The IRS has updated its annual disclosure revenue procedure (Revenue Procedure 2019-9).  Proper disclosure can prevent imposition of various penalties imposed on taxpayers (IRC §§6662(b)(2), (h), (i) and (j)) and on tax preparers (IRC §6694).

In Revenue Procedure 2015-31 the IRS has made permanent, with some changes, the pilot program it created in Revenue Procedure 2014-32 for a late reporting relief program for certain retirement plans not eligible to participate in the Department of Labor’s Delinquent Filer Voluntary Compliance (“DFVC”) program.  Generally these plans are “one-participant” and foreign plans.