Do Not Be Tempted By Any Type of Mini-Captive Program
In some fraudulent schemes, a firm pays a mini-captive for “insurance,” while the captive secretly remits most of the money back to the parent owners, typically by placing it in an offshore account....
View ArticleAvoiding, or at least winning, an IRS challenge
Lance WallachOf course, a Captive insurance company can be extremely beneficial in many aspects, as insurance profits are kept within the group and tax benefits may be obtained. As is true with any...
View ArticleWill Your Municipal Bond or Your Life Insurance Company Still Have Value Next...
Investor protection with municipal bonds is so spotty that there is potential for much mischief. Disclosure, that bedrock of fair securities markets, is the heart of the problem facing municipal...
View ArticleIRS Offshore Voluntary Disclosure Program Reopens.
Offshore International Today IRS Offshore Voluntary Disclosure Program ReopensBy Lance Wallach, CLU, CHFCAbusive Tax Shelter, Listed Transaction, Reportable...
View Article6707A Penalties & 419 Plans Litigation: Audit Lottery, Captive insurance,...
6707A Penalties & 419 Plans Litigation: Audit Lottery, Captive insurance, 419, 412i, Secti...: The audit lottery is a gambit in which taxpayers claim tax benefits to which they are not entitled in...
View ArticleSmall Business Retirement Plans Fuel Litigation
Lance WallachDolan Media NewswiresSmall Business Retirement Plans Fuel LitigationSmall businesses facing audits and potentially huge tax penalties over certain types of retirement plans are filing...
View ArticleThe Future of Life Settlements
Gerson Lehrman Group September 28 SummaryBy Lance WallachMany insurance professionals now think that the life settlement market is ending. Agents assisting their clients in the sale of...
View ArticleBig Trouble Ahead For 412i and 419 Plan Participants - Lance Wallach
Big Trouble Ahead For 412i and 419 Plan Participants - Lance Wallach
View ArticleHelp with Common IRS Problems
There are many problems you can run into with the IRS. The following is an overview and helpful information on some of these confusing issues.· IRS Penalties· Unfiled Tax Returns· IRS Liens· IRS...
View ArticleLance Wallach Expert Witness-Captive Insurance
Lance Wallach Expert WitnessThe I.R.S. is not alone in its campaign against small captives. At a Senate Finance Committee meeting in February, Charles E. Grassley, Republican of Iowa, asked Mark Mazur,...
View ArticleEP Abusive Tax Transactions - Certain Trust Arrangements Seeking to Qualify...
Notice 95-34 discusses tax problems raised by certain trust arrangements seeking to qualify for exemption from IRC section 419. This transaction involves the claiming of deductions under IRC sections...
View ArticleBenistar 419 Plan: Single Abusive Insurance and Retirement Plans
Benistar 419 Plan: Single Abusive Insurance and Retirement Plans: Single Abusive Insurance and Retirement Plans Journal Of Accountancy By Lance Wallach, CLU, CHFC -Employe...
View ArticleHow Hartford Life and Other Insurance Companies Tricked their Agents and Got...
How Hartford Life and Other Insurance Companies Tricked their Agents and Got People in Trouble with the IRS - HG.orgAgents from Hartford and other insurance companies were shown ways to sell large life...
View ArticleLance Wallach Life Insurance: Captive Insurance Buyer Beware
Is a captive insurance cell the way to go? - Accounting Today - Captive Insurance: Achieve large tax and cost reductions by renting a “CAPTIVE”. Most accountants and small business owners are...
View ArticleIRS: Disclose Offshore Accounts or Go to Jail
IRS: Disclose Offshore Accounts or Go to JailBrianThat's pretty much the headline from a CNBC article on Friday. And it's true.In 2009, 15,000 Americans came forward and admitted having foreign bank...
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