What Does it Mean if Your Form 5500 is Late?

As the October 15th deadline looms closer, many of our clients are asking the question; “What does it mean if our Form 5500 is late?”  If you haven’t looked into this question before, you will be surprised at the substantial penalties that can be assessed.  The DOL takes failure to file return/reports very seriously.  Below …

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NOL carrybacks: re-computation rules

Considering the economic conditions as of late, many taxpayers have found themselves incurring economic losses. These economic losses have translated into taxable losses, which, as a general rule, can be carried back to offset taxable income from up to two years prior. Under special provisions enacted for 2008 and 2009 losses, taxpayers can elect to …

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Have You Filed Your Form 5500?

How to file The July 31st filing deadline has come and gone. Did you file an extension? If you’re not sure, check with your TPA.  We are just one month away from the extended filing deadline, October 15th. Have you filed yet? Beginning January 2010, all Form 5500’s are required to be submitted online through …

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