The IRS announced last month that (1,200) twelve hundred 401(k) plans will be selected at random to receive a compliance check questionnaire in June 2010. The Compliance Check Project is designed to be a comprehensive look into 401(k) plans to help the IRS determine potential compliance issues, gain a better understanding of the reasons for noncompliance and determine any potential plan operational issues. While receipt of a questionnaire does not indicate your 401(k) Plan is technically being audited, your answers (or failure to respond fully and in a timely fashion) could be used as a basis to open an audit; thus we suggest that you contact one of our Shareholders immediately if you receive the questionnaire at (215) 665-3960 or e-mail us at info@taxwarriors.com.
