Voluntary Compliance Program News Today

SANTA ROSA COUNTY, Fla. (WKRG) — The Santa Rosa County Clerk of Courts is working to help residents be compliant with their Tourist Development Tax. The Tourist Development Tax is a sales tax on transient rentals that is governed by the Santa Rosa County Clerk of Courts. To help residents become compliant with the TDT, […]

Unclaimed property examinations and new types of regulatory inquiries will pose major challenges for US companies in 2024. Not only are states pushing ahead with more examinations, but...

The SECURE 2.0 Act of 2022 (SECURE 2.0) significantly changes the legal and administrative compliance landscape for U.S. retirement plans. Foley & Lardner LLP is authoring a series of...

The SECURE 2.0 Act contains some provisions that liberalize the rules for fixing particular occasional retirement plan administrative mistakes. The IRS has a comprehensive program for correcting retirement plan failures, the Employee Plans Compliance Resolution System.

Unclaimed property audits and compliance changes will challenge many US companies in 2023. Any company that is not filing annual reports will be at risk of an expensive multi-year...

The Internal Revenue Service (IRS) Voluntary Compliance Program (VCP) is one of the best methods for retirement plan sponsors to come clean and cost-effectively fix their plan errors,...

In the June 3 issue of Employee Plans News, the Internal Revenue Service announced a pilot program to give employers whose qualified retirement plans have been selected for audit a...

A few months back, I was working with a 401(k) plan sponsor on a big Voluntary Compliance Program (VCP) issue. The issue was simple, the latest plan restatement (since 2019) improperly...