If you, or one of your clients, sponsor a Savings Incentive Match Plan for Employees (SIMPLE) and have not had the misfortune of undergoing an IRS audit, consider this a wake-up call!
Recently, I was involved in assisting a client who sponsored a SIMPLE IRA plan for his small manufacturing company of about 30 employees. He is a great guy to work for; he genuinely cares for his employees, encourages participation in the plan, makes employer contributions to the maximum allowed, provides solid investment vehicles for the participants to choose from, and genuinely thought he was doing everything right. READ FULL ARTICLE HERE