Welfare Benefit Plans and 419 Plans Litigation - 412i, IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.
Showing posts with label 419 litigation. Show all posts
Showing posts with label 419 litigation. Show all posts
Course 2015 How To Get Fined $100,000 by IRS and Sued by Your Clients
Long Island Tax Professionals Symposium
Course 2015
How To Get Fined $100,000 by IRS and Sued by Your Clients (TAX CPE) (CLE) (CE G1U2N-T-00018-12-I)
Lance Wallach, CLU, ChFC
Lance Wallach, CLU, ChFC
Accounting speaker of the year explains abusive, listed, tax shelters, insurance annuity products sold to your clients including popular retirement 412i, 419 section 79 captive insurance life settlements premium finance reverse mortgages etc. that will get you in trouble. Accountants signing returns face mandatory $100,000 IRS fine. Learn disclosure requirements to avoid large penalties, both to yourself and your client. This popular program helped over 100,000 accountants avoid IRS fines and client lawsuits.
IRS Criminal Investigation Department Audits Section 79, Captive Insurance, 412i and 419 Scams
IRS Criminal Investigation (CI) has developed a nationally coordinated program to combat these abusive tax schemes. CI's primary focus is on the identification and investigation of the tax scheme promoters as well as those who play a substantial or integral role in facilitating, aiding, assisting, or furthering the abusive tax scheme, such as accountants or lawyers. Just as important is the investigation of investors who knowingly participate in abusive tax schemes.
How Hartford Life and Other Insurance Companies Tricked their Agents and Got People in Trouble with the IRS - HG.org
How Hartford Life and Other Insurance Companies Tricked their Agents and Got People in Trouble with the IRS - HG.org
Agents from Hartford and other insurance companies were shown ways to sell large life insurance policies. This “Welfare Benefit Trust 419 plan or 412i plan should be shown to their profitable small business owners as a cure for paying too much taxes.
A Welfare Benefit Trust 419 plan essentially works like this:
• The business provides a fringe benefit for their employees, such as health insurance and life insurance.
• The benefit is established in the name of a trust and funded with a cash value life insurance policy
• Here is the gravy: the entire amount deposited into the trust (insurance policy) is tax deductible to the company,and
• The owners of the company can withdraw the cash value from the policy in later years tax-free.
• The business provides a fringe benefit for their employees, such as health insurance and life insurance.
• The benefit is established in the name of a trust and funded with a cash value life insurance policy
• Here is the gravy: the entire amount deposited into the trust (insurance policy) is tax deductible to the company,and
• The owners of the company can withdraw the cash value from the policy in later years tax-free.
Read more by clicking the link above!
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