IRS Revises EPCRS Guidance with Main Changes in VCP Program Application and Payment
A 120-page revision to the Employee Plans Compliance Resolution System (EPCRS) has been issued by the IRS in Revenue Procedure 2018-52. This system involves three distinct programs that deal with compliance issues arising in qualified retirement programs. These programs are:
Self Correction Program (SCP)
Voluntary Correction Program with IRS Approval (VCP)
Audit Closing Agreement Program (Audit CAP)
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