Small Pension Plans:

Concerns About the IRS Actuarial Audit Program

HRD-93-64: Published: Jun 30, 1993. Publicly Released: Jun 30, 1993.

Additional Materials:

Contact:

Office of Public Affairs
(202) 512-4800
youngc1@gao.gov

Pursuant to a congressional request, GAO analyzed the impact of the Internal Revenue Service's (IRS) Actuarial Audit Program on small business sponsors of defined benefit pension plans.

GAO found that: (1) IRS initiated its small pension plan audit program to identify abusive tax practices; (2) IRS did not address issues and questions needing immediate resolution when it initiated the program or provide definitive guidance for examining defined benefit plans; (3) in July 1991, IRS implemented the Actuarial Resolutions Program to provide taxpayers with an opportunity for quick resolution of their cases; (4) IRS data showed that most audited plan returns were those of highly paid professionals; (5) in many cases, IRS did not find sufficient evidence to support lower interest rate or retirement age assumptions; and (6) IRS may be unable to support its assumptions for computing allowable pension contributions.

Sep 22, 2014

Sep 18, 2014

Aug 11, 2014

Jul 29, 2014

Jul 22, 2014

Jul 18, 2014

Jul 7, 2014

Jul 2, 2014

Jun 13, 2014

May 30, 2014

Looking for more? Browse all our products here