by David Torrillo | Jun 3, 2022 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The Internal Revenue Service (“IRS”) Employee Plans function announced that it is piloting a pre-examination retirement plan compliance program beginning in June 2022. This program will notify a plan sponsor by letter that their retirement plan was selected for an...
by David Torrillo | Dec 28, 2021 | Uncategorized
Victims of Hurricane Ida in six states now have until Feb. 15, 2022, extended from January 3, 2022, to file various individual and business tax returns and make tax payments, the Internal Revenue Service has announced. Read...
by David Torrillo | Dec 9, 2021 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
As a firm which specializes in the audits of employee benefit plans, we continually monitor accounting, regulatory and current events which may impact plans. As a member of the Employee Benefit Plan Audit Quality Center (EBPAQC), we recently attended the December 2021...
by David Torrillo | Nov 4, 2021 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
The Internal Revenue Service announced cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2022 in Notice 2021-61, Key employee contribution limits increased The limit on contributions by employees...
by David Torrillo | Jul 16, 2021 | Employee Benefit Plans, Forms and Procedures, News and Press Releases, Policy Updates, Retirement - 401(k), 403(b)
With Revenue Procedure 2021-30, the IRS has updated its Employee Plans Compliance Resolution System (EPCRS). EPCRS permits any plan sponsor of a retirement plan to correct plan failures. EPCRS offers three correction programs: Self-Correction Program (SCP) – Correct...
