Audit Support

Audit Support

As retirement specialists, Levy and Associates team of experts have years of experience with audits and more than willing to show our clients how they can be used to their advantage.

An audit, no matter where it comes from, can end up helping a client’s retirement plan. Testing a plan is the best way to ensure that it’s an effective tool for keeping employees happy and coming. 

At Levy and Associates, a clear aspect of our service is to help clients with the IRS or any other regulatory business that deals with retirement planning. 

If an audit notice is given, our CPAs will help our clients prepare by explaining what they should expect, helping them identify and give the proper information, and preparing the correct materials. If asked, Levy and Associates will also represent our client. 

It’s important to note that an IRS audit is not necessarily a sign that anything is wrong. The IRS will audit companies for a few reasons: random sampling, computerized screening, and comparing information received from other sources.

Many clients will choose to initiate annual reviews before an outside interference can occur. We recommend our clients analyze their retirement plan with a close eye to detail in order to uncover any irregularities or oversights. 

An internal review could create the following questions:

  • Are the retirement plan documents and Determination Letters in good standing?
  • Are the qualifications observed for the plan?
  • Are the reporting rules being fulfilled? 
  • Is everyone eligible and those not excluded
  • Are employees notified and are their taxes on loans up to date?
  • Are the plan’s assets managed properly to law and are the paid expenses documented correctly?

Before an IRS audit, our CPA staff will make sure that the electronic systems are correct for the task at hand. Our staff will also work with our client to make sure the accepted accounting rules are applied in order to bring the plan into compliance.

While an audit is commonly seen as negative, in the hands of professionals it can actually benefit the client. By bringing the client’s retirement plan to compliance it allows our dedicated team to implement the procedures to strengthen the plan.

Tailored for you!

Creating the perfect customizable retirement plan is our specialty. To make sure each plan is customized properly, our team only consists of the brightest and most experienced members that have many years of combined experience between them. Each member is able to access some of the best tools around: 

  • Software that allows us to maximize donations while taking into account every variable the client company, market and environment can have
  • Professionalism and experience to guarantee consent with the regulating businesses like the IRS, DOL, etc.
  • Staying up-to-date on the latest training and educating our team, clients, and members on the constantly changing laws and practices
  • Access to financially accurate figures that are sophisticated yet easily understandable to any non-investment expert. 

We strive to be the experts at resolving any issue thrown our way and will always answer any request our client deems necessary.

The business world functions on being unpredictable but at Levy and Associates, we have been able to make that a strength. Our customizable retirement plans use the unpredictable nature of the business world as factors of growth and each plan has built-in safeguards to make sure your company can handle anything. 

Contact Levy and Associates so we can discuss your options and make your dream retirement plan a reality! 

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