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Regulatory framework
2. Entity Classification for Federal Tax PurposesA. Regulatory frameworkSections 301.7701-1 through 301.7701-4 of the Procedure and Administration Regulations provide the framework for determining an...
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...
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On Lawline regarding Abusive Retirement Plans 412i
Lance Wallach featured on Lawline speaking about Abusive Retirement Plans 412i, IRS 6706A Fines and Abusive Insurance product. Here is the story about Bruce Hink purchasing a definet Benefit Retirement...
View ArticleAbusive Offshore Tax Avoidance Schemes
Questions and AnswersQ. What is so important about "OffshoreTransactions"?A. In recent years, a significant increase in offshore activity has been noted among U.S. taxpayers. More and more taxpayers...
View ArticleIRS Targets New Scheme In Employment Plan Arena – Captive Management Companies
By Brian M People think that accountants and tax lawyers lead boring lives. Perhaps that may be true for some, but there is plenty of action these days with the IRS and their Employment Plans tax...
View ArticleDo 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 ArticleIRS Wants You to Know About Schemes, Scams and Cons:
Lance WallachIf it sounds too good to be true, it probably is!" Seek professional advice from the IRS or a Tax Professional before you subscribe to any scheme that offers exemption from your obligation...
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Insurance companies are in big trouble and most do not know it.
Insurance companies are in big trouble and most do not know it.June 13, 2013 HgExpertsCall (516) 938-5007Lance WallachMany life insurance companies are using captive insurance to alter their books...
View ArticleCaptive Insurance Companies and Risk Retention Groups
Captive Insurance Companies and Risk Retention GroupsManaged properly, a captive insurance company can be an effective way of financing the cost of risk. And a key member of a successful captive...
View ArticleBenistar 419 Plans
Since its creation in December 1997, the Benistar 419 Plan, has brought much scrutiny to the tax interpretation of 419 plans. Created by Daniel Carpenter, the purpose of the Benistar 419 Plan was to...
View ArticleInternal Revenue Code Section 79 Plans and Captive Insurance History
Internal Revenue Code Section 79 Plans and Captive Insurance History
View ArticleA pure captive insurance company
A pure captive insurance company is an insurance company created by the owners of an operating business to provide supplemental property and casualty insurance to such operating business. The shares of...
View ArticleSection 79, Captive Insurance, IRS Audits and Lawsuits on 419 and 412i Plans....
IRS Attacks Business Owners in 419, 412, Section 79 and Captive Insurance Plans Under Section 6707A - By Lance Wallach - Taxpayers who previously adopted 419, 412i, captive insurance or Section 79...
View ArticleCaptive Insurance
Choosing a domicile. ■ Regulatory environment. Some jurisdictions are friendlier than others, or their statutes may permit different used and forms of captives. ■ Minimum capitalization requirements –...
View ArticleThe benefits of captive insurance companies
The benefits of captive insurance companies
View ArticleVariable Life Insurance's Bear Market Headaches
JUNE • ALAN What do you do if you have new clients burdened with severely underfunded variable universal life policies?It's a problem that tends to rear its ugly head in a bear market. In fact,...
View ArticleCaptive Insurance
We assist prospective,or existing captive owners and their advisors in evaluating, designing, and implementing captive solutions. We also review existing captive structures and suggest ways that they...
View ArticleHow much life insurance do you actually need
Every once in a while we get a call on our Financial Helpline from someone whose financial adviser recommended that they invest in a permanent life insurance policy (including whole, universal, or...
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Regulatory framework
2. Entity Classification for Federal Tax PurposesA. Regulatory frameworkSections 301.7701-1 through 301.7701-4 of the Procedure and Administration Regulations provide the framework for determining an...
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