Abusive Tax Shelter, Listed Transaction, Reportable Transaction Expert Witness

wallacharticles1.blogspot.com/2012/07/abusive-ta... - Details

appleinmyeyes: THE IRS HAS INCREASED ITS ATTACKS ON LISTED TRANSACTIONS , ABUSIVE TAX SHELTERS AND SIMILAR PLANS. THESE PLANS GO BY VARIOUS NAMES AND ARE PRIMARILY SOLD BY INSURANCE AGENTS TO SMALL BUSINESS OWNERS AND PROFESSIONALS. ACCOUNTANTS WHO SIGN TAX...

to tags: reportable transactions  listed transactions 

Participation in Benistar Plan Triggered Reportable Transaction Penalty

mastertype.blogspot.com/2010/09/participation-in... - Details

kristinesey: McGehee Family Clinic, P.A., TC Memo 2010-202 The Tax Court has held that a medical clinic operated as a C corporation and one of its shareholders each was liable for a Code Sec. 6662A reportable transaction understatement penalty for their...

to tags: benistar plan  lance wallach expert witness 

Captive Insurance Buyer Beware

http://www.hgexperts.com/article.asp?id=26480 - Details

moroegiane: By Lance Wallach, CLU, CHFC Abusive Tax Shelter, Listed Transaction, Reportable ... Often, they are starting what is called “a captive insurance company”— an ...

to tags: reportable trtansaction  listed transaction  captive insurance company  abusive tax shelter 

Guidance on applying the Section 6707A penalty provisions

kmjradiolance3.blogspot.com/2012/03/guidance-on-... - Details

tinesrtyn: Prior to the Act, the amount of the penalty was unrelated to the tax shown on the tax return as a result of the reportable transaction. Under the amendment, the penalty is "75 percent of the decrease in tax shown on the return" as a result...

to tags: penalties  6707a  reportable transactions 

MONDAY IRS Audits 419, 412i, Captive Insurance Plans With Life Insurance and Section 79 Scams

financeexperts.blogspot.com/2012/03/irs-audits-4... - Details

davudsonjeak: The IRS started auditing 419 plans in the ‘90s, and then continued going after 412i and other plans that they considered abusive, listed, or reportable transactions. Listed designated as listed in published IRS material available to the general...

to tags: listed transactions  irs  sued 

IRS Audits 419, 412i, Captive Insurance Plans With Life Insurance, and Section 79 Scams

http://www.hgexperts.com/article.asp?id=23066 - Details

hatomayne: The IRS started auditing 419 plans in the ‘90s, and then continued going after 412i and other plans that they considered abusive, listed, or reportable transactions. Listed designated as listed in published IRS material available to the general...

to tags: 419  irs audits  412i  captive insurance plans with life insurance  and section 79 scams 

Disclosures Notice 2007–85 This notice provides guidance to material advisors required to file a disclosure

beat-the-irs.blogspot.com/2012/04/disclosures-no... - Details

jusinhery: The Form 8918 must be filed with the Office of Tax Shelter Analysis (OTSA) by the last day of the calendar month that follows the end of the calendar quarter in which the advisor became a material advisor with respect to the reportable transaction...

to tags: material advisor  irs 

IRS Attacks Business Owners, Accountants, Lawsuits over 412(i)/419 and Similar Insurance Based Plans

financeexpertsforum3.blogspot.com/2013/03/irs-at... - Details

roserbertme: By Lance Wallach, Abusive Tax Shelter, Listed Transaction, Reportable Transaction Expert Witness A 412(i) plan is a “defined benefit plan” – a retirement plan, a pension plan that claims to offer very large tax deductions. It is...

to tags: abusive taxshelter  expert witness  412i plans 

RS Audits 419, 412i, Captive Insurance Plans With Life Insurance, and Section 79 Scams

finance.toolbox.com/blogs/abusive-plans/irs-audi... - Details

sword1984: he IRS started auditing 419 plans in the ‘90s, and then continued going after 412i and other plans that they considered abusive, listed, or reportable transactions, or substantially similar to such transactions. In a recent Tax Court...

to tags: 419  benistar 

Form 8886 is required to be filed by any taxpayer who is participating

abusivetaxshelter.blogspot.com/2012/03/form-8886... - Details

nevieyoung: Form 8886 is required to be filed by any taxpayer who is participating, or in some cases has participated, in a listed or reportable transaction. What attracted the most attention with respect to it, until very recently, were the penalties for...

to tags: abusive tax shelters  8886  419  irs 

Business Owners Senator seeks support to scale back the IRS’s assault on nondisclosure of alleged tax shelters

www.vebaplan.org/Article7_IRS_Attacks_Samll_Busi... - Details

khuramas: Senator Ben Nelson (D-Nebraska) has sponsored legislation (S.765) to curtail the IRS and its nearly unlimited authority and power under Code section 6707A. Senator Nelson is actively seeking co-sponsors of the bill. The bill seeks to scale...

to tags: irs  reportable/listed transactions  section 6707a 

THE IRS CRACKED DOWN ON UNSUSPECTING BUSINESS OWNERS

biskcourseflyer.blogspot.com/2012/11/internal-re... - Details

justinrth: Eventually, the IRS cracked down on the unsuspecting business owners. Not only did they lose the tax deductions, but they were also fined, in addition to being charged penalties and interest. A skilled CPA with extensive IRS experience could...

to tags: 6707a  irs 

IRS Attacks Accountants and Business Owners- Senate Response

reportabletransactions3.blogspot.com/2012/08/irs... - Details

violanarma: Senator seeks support to scale back the IRS’s assault on nondisclosure of alleged tax shelters due to constitutional concerns. Senator Ben Nelson (D-Nebraska) has sponsored legislation (S.765) to curtail the IRS and its nearly unlimited...

to tags: irs 

Taxpayers Who Previously Adopted 419, 412i, Captive Insurance or Section 79 Plans are in Big Trouble

wewanttoprofileyouinnewbook.blogspot.com/2012/07... - Details

sefafenlint: In general, taxpayers who engage in a “listed transaction” must report such transaction to the IRS on Form 8886 every year that they “participate” in the transaction, and you do not necessarily have to make a contribution or claim a...

to tags: listed transactions  form 8886  reportable transactions  6707a 

IRS Audits Focus on Captive Insurance Plans April 2011 Edition

alittleeconomicsatire.blogspot.com/2011/12/irs-a... - Details

nepspeed82: By Lance Wallach The IRS started auditing § 419 plans in the 1990s, and then continued going after § 412(i) and other plans that they considered abusive, listed, or reportable transactions, or substantially similar to such transactions....

to tags: 419 plan  irs lawyer  welfare benefit plan  412i plan  michigan tax lawyer  material advisor  listed transaction  abusive tax shelter  tax fraud lawyer  ...

A Person Who Wants To Have A Passbook Account Has To Check Only The Difference Of Interest Rates Between Banks.

http://evansokhg.soup.io - Details

tyronrwln: One of the most important privacy benefits you get cities or the small towns, everyone wants to be a part of the most charismatic and emblematic state of the country. The ability to also print a copy of your bank balance in all and also the...

lancewallach.com Blog | section 79

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lorrainewilson: If you are, or were in a 412i, 419, captive insurance or section 79 plan you should immediately file under 6707A protectively.....

to tags: tax shelter analysis  reportable transaction  419  419e  412i  listed transaction  tax code  tigta  8918 forms  ...