IRS to Teach About Internal Controls

The Internal Revenue Service (IRS) is hosting a phone forum about good internal controls.

Attendees will learn how effective internal controls are essential to preventing costly mistakes that could jeopardize a retirement plan’s tax-favored status.

During the forum, the agency will share the importance of good internal controls, provide examples of controls and show how they can prevent certain recurring errors. The IRS will also discuss how it evaluates the sufficiency of a plan’s internal controls during an audit.

The phone forum is at 2:00 p.m. EDT on August 8.

More information is here.