Denver IRS Correction Program Lawyer

Colorado ∙ Denver/Englewood Operational Error Attorney

When operational or compliance errors arise involving retirement plans, employers need to make sure the correction is both timely and proper. When corporations, nonprofit organizations and other employers handle the correction themselves, they are often unaware of the options available under various IRS programs. This can lead to greater exposure of continued noncompliance.

Denver IRS correction program attorney Ralph W. Shaw has more than 25 years of experience helping retirement plan sponsors deal with the many issues that arise, including tax issues and IRS correction plans. Shaw Law represents corporations, nonprofit organizations and other employers with retirement plan tax correction.

IRS Correction Programs

The IRS offers three main correction programs for operational and document errors in employee plans:

  1. Self-Correction Program (SCP): The SCP is appropriate for employers who discover an error on their own, without a plan operation audit. The SCP process involves simply adding a corrective memo to the file describing the problem and the steps taken to correct the problem; this plan does not require submitting anything to the IRS. However, determining which errors are eligible for SCP and the correction window available can be a challenge.
  2. Voluntary Correction Program (VCP): Like the SCP, the VCP is used when filing errors are discovered prior to a government audit, but the particular error is not eligible for self-correction. The VCP involves a formal submission that must be approved by the IRS.
  3. Audit Closing Agreement Program (Audit CAP): As the name implies, the audit CAP program occurs in conjunction with an audit. When compliance issues are discovered as a result of an audit, this plan involves an agreement to resolve the issues. Shaw Law has experience negotiating the agreement.

Shaw Law represents employers in all types of correction programs to minimize costs and liabilities efficiently and effectively.

The IRS may treat taxpaying entities differently when they are not represented by a lawyer. Shaw Law serves as a liaison between employers and the IRS. The firm handles audit CAP negotiations and helps clients through the SCP and VCP processes.

Contact Shaw Law

To schedule a consultation with an employment and tax lawyer with more than 25 years of experience handling all types of matters under ERISA and other relevant laws, call 720-924-1040.