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IRS Offers Novel Retirement Plan Correction Opportunity
Seyfarth Link to more items from this source
[Guidance Overview]
July 19, 2022

"Like all pilot programs, the IRS will evaluate the program's effectiveness and determine whether it will be a permanent fixture of its compliance strategy. So is this new pre-examination compliance program a good thing or a bad thing for plan sponsors? Will the IRS use this to expand its audit abilities by having plan sponsors do its work for them, or will the program end up reducing the odds of a plan being subject to a full scope audit that could drag on for months or longer?"

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