Did you Participate in a 419 or 412i Benefit Plan?
Lance Wallach is the nation's foremost expert on 419 plans, 412i plans, listed transactions, reportable transactions, Section 79 plans, captive Insurance plans
WELCOME KNOWLEDGE EXPERTISE What is a '412(i) Plan'?
"A defined-benefit pension plan designed for small business owners in the United States. This is a tax-qualified benefit plan, so any amount that the owner contributes to the plan becomes available immediately as a tax deduction to the company. The plan must be funded solely by guaranteed annuities, or a combination of annuities and life insurance." Investopedia (c)2014
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Our CPAs, Attorneys, ex-IRS agents and specialists know exactly what the IRS is looking for and how to help you avoid the huge fines and penalties they are imposing. Don't let the IRS get more of your money than they deserve simply because you failed to file a form properly.
The Millennium Plan The Beta Plan- Hartford- PAC Life Niche- Life Insurance Companies Compass Welfare Benefit Plan Sea Nine VEBA- Bisys Professional Benefits Trust (PBT) Advantage - Sterling- Cresp Heritage Plan- Indianapolis Life Penmont -and litigation involving other similar 412i Retirement Plans 419 Welfare Benefit Plans
A Plea for Help 412(i) Plans and Penalties "I am a Third Party Administrator and am asking for your help. One of my clients with 4 employees who simply funded a retirement plan with $500,000 recently endured a 5.5 year IRS audit of his 412 (i) pension plan. Upon completion of the audit the client owes $55,000 in income taxes for 2004-2006 and has refunds from 2007-2008 of $55,000 (timing difference only) He owes about $30,000 in blackmail money (He really should owe nothing!). The SBSE income tax agent has threatened to assess $800,000 in penalties under Code Section 6707a. The IRS is far exceeding their authority in assessing the 6707a penalty this is totally prosecutorial abuse. WE must put a stop to this! My client cooperated and acted in good faith and did file the form 8886 (Maybe not 100% correctly but none the less, he did file the necessary forms).……"
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What is a '412(i) Plan'?
"A defined-benefit pension plan designed for small business owners in the United States. This is a tax-qualified benefit plan, so any amount that the owner contributes to the plan becomes available immediately as a tax deduction to the company. The plan must be funded solely by guaranteed annuities, or a combination of annuities and life insurance." Investopedia (c)2014
ALL OF OUR SERVICES
Our CPAs, Attorneys, ex-IRS agents and specialists know exactly what the IRS is looking for and how to help you avoid the huge fines and penalties they are imposing. Don't let the IRS get more of your money than they deserve simply because you failed to file a form properly.
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412(I) PLANS
Lance Wallach expert witnessexpert witness services
The Millennium Plan
The Beta Plan- Hartford- PAC Life
Niche- Life Insurance Companies
Compass Welfare Benefit Plan
Sea Nine VEBA- Bisys
Professional Benefits Trust (PBT)
Advantage - Sterling- Cresp
Heritage Plan- Indianapolis Life Penmont -and litigation involving other similar 412i
Retirement Plans
419 Welfare Benefit Plans
A Plea for Help
412(i) Plans and Penalties
"I am a Third Party Administrator and am asking for your help. One of my clients with 4 employees who simply funded a retirement plan with $500,000 recently endured a 5.5 year IRS audit of his 412 (i) pension plan. Upon completion of the audit the client owes $55,000 in income taxes for 2004-2006 and has refunds from 2007-2008 of $55,000 (timing difference only) He owes about $30,000 in blackmail money (He really should owe nothing!). The SBSE income tax agent has threatened to assess $800,000 in penalties under Code Section 6707a. The IRS is far exceeding their authority in assessing the 6707a penalty this is totally prosecutorial abuse. WE must put a stop to this! My client cooperated and acted in good faith and did file the form 8886 (Maybe not 100% correctly but none the less, he did file the necessary forms).……"
--Dennis Cunning