Thus, although TEI believes that the IRS's replacement of the indefinite sanctions under the Walk-in Closing Agreement Program (Walkin CAP) with a defined range of compliance correction
fees represents an improvement over the prior procedure, we submit that the relief provided to employers by the revenue procedure does not go far enough in the following general areas:
Element #5 states: "Facilities should be cautioned that they are ultimately responsible for their own compliance, and that responsibility is not alleviated in cases where notification about the acceptability of their plan of correction
is not made in timely fashion.
Under SVP, the plan sponsor may pay a smaller fixed compliance fee by following the correction
procedure established under SVP.
Form TC 144, "Agents Certificate of Authority and Knowledge", has been introduced for 1996 and is of concern only where an agent signs on behalf of a principal in interest applying for correction
001) improvement in patient wrinkle correction
five years after the patient's last ArteFill treatment, and a statistically significant (p<0.
Walk-In Closing Agreement Program (Walk-In CAP), which enables a sponsor to voluntarily disclose and correct qualification defects that do not qualify under the VCR program, with the payment of a compliance correction
fee based on a new fee schedule.
It is presumably possible to amend a plan shortly after the end of the plan year to add a QNEC provision of this sort (this has been allowed in the IRS correction
You can call people at the District Office-each District has a VCR coordinator whose job is to verify the fact of correction
--but the cases are administered and the decisions affecting the proper plan corrections
are made in the National Office.
What I'm concerned with is that if we do have a serious correction
, people may lose the faith,'' said Maury Elvekrog, a financial adviser and licensed psychologist who heads Michigan-based Seger-Elvekrog Investments.
While APRS let plan administrators make certain limited corrections
without an IRS filing, the correction
had to put any affected participant in the same position he or she would have been in had the error not occurred.
If an employer satisfies the requirements of correction
and filing and paying the tax by Aug.
Krystal Lee, records manager, Corrections
Corporation of America, Adams County, Washington, Miss.
Both error correction
procedures appeared effective in helping Katie read text accurately, but the Word Supply proved substantially more efficient in terms of the number of discrete error corrections
However, to calculate the "true" (or corrected) viscosity, one must apply the Bagley correction
and the Rabinowitsch correction
The Department of Labor issued an updated version of its Voluntary Fiduciary Correction
Program in April, adding transactions that can be corrected under the program and expanding the ability to obtain relief from prohibited transactions.