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IRS Eyeing Permanent Benefit Plan Pre-Audit Compliance Program

Nov. 2, 2022, 4:14 PM

A 90-day pilot program that let private-sector worker benefit plans correct annual filing errors before IRS investigators come knocking will likely become a permanent fixture in the tax agency’s enforcement approach, according to agency officials.

Two-thirds of the 100 mid-Atlantic plans that received letters under the pilot project responded, and case files for a third of those respondents were closed almost immediately, Eric Slack, director of the IRA’s Employee Plans Office, said Wednesday at the American Institute of Certified Public Accountants and Chartered Institute of Management Accountants National Tax Conference in Washington, D.C.

Half of the remaining respondents are working ...