Each year the IRS issues a list of its top-priority guidance initiatives for the year, called the guidance plan. The long-awaited list of items was issued in late 2009, and sets forth the plan for issuing much-needed guidance for the July 2009–June 2010 year. Of the 42 qualified plan items on the list, 18 of those items were already completed when the guidance plan was released (and a few more have been completed as of the drafting of this article). The task for the IRS through June is to complete as many of the remaining 20-some items as possible, while also being mindful that other priorities may arise to distract from this goal, such as the need to provide guidance for intervening legislation. It is not uncommon for some issues to remain on the guidance plan for several years. A look at a number of provisions from the guidance plan that remain to be addressed, based on the type of plan, will give us an idea of what is in store for the coming year.  Please see the attached article for further details.

 

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