Sometimes the IRS might disagree with planning you did with other advisors and you need to find help to ensure that your rights are protected, the facts are interpreted accurately and the law applied correctly.
Lance Wallach is among the few in this country who fully understand the mechanics and legal issues surrounding what has become known as
“419 Plans,” often welfare benefit plans for small companies funded with life insurance. For that reason
taxpayers throughout the country seek his services of his ex IRS agents and tax attorney CPAs in dealing with the Internal Revenue Service in audits, appeals and in the Tax Court.
Expert Witness
Frankly, not everybody does it right. Whether through ignorance or ill-intent, some folks sell insurance based programs with tax benefits, such as
419 Plans and
412(i) Plans, captive insurance, section 79 scams, or promote
premium financing or
STOLI programs to unsuspecting consumers leaving the consumer to be eaten alive, either by the IRS or by a turn in the economy, when all goes wrong. But the opposite is also true. One 419 Plan and some 412(i) Plans are very well designed and flawlessly implemented but the IRS just shoots first and aims second. Some legitimate premium financing might miscue. Building off of Lances knowledge of life insurance and the many ways life insurance has been and can be used in tax and wealth planning,
lawyers for both plaintiffs and defendants throughout the US seek Lances services as an expert witness in cases between consumers and those who sold them these programs that develop after the IRS, right or wrong, initiates an audit or the investment goes under water. In looking for an expert witness examine the past. As an expert Lance Wallach’s side has never lost a case. Who else can say that?
Ignorance of Listed Transaction Requirement provides no relief to 6707A penalty for 419 Taxpayers.
ReplyDeleteWilliams Coulson receives many calls from taxpayers who are contesting non-reporting penalties (6707A) for failure to file IRS Form 8886 with respect to participation in 419 plans like the Sea Nine VEBA, promoted by Ken Elliott. Some taxpayers claim that they were never told that the 419 plan was a “listed transaction” and that the filing of Form 8886 was required. The problem is that the 6707A penalty provides no relief for due diligence, reasonable cause or good faith. Therefore, when promoters fail to tell their clients that the plan is a listed transaction and filings are required, the promoter is guaranteeing that if the customer is audited, the penalties will be severe.
IRS tax relief firm, Lance Wallach, speaking Lance Wallach showcases his expert knowledge in IRS tax relief.
ReplyDeleteTuesday, March 4, 2014
RAMESH SARVA: SARVA
RAMESH SARVA: SARVA: Defendants have also directly and indirectly promoted the VEBA plan scheme to prospective participants. Sarva for his part has been marketin...
IRS tax relief firm, Lance Wallach, speaking Lance Wallach showcases his expert knowledge in IRS tax relief.
ReplyDeleteTuesday, March 4, 2014
RAMESH SARVA: SARVA
RAMESH SARVA: SARVA: Defendants have also directly and indirectly promoted the VEBA plan scheme to prospective participants. Sarva for his part has been marketin...