Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Regulation and Compliance > Federal Regulation > IRS

IRS Proposes Determination Letter Schedule

Your article was successfully shared with the contacts you provided.

NU Online News Service, Sept. 13, 2004, 5:22 p.m. EDT

The Internal Revenue Service has proposed a new schedule for evaluating whether employee retirement plans qualify for tax breaks.[@@]

The IRS has suggested in Announcement 2004-71 that it might review individually designed employee plans every 5 years and pre-approved plans every 6 years.

The IRS would use taxpayer identification numbers to schedule exams for the individually designed plans.

The IRS wants to reorganize the way it handles determination letters to even out its flow of work. Improving workflow should help the IRS do a better of balancing determination letter reviews, examinations and other tasks, the IRS says.

Public comments on the proposal are due Jan. 3, 2005.

More information about the proposal is on the Web at //


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.