "get around to" this? Perhaps, the IRS should revert to its erstwhile name, Internal Revenue Bureau. The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.
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