Thus, I was asked to create this project which perfectly follows the rules of the VFCP but also allows an indeterminant amount of participants to be enterred at once.įor your convenience, I have extracted the VBA code and included it as a separate file, just in case you didn't feel like opening a macro enabled excel project from somebody who you've never met. The manual data entry would've taken far too long. The firm I worked for required a settlement to be calculated in which several thousand participants were involved. The IRS has provided a tool on their website to calculate the damages, but the tool requires that each account be enterred manually, one at a time. The IRS created the VFCP to allow fiduciaries to independently assess the damages owed to clients for lost earnings on these funds. Retirement plan Fiduciaries routinely fail to invest clients' funds into the correct sources by the required dates. This is an Excel VBA Project which was created to complete calculations for the IRS Voluntary Fiduciary Correction Program. You can also individually check new entries against the calculator found at the link provided below. In the Calc tab there is a full table of potential entries with correct values already filled in. When ready, hit alt+f8 and run either smallCalc or LargeCalc for individuals or group calculations respectively. Use the Calc tab for an individual, use the largeCalc tab for multiple participants. Consent To Extend the Time To Assess the Branch Profits Tax Under Regulations Sections 1.VFCP-Calculator To run the project, provide :.Country-by-Country Report 2017 Form-8975.Certificate of Accuracy for IRS Individual Taxpayer Identification Number 2017 Form W-7(COA).Tax Jurisdiction and Constituent Entity Information 2017 Schedule A Form 8975.Employee or Independent Contractor Compliance Self-Assessment For Public Employers 2017 Form 14581-G.EFTPS Business Enrollment Form Dec-2011 Form-9779.Social Security Coverage Compliance Self-Assessment For State and Local Government Entities 2017 Form 14581-F.EFTPS Individual Enrollment Form 2011 Form 9783.Retirement Plan Coverage Compliance Self-Assessment For State and Local Government Entities 2017 Form 14581-E.Advisory Committee on Tax Exempt and Government Entities - Membership Application Aug-2017 Form 12339-C.Other Tax Issues Compliance Self-Assessment For Public Employers 2017 Form 1451-D.Health Plan Administrator (HPA) Return of Funds May 2017 Form 13560.Medicare Coverage Compliance Self-Assessment For State and Local Government Employers Form 14581-C. Volunteer Site Information Sheet Sep-2017 Form-13715.International Issues Compliance Self-Assessment For Public Employers 2017 Form 14581-B.Model VCP Compliance Statement Sep-2017 Form 14568.
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