Planning for an Efficient 401k/403b Plan Audit
As the plan sponsor, you are responsible for evaluating all the plan’s service providers, including the independent auditor. If your plan is newly subject to the audit requirement, or if it’s been a while since you evaluated your auditor, consider sending requests for proposals to several potential service providers. In addition to cost, evaluate potential auditors based on their experience with plans like yours, competence in the overall ERISA space, their commitment to integrity and data security, and other qualities.
Telling your Non-Profit’s Story with Form 990
Many organizations view this requirement solely as a compliance function – a box to be checked once per year. But, considering these filings are public information and many donors and grant making organizations will review them before making contributions, it’s wise to be proactive in considering what information gets reported.
How to Handle an IRS CP2000 Notice for Underreported Income
One of the most common notices issued by the IRS is the CP2000, Request for Verification of Unreported Income, Payments, and/or Credits. This notice is generated automatically by the IRS’s computer system when information reported to them about you on Forms W-2, 1098, 1099, etc. does not match the information on your tax return.
ERISA Plan Governance Best Practices
Effective plan governance can help reduce risk for the plan and its fiduciaries, as well as increase the likelihood that plan and participant objectives are met.
IRS Issues Tips for a Smooth Filing Season
The IRS released several tips aimed at ensuring taxpayers experience a smooth filing season. With the IRS dealing with unprecedented processing delays brought on by the pandemic, it’s more important than ever to do what you can to file a timely and accurate return.