Benefits Biz Blog

To Redline or To Not Redline...

 

 

To Redline or To Not Redline...

 

Written by Nick Curabba

 

Back in February, we blogged about the IRS's odd new requirement to provide redlined plan documents with Cycle C determination letter requests.  It appears that there were more than just Suzanne Wynn and us that thought this new document standard too cumbersome.  During a session at today's ABA Section of Taxation meeting in Washington, D.C., Andrew Zuckerman from the IRS announced that, after receiving some bruising comments from the regulated community and practitioners, the Service has decided to pull back from the redlining brink.  Rather than require the submission of documents showing changes and amendments, Mr. Zuckerman said plans will be "encouraged" to voluntarily submit redlined documents.  Given the awfully large stick the IRS wields, we are curious as to the exact nature of this "encouragement."  Further details are expected to be released by the Service in writing shortly, Mr. Zuckerman said

 

 

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This page contains a single entry by Baker & Daniels' BEC Team published on May 9, 2008 3:39 PM.

A Fly in the Ointment: Transparency, Annuity Contracts, and State Insurance Departments was the previous entry in this blog.

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