Effect on programs. This revenue procedure affects the programs as fol- lows: • consolidates and coordinates guid- ance issued in 1998 and 1999 into a unified EPCRS procedure; • clarifies the application of FICA and FUTA taxes (and corresponding withholding obligations) to cor- rected Qualified Plans and 403(b) Plans; and • clarifies that the statute of limita- tions for purposes of redetermining taxes for a closed taxable year will not be reopened solely because of correction of a failure that occurred in such year.
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Sources: Closing Agreements
Effect on programs. This revenue procedure affects the programs as fol- lowsfollows: • C consolidates and coordinates guid- ance guidance issued in 1998 and 1999 into a unified EPCRS procedure; • C clarifies the application of FICA and FUTA taxes (and corresponding withholding obligations) to cor- rected corrected Qualified Plans and 403(b) Plans; and • C clarifies that the statute of limita- tions limitations for purposes of redetermining taxes for a closed taxable year will not be reopened solely because of correction of a failure that occurred in such year.
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Sources: Rev. Proc. 2000 16
Effect on programs. This revenue procedure affects the programs as fol- lowsfollows: • consolidates and coordinates guid- ance guidance issued in 1998 and 1999 into a unified EPCRS procedure; • clarifies the application of FICA and FUTA taxes (and corresponding withholding obligations) to cor- rected corrected Qualified Plans and 403(b) Plans; and • clarifies that the statute of limita- tions limitations for purposes of redetermining taxes for a closed taxable year will not be reopened solely because of correction of a failure that occurred in such year.
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