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You are encouraged to plan early to avoid the potential of a late filing for which the IRS penalties are quite steep.
If this is the first year your organization is required to have an audit, the process can seem overwhelming.
And just like that, I did my first very own Bible journaling. I’m not that good of an artist and I want it to be pretty. It’s not what you put in it that counts but what you get out of it.
It’s your own expressions, your own thoughts and your very own way to undertand the word.
The Form 5500 is due by the seventh month following the plan year end.
An additional 2 ½ month automatic extension is available by filing IRS Form 5568.
(KJV is thou Hardith to understandith) I had to research some things on my Bible app in a different version just to understand it better.
I really would like to read and understand the Bible more. I didn’t know where to start so I prayed about it and then just opened it.
So I went online and began searching ‘Journal Bibles’. The first page it opened too is the one I read and studied for the first night.
If you use an outside third party administrator or an investment provider, have them provide you these documents, if you don’t already have them.
You will need to request an “audit package” which includes the trust and participant accounting.