IRS Filing: Experts Discuss Tactics to Maintain Compliance and Avoid Penalties

ARLINGTON, Va., Nov. 17, 2011 /PRNewswire-USNewswire/ -- With each passing year layer upon layer of new rules and regulations are added to the tax filing process, making achieving compliance with IRS requirements an ever more complicated and difficult task for employers as they prepare their returns.

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Clearly, understanding the latest revisions and what they mean for your organization is a priority for anyone who expects to successfully navigate today's maze of compliance requirements. Could what you marked on your 5500 filings trigger an audit? What is the probable sanction amount under audit-cap? Which types of "non-conforming corrections" work? How many years is it necessary to go back to correct filing errors? With the IRS focused on executing more audits and collecting more penalties, it's more critical than ever to get reliable answers to these questions.

Get the guidance you need to achieve IRS compliance by attending BNA's November 22 webinar, IRS Compliance Initiatives. This 90-minute session provides detailed explanations of the latest IRS requirements and specific solutions to your compliance challenges from leading experts in the field, including Monika A. Templeman, Director of Employee Plans Examinations with the IRS, and Thomas G. Schendt, a partner in the Employee Benefits and Executive Compensation Group at Alston & Bird LLP.  The speakers will candidly discuss what goes on behind the "curtain" of an audit, as well as tactics and viable alternatives — not simply the standard types of corrections — you can count on to maintain compliance and avoid penalties.

Click here to register now. This webinar includes a thorough overview of targeted audit issues including:

• 401(k) questionnaire follow-ups, IRS/DOL referrals, 5500 target issues, audit process, behind-the-scenes reports, and more
• What to do when being audited, how you got there, and how to get out of it
• What to disclose — and not disclose — under the audit to an agent
• Who is liable for recordkeeping errors and why it may be the ER's fault
• How knowing SCP/VCP/VFCP rules differs from the reality of their application
• CAP sanctions, the real factors that go into their dollar amount, and how can you get them lower
• Tips for identifying and resolving plan issues
• Best practice guidance from companies who have survived audits

About the Speakers

Monika A. Templeman is the Director of Employee Plans Examinations for the Internal Revenue Service (IRS). She serves as the Executive Sponsor for the TE/GE International Initiative and for the cross-functional Memorandum of Understanding on Promoter Investigations to deter and stop abusive schemes. She also serves as the IRS Executive Champion for 412 (i) Abusive Tax Avoidance Transaction enforcement efforts and for the Enrolled Retirement Plan Agent (ERPA) program that provides limited enrollment opportunities for un-enrolled preparers.

Monika has over 20 years of experience in IRS management positions. Her previous position was EP Area Manager, Great Lakes. She acted as Director EP Rulings and Agreements in 2005 after graduating from the Executive Readiness Program. She is an attorney, former Corporate Counsel, former Law Professor, and a member of the California Bar.

Thomas G. Schendt is a partner in Alston & Bird's Employee Benefits and Executive Compensation Group. His practice focuses on employee plan litigation, agency civil and criminal audits, investigations and disputes, and voluntary compliance initiatives involving the Internal Revenue Service, Department of the Treasury, Department of Labor, Pension Benefit Guaranty Corporation, U.S. Securities and Exchange Commission, and the Department of Justice. Thomas also regularly counsels large employers on the practical effect of various qualification requirements that are issued by appropriate government agencies. This includes assisting clients with the execution of various plan administration and qualification requirements under Titles I & II of ERISA.

Prior to joining the firm, Thomas was with the Internal Revenue Service, where he held a number of positions beginning in 1988. As technical assistant to the associate chief counsel, Employee Benefits and Exempt Organizations (EBEO) for the Office of Chief Counsel, Internal Revenue Service, he assisted in the coordination of national employee benefits litigation for the IRS, including plan disputes and compliance initiatives. He also acted as a liaison between the National Office of the Internal Revenue Service and various field offices, including Exam and Appeals. The unique combination of Thomas's prior experience dealing with sensitive IRS, DOL, and SEC compliance issues plus his understanding of the practical aspects in the administration and management of retirement plans provides clients with strategic alternatives in a cost effective manner. He earned J.D., M.B.A., and B.S. degrees from Marquette University.

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With our webinar topics covering the broad spectrum of legal practice areas and corporate issues, from Intellectual Property to Privacy to Pensions & Benefits, you can count on BNA to bring you quality content on today's hottest topics. What's more, BNA's Legal & Business webinars are CLE eligible for paying registrants, making it easy to stay compliant with your continuing education needs

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