Up-to-date guidance for complying with the user fee program of the Service as it pertains to requests for letter rulings, determination letters, etc., on matters under the jurisdiction of the Office of the Division Commissioner, Tax Exempt and Government Entities Division, is provided. Rev. Proc. 2010-8 superseded.
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Showing posts with label IRS Revenue Procedure. Show all posts
Showing posts with label IRS Revenue Procedure. Show all posts
Monday, January 3, 2011
Rev. Proc. 2011-8 - User fees for employee plans and exempt organizations
Rev. Proc. 2011-6 - Employee plans determination letters
Revised procedures are provided for issuing determination letters on the qualified status of employee plans under sections 401(a), 403(a), 409, and 4975 of the Code. Rev. Proc. 2010-6 superseded.
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Rev. Proc. 2011-5 - Technical advice
Revised procedures are provided for furnishing technical advice to area managers and appeals offices by the Office of the Division Commissioner, Tax Exempt and Government Entities, regarding issues in the employee plans area (including actuarial matters) and in the exempt organizations area. Rev. Proc. 2010-5 superseded.
Related Links:
Rev. Proc. 2011-4 - Rulings and information letters; issuance procedures.
Revised procedures are provided for furnishing ruling letters, information letters, etc., on matters related to sections of the Code currently under the jurisdiction of the Office of the Division Commissioner, Tax Exempt and Government Entities. Rev. Proc. 2010-4 superseded.
Related Links:
Monday, December 27, 2010
Rev. Proc. 2010-52
This document describes the procedure by which the plan sponsor of a multiemployer pension plan may request and obtain approval of an extension of an amortization period in accordance with section 431(d) of the Code. Rev. Proc. 2008-67 superseded. Rev. Proc. 2010-4 modified.
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Wednesday, January 20, 2010
IRS Revenue Procedure 2010-08 - Rulings and determination letters
26 CFR 601.201: Rulings and determination letters. IRS Revenue Procedure 2010-08 - Rulings and determination letters User fees for employee plans and exempt organizations. Up-to-date guidance for complying with the user fee program of the Service as it pertains to requests for letter rulings, determination letters, etc., on matters under the jurisdiction of the Office of the Division Commissioner, Tax Exempt and Government Entities Division, is provided. Rev. Proc. 2009-8 superseded. Related Links: IRS Revenue Procedure 2010-08, 2010-01 I.R.B. 234 - Rulings and determination letters (January 4, 2010) [PDF]
IRS Revenue Procedure 2010-06 - Rulings and determination letters
26 CFR 601.201: Rulings and determination letters. IRS Revenue Procedure 2010-06 - Rulings and determination letters Employee plans determination letters. Revised procedures are provided for issuing determination letters on the qualified status of employee plans under sections 401(a), 403(a), 409, and 4975 of the Code. Rev. Proc. 2009-6 superseded. Related Links: IRS Revenue Procedure 2010-06, 2010-01 I.R.B. 193 - Rulings and determination letters (January 4, 2010) [PDF]
IRS Revenue Procedure 2010-05 - Rulings and determination letters
26 CFR 601.201: Rulings and determination letters. IRS Revenue Procedure 2010-05 - Rulings and determination letters Technical advice. Revised procedures are provided for furnishing technical advice to area managers and appeals offices by the Office of the Division Commissioner, Tax Exempt and Government Entities, regarding issues in the employee plans area (including actuarial matters) and in the exempt organizations area. Rev. Proc. 2009-5 superseded. Related Links: IRS Revenue Procedure 2010-05, 2010-01 I.R.B. 165 - Rulings and determination letters (January 4, 2010) [PDF]
IRS Revenue Procedure 2010-04 - Rulings and determination letters
26 CFR 601.201: Rulings and determination letters. IRS Revenue Procedure 2010-04 - Rulings and determination letters Rulings and information letters; issuance procedures. Revised procedures are provided for furnishing ruling letters, information letters, etc., on matters related to sections of the Code currently under the jurisdiction of the Office of the Division Commissioner, Tax Exempt and Government Entities. Rev. Proc. 2009-4 superseded. Related Links: IRS Revenue Procedure 2010-04, 2010-01 I.R.B. 122 - Rulings and determination letters (January 4, 2010) [PDF]
Monday, January 12, 2009
IRS Revenue Procedure 2009-08 - Rulings and determination letters
26 CFR 601.201: Rulings and determination letters. IRS Revenue Procedure 2009-08 - Rulings and determination letters User fees for employee plans and exempt organizations. Up-to-date guidance for complying with the user fee program of the Service as it pertains to requests for letter rulings, determination letters, etc., on matters under the jurisdiction of the Office of the Division Commissioner, Tax Exempt and Government Entities Division, is provided. Rev. Proc. 2008-8 superseded. Related Links:
IRS Revenue Procedure 2009-06 - Rulings and determination letters
26 CFR 601.201: Rulings and determination letters. IRS Revenue Procedure 2009-06 - Rulings and determination letters Employee plans determination letters. Revised procedures are provided for issuing determination letters on the qualified status of employee plans under sections 401(a), 403(a), 409, and 4975 of the Code. Rev. Proc. 2008-6 superseded. Related Links:
IRS Revenue Procedure 2009-05 - Rulings and determination letters
26 CFR 601.201: Rulings and determination letters. IRS Revenue Procedure 2009-05 - Rulings and determination letters Technical advice. Revised procedures are provided for furnishing technical advice to area managers and appeals offices by the Office of the Division Commissioner, Tax Exempt and Government Entities, regarding issues in the employee plans area (including actuarial matters) and in the exempt organizations area. Rev. Proc. 2008-5 superseded. Related Links:
IRS Revenue Procedure 2009-04 - Rulings and determination letters
26 CFR 601.201: Rulings and determination letters. IRS Revenue Procedure 2009-04 - Rulings and determination letters Rulings and information letters; issuance procedures. Revised procedures are provided for furnishing ruling letters, information letters, etc., on matters related to sections of the Code currently under the jurisdiction of the Office of the Division Commissioner, Tax Exempt and Government Entities. Rev. Proc. 2008-4 superseded. Related Links:
Saturday, August 16, 2008
IRS Revenue Procedure 2008-50 - Closing agreements
Part III. Administrative, Procedural, and Miscellaneous 26 CFR 601.202: Closing agreements. IRS Revenue Procedure 2008-50 - Closing agreements This procedure updates the 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 Code, but that have not met these requirements for a period of time. This system, the Employee Plans Compliance Resolution System (EPCRS), permits Plan Sponsors to correct these failures and thereby continue to provide their employees with retirement benefits on a tax-favored basis. The components of EPCRS are the Self-Correction Program (SCP), the Voluntary Correction Program (VCP), and the Audit Closing Agreement Program (Audit CAP). Rev. Proc. 2006-27 modified and superseded. Rev. Proc. 2007-49, section 3, modified and superseded. IRS Revises Voluntary Correction Program for Retirement Plans
IR-2008-96, Aug. 14, 2008
WASHINGTON –– The Internal Revenue Service today issued updated guidance on the voluntary correction program for employee retirement plans – the Employee Plans Compliance Resolution System (EPCRS).
"Employers and plan administrators want to comply with the tax laws and regulations to protect plan participants," said Michael Julianelle, director of the IRS's Employee Plans division. "EPCRS helps employers and plan administrators take a proactive role in identifying and fixing mistakes. It also encourages implementation of practices and procedures that ensure retirement plans comply with laws and regulations."
Under EPCRS, plan sponsors and plan professionals can correct certain errors in employee retirement plans, in some cases without having to notify the IRS. Correcting plans in this way allows participants to continue receiving tax-favored retirement benefits and protects the retirement benefits of employees and retirees.
There are three levels of correction programs in EPCRS:
- The Self-Correction Program (SCP) permits a plan sponsor to correct insignificant operational failures in plans such as qualified plans, 403(b) plans, SEPs or SIMPLE IRA plans without having to notify the IRS and without paying any fee or sanction. In many instances, a plan sponsor may correct significant operational failures without notifying the IRS and without paying a fee or sanction.
- The Voluntary Correction Program (VCP) allows a plan sponsor, at any time before an audit, to pay a limited fee and receive the IRS's approval for a correction of a qualified plan, a 403(b) plan, SEP or SIMPLE IRA plan.
- The Audit Closing Agreement Program (Audit CAP) allows a sponsor to correct a failure or an error that has been identified on audit and pay a sanction based on the nature, extent and severity of the failure being corrected.
In revising the EPCRS revenue procedure, the IRS incorporated comments from the retirement plans community by adding flexibility and increasing correction methods. The new guidance, which is a revenue procedure, makes the following improvements:
- Expands the availability of SCP in situations where operational mistakes have been partially corrected when the plan comes under examination. Also, new examples relating to the exclusion of employees from 401(k) plans have been added to the standardized corrections. The new examples will benefit those who use SCP to correct the failures described in those examples.
- Establishes streamlined application procedures under VCP for numerous issues, including failure to amend plans for law changes, loan problems, failure to make minimum distributions to participants, excess elective deferrals made by participants to 401(k) plans and plans established by ineligible employers. In addition, streamlined application procedures have been developed for SEPs, SARSEPs and SIMPLE IRAs.
- Includes a sample application format that may be used for all other VCP applications. "These revised application procedures should make the correction programs more accessible to small business employers," said Joyce Kahn, who directs the voluntary compliance program. "Also, we anticipate that the new procedures will facilitate an expedited review of a significant number of VCP applications."
- Makes it easier to correct loan failures under VCP. Loans that violate section 72(p) of the Internal Revenue Code may still be corrected even if the loans do not violate the terms of the plan. Also, in many cases, the fee under VCP for correcting loan failures will be reduced by 50 percent.
"The improved correction for participant loans should enable many more participants to bring delinquent loans from retirement plans back into compliance without incurring the tax consequences resulting from those loans being treated as taxable distributions under section 72(p)", Kahn said.
There has been a significant expansion of streamlined application procedures under VCP. "We encourage the public to send comments on how to further improve the program and make it easier for business owners to operate their retirement plans," Kahn added. Related Links: Prior Regulations and Related Links:
Tuesday, January 8, 2008
IRS Revenue Procedure 2008-08 - Rulings and determination letters
Part III. Administrative, Procedural, and Miscellaneous 26 CFR 601.201: Rulings and determination letters. IRS Revenue Procedure 2008-08 - Rulings and determination letters User fees for employee plans and exempt organizations. Up-to-date guidance for complying with the user fee program of the Service as it pertains to requests for letter rulings, determination letters, etc., on matters under the jurisdiction of the Office of the Division Commissioner, Tax Exempt and Government Entities Division, is provided. Rev. Proc. 2007-8 superseded. Related Links:IRS Revenue Procedure 2007-8, 2007-1 I.R.B. 230
User fees for employee plans and exempt organizations. Up-to-date guidance for complying with the user fee program of the Service as it pertains to requests for letter rulings, determination letters, etc., on matters under the jurisdiction of the Office of the Division Commissioner, Tax Exempt and Government Entities, is provided. Rev. Proc. 2006-8 superseded. This revenue procedure is the basic EP and EO user fee procedure.
LINKS: [HTML] [PDF]
IRS Revenue Procedure 2008-06 - Rulings and determination letters
Part III. Administrative, Procedural, and Miscellaneous 26 CFR 601.201: Rulings and determination letters. IRS Revenue Procedure 2008-06 - Rulings and determination letters Employee plans determination letters. Revised procedures are provided for issuing determination letters on the qualified status of employee plans under sections 401(a), 403(a), 409, and 4975 of the Code. Rev. Proc. 2007-6 superseded. Related Links:IRS Revenue Procedure 2007-6, 2007-1 I.R.B. 189
Rulings and information letters; issuance procedures. Revised procedures are provided for furnishing ruling letters, information letters, etc., on matters related to sections of the Code currently under the jurisdiction of the Office of the Division Commissioner, Tax Exempt and Government Entities. Rev. Proc. 2006-4 superseded. This revenue procedure is the basic EP and EO letter ruling procedure
LINKS: [HTML] [PDF]
IRS Revenue Procedure 2008-05 - Rulings and determination letters
Part III. Administrative, Procedural, and Miscellaneous 26 CFR 601.201: Rulings and determination letters. IRS Revenue Procedure 2008-05 - Rulings and determination letters Technical advice. Revised procedures are provided for furnishing technical advice to area managers and appeals offices by the Office of the Division Commissioner, Tax Exempt and Government Entities, regarding issues in the employee plans area (including actuarial matters) and in the exempt organizations area. Rev. Proc. 2007-5 superseded. Related Links:IRS Revenue Procedure 2007-5, 2007-1 I.R.B. 161
Technical advice. Revised procedures are provided for furnishing technical advice to area managers and appeals offices by the Office of the Division Commissioner, Tax Exempt and Government Entities, regarding issues in the employee plans area (including actuarial matters) and in the exempt organizations area. Rev. Proc. 2006-5 superseded. This revenue procedure is the basic EP and EO technical advice procedure.
LINKS: [HTML] [PDF]
IRS Revenue Procedure 2008-04 - Rulings and determination letters
Part III. Administrative, Procedural, and Miscellaneous 26 CFR 601.201: Rulings and determination letters. IRS Revenue Procedure 2008-04 - Rulings and determination letters
Rulings and information letters; issuance procedures. Revised procedures are provided for furnishing ruling letters, information letters, etc., on matters related to sections of the Code currently under the jurisdiction of the Office of the Division Commissioner, Tax Exempt and Government Entities. Rev. Proc. 2007-4 superseded.
Related Links:
- IRS Revenue Procedure 2007-4, 2007-1 I.R.B. 118
Rulings and information letters; issuance procedures. Revised procedures are provided for furnishing ruling letters, information letters, etc., on matters related to sections of the Code currently under the jurisdiction of the Office of the Division Commissioner, Tax Exempt and Government Entities. Rev. Proc. 2006-4 superseded. This revenue procedure is the basic EP and EO letter ruling procedure
LINKS: [HTML] [PDF]
Wednesday, December 19, 2007
IRS Revenue Procedure 2007-71 – Rulings and determination letters
Part III --Administrative, Procedural, and Miscellaneous 26 CFR 601.201: Rulings and determination letters. (Also, Part I, § 403; § 1.403(b)-3.) IRS Revenue Procedure 2007-71 – Rulings and determination letters Tax-sheltered annuities; written program; public schools; model amendments. This procedure sets forth model amendments that may be adopted in order to satisfy certain requirements for a definite written program for certain tax-sheltered annuities under section 403(b) of the Code. This revenue procedure also provides additional relief for certain section 403(b) tax-sheltered annuity contracts. Related Links:
Monday, July 9, 2007
IRS Revenue Procedure 2007-44 – Rulings and determination letters
Part III --Administrative, Procedural, and Miscellaneous 26 CFR 601.201: Rulings and determination letters. (Also, Part I, §§ 401; 1.401(b)-1.) IRS Revenue Procedure 2007-44 – Rulings and determination letters Qualification; determination letters; staggered remedial amendment periods. Rev. Proc. 2005-66, containing the Service's procedures for issuing determination letters pursuant to section 401(a) of the Code with respect to a staggered remedial amendment period system both for plans that are and are not pre-approved, is clarified, modified, and superseded. Rev. Proc. 2005-16 modified. Purpose: Related Links:
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