PENSION PLAN ALERTPENSION PLAN ALERT
If you have business-owner clients run do not walk to check that their pension plans are in order. And if they are not, quickly ask the Internal Revenue Service for forgiveness. The IRS is coming. The IRS is coming. And it'll be much better for your client if he goes to the Service than if he waits for the Service to find his pension plan's problems. The IRS has added 60 pension examiners to about
January 1, 2006
Rorie M. Sherman
If you have business-owner clients run — do not walk — to check that their pension plans are in order. And if they are not, quickly ask the Internal Revenue Service for forgiveness.
The IRS is coming. The IRS is coming. And it'll be much better for your client if he goes to the Service than if he waits for the Service to find his pension plan's problems.
The IRS has added 60 pension examiners to about 500 already on staff. Their mission in 2006: to conduct about 10,000 “focused examinations,” mostly of small and medium-sized businesses. This is the message from Seymour Goldberg, a member of the IRS Northeast Pension Liaison Group, senior partner in Melville, NY's Goldberg & Goldberg PC. and author of the guide Practical App...
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