Is IRS EPCRS self-correction program working for you?The Employee Plans Compliance Resolution System is a comprehensive system of correction programs for sponsors of retirement plans that are intended to satisfy the requirements of sections 401(a), 403(a), 403(b), 408(k) or 408(p) of the Internal Revenue Code The Internal Revenue Code is the body of law that codifies all federal tax laws, including income, estate, gift, excise, alcohol, tobacco, and employment taxes. These laws constitute title 26 of the U.S. Code (26 U.S.C.A. § 1 et seq. , but which have not met these requirements for a period of time. This correction system allows plan sponsors to correct any compliance failures without endangering the qualified status of their plans. EPCRS EPCRS Employee Plans Compliance Resolution System (IRS) EPCRS European Pharmacopoeial Commission of Reference Substances includes the Self-Correction Program, the Voluntary Correction Program and the Audit Closing Agreement Program (visit www.irs.gov/retirement/article/0,,id=96907,00.html for details). The 2006 Employee Benefit Plans Conference, to be held May 8-10, in Baltimore Baltimore, city (1990 pop. 736,014), N central Md., surrounded by but politically independent of Baltimore co., on the Patapsco River estuary, an arm of Chesapeake Bay; inc. 1745. , will hold a roundtable discussion about the IRS Self-Correction Program. E-mail any anecdotal evidence anecdotal evidence, n information obtained from personal accounts, examples, and observations. Usually not considered scientifically valid but may indicate areas for further investigation and research. , issues and/or and/or conj. Used to indicate that either or both of the items connected by it are involved. Usage Note: And/or is widely used in legal and business writing. questions you have regarding this program to taxletter@aicpa.org so your concerns may be addressed with government personnel at the conference. |
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