IRS Managers Offer Tips on Filing Form 5330 Excise Tax Return

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The Internal Revenue Service makes no de minimis exceptions for filing Form 5330, Return of Excise Taxes Related to Employee Benefit Plans, says David Boyd, manager of employee plans mandatory review at IRS. “We're not going to open that up and offer a de minimis level at which you don't have to file” because IRS lacks authority to waive the requirement, even for small amounts of excise taxes owed, Boyd says. 

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