One-Participant 401(k) Solo Plans on IRS Radar

The Tax Exempt and Government Entities (TE/GE) 2021 list of priorities includes Solo K Plans. Their focus is to review one-participant 401k Plans to determine if there are operational or qualification failures, income and excise tax adjustments or plan document violations. 

For a full listing of their focus visit: https://www.irs.gov/government-entities/tax-exempt-government-entities-compliance-program-and-priorities#cs

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