The Internal Revenue Service (IRS) and U.S. Dept. of Labor (DOL) have announced that qualified deferred compensation plans sponsored by companies in the forest products industry are an enforcement priority in 2006. Forest products companies can expect to see the number of IRS and DOL examinations of documents, including 401(k) and profit-sharing plans, increase significantly this year. The agencies are closely examining these retirement plans and focusing on areas of historically poor compliance.
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