A key issue in an IRS audit and related internal Form 5500, Annual Return/Report of Employee Benefit Plan, auditor review is to ensure that the various definitions of compensation under a tax-qualified retirement plan (a ‘‘plan’’) are being properly implemented. In this Bloomberg Tax article, “The Importance of Wage Code Reviews,” Groom associate John Barlow provides background on this issue and discusses various definitions of compensation, the potential consequences of the mistreatment of compensation definitions, and related considerations that are important to maintain the tax qualified status of a plan.

To read the article, click here.

 

Latest Resources

Events

05/16/2024

Groom Event

Events

04/09/2024

National Association of Plan Advisors

Publications

03/26/2024

This Week From the Hill