Because the IRS and DOL enforce different laws, the scope of their audits are different. Here are just a few things a joint DOL/IRS audit might encompass.
ARRA earmarked $25 million for DOL/IRS audits
The American Recovery and Reinvestment Act (ARRA) created some relief for out-of-work employees, but with those relief comes the increased likelihood employers will be audited.
47% of companies fail to file Form 5500’s
Nearly half of the companies required to file a health-benefits annual report with the federal government are out of compliance, according to a study of plan sponsors.
