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
419.Tax Search SKIP TO CONTENT WHAT IS A 419 PLAN? ABUSIVE TAX SHELTERS EXPERT WITNESS IN 419 PLAN AND OTHER CIVIL LITIGATION OUR SERVICES LANCE WALLACH ABOUT US CONTACT US ABUSIVE TAX SHELTERS 419e 412i Retirement – Section 79 Plansshelter
The IRS is cracking down on abusive tax shelters.Many of them are being marketed to small business owners by insurance professionals financial planners, accountants and attorneys. These plans come in various versions, and most of them have gotten the participant audited and the salesman sued. They purportedly allow the business owner to make a large tax-deductible contribution, and some or all of the contribution pays for a life insurance product. The IRS has been disallowing most versions of these plans for years, yet they continue to be sold. After everyone gets into trouble and the insurance agents get sued, the promoters of the abusive versions sometimes change the name of their company and call the plan something else. The insurance companies whose policies are sold are legitimate companies. What usually is not legitimate is the way that most of the plans are operated. There can also be a $200,000 IRS fine facing the insurance agent who sold the plan if Form 8918 has not been properly filed. SHARE THIS: TwitterFacebookGoogle
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Enter your comment here... HAVE YOU INVESTED IN A 419 PENSION PLAN?
If so, get to know the real truth behind your investment and what you can do to defend yourself. Since 2004, the IRS has amended the tax laws regarding these plans and thus has placed aggressive penalties and fines and aggressively auditing people who don’t know the truth. Consult with us today and let us help guide you through this serious situation and lower your financial risk. SOME 419 WELFARE BENEFIT PLANS THAT ATTRACTED IRS ATTENTION
•NOVA Benefit Plans (run by Dan Carpenter, Wayne Bursey, Guy Neumann, Kathy Kehoe, Joe Castagno and others), including: the SADI Plan, the Grist Mill Plan, Life One, among others •Benistar Plans (also run by Dan Carpenter, Wayne Bursey, Guy Neumann, Kathy Kehoe, Joe Castagno and others) •Niche Marketing •Millenium Plans •CJA & Associates (run by Raymond Ankner •Sea Nine VEBA •Compass Welfare Benefit Plan RECENT POSTS
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Search SKIP TO CONTENT
WHAT IS A 419 PLAN? ABUSIVE TAX SHELTERS EXPERT WITNESS IN 419 PLAN AND OTHER CIVIL LITIGATION OUR SERVICES LANCE WALLACH ABOUT US CONTACT US
ABUSIVE TAX SHELTERS
419e 412i Retirement – Section 79 Plansshelter
The IRS is cracking down on abusive tax shelters.Many of them are being marketed to small business owners by insurance professionals financial planners, accountants and attorneys. These plans come in various versions, and most of them have gotten the participant audited and the salesman sued. They purportedly allow the business owner to make a large tax-deductible contribution, and some or all of the contribution pays for a life insurance product. The IRS has been disallowing most versions of these plans for years, yet they continue to be sold. After everyone gets into trouble and the insurance agents get sued, the promoters of the abusive versions sometimes change the name of their company and call the plan something else. The insurance companies whose policies are sold are legitimate companies. What usually is not legitimate is the way that most of the plans are operated. There can also be a $200,000 IRS fine facing the insurance agent who sold the plan if Form 8918 has not been properly filed.
SHARE THIS:
TwitterFacebookGoogle
LEAVE A REPLY
Enter your comment here...
HAVE YOU INVESTED IN A 419 PENSION PLAN?
If so, get to know the real truth behind your investment and what you can do to defend yourself. Since 2004, the IRS has amended the tax laws regarding these plans and thus has placed aggressive penalties and fines and aggressively auditing people who don’t know the truth. Consult with us today and let us help guide you through this serious situation and lower your financial risk.
SOME 419 WELFARE BENEFIT PLANS THAT ATTRACTED IRS ATTENTION
•NOVA Benefit Plans (run by Dan Carpenter, Wayne Bursey, Guy Neumann, Kathy Kehoe, Joe Castagno and others), including: the SADI Plan, the Grist Mill Plan, Life One, among others •Benistar Plans (also run by Dan Carpenter, Wayne Bursey, Guy Neumann, Kathy Kehoe, Joe Castagno and others) •Niche Marketing •Millenium Plans •CJA & Associates (run by Raymond Ankner •Sea Nine VEBA •Compass Welfare Benefit Plan
RECENT POSTS