In the article, “Officials Question How to Expand Multiple Employer Plan Relief,” TaxNotes provides an account of Groom Principal Louis Mazawey’s testimony at the December 11 Internal Revenue Service (“IRS”) hearing on the proposed multiple employer plan (“MEP”) regulations aimed at expanding relief to these types of retirement plans.
TaxNotes reports that during his testimony, Mazawey “…suggested that the IRS simply require a plan to have ‘reasonable procedures’ in place.” In response to concerns raised by Pamela Kinard, special counsel to the IRS associate chief counsel (employee benefits, exempt organizations, and employment taxes), Mazawey “…agreed that might be too risky for some but said the IRS could retain the proposed notice procedures as a safe harbor.”
To read the article, please click the link below.