July 10, 2006 – The IRS continues to struggle to issue retirement-related guidance and to complete other IRS tasks in the wake of recent flooding that damaged its headquarters building in Washington, D.C. The IRS had announced early in July that two classes of published guidance were postponed due to the recent flooding—private letter rulings (PLRs) and Internal Revenue Bulletins. For a second week, no PLRs to taxpayers have been released.
The IRS also reports that many documents stored within its databases are currently inaccessible, but offers assurances that data has not been lost. Some IRS representatives have reported to BISYS® Retirement Services that they are without computer access, and timetables for the completion of a number of projects are uncertain at this time.