From the Reporters
Carole Matthews

Advice from the IRS Will Soon Cost More

 

If you need the IRS's advice on whether your simplified employee pension plan is too complicated or a pre-filing agreement on how much money your multinational business will owe in tax on imports, you'll want to get it by Jan. 31, 2006, according to New York Times article today.

As of Feb. 1, 2006, businesses will be paying more in user fees for such things as:

* A request for changes in accounting method, which will increase from its current rate of $1,500 to $2,500,

* An opinion letter in relation to prototype IRAs, SEPs, SIMPLE IRAs and Roth IRAs, which will cost anywhere from $200 to $4,500, up from its current range of $125 to $2,570, and

* A pre-filing agreement, which will increase significantly to a flat fee of $50,000 from its current cap of $10,000.

For more information on the increases and news on increases for exempt organizations, go to www.irs.gov/newsroom/article/0,,id=151979,00.html.