IRS Pre-Announcement of 5500EZ New Late Filer Program

[David MacLennan]

During the IRS Phone Forum today Sep 21 2011, Andrew Zuckerman, Director of Employee Plans Rulings and Agreements, said the following (my transcript):

"The last piece of guidance that I think you would be interested in hearing about deals with the 5500EZ. We are establishing a late filer program. There is no such program in effect as there is with the DOL and their late filer program. So we are establishing one and we are very close to completion on that program."

I think the small businesses of America, and plan service providers, owe attorney Alex Brucker a debt of gratitude, as I presume his well drafted 2008 letter to the IRS started the ball rolling on this. This was a glaring inequity against small businesses.

I wish Andy Zuckerman had provided more info, such as what years will be eligible and other details, but I guess we will have to wait.

[Bird]

Thanks for taking the time to listen in and post.

That is, I think, a good thing; frankly I'd rather have some concrete penalty to have these folks (whether they be "innocent" non-filers who didn't know the rules, not-so-innocents who just don't bother with such details, or my own clients who just can't be bothered to pay attention) pay and be done with it, rather than mess around with the begging and pleading nonsense.