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Showing posts from May, 2017

Get Sued by Your Clients and Fined by the IRS--Live Webinar

I am pleased to inform you of an upcoming live webinar I will be speaking at. I think this program will be of particular interest to you and I would like to personally invite you to attend. Get Sued by Your Clients and Fined by the IRS, 419 Welfare Benefit Plans, Section 79, Captive Insurance and Abusive Tax Shelters on December 1, 2016 Because I am a faculty member, you can receive 50% off the fee. Please visit this link for even more program details: http://www.lorman.com/live-webinar/399547 If you or any one of your colleagues wish to attend, there are several easy ways to register: · Register online at http://www.lorman.com · Call 1-866-352-9539 When registering, use priority code 15999 and discount code L9015026. I look forward to having you in attendance and will be prepared to answer your questions and provide you the latest information on this topic.
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Captive Insurance_I told You So_The IRS is Looking For You

As I have been warning for the last few years some captive insurance plans are being looked at and audited. If you are in a captive, which may be legal, you still may have to file under IRS 6707A. Most people who file do it wrong and then you have compounded the problem by lying to the IRS. Make one mistake on the forms and you have another problem. On November 1, 2016, the Internal Revenue Service (“IRS”) issued Notice 2016-66 identifying certain transactions relating to small captive insurance companies as a “transaction of interest.” Prior to this notice, the IRS had identified certain small captives as amongst its list of “Dirty Dozen Tax Scams.” Also, the IRS has been actively examining captives and their owners and litigating cases in the U.S. Tax Court. The new “transaction of interest” designation throws small captive insurance company transactions into a tax reporting regime that can potentially lead to significant penalties and IRS income tax and promoter examinations. Unde
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