Articles for: IRS
IRS Clarifies User Fee Exemption For Favorable Determination Letters
When a plan files for a favorable determination letter (FDL) with the Internal Revenue Service (IRS), there is a user fee that the IRS charges to the plan for the [...]
Key words: Fees,IRS
Will a default on a 401(k) loan affect a participant’s credit?
Defaulting on a plan loan does not affect your credit. However, a defaulted loan balance does become taxable income to you. Generally, a plan loan is considered in default at [...]
Key words: 401k,form 1099-R,IRS,loan default
What is the “IRS Correction Program” and how can I benefit from it?
The Internal Revenue Service (IRS) offers the Employee Plans Compliance Resolution System (EPCRS) so that sponsors of retirement plans may maintain the qualified status of their plan. The EPCRS has [...]
Key words: IRS
IRS Raises 2012 Retirement Plan Limits
The IRS has released the cost of living adjustments that affect the dollar limits for pension plans and other retirement-related items for the 2012 tax year. Most of the pension [...]
Key words: HSA,IRS,Pension
Why do I need to restate my retirement plan document
Internal Revenue Code (IRC) Section 401(a) sets out general requirements for a retirement plan to be considered tax qualified. If the plan is tax qualified, the plan sponsor can contribute [...]
Key words: IRS,Plan Document