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VCP Whistleblower's Interpretation May Have Been Misguided
Seyfarth
Mar. 11, 2020 "Recently a 'whistleblower' leaked that the IRS had internally announced an upcoming modification to the ... voluntary correction program (VCP) that would have been a significant disincentive for plan sponsors to use the VCP to report and correct plan disqualification errors. The leak went viral ... [A] senior TE/GE official clarified that the VCP was not being changed, and that agents were only reminded that they already had discretion to seek examination of an underlying plan if inquiries and requests for additional information were ignored or if the negotiation of an appropriate correction became deadlocked." MORE >> |
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