How does a QI renew its QI Agreement?
ANSWER 1: The renewal of the QI agreement continues the QI agreement for a succeeding term. The renewal of a QI Agreement will not be dependent on a review of the QI’s audit report from the last audit under the previous term of its QI Agreement. However, the IRS’ renewal of the QI agreement is in no way a waiver of a QI’s default discovered in that audit.
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