The IRS Tax Exempt and Government Entities division has released its Fiscal Year 2020 Accomplishments Letter PDF. Highlights of our accomplishments during the last fiscal year include:
- Supporting IRS efforts to provide COVID-19-related relief to employers and individuals
- Introducing a new electronic examinations process
- Transitioning to several mandatory electronic forms
- Pivoting to virtual outreach during the pandemic
- Allowing individually designed hybrid plan sponsors to submit determination letter applications
- Continuing to strengthen our fraud, promoter, Abusive Tax Avoidance Transactions and global high wealth programs
You can also review the TE/GE Fiscal Year 2021 Program Letter PDF, which explains our priorities for the current fiscal year and the Compliance Program and Priorities webpage that provides information about additional compliance initiatives.
Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.