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Voluntary Correction Cheaper Than Audit Roulette
Martha Priddy Patterson, online from Thompson Publishing Group Link to more items from this source
Nov. 2, 2000
Excerpt: According to the GAO's recent report, pension plan sponsors who use one of the IRS self-correction programs, such as the Voluntary Compliance Resolution (VCR) program, can expect to pay about one-tenth of the sanction paid by plan sponsors who lose at 'audit roulette' and are caught by the IRS. And these average savings do not include the savings by plan sponsors that quickly and voluntarily correct plan problems under the Administrative Policy Regarding Self-Correction (APRSC) ...

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