CJA and associates 419 412i section 79 scam audits lawsuits

CJA and associates 419 412i section 79 scam audits lawsuits

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    1. google lance wallach and whoever you are working with, who do you think is better?
      as an expert lance wallach has never lost a case www.lancewallach.com
      419 412i plans IRS audits lawsuits
      Lance Wallach
      director at taxaudit419.com
      Plan names:
      Benistar, SADI Trust,Beta 419,Millennium Plan,Bisys,Creative Services Group,Sterling Benefit Plan,Compass 419,Niche 419,CRESP,Sea Nine Veba, American Benefits Trust, National Benefit Plan and Trust, ABT, Professional Benefits Trust Benistar 419 Plan, nova trust, Grist mill trust, Sadi Trust IRS raids, Millennium 419 Plan,Bisys 419,Creative Services Group 419 Plan,Sterling Benefit 419 Plan,CRESP 419,Sea Nine Veba 419, National Benefit Plan and Trust 419, American Benefits Trust 419,ABT 419,Old Mutual, Allmerica Financial, American Heritage Life, Commercial Union Life, National Life of Vermont, Old Line Life, Security Mutual Life, West Coast Life "Grist Mill Trust" "Real Veba""Section 79 GEAR" GEAR" "United Financial Group" "Kenny Hartstein" "Millennium Plan" Kenny Hartstein" "Millennium Plan" "Tom Crosswhite" "Greg Roper""captive insurance" cresp "Ridge Plan" "Professional benefits Trust" "PBT " "Professional Planning Associates" "National Pension Associate" "NPA""Heritage Plan" ""Insurance fraud""pension and benefit plan fraud""insurance company fraud""ECI Pension Services""Pension Professionals of America""ABI""Hartford""AIG""Indy Life""Indianapolis Life""Advantage" Names of People who SOLD: "Kenny Hartstein""Dennis Cunning""Steve Toth""Michael Sonnenberg"Larry Bell""Scott Ridge""Randall Smith""Greg Roper""Tracy Sunderlage""Warren Trust""Joseph Donnelly""Norm Bevan""Judy Carsrud""Dan Carpenter""Ed Waesche" "Tom Crosswhite""David Struckman""George Huff" "Tom Crosswhite" "Greg Roper""Christopher Jarvis" David Mandell" Gen Von Oder Insurance Companies -- need to be 412 AND 419: Hartford 419, Pacific Life 419, PAC Life 419, AVIVA, 419, Indianpolis Life, Penn Mutual419,Bankers Life 419, John Hancock 419, Security Mutual 419, Transamerica 419,Prudential 419, Kansas City Life 419, Mass Mutual419, Guardian 419, Amerus 419, Wells Fargo 419, Fifth Third Bank 419, Arrow Head Trust 419, U.S. Benefits Group, Benefit Plan Advisors, Rex Insurance Service,Advantage,AIG, Old Mutual, Allmerica Financial, American Heritage Life, Commercial Union Life, National Life of Vermont, Old Line Life, Security Mutual Life, West Coast Life

      Delete
    2. Raymond Ankner -Expected to be the biggest life insurance failure in Illinois
      Raymond Ankner -Expected to be the biggest life insurance failure in Illinois : IRS Attacks CJA & CJA and Associates’ plans, 412i, 419e plans litigation and IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.

      Delete
    3. This is an email from someone.
      Dear Mr. Wallach,
      Great Article & Expose On CJA Marketing. I Never Had Dealings With Them. I Did Meet The Ankners A Couple Of Times. They Reminded Me Of "Huckster Car Dealers From NJ". They Had Owned An On Line Bristol Trading Company Ebay Type Of Company. As An Appraiser & Estate Specialist They Tried To "Freeload" Information From Me Under The Premise They Had A Vast Amount Of Estates That Required Appraisal Services. I Never Saw Anything During The 4 Years I Knew Them. I Sent Them Countless Referrals. That Lasted Maybe 6 Years. I Found Them To Be Less Than Honorable. On The QT I Understand Jean. & Ray Ankner Are Divorcing. What Goes Around Comes Around. God Speed On The Great Work You Are Doing. The Company Is Naples Based Now. They Had A Bristol Properties (Real Estate Company) That Closed In Boca In A Matter Of A Few Short Years. Words Of The Wise " Go With Your Gut Feeling"
      Best & Kind Regards,
      Patricia L. Whiteside

      Delete

    4. CJA And Associates - PRESIDENT

      1 of 2 Cja And Associates Reviews
      Jul 05, 2013 by anonymous 150 VIEWS 8 COMMENTS 4/5 REVIEW RATING Naples, Florida Financial Scams and Schemes Insurance Fraud Negligence
      CJA SOLD US DEFECTIVE EMPLOYEE BENEFIT PLANS COSTING US HUNDREDS

      OF THOUSANDS OF DOLLARS AND IRS AUDITS AND PENALTIES

      ALL WHILE CJA WALKED AWAY WITH HUNDREDS OF THOUSANDS OF OUR DOLLARS IN COMMISSIONS

      ALSO THE INSURANCE COMPANY FIDELITY SECURITY LIFE INSURANCE IS PART OF THIS SCHEME TO DEFRAUD COMPANIES OUT OF MILLIONS OF DOLLARS

      THE IRS GOT LIST OF ALL OF CJA CUSTOMERS AND CAME AFTER THEM WITH AUDITS AND HUGE FINES, CJA HAS DONE NOTHING TO RECTIFY THEIR MISTAKE AND REFUSES TO GIVE BACK ANY MONEY OR ANY OF THE COMMISSIONS THEY TOOK AT THEIR CUSTOMERS EXPENSE AND EXPOSURE TO HUNDREDES OF THOUSANDS OF IRS PENALTIES

      Delete
    5. SADI Trust,Beta 419,Millennium Plan,Bisys,Creative Services Group,Sterling Benefit Plan,Compass 419,Niche 419,CRESP,Sea Nine Veba, American Benefits Trust, National Benefit Plan and Trust, ABT, Professional Benefits Trust Benistar 419 Plan, nova trust, Grist mill trust, Sadi Trust IRS raids, Millennium 419 Plan,Bisys 419,Creative Services Group 419 Plan,Sterling Benefit 419 Plan,CRESP 419,Sea Nine Veba 419, National Benefit Plan and Trust 419, American Benefits Trust 419,ABT 419,Old Mutual, Allmerica Financial, American Heritage Life, Commercial Union Life, National Life of Vermont, Old Line Life, Security Mutual Life, West Coast Life "Grist Mill Trust" "Real Veba""Section 79 GEAR" GEAR" "United Financial Group" "Kenny Hartstein" "Millennium Plan" Kenny Hartstein" "Millennium Plan" "Tom Crosswhite" "Greg Roper""captive insurance" cresp "Ridge Plan" "Professional benefits Trust" "PBT " "Professional Planning Associates" "National Pension Associate" "NPA""Heritage Plan" ""Insurance fraud""pension and benefit plan fraud""insurance company fraud""ECI Pension Services""Pension Professionals of America""ABI""Hartford""AIG""Indy Life""Indianapolis Life""Advantage" Names of People who SOLD: "Kenny Hartstein""Dennis Cunning""Steve Toth""Michael Sonnenberg"Larry Bell""Scott Ridge""Randall Smith""Greg Roper""Tracy Sunderlage""Warren Trust""Joseph Donnelly""Norm Bevan""Judy Carsrud""Dan Carpenter""Ed Waesche" "Tom Crosswhite""David Struckman""George Huff" "Tom Crosswhite" "Greg Roper""Christopher Jarvis" David Mandell" Gen Von Oder Insurance Companies -- need to be 412 AND 419: Hartford 419, Pacific Life 419, PAC Life 419, AVIVA, 419, Indianpolis Life, Penn Mutual419,Bankers Life 419, John Hancock 419, Security Mutual 419, Transamerica 419,Prudential 419, Kansas City Life 419, Mass Mutual419, Guardian 419, Amerus 419, Wells Fargo 419, Fifth Third Bank 419, Arrow Head Trust 419, U.S. Benefits Group, Benefit Plan Advisors, Rex Insurance Service,Advantage,AIG, Old Mutual, Allmerica Financial, American Heritage Life, Commercial Union Life, National Life of Vermont, Old Line Life, Security Mutual Life, West Coast Life

      Delete
    6. SADI Trust,Beta 419,Millennium Plan,Bisys,Creative Services Group,Sterling Benefit Plan,Compass 419,Niche 419,CRESP,Sea Nine Veba, American Benefits Trust, National Benefit Plan and Trust, ABT, Professional Benefits Trust Benistar 419 Plan, nova trust, Grist mill trust, Sadi Trust IRS raids, Millennium 419 Plan,Bisys 419,Creative Services Group 419 Plan,Sterling Benefit 419 Plan,CRESP 419,Sea Nine Veba 419, National Benefit Plan and Trust 419, American Benefits Trust 419,ABT 419,Old Mutual, Allmerica Financial, American Heritage Life, Commercial Union Life, National Life of Vermont, Old Line Life, Security Mutual Life, West Coast Life "Grist Mill Trust" "Real Veba""Section 79 GEAR" GEAR" "United Financial Group" "Kenny Hartstein" "Millennium Plan" Kenny Hartstein" "Millennium Plan" "Tom Crosswhite" "Greg Roper""captive insurance" cresp "Ridge Plan" "Professional benefits Trust" "PBT " "Professional Planning Associates" "National Pension Associate" "NPA""Heritage Plan" ""Insurance fraud""pension and benefit plan fraud""insurance company fraud""ECI Pension Services""Pension Professionals of America""ABI""Hartford""AIG""Indy Life""Indianapolis Life""Advantage" Names of People who SOLD: "Kenny Hartstein""Dennis Cunning""Steve Toth""Michael Sonnenberg"Larry Bell""Scott Ridge""Randall Smith""Greg Roper""Tracy Sunderlage""Warren Trust""Joseph Donnelly""Norm Bevan""Judy Carsrud""Dan Carpenter""Ed Waesche" "Tom Crosswhite""David Struckman""George Huff" "Tom Crosswhite" "Greg Roper""Christopher Jarvis" David Mandell" Gen Von Oder Insurance Companies -- need to be 412 AND 419: Hartford 419, Pacific Life 419, PAC Life 419, AVIVA, 419, Indianpolis Life, Penn Mutual419,Bankers Life 419, John Hancock 419, Security Mutual 419, Transamerica 419,Prudential 419, Kansas City Life 419, Mass Mutual419, Guardian 419, Amerus 419, Wells Fargo 419, Fifth Third Bank 419, Arrow Head Trust 419, U.S. Benefits Group, Benefit Plan Advisors, Rex Insurance Service,Advantage,AIG, Old Mutual, Allmerica Financial, American Heritage Life, Commercial Union Life, National Life of Vermont, Old Line Life, Security Mutual Life, West Coast Life

      Delete
    7. You are almost certainly looking at:
      IRS Penalties, Fraud, Scams, Fines, and Audits

      These days people can’t afford to pay "IRS fines"of up to $200,000 for each year they were in a benefit or "retirement plan" they THOUGHT was working properly. If you are in a 412i "retirement plan" or a "419 welfare benefit plan" and got a "letter from the IRS", your money may be in serious trouble and you could be put out of business - permanently. You need to act IMMEDIATELY if you want to save your money, your business, or recover what has already been lost!

      If you participated in a 419e plan, 412i plan, Section 79, listed or reportable transaction you have very specific things to do to save you from IRS fines and penalties. We know what those things are and we know how to get it all done. We can help anyone with problems resulting from being in a listed transaction or a reportable transaction.

      HELP IS AVAILABLE! Call 516-938-5007 today (services provided nationwide!) for a FREE phone consultation and find out right away if you are in what the IRS has labeled an "abusive tax shelter", listed or reportable transaction. Once you know, then you can act. Once you act, you can avoid the serious "IRS fines and penalties" that could put you out of business and ruin your life

      Delete
    8. You are almost certainly looking at:
      IRS Penalties, Fraud, Scams, Fines, and Audits

      These days people can’t afford to pay "IRS fines"of up to $200,000 for each year they were in a benefit or "retirement plan" they THOUGHT was working properly. If you are in a 412i "retirement plan" or a "419 welfare benefit plan" and got a "letter from the IRS", your money may be in serious trouble and you could be put out of business - permanently. You need to act IMMEDIATELY if you want to save your money, your business, or recover what has already been lost!

      If you participated in a 419e plan, 412i plan, Section 79, listed or reportable transaction you have very specific things to do to save you from IRS fines and penalties. We know what those things are and we know how to get it all done. We can help anyone with problems resulting from being in a listed transaction or a reportable transaction.

      HELP IS AVAILABLE! Call 516-938-5007 today (services provided nationwide!) for a FREE phone consultation and find out right away if you are in what the IRS has labeled an "abusive tax shelter", listed or reportable transaction. Once you know, then you can act. Once you act, you can avoid the serious "IRS fines and penalties" that could put you out of business and ruin your life

      Delete
    9. s
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      Home » 2014 » January
      Life insurance company, others sued over employee benefit programs
      Joel Brakken
      Jan. 30, 2014, 10:00am 0 0 0 33

      Three people and a company are suing over claims they were recommended unsuitable employee benefit programs.

      Stephen McClure, Mark McClure, Carolyn Robinson and International Plastics Inc. filed a lawsuit Nov. 25 in the Cook County Circuit Court against Fidelity Security Life Insurance Co., CJA & Associates Inc., Raymond Ankner, Fifth Third Bank, Jason Freeman and J. Freeman & Associates Inc.

      The suit alleges common law fraud, negligence, negligent misrepresentation and unjust enrichment, among other claims.

      According to the complaint, the defendants used a pre-packaged program designed and administered to induce the plaintiffs to establish employee benefit programs.

      The plaintiffs claim the pre-packaged recommendations promised they would receive tax breaks for their business and secure large retirement benefits for plan participants.

      They claim the defendants knew or should have known the investments they recommended were wholly unsuitable and the cost far exceeded any potential benefits.

      The plaintiffs are seeking more than $50,000 in damages and are being represented in the case by Anthony R. Rutkowski of Rutkowski Law Group in Chicago.

      Cook County Circuit Court Case No. 2013L013514.

      This is a report on a civil lawsuit filed at the Cook County Courthouse. The details in this report come from an original complaint filed by a plaintiff. Please note that a complaint represents an accusation by a private individual, not the government. It is not an indication of guilt, and it represents only one side of the story.
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    10. s
      Contact Us
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      Home » 2014 » January
      Life insurance company, others sued over employee benefit programs
      Joel Brakken
      Jan. 30, 2014, 10:00am 0 0 0 33

      Three people and a company are suing over claims they were recommended unsuitable employee benefit programs.

      Stephen McClure, Mark McClure, Carolyn Robinson and International Plastics Inc. filed a lawsuit Nov. 25 in the Cook County Circuit Court against Fidelity Security Life Insurance Co., CJA & Associates Inc., Raymond Ankner, Fifth Third Bank, Jason Freeman and J. Freeman & Associates Inc.

      The suit alleges common law fraud, negligence, negligent misrepresentation and unjust enrichment, among other claims.

      According to the complaint, the defendants used a pre-packaged program designed and administered to induce the plaintiffs to establish employee benefit programs.

      The plaintiffs claim the pre-packaged recommendations promised they would receive tax breaks for their business and secure large retirement benefits for plan participants.

      They claim the defendants knew or should have known the investments they recommended were wholly unsuitable and the cost far exceeded any potential benefits.

      The plaintiffs are seeking more than $50,000 in damages and are being represented in the case by Anthony R. Rutkowski of Rutkowski Law Group in Chicago.

      Cook County Circuit Court Case No. 2013L013514.

      This is a report on a civil lawsuit filed at the Cook County Courthouse. The details in this report come from an original complaint filed by a plaintiff. Please note that a complaint represents an accusation by a private individual, not the government. It is not an indication of guilt, and it represents only one side of the story.
      More Stories

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    11. s
      Contact Us
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      Home » 2014 » January
      Life insurance company, others sued over employee benefit programs
      Joel Brakken
      Jan. 30, 2014, 10:00am 0 0 0 33

      Three people and a company are suing over claims they were recommended unsuitable employee benefit programs.

      Stephen McClure, Mark McClure, Carolyn Robinson and International Plastics Inc. filed a lawsuit Nov. 25 in the Cook County Circuit Court against Fidelity Security Life Insurance Co., CJA & Associates Inc., Raymond Ankner, Fifth Third Bank, Jason Freeman and J. Freeman & Associates Inc.

      The suit alleges common law fraud, negligence, negligent misrepresentation and unjust enrichment, among other claims.

      According to the complaint, the defendants used a pre-packaged program designed and administered to induce the plaintiffs to establish employee benefit programs.

      The plaintiffs claim the pre-packaged recommendations promised they would receive tax breaks for their business and secure large retirement benefits for plan participants.

      They claim the defendants knew or should have known the investments they recommended were wholly unsuitable and the cost far exceeded any potential benefits.

      The plaintiffs are seeking more than $50,000 in damages and are being represented in the case by Anthony R. Rutkowski of Rutkowski Law Group in Chicago.

      Cook County Circuit Court Case No. 2013L013514.

      This is a report on a civil lawsuit filed at the Cook County Courthouse. The details in this report come from an original complaint filed by a plaintiff. Please note that a complaint represents an accusation by a private individual, not the government. It is not an indication of guilt, and it represents only one side of the story.
      More Stories

      Delete
    12. s
      Contact Us
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      Home » 2014 » January
      Life insurance company, others sued over employee benefit programs
      Joel Brakken
      Jan. 30, 2014, 10:00am 0 0 0 33

      Three people and a company are suing over claims they were recommended unsuitable employee benefit programs.

      Stephen McClure, Mark McClure, Carolyn Robinson and International Plastics Inc. filed a lawsuit Nov. 25 in the Cook County Circuit Court against Fidelity Security Life Insurance Co., CJA & Associates Inc., Raymond Ankner, Fifth Third Bank, Jason Freeman and J. Freeman & Associates Inc.

      The suit alleges common law fraud, negligence, negligent misrepresentation and unjust enrichment, among other claims.

      According to the complaint, the defendants used a pre-packaged program designed and administered to induce the plaintiffs to establish employee benefit programs.

      The plaintiffs claim the pre-packaged recommendations promised they would receive tax breaks for their business and secure large retirement benefits for plan participants.

      They claim the defendants knew or should have known the investments they recommended were wholly unsuitable and the cost far exceeded any potential benefits.

      The plaintiffs are seeking more than $50,000 in damages and are being represented in the case by Anthony R. Rutkowski of Rutkowski Law Group in Chicago.

      Cook County Circuit Court Case No. 2013L013514.

      This is a report on a civil lawsuit filed at the Cook County Courthouse. The details in this report come from an original complaint filed by a plaintiff. Please note that a complaint represents an accusation by a private individual, not the government. It is not an indication of guilt, and it represents only one side of the story.
      More Stories

      Delete
    13. Benistar: Alter Ego, Fraudulent Transfer, Jury Trial Right
      Forum rules
      The information giv
      Sean T. Carnathan, Benjamin S. Kafka, O'Connor, Carnathan and Mack LLC, Burlington, MA, Gary R. Greenberg, Sebastian R. Colley, Greenberg Traurig, LLP, Robert M. Goldstein, Boston, MA, Joseph M. Pastore, III, Smith, Gambrell & Russell, LLP, New York, NY, Robert L. Ciociola, Litchfield Cavo, Lynnfield, MA, for Defendants.

      MEMORANDUM & ORDER

      GORTON, District Judge.

      *1 This action is scheduled to proceed at a bench trial in this Session on Monday, March 26, 2012. Currently before the Court is the defendants' motion for a jury trial on all claims by the plaintiffs and the government, a plaintiff by intervention. The motion is opposed by both the plaintiffs and the government.

      I. Background

      Plaintiffs are judgment creditors of several of the defendants in an aggregate of $33 million, only $15.3 million of which has been paid. That judgment ("the Cahaly Judgment") is the result of an action in the Massachusetts Superior Court Department for Suffolk County ("the Cahaly Litigation") in which it was held that several of the defendants improperly invested plaintiffs' escrowed funds.FN1

      FN1. That case is captioned: Cahaly et al. v. Benistar Property Exchange Trust Co., Inc., No. 01–0116–BLS (Mass. Sup.Ct., filed Jan. 2001).

      Defendants Benistar Property Exchange Trust Company, Daniel Carpenter, Molly Carpenter, Benistar Admin Services, Inc. ("BASI"), Benistar Ltd., Benistar Employer Services Trust Corporation and Carpenter Financial Group, LLC (together "the Cahaly Defendants") were parties to the Cahaly Litigation and are liable under the resulting judgment. Not all of those parties were originally named in the Cahaly Litigation but, in September, 2003, the state court "pierced the corporate veil" and extended liability to additional entities owned by Daniel and Molly Carpenter.

      The remaining defendants in this case, Benistar Insurance Group, Benistar 419 Plan Services, Inc. ("Benistar 419") and Step Plan Services Inc. ("Step Plan"), were not parties to the Cahaly Litigation but were plaintiffs in a different lawsuit brought in Pennsylvania ("the Pennsylvania Litigation"). The Pennsylvania Litigation arises out of an action by those defendants, along with Wayne Bursey ("Bursey") and BASI (which was also a party to the Cahaly Litigation), against John Koresko ("Koresko") and several entities he owned. FN2 The purported settlement is for approximately $4.5 million ("the Pennsylvania Settlement").

      FN2. That case is captioned: Step Plan Services, Inc. et al. v. Koresko Associates, No. 7718 (Court of Common Pleas, Philadelphia County, PA, filed March, 2004).

      Travelers Insurance Company ("Travelers") and Certain Underwriters of Lloyd's, London ("Certain Underwriters") (together "the Reach and Apply Defendants") are poised to deliver the proceeds of the Pennsylvania Settlement to the defendants. Plaintiffs seek to reach and apply those proceeds in satisfaction of the Cahaly Judgment. Although not all of the same entities are both judgment debtors in the Cahaly Litigation and plaintiffs in the Pennsylvania Litigation, plaintiffs allege that the defendants have abused and are abusing the corporate form in order to avoid the Cahaly Judgment.

      The defendants maintain that Step Plan is the sole payee of the Pennsylvania Settlement proceeds and that, because that entity was not a party to the Cahaly Litigation, the plaintiffs cannot enforce the Cahaly Judgment against them.

      This Court, after determining that the plaintiffs would likely succeed

      Delete
    14. IN THE UNITED STATES DISTRICT COURT
      FOR THE EASTERN DISTRICT OF PENNSYLVANIA
      PENN-MONT BENEFIT SERVICES, :
      Plaintiff, : CIVIL ACTION
      :
      v. :
      :
      UNITED STATES OF AMERICA, : No. 13-4130
      Defendant. :
      M E M O R A N D U M
      Stengel, J. August 20, 2015
      Penn-Mont Benefit Services is the administrator of the Regional Employers
      Assurance Leagues Voluntary Employees’ Benefit Association (REAL VEBA) trust,
      which the IRS determined was a tax shelter. In November 2012, the IRS assessed 26
      U.S.C. § 6700 penalties against Penn-Mont and John Koresko, the REAL VEBA creator
      and primary officer of Penn-Mont, for their respective roles in promoting the REAL
      VEBA plan in 2003. After paying the portion of the assessment required by statute, Mr.
      Koresko and Penn-Mont sued the United States in two separate actions for a refund of the
      penalty assessment they paid—asserting that it was unwarranted, incorrect, or
      impermissible under several legal theories.
      The United States filed a counterclaim, requesting the penalties be paid in full.
      The Government asserts six counts or reasons why the REAL VEBA scheme was not a
      legally permissible tax exemption vehicle. Penn-Mont failed to answer the Government’s
      counterclaim. The Clerk of Court entered default at the Government’s request. The
      PENN-MONT BENEFIT SERVICES, INC. v. UNITED STATES OF AMERICA Doc. 32
      Dockets.Justia.com
      2
      United States has moved for default judgment. For the reasons explained below, I will
      grant this motion in part and deny it in part.
      I. Procedural History of this Action
      On or about November 19, 2012, pursuant to 26 U.S.C. § 6700, the IRS issued a
      Notice of Penalty Charge to Penn-Mont assessing a penalty of $386,000 under 26 U.S.C.
      § 6700 for promoting an abusive tax shelter in taxable year 2003.1 On December 17,
      2012, Penn-Mont paid $57,900 or 15% of the penalty and filed a Claim for Refund of
      Tax Return Preparer and Promoter Penalties.2 On July 16, 2013, Penn-Mont filed this
      action seeking a tax refund under 26 U.S.C. § 6703(c)(2).3
      It claims the civil penalty is
      erroneous for several reasons: it cannot be considered a “promoter” within the meaning
      of the statute; it lacked the requisite intent of knowing that its statements were false; and
      the calculation of penalties is incorrect.4
      Penn-Mont seeks declaratory judgment that it is
      not liable for these penalties, a refund with interest of the 15% already paid, attorney’s
      fees and costs.5

      Delete
    15. IN THE UNITED STATES DISTRICT COURT
      FOR THE EASTERN DISTRICT OF PENNSYLVANIA
      PENN-MONT BENEFIT SERVICES, :
      Plaintiff, : CIVIL ACTION
      :
      v. :
      :
      UNITED STATES OF AMERICA, : No. 13-4130
      Defendant. :
      M E M O R A N D U M
      Stengel, J. August 20, 2015
      Penn-Mont Benefit Services is the administrator of the Regional Employers
      Assurance Leagues Voluntary Employees’ Benefit Association (REAL VEBA) trust,
      which the IRS determined was a tax shelter. In November 2012, the IRS assessed 26
      U.S.C. § 6700 penalties against Penn-Mont and John Koresko, the REAL VEBA creator
      and primary officer of Penn-Mont, for their respective roles in promoting the REAL
      VEBA plan in 2003. After paying the portion of the assessment required by statute, Mr.
      Koresko and Penn-Mont sued the United States in two separate actions for a refund of the
      penalty assessment they paid—asserting that it was unwarranted, incorrect, or
      impermissible under several legal theories.
      The United States filed a counterclaim, requesting the penalties be paid in full.
      The Government asserts six counts or reasons why the REAL VEBA scheme was not a
      legally permissible tax exemption vehicle. Penn-Mont failed to answer the Government’s
      counterclaim. The Clerk of Court entered default at the Government’s request. The

      Delete
    16. IN THE UNITED STATES DISTRICT COURT
      FOR THE EASTERN DISTRICT OF PENNSYLVANIA
      PENN-MONT BENEFIT SERVICES, :
      Plaintiff, : CIVIL ACTION
      :
      v. :
      :
      UNITED STATES OF AMERICA, : No. 13-4130
      Defendant. :
      M E M O R A N D U M
      Stengel, J. August 20, 2015
      Penn-Mont Benefit Services is the administrator of the Regional Employers
      Assurance Leagues Voluntary Employees’ Benefit Association (REAL VEBA) trust,
      which the IRS determined was a tax shelter. In November 2012, the IRS assessed 26
      U.S.C. § 6700 penalties against Penn-Mont and John Koresko, the REAL VEBA creator
      and primary officer of Penn-Mont, for their respective roles in promoting the REAL
      VEBA plan in 2003. After paying the portion of the assessment required by statute, Mr.
      Koresko and Penn-Mont sued the United States in two separate actions for a refund of the
      penalty assessment they paid—asserting that it was unwarranted, incorrect, or
      impermissible under several legal theories.
      The United States filed a counterclaim, requesting the penalties be paid in full.
      The Government asserts six counts or reasons why the REAL VEBA scheme was not a
      legally permissible tax exemption vehicle. Penn-Mont failed to answer the Government’s
      counterclaim. The Clerk of Court entered default at the Government’s request. The

      Delete
    17. FEBRUARY 18, 2015
      Fiduciaries to Pay $39M for Raiding Death Benefit Plans; Outcry Over DOL Rule Continues
      Law firm Debevoise latest to complain about DOL fiduciary redraft, but AFR’s Stanley says concerns are ‘hypothetical scare stories’

      The defendants were found to have improperly transferred money out of employee death benefit plans.
      The defendants were found to have improperly transferred money out of employee death benefit plans.
      Just as more complaints roll in regarding the Department of Labor’s planned release of revised fiduciary rules for retirement accounts, a federal district court in Philadelphia has ruled in favor of a DOL fiduciary breach suit brought in 2009, levying a $39.8 million judgment in the case.

      After nearly six years of litigation, the court on Feb. 6 entered a $39.8 million judgment, protecting the rights of workers who participated in more than 400 death benefit plans mismanaged by lawyer John J. Koresko V and the companies he controlled, as well as a former associate, Jeanne Bonney.

      The judge ruled that Koresko of Bridgeport, Pennsylvania, and other defendants diverted tens of millions of dollars in plan assets through more than 21 accounts using more than 18 different entities at more than eight different banks.

      “Spanning more than 12 years, the scheme saw assets from the plans’ trusts, used for real estate purchases in South Carolina and the Caribbean island of Nevis, to pay outside attorneys, lobbying expenses, operational expenses of Penn-Mont Benefit Services Inc., and Koresko’s law firms, and for Koresko’s personal expenses, such as boat rentals and utilities,” the order states.

      “The defendants completely disregarded the duty of loyalty they owed to the employee benefit plans and the workers who rely on them,” said Phyllis Borzi, Assistant Secretary of Labor for Employee Benefits Security, in a statement. “In an ideal world, this does not happen. When it does, there is justice in undoing this massive fraud, and in banning the defendants from coming anywhere near employee benefits again.”

      The plans primarily provided death benefits to participants nationwide and were established in connection with Koresko’s Regional Employers’ Assurance Leagues Voluntary Employees’ Beneficiary Association and Single Employer Welfare Benefit Plan, the order states.

      The court found that Koresko and the following defendants, all fiduciaries, transferred plan assets out of the plans’ trusts, in violation of the Employee Retirement Income Security Act:

      Penn-Mont Benefit Services, Inc., of Bridgeport, which is owned by Koresko;
      Koresko’s current and former law firms;
      Jeanne Bonney, an attorney formerly associated with the law firms; and
      Penn Public Trust, a company controlled by Koresko.

      Nearly $20 million of the amount due to the plans is frozen in accounts under the control of an independent fiduciary, after a July 2013 court order. The Feb. 6 decision found the defendants, with the exception of Bonney, liable for $19,852,114 in restitution for losses and disgorgement of profits, which represents the remaining balance of the total diverted assets.

      The DOL’s redraft of its rule to amend the definition of fiduciary under ERISA is expected to be filed at the Office of Management and Budget for a 90-day review any day now. Once OMB reviews the redraft, DOL will put it out for public comment.

      Delete
    18. FEBRUARY 18, 2015
      Fiduciaries to Pay $39M for Raiding Death Benefit Plans; Outcry Over DOL Rule Continues
      Law firm Debevoise latest to complain about DOL fiduciary redraft, but AFR’s Stanley says concerns are ‘hypothetical scare stories’

      The defendants were found to have improperly transferred money out of employee death benefit plans.
      The defendants were found to have improperly transferred money out of employee death benefit plans.
      Just as more complaints roll in regarding the Department of Labor’s planned release of revised fiduciary rules for retirement accounts, a federal district court in Philadelphia has ruled in favor of a DOL fiduciary breach suit brought in 2009, levying a $39.8 million judgment in the case.

      After nearly six years of litigation, the court on Feb. 6 entered a $39.8 million judgment, protecting the rights of workers who participated in more than 400 death benefit plans mismanaged by lawyer John J. Koresko V and the companies he controlled, as well as a former associate, Jeanne Bonney.

      The judge ruled that Koresko of Bridgeport, Pennsylvania, and other defendants diverted tens of millions of dollars in plan assets through more than 21 accounts using more than 18 different entities at more than eight different banks.

      “Spanning more than 12 years, the scheme saw assets from the plans’ trusts, used for real estate purchases in South Carolina and the Caribbean island of Nevis, to pay outside attorneys, lobbying expenses, operational expenses of Penn-Mont Benefit Services Inc., and Koresko’s law firms, and for Koresko’s personal expenses, such as boat rentals and utilities,” the order states.

      “The defendants completely disregarded the duty of loyalty they owed to the employee benefit plans and the workers who rely on them,” said Phyllis Borzi, Assistant Secretary of Labor for Employee Benefits Security, in a statement. “In an ideal world, this does not happen. When it does, there is justice in undoing this massive fraud, and in banning the defendants from coming anywhere near employee benefits again.”

      The plans primarily provided death benefits to participants nationwide and were established in connection with Koresko’s Regional Employers’ Assurance Leagues Voluntary Employees’ Beneficiary Association and Single Employer Welfare Benefit Plan, the order states.

      The court found that Koresko and the following defendants, all fiduciaries, transferred plan assets out of the plans’ trusts, in violation of the Employee Retirement Income Security Act:

      Penn-Mont Benefit Services, Inc., of Bridgeport, which is owned by Koresko;
      Koresko’s current and former law firms;
      Jeanne Bonney, an attorney formerly associated with the law firms; and
      Penn Public Trust, a company controlled by Koresko.

      Nearly $20 million of the amount due to the plans is frozen in accounts under the control of an independent fiduciary, after a July 2013 court order. The Feb. 6 decision found the defendants, with the exception of Bonney, liable for $19,852,114 in restitution for losses and disgorgement of profits, which represents the remaining balance of the total diverted assets.

      The DOL’s redraft of its rule to amend the definition of fiduciary under ERISA is expected to be filed at the Office of Management and Budget for a 90-day review any day now. Once OMB reviews the redraft, DOL will put it out for public comment.

      Delete
    19. Raymond Ankner Insurance
      Raymond Ankner -Expected to be the biggest life insurance failure in Illinois : IRS Attacks CJA and Associates’ plans, 419e plans litigation and IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS. Benistar, 412i Lawsuits, 419 lawsuits, 412i Help, 419 Help, IRS Audits, 412i Problems, 412i problems, Expert Witness Lance Wallach, 412i Help, 419 Help, Benistar Lawsuits, 412i lawsuits, 419 lawsuits

      Raymond Ankner -Expected to be the biggest life insurance failure in Illinois
      Raymond Ankner -Expected to be the biggest life insurance failure in Illinois : IRS Attacks CJA & CJA and Associates’ plans: To Read More: http://taxshelteraudits.org/2011/10/14/irs-attacks-cja--cja-and-associates-plans.aspx
      Posted by Lance Wallach at 1/11/2013 03:53:00 PM 30 comments:
      Email This
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      Labels: 412i, 419, abusive tax shelters, cja and associate
      Liquidation Comes For Lavish Insurer
      January |By Laurie Cohen
      In 1990 Chicago insurance executive Raymond Ankner flew about 100 of his top agents to Germany to celebrate Oktoberfest in Cologne. The cost of the trip was $800,000, billed to Ankner`s businesses.
      But insurance regulators were already beginning to question expenses at his main insurance unit, InterAmerican Insurance Co. of Illinois. When the Illinois Insurance Department obtained a court order last month to liquidate the company, court papers showed a balance sheet crowded with overvalued real estate and questionable intercompany transactions and reinsurance arrangements.
      The collapse of InterAmerican is expected to be the biggest life insurance failure in Illinois history, with a gap of more than $30 million between assets and liabilities. It has placed in the hands of state regulators the largest real estate and mortgage Portfolio ever managed by the department. InterAmerican`s $33 million portfolio of mortgages and real estate covers several investments on Chicago`s Near West Side, including a loan on its headquarters at 901 W. Jackson Blvd. There also are more far-flung holdings, such as loans to donut shops in Michigan and a bed-and-breakfast in Vermont. Nearly half the $20.5 million in mortgage loans are behind on payments, according to department officials.
      Regulators are still investigating the possibility that company funds were improperly used. No charges have been filed, and Ankner denies any suggestion of wrongdoing.
      A report by an independent accountant hired by the Insurance Department highlights several questionable charges, such as a $53,681 check to Neiman-Marcus Co. for catering a 1989 Christmas party at Ankner`s apartment here, the company`s payment of most of his $5,200 monthly rent and even a portion of the salaries of Ankner`s gardener and housekeeper in Vermont.

      Delete
    20. Raymond Ankner Insurance
      Raymond Ankner -Expected to be the biggest life insurance failure in Illinois : IRS Attacks CJA and Associates’ plans, 419e plans litigation and IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS. Benistar, 412i Lawsuits, 419 lawsuits, 412i Help, 419 Help, IRS Audits, 412i Problems, 412i problems, Expert Witness Lance Wallach, 412i Help, 419 Help, Benistar Lawsuits, 412i lawsuits, 419 lawsuits

      Raymond Ankner -Expected to be the biggest life insurance failure in Illinois
      Raymond Ankner -Expected to be the biggest life insurance failure in Illinois : IRS Attacks CJA & CJA and Associates’ plans: To Read More: http://taxshelteraudits.org/2011/10/14/irs-attacks-cja--cja-and-associates-plans.aspx
      Posted by Lance Wallach at 1/11/2013 03:53:00 PM 30 comments:
      Email This
      BlogThis!
      Share to Twitter
      Share to Facebook
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      Labels: 412i, 419, abusive tax shelters, cja and associate
      Liquidation Comes For Lavish Insurer
      January |By Laurie Cohen
      In 1990 Chicago insurance executive Raymond Ankner flew about 100 of his top agents to Germany to celebrate Oktoberfest in Cologne. The cost of the trip was $800,000, billed to Ankner`s businesses.
      But insurance regulators were already beginning to question expenses at his main insurance unit, InterAmerican Insurance Co. of Illinois. When the Illinois Insurance Department obtained a court order last month to liquidate the company, court papers showed a balance sheet crowded with overvalued real estate and questionable intercompany transactions and reinsurance arrangements.
      The collapse of InterAmerican is expected to be the biggest life insurance failure in Illinois history, with a gap of more than $30 million between assets and liabilities. It has placed in the hands of state regulators the largest real estate and mortgage Portfolio ever managed by the department. InterAmerican`s $33 million portfolio of mortgages and real estate covers several investments on Chicago`s Near West Side, including a loan on its headquarters at 901 W. Jackson Blvd. There also are more far-flung holdings, such as loans to donut shops in Michigan and a bed-and-breakfast in Vermont. Nearly half the $20.5 million in mortgage loans are behind on payments, according to department officials.
      Regulators are still investigating the possibility that company funds were improperly used. No charges have been filed, and Ankner denies any suggestion of wrongdoing.
      A report by an independent accountant hired by the Insurance Department highlights several questionable charges, such as a $53,681 check to Neiman-Marcus Co. for catering a 1989 Christmas party at Ankner`s apartment here, the company`s payment of most of his $5,200 monthly rent and even a portion of the salaries of Ankner`s gardener and housekeeper in Vermont.

      Delete
    21. captive insurance audits, 2322 views, 55 likes
      Edit article
      Published on June 15, 2016
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  2. Life Agents and Accountants Fined $100,000 for Selling 419 and Other Insurance Plans
    ________________________________________
    By Lance Wallach, CLU, CHFC Abusive Tax Shelter, Listed Transaction, Reportable Transaction Expert Witness

    ________________________________________
    Accountants and others fined $100,000 for signing tax returns and selling 419, 412i and other abusive life insurance plans. - Accounting Today - ‘Don’t Become A Material Advisor’ - Accountants, insurance professionals and others need to be careful that they don’t become what the IRS calls material advisers.
    If they sell or give advice, or sign tax returns for abusive, listed or similar plans; they risk a minimum $100,000 fine. Their client will then probably sue them after having dealt with the IRS.

    In 2010, the IRS raided the offices of Benistar in Simsbury, Conn., and seized the retirement benefit plan administration firm’s files and records. In McGehee Family Clinic, the Tax Court ruled that a clinic and shareholder’s investment in an employee benefit plan marketed under the name “Benistar” was a listed transaction because it was substantially similar to the transaction described in Notice 95-34 (1995-1 C.B. 309). This is at least the second case in which the court has ruled against the Benistar welfare benefit plan, by denominating it a listed transaction.

    The McGehee Family Clinic enrolled in the Benistar Plan in May 2001 and claimed deductions for contributions to it in 2002 and 2005. The returns did not include a Form 8886, Reportable Transaction Disclosure Statement, or similar disclosure. The IRS disallowed the latter deduction and adjusted the 2004 return of shareholder Robert Prosser and his wife to include the $50,000 payment to the plan.

    The IRS assessed tax deficiencies and the enhanced 30 percent penalty under Section 6662A, totaling almost $21,000, against the clinic and $21,000 against the Prossers. The court ruled that the Prossers failed to prove a reasonable cause or good faith exception.

    In rendering its decision, the court cited Curcio v. Commissioner, in which the court also ruled in favor of the IRS. As noted in Curcio, the insurance policies, which were overwhelmingly variable or universal life policies, required large contributions relative to the cost of the amount of term insurance that would be required to provide the death benefits under the

    Lance Wallach, National Society of Accountants Speaker of the Year and member of the AICPA faculty of teaching professionals, is a frequent speaker on retirement plans, abusive tax shelters, financial, international tax, and estate planning. He writes about 412(i), 419, Section79, FBAR and captive insurance plans. He speaks at more than ten conventions annually, writes for more than 50 publications, is quoted regularly in the press and has been featured on television and radio financial talk shows including NBC, National Public Radio’s “All Things Considered” and others. Lance has written numerous books including “Protecting Clients from Fraud, Incompetence and Scams,” published by John Wiley and Sons, Bisk Education’s “CPA’s Guide to Life Insurance and Federal Estate and Gift Taxation,” as well as the AICPA best-selling books, including “Avoiding Circular 230 Malpractice Traps and Common Abusive Small Business Hot Spots.” He does expert witness testimony and has never lost a case. Contact him at 516.938.5007, wallachinc@gmail.com or visit www.taxadvisorexpert.com.
    The information provided herein is not intended as legal, accounting, financial or any type of advice for any specific individual or other entity. You should contact an appropriate professional for any such advice.

    While every effort has been made to ensure the accuracy of this publication, it is not intended to provide legal advice as individual situations will differ and should be discussed with an expert and/or lawyer. For specific technical or legal advice on the information provided and related topics, please contact the author.

    ReplyDelete
  3. in depth, which I did after the meeting.

    The IRS then set up task forces and started going after 419 and 412i plans. I have been profusely warning accountants to properly file under 6707A to avoid the large fines, but most do not. Even if they file, if they make a mistake on the forms, the IRS will fine them. Very few accountants have had experience filing the forms, and the IRS instructions are complicated and therefore difficult to follow. I only know of two people who have been successful in properly filing the forms, especially after the fact. If the forms are filled out incorrectly, they should be amended and corrected Most accountants call me a few years later when they and their clients get the large fines, either after improperly filling out the forms or failing to fill them out at all. Unfortunately, by then it is too late. If they don’t call me then, then they call me when their clients sue them.

    Lance Wallach, National Society of Accountants Speaker of the Year and member of the AICPA faculty of teaching professionals, is a frequent speaker on retirement plans, abusive tax shelters, financial, international tax, and estate planning. He writes about 412(i), 419, Section79, FBAR and captive insurance plans. He speaks at more than ten conventions annually, writes for more than 50 publications, is quoted regularly in the press and has been featured on television and radio financial talk shows including NBC, National Public Radio’s “All Things Considered” and others. Lance has written numerous books including “Protecting Clients from Fraud, Incompetence and Scams,” published by John Wiley and Sons, Bisk Education’s “CPA’s Guide to Life Insurance and Federal Estate and Gift Taxation,” as well as the AICPA best-selling books, including “Avoiding Circular 230 Malpractice Traps and Common Abusive Small Business Hot Spots.” He does expert witness testimony and has never lost a case. Contact him at 516.938.5007, wallachinc@gmail.com or visit www.taxadvisorexpert.com.
    The information provided herein is not intended as legal, accounting, financial or any type of advice for any specific individual or other entity. You should contact an appropriate professional for any such advice.

    While every effort has been made to ensure the accuracy of this publication, it is not intended to provide legal advice as individual situations will differ and should be discussed with an expert and/or lawyer. For specific technical or legal advice on the information provided and related topics, please contact the author.

    ReplyDelete
  4. Larger Image
    MY RATING:
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    CURRENTLY READING
    MORE INFO ABOUT THIS BOOK:
    About This BookFavorite QuotesBook Reviews
    About This Book
    Protect your clients – and yourself – from all kinds of financial chicanery and stupidity with this vital new book

    It doesn't matter if a financial error was made because of malice or ignorance – the end result is that you lose money. Luckily, you don't have to sit idly and take it. If you have Protecting Clients from Fraud, Incompetence and Scams, you can identify and avoid the dysfunctional sectors of the financial industry, steer clear of the fallout from the Madoff Era, and guide your clients to real, healthy, sustainable returns. This powerful book

    Pinpoints dysfunctional sectors within the financial industry and offers advice against frauds and scammers Shows how a team approach to asset management can ward off financial predators Offers practical strategies and tools to combat client risk for Risk and Asset Management
    Offering insightful information to protect your clients from all sorts of frauds and incompetence, this essential guide equips you with tips and techniques to spot the red flags of fraud and prevent it before it starts.

    Show less
    Product Details
    eBook (240 pages)
    Published: February 22, 2010
    Publisher: Wiley
    Imprint: Wiley
    ISBN: 9780470593929

    ReplyDelete
  5. Replies
    1. Section 79 Plans
      412i, 419e plans litigation and IRS Audit Experts for abusive insurance reportable or listed transactions by the IRS,Section 79, Section 79 Lawsuits,412i, 419e plans litigation and IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.Benistar,412i Lawsuits,419 lawsuits,412i Help,419 Help, IRS Audits,412i Problems,412i problems, Expert Witness Lance Wallach,412i Help,419 Help, Benistar Lawsuits, 412i lawsuits,419 lawsuits,

      Friday, June 21, 2013

      Follow the plan and get audited.
      Follow the plan and get audited.

      What is a Section 79 Plan?Protection, Retirement, Innovation. A permanent benefit life insurance plan (using IRS codes) that can add substantial retirement income via sheltered cash accumulation and protection to the business owner(s) as well as the employees at a minimal cost and in a tax-advantaged way.

      Delete
    2. Don’t Become A “Material Advisor”
      Posted on October 21, 2013
      Don’t Become A “Material Advisor”

      Accountants, insurance professionals and others need to be careful that they don’t become what the IRS calls material advisors.

      If they sell or give advice, or sign tax returns for abusive, listed or similar plans; they risk a minimum $100,000 fine. They will then probably be sued by their client, when the IRS finishes with their client

      In 2010, the IRS raided the offices of Benistar in Simsbury, Conn., and seized the retirement benefit plan administration firm’s files and records. In McGehee Family Clinic, the Tax Court ruled that a clinic and shareholder’s investment in an employee benefit plan marketed under the name “Benistar” was a listed transaction because it was substantially similar to the transaction described in Notice 95-34 (1995-1 C.B. 309). This is at least the second case in which the court has ruled against the Benistar welfare benefit plan, by denominating it a listed transaction.

      The McGehee Family Clinic enrolled in the Benistar Plan in May 2001 and claimed deductions for contributions to it in 2002 and 2005. The returns did not include a Form 8886, Reportable Transaction Disclosure Statement, or similar disclosure. The IRS disallowed the latter deduction and adjusted the 2004 return of shareholder Robert Prosser and his wife to include the $50,000 payment to the plan.

      The IRS assessed tax deficiencies and the enhanced 30 percent penalty under Section 6662A, totaling almost $21,000, against the clinic and $21,000 against the Prossers. The court ruled that the Prossers failed to prove a reasonable cause or good faith exception.

      In rendering its decision, the court cited Curcio v. Commissioner, in which the court also ruled in favor of the IRS. As noted in Curcio, the insurance policies, which were overwhelmingly variable or universal life policies, required large contributions relative to the cost of the amount of term insurance that would be required to provide the death benefits under the arrangement. The Benistar Plan owned the insurance contracts. The excessive cost of providing death benefits was a reason for the court’s finding in Curcio that tax

      Delete
  6. Companies
    Need more? Try our Advanced Search (20+ criteria) »
    CJA & Associates Inc

    Company Description
    CJA is a national employee benefits company. We specialize in the design and marketing of innovative insurance products and employee benefit plans for the smaMore$25 mil. - $50 mil.in Revenue100 - 250Employees

    ReplyDelete
  7. RFC Case Number: 3:2013cv05303
    File Date: Thursday, November 14, 2013
    Plaintiff: Kinsale Insurance Company
    Plaintiff Counsel:
    Defendant: CJA and Associates, Inc., Kent W. Hagan, Maurine Hagan, Hagan & Hagan and Hagan Chiropractic, Inc.
    Cause: 28:1332 Diversity-Injunctive & Declaratory Relief
    Court: California Northern District Court

    ReplyDelete
  8. Back to Home Page

    NOTES

    [1] Among the third-party defendants named in Finderne is John Rossi, a certified public accountant. Rossi was named as a third-party defendant by Papetti and U.S. Financial, who alleged accountant's negligence. Rossi was also subject to a cross-claim for contribution and indemnification by Barrett on the same theory. We affirm, in a separate opinion of this date, the Law Division's decision to dismiss those claims. Finderne Management Co., Inc. v. Barrett, 355 N.J.Super. 197, 809 A.2d 857 (App.Div.2002).

    [2] The Racketeer Influenced Corrupt Organizations Act, 18 U.S.C.A. §§ 1961 to 1968 (RICO).

    [3] On December 29, 2000, plaintiffs and others filed a complaint against defendants in federal court, District of New Jersey, captioned National Security Systems, Inc. v. Iola, Docket No. CV-00-6293, raising ERISA and other claims; the action has been stayed by Judge Thompson pending the outcome of this appeal.

    [4] While making the argument that the EPIC Plan is not an ERISA plan, plaintiffs concede that as employers they have established their own ERISA plans. As the Finderne plaintiffs state: "Although the EPIC Plan is clearly not an ERISA plan, it appears that Finderne established its own, single-employer ERISA plan by virtue of arranging to provide benefits to its employees." Alloy Cast similarly concedes that the ERISA plan at issue is the single employer plan it has sponsored, not the EPIC Plan.

    ReplyDelete
  9. JOHN J. KORESKO, V, et al.
    v.
    JEFF BLEIWEIS, et al.
    : CIVIL ACTION
    :
    : NO. 04-CV-769
    :
    :
    MEMORANDUM AND ORDER
    Kauffman, J. September 27, 2005
    Plaintiffs John Koresko, V (“Koresko”) and Pennmont Benefit Services, Inc.
    (“PennMont”) (collectively, “Plaintiffs”) bring this action for interference with present and
    prospective business and contractual relationships (Count One), misappropriation of trade secrets
    (Count Two), commercial disparagement (Count Four), and civil conspiracy (Count Five) against
    Defendants Jeff Bleiweis (“Bleiweis”), Raymond Ankner (“Ankner”), CJA and Associates
    (“CJA”), and the Travelers Life and Annuity Company (“Travelers”).1
    Now before the Court is
    the Motion to Dismiss of Bleiweis, Ankner and CJA (the “CJA Defendants”) for lack of personal
    jurisdiction pursuant to Fed. R. Civ. P. 12(b)(2). For the reasons that follow, the Motion will be
    denied.
    I. BACKGROUND
    PennMont is a Pennsylvania corporation that markets insurance products and pension
    programs for financial professionals and their clients. Plaintiffs’ First Amended Complaint
    (“Complaint”) at ¶ 5. Koresko is PennMont’s General Counsel. Id. at ¶ 4. CJA is one of2 Neither the Complaint nor the affidavits Plaintiffs have submitted allege that the
    October Meeting took place in Pennsylvania.
    2
    PennMont’s chief competitors. Id. at ¶ 7. Bleiweis is CJA’s Senior Vice President and

    ReplyDelete
  10. JOHN J. KORESKO, V, et al.
    v.
    JEFF BLEIWEIS, et al.
    : CIVIL ACTION
    :
    : NO. 04-CV-769
    :
    :
    MEMORANDUM AND ORDER
    Kauffman, J. September 27, 2005
    Plaintiffs John Koresko, V (“Koresko”) and Pennmont Benefit Services, Inc.
    (“PennMont”) (collectively, “Plaintiffs”) bring this action for interference with present and
    prospective business and contractual relationships (Count One), misappropriation of trade secrets
    (Count Two), commercial disparagement (Count Four), and civil conspiracy (Count Five) against
    Defendants Jeff Bleiweis (“Bleiweis”), Raymond Ankner (“Ankner”), CJA and Associates
    (“CJA”), and the Travelers Life and Annuity Company (“Travelers”).1
    Now before the Court is
    the Motion to Dismiss of Bleiweis, Ankner and CJA (the “CJA Defendants”) for lack of personal
    jurisdiction pursuant to Fed. R. Civ. P. 12(b)(2). For the reasons that follow, the Motion will be
    denied.
    I. BACKGROUND
    PennMont is a Pennsylvania corporation that markets insurance products and pension
    programs for financial professionals and their clients. Plaintiffs’ First Amended Complaint
    (“Complaint”) at ¶ 5. Koresko is PennMont’s General Counsel. Id. at ¶ 4. CJA is one of2 Neither the Complaint nor the affidavits Plaintiffs have submitted allege that the
    October Meeting took place in Pennsylvania.
    2
    PennMont’s chief competitors. Id. at ¶ 7. Bleiweis is CJA’s Senior Vice President and General
    Counsel. Id. at 6. Travelers is an insurance company, which at various times has marketed and
    sold life insurance products through Defendants CJA and Bleiweis.
    (“Response”) at 6.
    Plaintiffs also allege that CJA has incorporated the information Travelers gathered from

    ReplyDelete
  11. HON FROM ROBERT LEVINE DATED 3/25/09 RE: REQUEST
    BY ROBERT P. LEVINE, PC TO REPLACE FRYDMAN LLC
    AS ATTORNEYS FOR DEFENDANTS GARY L. THORNHILL
    AND THE PRIVATE CONSULTING GROUP. ENDORSEMENT:
    SUBSTITUTION OF COUNSEL SO ORDERED.
    (SIGNED BY JUDGE COLLEEN MCMAHON ON 3/25/09)
    (CD) (ENTERED: 03/26/2009)
    49 03/20/2009 FIRST AMENDED COMPLAINT AGAINST KENNETH R.
    HARTSTEIN, ECI PENSION SERVICES, LLC, ECONOMIC
    CONCEPTS, INC., GARY L. THORNHILL, THE PRIVATE
    CONSULTING GROUP, RICHARD C. SMITH, BRYAN CAVE,
    WARREN ROSEN, WARREN ROSEN & CO. INC., BANKERS
    LIFE OF NEW YORK. DOCUMENT FILED BY MICHAEL
    GOLDSTEIN(INDIVIDUALLY IN HIS CAPACITY), MICHAEL
    GOLDSTEIN(AS ADMINISTRATOR OF THE MICHAEL
    GOLDSTEIN DEFINED BENEFIT PENSION PLAN),
    MARCI GOLDSTEIN(INDIVIDUALLY), MARCI GOLDSTEIN(
    ON BEHALF OF ALL OTHERS SIMILARLY SITUATED).(
    DLE) (ENTERED: 03/23/2009)
    03/18/2009 CASHIERS OFFICE REMARK ON4343MOTION TO APPEAR
    PRO HAC VICE,4444 MOTION TO APPEAR PRO HAC VICE
    IN THE AMOUNT OF $50.00, PAID ON 03/03/2009, RECEIPT
    NUMBER 680268. (JD) (ENTERED: 03/18/2009)
    Send Runner to the Court
    48 03/16/2009 ENDORSED LETTER ADDRESSED TO JUDGE COLLEEN

    ReplyDelete
    Replies
    1. The Inter-American Insurance Co. of Illinois (Inter-
      American) specializes in providing to small, closely held
      corporations products such as qualified pension and profit
      sharing plans and group life insurance plans. When Inter-
      16 -
      American was formed in the late 1970’s, it was owned indirectly
      by Beaven/Inter-American Cos., Inc. (Beaven/Inter-American), the
      wholly owned company of Raymond G. Ankner (Mr. Ankner), who has
      worked in the insurance industry for more than 30 years. Inter-
      American liquidated on December 23, 1991, pursuant to a court
      order to do so, and Beaven/Inter-American changed its name to
      Beaven Cos., Inc. Mr. Ankner currently markets the life
      insurance products described herein through a company of his
      called CJA & Associates.

      Delete
  12. NEWS & INSIGHTS potential impacts from this new case. First, there is a potential that this class action will spawn a new wave of class actions directed at insurance companies that have sold 412(e)(3) annuities. Although plaintiffs nominally contend that the FSL annuities were unsuitable “as structured,” the complaint reads like a general attack on the suitability of such annuities under any circumstance, and a general attack on the insurance companies who acted as service providers with respect to retirement plans that were funded with 412(e)(3) annuities. Thus, as with the revenue-sharing class actions, where plaintiff’s counsel sued most major insurance company service providers, the Fidelity Life class action could be the first among many filed against the insurance industry.

    Second, this lawsuit continues the unrelenting efforts by the ERISA class action plaintiffs’ bar to try to transform insurance companies – mere sellers of retirement products and services – into ERISA fiduciaries. We first observed these efforts in earnest in the revenue-sharing class actions we have defended, and this case appears to continue the trend in which plaintiffs attempt to recast ministerial tasks or sales efforts as fiduciary conduct. The rulings in this case could contribute to the developing body of law regarding what activities can cause entities to qualify as ERISA fiduciaries.

    Third, this lawsuit could trigger other non-412(e)(3) lawsuits claiming that other life insurance or annuity-based retirement products and services are “too expensive” or “unsuitable” for retirement plans. We have already observed these same sort of efforts in the ERISA stock drop cases we have defended, in which plaintiffs contend that company stock was unsuitable, and more recently, in some of the plan sponsor revenue-sharing cases, in which plaintiffs contend that certain mutual fund offerings used as investment options are too expensive. This lawsuit could cause the ERISA class action plaintiffs’ bar to look for other types of products for which it could pursue similar claims.
    google lance wallach for help cja and associates benistar grist mill trust 419 sea nine veba 419 412e3

    ReplyDelete
  13. www.taxaudit419.com for help with benistar sea nine veba 419 grist mill trust sadi trust 419 audits and lawsuits

    You Don't Have To Just Take OUR Word For It.
    Read What Our Clients Have To Say!
    The IRS says:
    Reportable Transactions
    Client Testimonials
    Natural persons who fail
    to disclose a reportable
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    nonreporting taxpayers
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    “Lance is an industry leader
    His research and insights have proved right on the money!”
    Debra Rothberg,

    “Lance is extraordinarily intelligent. He has few peers, if any, in his area of expertise.
    I unhesitatingly recommend Lance.”
    Gary Lesser, Owner, GSL Galactic Consulting

    “Excellent results, Google him”
    Larry Wilconsin,

    “Lance is a true expert on VEBA Plans. Five years ago, he took the call of a total stranger,
    and in doing so, he spent an hour helping me solve my client's problem. During the past five
    years Lance consistently proven to be a valuable resource for me and my practice. He is a
    warm open person who is willing to invest in others success.”

    Don Atherton, CEBS, CFP, CLU, Owner, Integrated Benefits Solutions, Inc.

    “Lance is a wonderful resource not just in regards to VEBAs, 412's, abusive plans and IRS
    codes, but also who and what he knows about certain broker-dealers. I called him about recent
    changes to 412, and got on the subject of broker-dealers, and he lent so much of his time to
    inform me about making the right choice. He is a really great, personable colleague to people
    working in the financial services business.”
    Robert Thomas, Resident Insurance Producer, Independent Consulting

    “Lance has been recognized by many organizations for his expertise as a speaker
    and writer on employee benefit plans and other tax topics. You can't go wrong hiring him as a
    speaker or, if you want to learn how you can participate in one of Lance's frequent book
    projects, he offers an easy way to get yourself published for the first time so you can get a
    book in front of prospective clients and/or professional colleagues.”
    David Drucker, Principal, Virtual Office News LLC

    “I have relied on Lance's valuable expertise on several occasions in assisting my
    clients with Veba's (419 plans). Lance is definitely the person to help properly structure 412i
    and 419 plans and fix plans that were improperly set-up.”
    Sherry Oskey-Hall, Owner, Wealth Creation Strategies

    “Since first calling Lance, he has taught me more about all aspects of insurance, income
    tax nuances, and relatively unknown welfare benefit plans than I had learned in the years spent
    with other well-regarded experts who had been in the same field for over 30 years.

    As a result, when Lance becomes a consultant to any company or individual they not only get
    the benefit of his immense knowledge, but they receive the knowledge of experts in any area of
    finance that will benefit the client. Lance will never say, "I don't know too much about that."
    Instead he will say, "Let me put you in touch with an expert who is knows more about that than
    anyone in the country." And he means it.

    I have yet to hear of anyone that has been disappointed for calling upon Lance Wallach for
    advice or assistance. He is truly at the top of his

    ReplyDelete
  14. Tax Crimes - Is the IRS Coming to Get You? Lance Wallach, expert witness.
    People who have money in other countries are a target of the IRS. I get a lot of phone calls with people who have these problems. 419, 412i, hiding money offshore etc. The IRS may be looking for you if you had anything to do with this. Tax crime attacks by the IRS are up almost 50% so you need to be careful. Last year IRS raided the offices of Benistar, Grist Mill Trust, Nova with about 50 agents and took all the files. If you did business with them the IRS will probably come to you.

    The numbers are out and they aren’t good for people convicted of tax crimes. While the U.S. Department of Justice Tax Division has always enjoyed a very high conviction rate, many people convicted of tax crimes never went to jail. Not anymore. In 2001, the average tax offender received a sentence of 18 months. Now those sentences average 25 months.

    The statistics are a bit misleading because a decade ago, half the people convicted never went to jail. The average sentence may have been 18 months but many folks got house arrest while others received sentences of several years. Now, those convicted are probably going to jail. In other words, not only has the average sentence increased but also so has the likelihood of receiving a prison sentence.

    Sentences in federal criminal cases are governed by the United States Sentencing Guidelines. Although no longer binding on judges, they are the court’s starting point and most judges’ stay within guidelines.

    The sentencing guidelines attempt to account for a wide range of factors including one’s

    ReplyDelete
  15. Reportable Transactions & 419 Plans Litigation
    412i, 419e plans litigation and IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.
    d 412i plans. I have been profusely warning accountants to properly file under 6707A to avoid the large fines, but most do not. Even if they file, if they make a mistake on the forms, the IRS will fine them. Very few accountants have had experience filing the forms, and the IRS instructions are complicated and therefore difficult to follow. I only know of two people who have been successful in properly filing the forms, especially after the fact. If the forms are filled out incorrectly, they should be amended and corrected Most accountants call me a few years later when they and their clients get the large fines, either after improperly filling out the forms or failing to fill them out at all. Unfortunately, by then it is too late. If they don’t call me then, then they call me when their clients sue them.

    Lance Wallach, National Society of Accountants Speaker of the Year and member of the AICPA faculty of teaching professionals, is a frequent speaker on retirement plans, abusive tax shelters, financial, international tax, and estate planning. He writes about 412(i), 419, Section79, FBAR and captive insurance plans. He speaks at more than ten conventions annually, writes for more than 50 publications, is quoted regularly in the press and has been featured on television and radio financial talk shows including NBC, National Public Radio’s “All Things Considered” and others. Lance has written numerous books including “Protecting Clients from Fraud, Incompetence and Scams,” published by John Wiley and Sons, Bisk Education’s “CPA’s Guide to Life Insurance and Federal Estate and Gift Taxation,” as well as the AICPA best-selling books, including “Avoiding Circular 230 Malpractice Traps and Common Abusive Small Business Hot Spots.” He does expert witness testimony and has never lost a case. Contact him at 516.938.5007, wallachinc@gmail.com or visit www.taxadvisorexpert.com.
    The information provided herein is not intended as legal, accounting, financial or any type of advice for any specific individual or other entity. You should contact an appropriate professional for any such advice.

    While every effort has been made to ensure the accuracy of this publication, it is not intended to provide legal advice as individual situations will differ and should be discussed with an expert and/or lawyer. For specific technical or legal advice on the information provided and related topics, please contact the author.

    ReplyDelete

    ReplyDelete
  16. Lance WallachJune 20, 2013 at 9:41 AM
    google lance wallach for more

    ReplyDelete
    Replies

    Lance WallachJanuary 22, 2014 at 10:46 AM
    google lance wallach and whoever you are working with, who do you think is better?
    as an expert lance wallach has never lost a case www.lancewallach.com
    419 412i plans IRS audits lawsuits
    Lance Wallach
    director at taxaudit419.com
    Plan names:
    Benistar, SADI Trust,Beta 419,Millennium Plan,Bisys,Creative Services Group,Sterling Benefit Plan,Compass 419,Niche 419,CRESP,Sea Nine Veba, American Benefits Trust, National Benefit Plan and Trust, ABT, Professional Benefits Trust Benistar 419 Plan, nova trust, Grist mill trust, Sadi Trust IRS raids, Millennium 419 Plan,Bisys 419,Creative Services Group 419 Plan,Sterling Benefit 419 Plan,CRESP 419,Sea Nine Veba 419, National Benefit Plan and Trust 419, American Benefits Trust 419,ABT 419,Old Mutual, Allmerica Financial, American Heritage Life, Commercial Union Life, National Life of Vermont, Old Line Life, Security Mutual Life, West Coast Life "Grist Mill Trust" "Real Veba""Section 79 GEAR" GEAR" "United Financial Group" "Kenny Hartstein" "Millennium Plan" Kenny Hartstein" "Millennium Plan" "Tom Crosswhite" "Greg Roper""captive insurance" cresp "Ridge Plan" "Professional benefits Trust" "PBT " "Professional Planning Associates" "National Pension Associate" "NPA""Heritage Plan" ""Insurance fraud""pension and benefit plan fraud""insurance company fraud""ECI Pension Services""Pension Professionals of America""ABI""Hartford""AIG""Indy Life""Indianapolis Life""Advantage" Names of People who SOLD: "Kenny Hartstein""Dennis Cunning""Steve Toth""Michael Sonnenberg"Larry Bell""Scott Ridge""Randall Smith""Greg Roper""Tracy Sunderlage""Warren Trust""Joseph Donnelly""Norm Bevan""Judy Carsrud""Dan Carpenter""Ed Waesche" "Tom Crosswhite""David Struckman""George Huff" "Tom Crosswhite" "Greg Roper""Christopher Jarvis" David Mandell" Gen Von Oder Insurance Companies -- need to be 412 AND 419: Hartford 419, Pacific Life 419, PAC Life 419, AVIVA, 419, Indianpolis Life, Penn Mutual419,Bankers Life 419, John Hancock 419, Security Mutual 419, Transamerica 419,Prudential 419, Kansas City Life 419, Mass Mutual419, Guardian 419, Amerus 419, Wells Fargo 419, Fifth Third Bank 419, Arrow Head Trust 419, U.S. Benefits Group, Benefit Plan Advisors, Rex Insurance Service,Advantage,AIG, Old Mutual, Allmerica Financial, American Heritage Life, Commercial Union Life, National Life of Vermont, Old Line Life, Security Mutual Life, West Coast Life

    ReplyDelete
  17. Lance WallachJune 20, 2013 at 9:41 AM
    google lance wallach for more

    ReplyDelete
    Replies

    Lance WallachJanuary 22, 2014 at 10:46 AM
    google lance wallach and whoever you are working with, who do you think is better?
    as an expert lance wallach has never lost a case www.lancewallach.com
    419 412i plans IRS audits lawsuits
    Lance Wallach
    director at taxaudit419.com
    Plan names:
    Benistar, SADI Trust,Beta 419,Millennium Plan,Bisys,Creative Services Group,Sterling Benefit Plan,Compass 419,Niche 419,CRESP,Sea Nine Veba, American Benefits Trust, National Benefit Plan and Trust, ABT, Professional Benefits Trust Benistar 419 Plan, nova trust, Grist mill trust, Sadi Trust IRS raids, Millennium 419 Plan,Bisys 419,Creative Services Group 419 Plan,Sterling Benefit 419 Plan,CRESP 419,Sea Nine Veba 419, National Benefit Plan and Trust 419, American Benefits Trust 419,ABT 419,Old Mutual, Allmerica Financial, American Heritage Life, Commercial Union Life, National Life of Vermont, Old Line Life, Security Mutual Life, West Coast Life "Grist Mill Trust" "Real Veba""Section 79 GEAR" GEAR" "United Financial Group" "Kenny Hartstein" "Millennium Plan" Kenny Hartstein" "Millennium Plan" "Tom Crosswhite" "Greg Roper""captive insurance" cresp "Ridge Plan" "Professional benefits Trust" "PBT " "Professional Planning Associates" "National Pension Associate" "NPA""Heritage Plan" ""Insurance fraud""pension and benefit plan fraud""insurance company fraud""ECI Pension Services""Pension Professionals of America""ABI""Hartford""AIG""Indy Life""Indianapolis Life""Advantage" Names of People who SOLD: "Kenny Hartstein""Dennis Cunning""Steve Toth""Michael Sonnenberg"Larry Bell""Scott Ridge""Randall Smith""Greg Roper""Tracy Sunderlage""Warren Trust""Joseph Donnelly""Norm Bevan""Judy Carsrud""Dan Carpenter""Ed Waesche" "Tom Crosswhite""David Struckman""George Huff" "Tom Crosswhite" "Greg Roper""Christopher Jarvis" David Mandell" Gen Von Oder Insurance Companies -- need to be 412 AND 419: Hartford 419, Pacific Life 419, PAC Life 419, AVIVA, 419, Indianpolis Life, Penn Mutual419,Bankers Life 419, John Hancock 419, Security Mutual 419, Transamerica 419,Prudential 419, Kansas City Life 419, Mass Mutual419, Guardian 419, Amerus 419, Wells Fargo 419, Fifth Third Bank 419, Arrow Head Trust 419, U.S. Benefits Group, Benefit Plan Advisors, Rex Insurance Service,Advantage,AIG, Old Mutual, Allmerica Financial, American Heritage Life, Commercial Union Life, National Life of Vermont, Old Line Life, Security Mutual Life, West Coast Life

    ReplyDelete
  18. “Lance is an industry leader
    His research and insights have proved right on the money!”
    Debra Rothberg,

    “Lance is extraordinarily intelligent. He has few peers, if any, in his area of expertise.
    I unhesitatingly recommend Lance.”
    Gary Lesser, Owner, GSL Galactic Consulting

    “Excellent results, Google him”
    Larry Wilconsin,

    “Lance is a true expert on VEBA Plans. Five years ago, he took the call of a total stranger,
    and in doing so, he spent an hour helping me solve my client's problem. During the past five
    years Lance consistently proven to be a valuable resource for me and my practice. He is a
    warm open person who is willing to invest in others success.”

    ReplyDelete
  19. america 419,Prudential 419, Kansas City Life 419, Mass Mutual419, Guardian 419, Amerus 419, Wells Fargo 419, Fifth Third Bank 419, Arrow Head Trust 419, U.S. Benefits Group, Benefit Plan Advisors, Rex Insurance Service,Advantage,AIG, Old Mutual, Allmerica Financial, American Heritage Life, Commercial Union Life, National Life of Vermont, Old Line Life, Security Mutual Life, West Coast Life

    ReplyDelete

    Lance WallachJanuary 24, 2014 at 6:44 AM
    Lance WallachJune 20, 2013 at 9:41 AM
    google lance wallach for more

    ReplyDelete
    Replies

    Lance WallachJanuary 22, 2014 at 10:46 AM
    google lance wallach and whoever you are working with, who do you think is better?
    as an expert lance wallach has never lost a case www.lancewallach.com
    419 412i plans IRS audits lawsuits
    Lance Wallach
    director at taxaudit419.com
    Plan names:
    Benistar, SADI Trust,Beta 419,Millennium Plan,Bisys,Creative Services Group,Sterling Benefit Plan,Compass 419,Niche 419,CRESP,Sea Nine Veba, American Benefits Trust, National Benefit Plan and Trust, ABT, Professional Benefits Trust Benistar 419 Plan, nova trust, Grist mill trust, Sadi Trust IRS raids, Millennium 419 Plan,Bisys 419,Creative Services Group 419 Plan,Sterling Benefit 419 Plan,CRESP 419,Sea Nine Veba 419, National Benefit Plan and Trust 419, American Benefits Trust 419,ABT 419,Old Mutual, Allmerica Financial, American Heritage Life, Commercial Union Life, National Life of Vermont, Old Line Life, Security Mutual Life, West Coast Life "Grist Mill Trust" "Real Veba""Section 79 GEAR" GEAR" "United Financial Group" "Kenny Hartstein" "Millennium Plan" Kenny Hartstein" "Millennium Plan" "Tom Crosswhite" "Greg Roper""captive insurance" cresp "Ridge Plan" "Professional benefits Trust" "PBT " "Professional Planning Associates" "National Pension Associate" "NPA""Heritage Plan" ""Insurance fraud""pension and benefit plan fraud""insurance company fraud""ECI Pension Services""Pension Professionals of America""ABI""Hartford""AIG""Indy Life""Indianapolis Life""Advantage" Names of People who SOLD: "Kenny Hartstein""Dennis Cunning""Steve Toth""Michael Sonnenberg"Larry Bell""Scott Ridge""Randall Smith""Greg Roper""Tracy Sunderlage""Warren Trust""Joseph Donnelly""Norm Bevan""Judy Carsrud""Dan Carpenter""Ed Waesche" "Tom Crosswhite""David Struckman""George Huff" "Tom Crosswhite" "Greg Roper""Christopher Jarvis" David Mandell" Gen Von Oder Insurance Companies -- need to be 412 AND 419: Hartford 419, Pacific Life 419, PAC Life 419, AVIVA, 419, Indianpolis Life, Penn Mutual419,Bankers Life 419, John Hancock 419, Security Mutual 419, Transamerica 419,Prudential 419, Kansas City Life 419, Mass Mutual419, Guardian 419, Amerus 419, Wells Fargo 419, Fifth Third Bank 419, Arrow Head Trust 419, U.S. Benefits Group, Benefit Plan Advisors, Rex Insurance Service,Advantage,AIG, Old Mutual, Allmerica Financial, American Heritage Life, Commercial Union Life, National Life of Vermont, Old Line Life, Security Mutual Life, West Coast Life

    ReplyDelete
  20. Not a Legal Professional? Visit our consumer site
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    FindLawCaselawUnited StatesUS 3rd Cir.CETEL v. KIRWAN FINANCIAL GROUP INC CJA
    CETEL v. KIRWAN FINANCIAL GROUP INC CJA
    ResetAAFont size:PrintShareThis

    United States Court of Appeals,Third Circuit.
    Karen CETEL;  Morton Schneider;  Marvin Cetel;  Marvin Cetel, M.D., P.A.;  Barbara Schneider;  Barbara Schneider, M.D., F.A.C.S., P.A. v. KIRWAN FINANCIAL GROUP, INC.;  Barry Cohen;  Michael Kirwan;  Neil Prupis;  Lampf, Lipkind, Prupis, Petigrow & laBue;  Raymond G. Ankner;  CJA Associates;  Beaven Companies, Inc.;  Medical Society of New Jersey;  Inter-American Insurance Co. of Illinois;  Commonwealth Life Insurance Co.;  Peoples Security Life Insurance Co.;  Monumental Life Insurance Co.;  Capital Holding Company;  Aegon Insurance Group;  Indianapolis Life Insurance Co.

    (District of New Jersey Civil No. 00-cv-5799). v. Commonwealth Life Insurance Company;  Peoples Security Life Insurance Company;  Providian Life Insurance Company;  Aegon USA Inc.;  Monumental Life Insurance Company;  Indianapolis Life Insurance Co.;  Raymond G. Ankner;  Beaven Companies, Inc.;  CJA and Associates;  Kirwan Financial Group, Inc.;  Kirwan Financial Advisory, Inc.;  Barry Cohen;  Michael Kirwan;  Pacific Executive Services;  Stephen R. Ross;  Donald S. Murphy;  Sea Nine Associate;  DSM, Inc.;  New Jersey Medical Profession Association;  Southern California Medical Profession Associa

    ReplyDelete
  21. 3-28-2011
    John Koresko v. Jeff Bleiweis
    Precedential or Non-Precedential: Non-Precedential
    Docket No. 09-3685
    Follow this and additional works at: http://digitalcommons.law.villanova.edu/thirdcircuit_2011
    This decision is brought to you for free and open access by the Opinions of the United States Court of Appeals for the Third Circuit at Villanova
    University School of Law Digital Repository. It has been accepted for inclusion in 2011 Decisions by an authorized administrator of Villanova
    University School of Law Digital Repository. For more information, please contactBenjamin.Carlson@law.villanova.edu.
    Recommended Citation
    "John Koresko v. Jeff Bleiweis" (2011). 2011 Decisions.Paper 1584.
    http://digitalcommons.law.villanova.edu/thirdcircuit_2011/1584

    ReplyDelete
  22. HOME
    IMMIGRATIONVISAGREEN CARDCITIZENSHIPPASSPORTEMBASSY
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    Grist mill trust welfare benefit plan

    ReplyDelete
  23. 19 section 79 captive insurance IRS audits www.taxaudit419.com for help
    Lance Wallach
    google lance wallach for IRS audits of 419 section 79 captive insurance 412i lawsuits or www.lancewallach.com

    412i,419, section 79 and captive insurance lawsuits and IRS audits linkedin.com
    419,412i, captive insurance, section 79 audits and lawsuits. As an expert witness my side has never lost a case. My side has also won in three different lawsuits defending insurance professions who sold these plans. Questions?? lawallach@aol.com. 516-938-5007 Vebaplan.org taxaudit419.com Vebaplan.org helps with IRS audit issues of 419e, 412i, tax shelter penalties, IRS fines of listed tran
    Like CommentUnfollowSeptember 18, 2012
    Lance Wallachance WallachJan 21, 2014

    Lance is an expert about:
    The "Millennium Plan"
    "SADI Trust"
    The "Beta Plan"
    Niche
    Benistar
    The "Grist Mill Trust"
    "Compass Welfare Benefit Plan"
    "Sea Nine" VEBA
    Bisys
    "Professional Benefits Trust" (PBT)
    and other similar 412i "retirement plans" and "419 welfare benefit plans"As an expert witness lance wallach has never lost a case Lance Wallach warned Hartford in 2002 that the 419 was going to be disallowed. Hartford continued to sell abusive tax shelter 419 plans. Hartford has memos aboutgoogle lance wallach and whoever you are working with, who do you think is better?
    as an expert lance wallach has never lost a case www.lancewallach.com
    419 412i plans IRS audits lawsuits
    Lance Wallach
    director at taxaudit419.com
    Plan names:
    Benistar, SADI Trust,Beta 419,Millennium Plan,Bisys,Creative Services Group,Sterling Benefit Plan,Compass 419,Niche 419,CRESP,Sea Nine Veba, American Benefits Trust, National Benefit Plan and Trust, ABT, Professional Benefits Trust Benistar 419 Plan, nova trust, Grist mill trust, Sadi Trust IRS raids, Millennium 419 Plan,Bisys 419,Creative Services Group 419 Plan,Sterling Benefit 419 Plan,CRESP 419,Sea Nine Veba 419, National Benefit Plan and Trust 419, American Benefits Trust 419,ABT 419,Old Mutual, Allmerica Financial, American Heritage Life, Commercial Union Life, National Life of Vermont, Old Line Life, Security Mutual Life, West Coast Life "Grist Mill Trust" "Real Veba""Section 79 GEAR" GEAR" "United Financial Group" "Kenny Hartstein" "Millennium Plan" Kenny Hartstein" "Millennium Plan" "Tom Crosswhite" "Greg Roper""captive insurance" cresp "Ridge Plan" "Professional benefits Trust" "PBT " "Professional Planning Associates" "National Pension Associate" "NPA""Heritage Plan" ""Insurance fraud""pension and benefit plan fraud""insurance company fraud""ECI Pension Services""Pension Professionals of America""ABI""Hartford""AIG""Indy Life""Indianapolis Life""Advantage" Names of People who SOLD: "Kenny Hartstein""Dennis Cunning""Steve Toth""Michael Sonnenberg"Larry Bell""Scott Ridge""Randall Smith""Greg Roper""Tracy Sunderlage""Warren Trust""Joseph Donnelly""Norm Bevan""Judy Carsrud""Dan Carpenter""Ed Waesche" "Tom Crosswhite""David Struckman""George Huff" "Tom Crosswhite" "Greg Roper""Christopher Jarvis" David Mandell" Gen Von Oder Insurance Companies -- need to be 412 AND 419: Hartford 419, Pacific Life 419, PAC Life 419, AVIVA, 419, Indianpolis Life, Penn Mutual419,Bankers Life 419, John Hancock 419, Security Mutual 419, Transamerica 419,Prudential 419, Kansas City Life 419, Mass Mutual419, Guardian 419, Amerus 419, Wells Fargo 419, Fifth Third Bank 419, Arrow Head Trust 419, U.S. Benefits Group, Benefit Plan Advisors, Rex Insurance Service,Advantage,AIG, Old Mut

    ReplyDelete
  24. grist mill trust, nova, Benistar, Sadi trust 419 Reviews | Scambook
    www.scambook.com/.../grist-mill-trust-nova-Benistar-Sadi-trust-419‎
    Dec 18, 2012 - Information about grist mill trust, nova, Benistar, Sadi trust 419 was first submitted to Scambook on Dec 18, 2012. Since then the page has ...
    lance wallach has never lost a case 419 etc google lance wallach ...

    https://plus.google.com/.../posts/9T9GJ7wEcBU‎
    Lance Wallach
    Jan 22, 2014 - Benistar, SADI Trust,Beta 419,Millennium Plan,Bisys,Creative Services Group,Sterling Benefit Plan,Compass 419,Niche 419,CRESP,Sea Nine Veba, American ...
    CJA and associates 419 412i section 79 scam audits lawsuits

    seniorabuses.blogspot.com/.../cja-and-associates-419-412i-sectio...‎
    by Lance Wallach - in 48 Google+ circles
    Nov 27, 2012 - Benistar, SADI Trust,Beta 419,Millennium Plan,Bisys,Creative Services Group,Sterling Benefit Plan,Compass 419,Niche 419,CRESP,Sea Nine ...
    You and one other person +1'd this
    IRS Audits Focus on Captive Insurance Plans - Lance Wallach
    www.lancewallach.com/employeeretirementplan.html‎
    Benistar, SADI Trust,Beta 419,Millennium Plan,Bisys, Creative Services Group,Sterling Benefit Plan, Compass 419,Niche 419,CRESP,Sea Nine Veba, American

    ReplyDelete
  25. grist mill trust, nova, Benistar, Sadi trust 419 Reviews | Scambook
    www.scambook.com/.../grist-mill-trust-nova-Benistar-Sadi-trust-419‎
    Dec 18, 2012 - Information about grist mill trust, nova, Benistar, Sadi trust 419 was first submitted to Scambook on Dec 18, 2012. Since then the page has ...
    lance wallach has never lost a case 419 etc google lance wallach ...

    https://plus.google.com/.../posts/9T9GJ7wEcBU‎
    Lance Wallach
    Jan 22, 2014 - Benistar, SADI Trust,Beta 419,Millennium Plan,Bisys,Creative Services Group,Sterling Benefit Plan,Compass 419,Niche 419,CRESP,Sea Nine Veba, American ...
    CJA and associates 419 412i section 79 scam audits lawsuits

    seniorabuses.blogspot.com/.../cja-and-associates-419-412i-sectio...‎
    by Lance Wallach - in 48 Google+ circles
    Nov 27, 2012 - Benistar, SADI Trust,Beta 419,Millennium Plan,Bisys,Creative Services Group,Sterling Benefit Plan,Compass 419,Niche 419,CRESP,Sea Nine ...
    You and one other person +1'd this
    IRS Audits Focus on Captive Insurance Plans - Lance Wallach
    www.lancewallach.com/employeeretirementplan.html‎
    Benistar, SADI Trust,Beta 419,Millennium Plan,Bisys, Creative Services Group,Sterling Benefit Plan, Compass 419,Niche 419,CRESP,Sea Nine Veba, American
    Lance is an expert about:
    The "Millennium Plan"
    "SADI Trust"
    The "Beta Plan"
    Niche
    Benistar
    The "Grist Mill Trust"
    "Compass Welfare Benefit Plan"
    "Sea Nine" VEBA
    Bisys

    ReplyDelete
  26. 419 412i plans IRS audits lawsuits
    Lance Wallach
    director at taxaudit419.com
    Plan names:
    Benistar, SADI Trust,Beta 419,Millennium Plan,Bisys,Creative Services Group,Sterling Benefit Plan,Compass 419,Niche 419,CRESP,Sea Nine Veba, American Benefits Trust, National Benefit Plan and Trust, ABT, Professional Benefits Trust Benistar 419 Plan, nova trust, Grist mill trust, Sadi Trust IRS raids, Millennium 419 Plan,Bisys 419,Creative Services Group 419 Plan,Sterling Benefit 419 Plan,CRESP 419,Sea Nine Veba 419, National Benefit Plan and Trust 419, American Benefits Trust 419,ABT 419,Old Mutual, Allmerica Financial, American Heritage Life, Commercial Union Life, National Life of Vermont, Old Line Life, Security Mutual Life, West Coast Life "Grist Mill Trust" "Real Veba""Section 79 GEAR" GEAR" "United Financial Group" "Kenny Hartstein" "Millennium Plan" Kenny Hartstein" "Millennium Plan" "Tom Crosswhite" "Greg Roper""captive insurance" cresp "Ridge Plan" "Professional benefits Trust" "PBT " "Professional Planning Associates" "National Pension Associate" "NPA""Heritage Plan" ""Insurance fraud""pension and benefit plan fraud""insurance company fraud""ECI Pension Services""Pension Professionals of America""ABI""Hartford""AIG""Indy Life""Indianapolis Life""Advantage" Names of People who SOLD: "Kenny Hartstein""Dennis Cunning""Steve Toth""Michael Sonnenberg"Larry Bell""Scott Ridge""Randall Smith""Greg Roper""Tracy Sunderlage""Warren Trust""Joseph Donnelly""Norm Bevan""Judy Carsrud""Dan Carpenter""Ed Waesche" "Tom Crosswhite""David Struckman""George Huff" "Tom Crosswhite" "Greg Roper""Christopher Jarvis" David Mandell" Gen Von Oder Insurance Companies -- need to be 412 AND 419: Hartford 419, Pacific Life 419, PAC Life 419, AVIVA, 419, Indianpolis Life, Penn Mutual419,Bankers Life 419, John Hancock 419, Security Mutual 419, Transamerica 419,Prudential 419, Kansas City Life 419, Mass Mutual419, Guardian 419, Amerus 419, Wells Fargo 419, Fifth Third Bank 419, Arrow Head Trust 419, U.S. Benefits Group, Benefit Plan Advisors, Rex Insurance Service,Advantage,AIG, Old Mut

    www.taxaudit419.com for help benistar grist mill sadi novi trust IRS raids audits 419 lawusits

    ReplyDelete
  27. www.lancewallach.com for help

    Leagle.com
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    View Case
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    Citing Case
    NOVA BENEFIT PLANS, LLC v. COMMISSIONER OF INTERNAL REVENUE
    CASE NO. 8:10CV335.
    NOVA BENEFIT PLANS, LLC, Petitioner,
    v.
    COMMISSIONER OF INTERNAL REVENUE, Respondent.
    United States District Court, D. Nebraska.
    February 1, 2011.
    MEMORANDUM AND ORDER
    LAURIE SMITH CAMP, District Judge.
    This matter is before the Court on the Motion to Dismiss or Deny the Petition to Quash and for Enforcement of the Summons (Filing No. 17) filed by the Respondent Commissioner of Internal Revenue. Also before the Court is the Petitioner's Motion for Leave to File a Sur-Reply (Filing No. 24). The Court has reviewed the parties' briefs and indexes of evidence in support of their positions, and will grant the Respondent's Motion to Dismiss, deny the Petitioner's Motion to File a Sur-Reply, and dismiss the Petitioner's Petition to Quash Summons (Filing No. 1).
    BACKGROUND
    The parties' briefs and indexes of evidence show that the following essential facts are not in dispute. On August 18, 2010, Cynthia Wong ("Agent Wong"), an agent with the Internal Revenue Service ("IRS") issued a third-party administrative summons (the "Summons") under 26 U.S.C. 26 U.S.C. § 7602, to Washington National Insurance Company ("Washington National") iceeding, also seek to compel compliance with the summons. § 7609(b)(2)(A). Such enforcement proceedings are s

    ReplyDelete
  28. google lance wallach and whoever you are working with, who do you think is better?
    as an expert lance wallach has never lost a case www.lancewallach.com
    419 412i plans IRS audits lawsuits
    Lance Wallach
    director at taxaudit419.com
    Plan names:
    Benistar, SADI Trust,Beta 419,Millennium Plan,Bisys,Creative Services Group,Sterling Benefit Plan,Compass 419,Niche 419,CRESP,Sea Nine Veba, American Benefits Trust, National Benefit Plan and Trust, ABT, Professional Benefits Trust Benistar 419 Plan, nova trust, Grist mill trust, Sadi Trust IRS raids, Millennium 419 Plan,Bisys 419,Creative Services Group 419 Plan,Sterling Benefit 419 Plan,CRESP 419,Sea Nine Veba 419, National Benefit Plan and Trust 419, American Benefits Trust 419,ABT 419,Old Mutual, Allmerica Financial, American Heritage Life, Commercial Union Life, National Life of Vermont, Old Line Life, Security Mutual Life, West Coast Life "Grist Mill Trust" "Real Veba""Section 79 GEAR" GEAR" "United Financial Group" "Kenny Hartstein" "Millennium Plan" Kenny Hartstein" "Millennium Plan" "Tom Crosswhite" "Greg Roper""captive insurance" cresp "Ridge Plan" "Professional benefits Trust" "PBT " "Professional Planning Associates" "National Pension Associate" "NPA""Heritage Plan" ""Insurance fraud""pension and benefit plan fraud""insurance company fraud""ECI Pension Services""Pension Professionals of America""ABI""Hartford""AIG""Indy Life""Indianapolis Life""Advantage" Names of People who SOLD: "Kenny Hartstein""Dennis Cunning""Steve Toth""Michael Sonnenberg"Larry Bell""Scott Ridge""Randall Smith""Greg Roper""Tracy Sunderlage""Warren Trust""Joseph Donnelly""Norm Bevan""Judy Carsrud""Dan Carpenter""Ed Waesche" "Tom Crosswhite""David Struckman""George Huff" "Tom Crosswhite" "Greg Roper""Christopher Jarvis" David Mandell" Gen Von Oder Insurance Companies -- need to be 412 AND 419: Hartford 419, Pacific Life 419, PAC Life 419, AVIVA, 419, Indianpolis Life, Penn Mutual419,Bankers Life 419, John Hancock 419, Security Mutual 419, Transamerica 419,Prudential 419, Kansas City Life 419, Mass Mutual419, Guardian 419, Amerus 419, Wells Fargo 419, Fifth Third Bank 419, Arrow Head Trust 419, U.S. Benefits Group, Benefit Plan Advisors, Rex Insurance Service,Advantage,AIG, Old Mutual, Allmerica Financial, American Heritage Life, Commercial Union Life, National Life of Vermont, Old Line Life, Security Mutual Life, West Coast Life

    Delete

    ReplyDelete
    Replies
    1. KENNETH ELLIOT, 419 Plan, 412i plan, Captive Insurance Plan, Section 79 Plan, Benistar, 412i Plan

      Tuesday, January 7, 2014
      Sea Nine VEBA Important
      As of August 23,2013, the IRS has closed audits of 12 Sea Nine VEBA plan-participating taxpayers who were referred to Sea Nine by Sarva. For those taxpayers alone , the IRS assessed a total of $4,852,106in additional taxes, or an average additional tax of $404,342 per audit. Because Sarva has acknowledged directing atleast 40 of his customers to Sea Nine , the total amount of harm to the Treasury he has caused through promotion of improper VEBA plans is likely almost four times higher.
      Posted by L

      Delete
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  30. google lance wallach and whoever you are working with, who do you think is better?
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    Lance WallachJune 20, 2013 at 9:42 AM



    Life Agents and Accountants Fined $100,000 for Selling 419 and Other Insurance Plans
    ________________________________________
    By Lance Wallach, CLU, CHFC Abusive Tax Shelter, Listed Transaction, Reportable Transaction Expert Witness

    ReplyDelete
  31. What about Section 79 Plans? First, you can read my past few newsletters on Section 79 Plans by clicking here and looking for the newsletters from 7-14-08 and ...
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  32. What about Section 79 Plans? First, you can read my past few newsletters on Section 79 Plans by clicking here and looking for the newsletters from 7-14-08 and ...
    I did not write this article The Truth Behind Section 79 Benefit Plans ...

    https://plus.google.com/.../posts/Haw76kZYVQH‎
    Lance Wallach
    Jan 22, 2014 - The Truth Behind Section 79 Benefit Plans— I Can't Stand the Hypocrisy Anymore As you already know, I often tell the readers of my newsletter that many times ...

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  35. 
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    Section 79 allows employers to offer group and permanent life insurance benefits with contributions that are typically tax-deductible to the corporation. Many employers already offer group term life insurance to their employees. Typically this amount is limited to $50,000 of coverage and is generally income tax-free for employees. But key-employees and owners often need permanent coverage and higher coverage amounts. Adding a permanent benefit to a group term life insurance program can help owners attract, retain and reward key employees and owners. Using the guidelines of IRC Section 79, a corporation can potentially use pre-tax dollars to provide tax-advantaged benefits to participating employees.

    ReplyDelete
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    6707A Penalties & 419 Plans Litigation: Court CaseSea Nine Veba
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    Reportable Transactions & 419 Plans Litigation
    412i, 419e plans litigation and IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.

    Tuesday, November 27, 2012
    CJA and associates 419 412i section 79 scam audits lawsuits
    CJA and associates 419 412i section 79 scam audits lawsuits

    ReplyDelete
  37. Lance Wallach
    Shared publicly - Feb 24, 2014
    #ExpertWitness


    419, 412i, Captive And Section 79 Plans Continue To Draw IRS Attention.
    By Lance Wallach, Consultant & Expert Witness Recent court cases have highlighted serious problems in welfare benefit plans issued by Nova Benefit Plans. Recently unsealed IRS criminal case information now raises concerns with other plans as wel...

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  38. Section 79 Plans
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    Wednesday, August 15, 2012

    Section 79, Captive Insurance, IRS Audits and Lawsuits on 419 and 412i Plans



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    By Lance Wallach, CLU, CHFC Abusive Tax Shelter, Listed Transaction, Reportable Transaction Expert Witness

    IRS Attacks Business Owners in 419, 412, Section 79 and Captive Insurance Plans Under Section 6707A - By Lance Wallach - Taxpayers who previously adopted 419, 412i, captive insurance or Section 79 plans are in big trouble. In recent years, the IRS has identified many of these arrangements as abusive devices to funnel tax ded

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  39. CJA Marketing CJA and Associates Sold defective ... - Ripoff Report
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    ReplyDelete
  40. 6707A Penalties & 419 Plans Litigation
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  41. 412i-419 Plans
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    ReplyDelete
  42. CJA & Associates and 412i, 419, and Other Abusive Plans



    For help with CJA & Associates and 412i, 419, and other abusive plans contact Lance Wallach at lawallach@aol.com or call 516-938-5007. Lance Wallach is the leading expert on 412i, 419, Section 79 and Captive Insurance Plans. Lance has helped hundreds of people resolve their problems and get all their money back, usually without a lawsuit. Google Lance Wallach and see why CJA & Associates, insurance companies, and the IRS do not want to fight with Lance Wallach.
    Posted by Lance Wallach at 11:59 AM
    Labels: 412i Benefit Plan, abusive tax shelters, CJA and Associates, IRS Audits, Listed Transactions, section 79
    30 comments:

    Lance WallachJuly 31, 2013 at 8:22 AM


    412i IRS audits, listed transactions
    ________________________________________
    April 24, 2012 By Lance Wallach, CLU, CHFC
    ________________________________________

    IRS auditing 412i plans
    Protecting Clients From Fraud, Incompetence, and Scams
    By: Lance Wallach

    ReplyDelete
  43. Raymond Ankner -Expected to be the biggest life insurance failure in Illinois
    Raymond Ankner -Expected to be the biggest life insurance failure in Illinois : IRS Attacks CJA & CJA and Associates’ plans, 412i, 419e plans litigation and IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.Benistar,412i Lawsuits,419 lawsuits,412i Help,419 Help, IRS Audits,412i Problems,412i problems, Expert Witness Lance Wallach,412i Help,419 Help, Benistar Lawsuits, 412i lawsuits,419 lawsuits,

    Friday, January 11, 2013

    Raymond Ankner -Expected to be the biggest life insurance failure in Illinois : IRS Attacks CJA & CJA and Associates’ plans
    Raymond Ankner -Expected to be the biggest life insurance failure in Illinois : IRS Attacks CJA & CJA and Associates’ plans: To Read More: http://taxshelteraudits.org/2011/10/14/irs-attacks-cja--cja-and-associates-plans.aspx
    Posted by Lance Wallach at 12:53 PM 8 comments:
    Email This
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    Labels: 412i, 419, abusive tax shelters, cja and associate
    Liquidation Comes For Lavish Insurer

    ReplyDelete
  44. CJA & Associates and 412i, 419, and Other Abusive Plans
    wewanttoprofileyouinnewbook.blogspot.com/.../cja-associates-and-412i-...‎
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    Nov 27, 2012 - ... Lance Wallach at 11:59 AM. Labels: 412i Benefit Plan, abusive tax shelters, CJA and Associates, IRS Audits, Listed Transactions, section 79 ...
    You've visited this page 5 times. Last visit: 3/6/14
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  45. Raymond Ankner -Expected to be the biggest life insurance failure in Illinois
    Raymond Ankner -Expected to be the biggest life insurance failure in Illinois : IRS Attacks CJA & CJA and Associates’ plans, 412i, 419e plans litigation and IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.Benistar,412i Lawsuits,419 lawsuits,412i Help,419 Help, IRS Audits,412i Problems,412i problems, Expert Witness Lance Wallach,412i Help,419 Help, Benistar Lawsuits, 412i lawsuits,419 lawsuits,

    Friday, January 11, 2013

    Liquidation Comes For Lavish Insurer

    January |By Laurie Cohen
    In 1990 Chicago insurance executive Raymond Ankner flew about 100 of his top agents to Germany to celebrate Oktoberfest in Cologne. The cost of the trip was $800,000, billed to Ankner`s businesses.
    But insurance regulators were already beginning to question expenses at his main insurance unit, InterAmerican Insurance Co. of Illinois. When the Illino

    ReplyDelete
  46. 412i 419E IRS Audits and Problems
    412i, 419e plans litigation and IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.
    Tuesday, November 27, 2012

    CJA & Associates and 412i, 419, and Other Abusive Plans



    For help with CJA & Associates and 412i, 419, and other abusive plans contact Lance Wallach at lawallach@aol.com or call 516-938-5007. Lance Wallach is the leading expert on 412i, 419, Section 79 and Captive Insurance Plans. Lance has helped hundreds of people resolve their problems and get all their money back, usually without a lawsuit. Google Lance Wallach and see why CJA & Associates, insurance companies, and the IRS do not want to fight with Lance Wallach.

    ReplyDelete
  47. IRS tax relief firm, Lance Wallach, speaking
    Monday, March 10, 2014

    Help with Common IRS Problems: welfare benefit plan 419 lawsuit audit www.vebapla...
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  49. +Lance
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    Shared publicly - Mar 3, 2014
    #Lawsuits

    Friday, February 7, 2014

    Reportable Transactions & 419 Plans Litigation: CJA and associates 419 412i section 79 scam audits...
    Reportable Transactions & 419 Plans Litigation: CJA and associates 419 412i section 79 scam audits...: CJA and associates 419 412i section 79 scam audits lawsuits

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    CJA and Associates - WFG-On

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    ReplyDelete
  50. 6707A Penalties & 419 Plans Litigation
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    412i, 419, Lawsuits, IRS Audits. Lance

    ReplyDelete
  51. Raymond Ankner -Expected to be the biggest life insurance failure in Illinois
    Raymond Ankner -Expected to be the biggest life insurance failure in Illinois : IRS Attacks CJA & CJA and Associates’ plans, 412i, 419e plans litigation and IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.Benistar,412i Lawsuits,419 lawsuits,412i Help,419 Help, IRS Audits,412i Problems,412i problems, Expert Witness Lance Wallach,412i Help,419 Help, Benistar Lawsuits, 412i lawsuits,419 lawsuits,

    Friday, January 11, 2013

    Raymond Ankner -Expected to be the biggest life insurance failure in Illinois : IRS Attacks CJA & CJA and Associates’ plans
    Raymond Ankner -Expected to be the biggest life insurance failure in Illinois : IRS Attacks CJA & CJA and Associates’ plans: To Read More: http://taxshelteraudits.org/2011/10/14/irs-attacks-cja--cja-and-associate

    ReplyDelete
  52. Back to Main Pagebenefit plans and two plan participants in those plans. They sue under §§ 502

    (a)(2) and (a)(3) of the Employee Retirement Income Security Act ("ERISA"), 29 U.S.C.

    §§ 1132 (a)(2) and (a)(3), against the fiduciaries who gave them investment advice and

    administered these plans.

    Case 3:12-cv-01110 Document 1 Filed 08/01/12 Page 1 of 36

    2.

    Defendant Fidelity Security Life Insurance Company (FSL) through its

    agents defendants CJA Associates, Inc. (CJA) and Thomas Thorndike

    (Thorndike)(collectively Defendants) used a pre-packaged program designed and

    administered by CJA and defendant First Actuarial Corporation (FAC) to induce the

    Plaintiffs and other similarly situated businesses to establish employee benefit programs

    and invest plan trust assets in FSL annuities. Pre-packaged recommendations prepared

    by CJA and delivered by Thorndike promised the Plaintiffs and others that investing

    plan trust assets in these annuities would yield large tax breaks for the businesses and

    secure large retirement benefits for plan participants.

    ReplyDelete
  53. Tuesday, February 28, 2012

    Lance Wallach National Society of Accountants Speaker of The Year

    Posted by Lance Wallach at 11:33 AM
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    Labels: lance wallach, Lance Wallach Expert Witness, Taxaudits
    5 comments:

    Lance WallachJuly 16, 2013 at 4:56 AM
    Google Lance Wallach for more

    Reply
    Replies

    Lance WallachApril 22, 2014 at 10:09 AM


    rticipation of these plans is the large tax deduction generated by such participation. It
    follows that taxpayers who no longer enjoy the benefit of those large deductions are no
    longer "participating ' in the listed transaction. But that is not the end of the story.
    Many taxpayers who are no longer taking current tax deductions for these plans continue to
    enjoy the benefit of previous tax deductions by continuing the deferral of income from
    contributions and deductions taken in prior years. While the regulations do not expand on
    what constitutes "reflecting the tax consequences of the strategy", it could be argued that
    continued benefit from a tax deferral for a previous tax deduction is within the contemplation
    of a "tax consequence" of the plan strategy. Also, many taxpayers who no longer make
    contributions or claim tax deductions continue to pay administrative fees. Sometimes,
    money is taken from the plan to pay premiums to keep life insurance policies in force. In
    these ways, it could be argued that these taxpayers are still "contributing", and thus still
    must file Form 8886.

    It is clear that the extent to which a taxpayer benefits from the transaction depends on the
    purpose of a particular transaction as described in the published guidance that caused such
    transaction to be a listed transaction. Revenue Ruling 2004-20 which classifies 419(e)
    transactions, appears to be concerned with the employer's contribution/deduction amount
    rather than the continued deferral of the income in previous years. This language may
    provide the taxpayer with a solid argument in the event of an audit.

    Lance Wallach, National Society of Accountants Speaker of the Year and member of the
    AICPA faculty of teaching professionals, is a frequent speaker on retirement plans, financial
    and estate planning, and abusive tax shelters. He writes about 412(i), 419, and captive
    insurance plans. He speaks at more than ten conventions annually, writes for over fifty
    publications, is quoted regularly in the press and has been featured on television and radio
    financial talk shows including NBC, National Pubic Radio's All Things Considered, and
    others. Lance has written numerous books including Protecting Clients from Fraud,
    Incompetence and Scams published by John Wiley and Sons, Bisk Education's CPA's
    Guide to Life Insurance and Federal Estate and Gift Taxation, as well as AICPA best-selling
    books, including Avoiding Circular 230 Malpractice Traps and Common Abusive Small
    Business Hot Spots. He does expert witness testimony and has never lost a case. Contact
    him at 516.938.5007, wallachinc@gmail.com or visit www.taxaudit419.com or www.taxlibrary.
    us.

    The information provided herein is not intended as legal, accounting, financial or any
    other type of advice for any specific individual or other entity. You should contact an
    appropriate professional for any such advice.



    Delete
    Reply

    ReplyDelete
  54. Reportable Transactions & 419 Plans Litigation
    412i, 419e plans litigation and IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.

    Tuesday, November 27, 2012
    CJA and associates 419 412i section 79 scam audits lawsuits
    CJA and associates 419 412i section 79 scam audits lawsuits
    Posted by Lance Wallach at 10:00 AM
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    Labels: 412i, 419, audits, Lance Wallach, lance wallach expert witness, section79
    56 comments:

    Lance WallachJune 20, 2013 at 9:41 AM
    google lance wallach for more

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    Replies

    Lance WallachJanuary 22, 2014 at 10:46 AM
    google lance wallach and whoever you are working with, who do you think is better?
    as an expert lance wallach has never lost a case www.lancewallach.com
    419 412i plans IRS audits lawsuits
    Lance Wallach
    director at taxaudit419.com
    Plan names:
    Benistar, SADI Trust,Beta 419,Millennium Plan,Bisys,Creative Services Group,Sterling Benefit Plan,Compass 419,Niche 419,CRESP,Sea Nine Veba, American Benefits Trust, National Benefit Plan and Trust, ABT, Professional Benefits Trust Benistar 419 Plan, nova trust, Grist mill trust, Sadi Trust IRS raids, Millennium 419 Plan,Bisys 419,Creative Services Group 419 Plan,Sterling Benefit 419 Plan,CRESP 419,Sea Nine Veba 419, National Benefit Plan and Trust 419, American Benefits Trust 419,ABT 419,Old Mutual, Allmerica Financial, American Heritage Life, Commercial Union Life, National Life of Vermont, Old Line Life, Security Mutual Life, West Coast Life "Grist Mill Trust" "Real Veba""Section 79 GEAR" GEAR" "United Financial Group" "Kenny Hartstein" "Millennium Plan" Kenny Hartstein" "Millennium Plan" "Tom Crosswhite" "Greg Roper""captive insurance" cresp "Ridge Plan" "Professional benefits Trust" "PBT " "Professional Planning Associates" "National Pension Associate" "NPA""Heritage Plan" ""Insurance fraud""pension and benefit plan fraud""insurance company fraud""ECI Pension Services""Pension Professionals of America""ABI""Hartford""AIG""Indy Life""Indianapolis Life""Advantage" Names of People who SOLD: "Kenny Hartstein""Dennis Cunning""Steve Toth""Michael Sonnenberg"Larry Bell""Scott Ridge""Randall Smith""Greg Roper""Tracy Sunderlage""Warren Trust""Joseph Donnelly""Norm Bevan""Judy Carsrud""Dan Carpenter""Ed Waesche" "Tom Crosswhite""David Struckman""George Huff" "Tom Crosswhite" "Greg Roper""Christopher Jarvis" David Mandell" Gen Von Oder Insurance Companies -- need to be 412 AND 419: Hartford 419, Pacific Life 419, PAC Life 419, AVIVA, 419, Indianpolis Life, Penn Mutual419,Bankers Life 419, John Hancock 419, Security Mutual 419, Transamerica 419,Prudential 419, Kansas City Life 419, Mass Mutual419, Guardian 419, Amerus 419, Wells Fargo 419, Fifth Third Bank 419, Arrow Head Trust 419, U.S. Benefits Group, Benefit Plan Advisors, Rex Insurance Service,Advantage,AIG, Old Mutu

    ReplyDelete
  55. California Broker Magazine June 2008

    Get a Large Deduction With a 412(e)(3) Retirement Plan
    by Lance Wallach


    Successful business owners need big deductions and benefits, which can only be accomplished through a defined benefit plan. Any business can use a 412(e)(3) plan to provide benefits and reduce taxes substantially. The 412(e)(3) plan allows the owner to get the largest legal deduction. At 45, an owner could deduct more than $200,000 per year for himself and more than $300,000 per year at age 55.

    Most accountants have never heard of these types of plans, which were defined by the Pension Protection Act of 2006 and are regulated by the IRS and the Dept. of Labor.

    The best fit is with companies that have highly taxed owners, but few employees, such as doctors, commercial real estate salespeople, consultants, and other small business owners. A larger business would be better off with a cash balance plan, which also allows owners and key employees to make large contributions. A 412(e)(3) is easy to administer and simple to explain. Other benefits can include asset protection and the ability to deduct life insurance.

    Care must be taken with respect to who administers the plan. There have been abuses with the operation of some of these plans and the IRS has disallowed deductions for some abuses. It is important to know whom you are dealing with and that the administrator has the experience and integrity to run the plan correctly. Just because an insurance company may be involved does not make the operation of the plan legitimate.

    There are many benefits of using a 412(e)(3) plan. In addition to the large tax deduction, the plan can even be combined with a 401k. This may be the ideal tax deduction for the profitable small business owner or professional.

    Lance Wallach, speaks and writes extensively about retirement plans, estate planning, and tax reduction strategies. He speaks at more than 70 conventions annually, writes for more than 50 publications, and was the National Society of Accountants Speaker of the Year. Contact him at 516-938-5007 or visit www.vebaplan.com
    The information provided herein is not intended as legal, accounting, financial or any other type of advice for any specific individual or other entity. You should contact an appropriate professional for any such advice.

    ReplyDelete
  56. IRS Attacks CJA & CJA and Associates' plans
    taxshelteraudits.org/2011/.../irs-attacks-cja--cja-and-associates-plans.aspx‎
    Oct 14, 2011 - Lance Wallach. Our tax resolution offices have been alerted that taxpayers are starting to be contacted by the IRS concerning plans in ...
    You shared this on Google+

    ReplyDelete
  57. IRS Attacks CJA & CJA and Associates’ plans




    Lance Wallach

    Our tax resolution offices have been alerted that taxpayers are starting to be contacted by the IRS concerning plans in connection with CJA & CJA and Associates. If you are in any type of benefit plan, a plan having insurance, 419 plan, 412i, 412(e)(3), 419e, Welfare benefit plans, Prepare Plan, Titanium, Section 79, Captive Insurance or other CJA plan contact our office immediately for assistance.

    www.taxaudit419.com

    www.vebaplan.org

    For more information and additional articles on these subjects, visit www.vebaplan.com, or call 516-938-5007





    http://lwallachcourtcase.blogspot.com/



    UNITED STATES DISTRICT COURT

    DISTRICT OF CONNECTICUT

    U.S. TELEMANAGEMENT, INC.,

    :

    DOCKET NO.

    RONALD SCHEIBEL, individually

    and on behalf of the U.S.

    :

    Telemanagement Inc. Defined

    Benefit Plan and the U.S.

    :

    Telemanagement Inc. Welfare Benefit

    Trust, S. KENESTON AND

    :

    ASSOCIATES, INC., and SCOTT

    KENESTON, individually and

    :

    on behalf of the S. Keneston Defined

    Benefit Plan,

    :

    Plaintiffs,

    :

    v.

    :

    FIDELITY SECURITY LIFE

    :

    JULY 31, 2012

    INSURANCE CO., CJA ASSOCIATES,

    INC., FIRST ACTUARIAL

    :

    CORPORATION and THOMAS

    THORNDIKE,

    :

    Defendants. :

    Class Action Complaint



    I.

    Summary.

    1.

    This is a class action brought by two small businesses that established

    employee benefit plans and two plan participants in those plans. They sue under §§ 502

    (a)(2) and (a)(3) of the Employee Retirement Income Security Act ("ERISA"), 29 U.S.C.

    §§ 1132 (a)(2) and (a)(3), against the fiduciaries who gave them investment advice and

    administered these plans.

    Case 3:12-cv-01110 Document 1 Filed 08/01/12 Page 1 of 36

    2.

    Defendant Fidelity Security Life Insurance Company (FSL) through its

    agents defendants CJA Associates, Inc. (CJA) and Thomas Thorndike

    (Thorndike)(collectively Defendants) used a pre-packaged program designed and

    administered by CJA and defendant First Actuarial Corporation (FAC) to induce the

    Plaintiffs and other similarly situated businesses to establish employee benefit programs

    and invest plan trust assets in FSL annuities. Pre-packaged recommendations prepared

    by CJA and delivered by Thorndike promised the Plaintiffs and others that investing

    plan trust assets in these annuities would yield large tax breaks for the businesses and

    secure large retirement benefits for plan participants.

    ReplyDelete
  58. In the third case, Harris v. Koresko et al (docket number: 2:09-cv-00988-MAM), the DOL was granted a limited injunction by the U.S. District Court for the Eastern District of Pennsylvania. The district court agreed with the DOL’s allegations that harm was being done, by the Pennsylvania-based fiduciaries of welfare benefit plans sponsored by employers nationwide, to the plans’ participants.

    Defendants John J. Koresko, V, PennMont Benefit Services, Inc., Penn Public Trust, Koresko and Associates, P.C., and Koresko Law Firm, P.C., their agents, employees, service providers, accountants, attorneys, and any other party acting at their direction, were removed from positions held with the Single Employer Welfare Benefit Plan Trust (SEWBPT) and/or the Regional Employers Assurance League Voluntary Employees’ Beneficiary Association Trust (REAL VEBA). The defendants were also enjoined from serving as administrator, fiduciary, officer, trustee, custodian, counsel, agent, representative (including acting as attorney in fact), or consultant or adviser of the plans or employer arrangements participating in the SEWBPT and/or the REAL VEBA.

    An independent fiduciary for the plans was also appointed by the court to obtain an inventory of assets and to distribute the assets of the plans appropriately.

    ReplyDelete
  59. Home » Cook County » News »
    Email to Friend Email to Friend
    Life insurance company, others sued over employee benefit programs
    January 30, 2014 10:00 AM
    By Joel Brakken
    Three people and a company are suing over claims they were recommended unsuitable employee benefit programs.

    Stephen McClure, Mark McClure, Carolyn Robinson and International Plastics Inc. filed a lawsuit Nov. 25 in the Cook County Circuit Court against Fidelity Security Life Insurance Co., CJA & Associates Inc., Raymond Ankner, Fifth Third Bank, Jason Freeman and J. Freeman & Associates Inc.

    The suit alleges common law fraud, negligence, negligent misrepresentation and unjust enrichment, among other claims.

    According to the complaint, the defendants used a pre-packaged program designed and administered to induce the plaintiffs to establish employee benefit programs.

    The plaintiffs claim the pre-packaged recommendations promised they would receive tax breaks for their business and secure large retirement benefits for plan participants.

    They claim the defendants knew or should have known the investments they recommended were wholly unsuitable and the cost far exceeded any potential benefits.

    The plaintiffs are seeking more than $50,000 in damages and are being represented in the case by Anthony R. Rutkowski of Rutkowski Law Group in Chicago.

    Cook County Circuit Court Case No. 2013L013514.

    This is a report on a civil lawsuit filed at the Cook County Courthouse. The details in this report come from an original complaint filed by a plaintiff. Please note that a complaint represents an accusation by a private individual, not the government. It is not an indication of guilt, and it represents only one side of the story.

    More

    ReplyDelete
  60. New Spring/Summer 2008 AICPA CPE Self-Study and On-Site Training Catalog is here! Best Selling Course From Catalog:

    The New Spring/Summer 2008 AICPA CPE Self-Study Catalog is here! Turn to the AICPA for a wide variety of quality training and educational resources for you and your staff.
    Sid Kess’ Practical Alternatives to Commonly Misused and Abused Small Business Tax Strategies: Insuring Your Client’s Future
    Author/Moderator: Lance Wallach, CLU, CHFC, CIMC
    Publisher: AICPA
    Availability: In Stock
    A perfect follow-up to “Avoiding Circular 230 Malpractice Traps and Common Abusive Small Business Hot Spots,” this course was created by the renowned Sid Kess. Learn the best strategies for reducing taxes and building, conserving and passing wealth to the next generation while at the same time avoiding abusive strategies. Utilize retirement planning strategies under the Pension Protection Act and the latest health care financing methods. Advise your clients how to avoid being victims of IRS enforcement of aggressive insurance and retirement products.
    Objectives:
    • Identify practical alternatives to abusive tax shelters
    • Understand how to integrate financial products as part of a retirement plan
    • Discover how to use innovative retirement and financial programs to improve business and personal financial wealth of your clients
    • Optimize your value in the planning process between your clients and their financial advisors
    Prerequisite: None
    A NASBA Field of Study: Taxes
    Level: Intermediate
    Recommended CPE Credit: 4
    Accepted for CFP® credit.

    • Overview
    o Course Objectives
    o Introduction
    o Organization
    • Chapter 1 - Planning for Business Owners
    o Learning Objectives
    o Introduction
    o Building the Perfect Retirement Plan
     SEP IRA: The Good
     SEP IRA: The Bad
     SEP IRA: The Ugly
     The K
     The Double K
     Defined Benefit Plans
     Adding Survivor Benefits
     412(i) Defined Benefit Plan

    ReplyDelete
  61. Healthcare Strategies v. ING Life Insurance and Annuity Co ...

    blog.fraplantools.com/erisa-litigation.../healthcare-strategies-v-in...‎
    by Thomas E. Clark, Jr.
    New Cases Added to the ERISA Litigation Index – May 2013 (May 2, 2013). Key Defendants: ING Life Insurance and Annuity Co. Significant Filings

    ReplyDelete
  62. Sea Nine Veba
    SADI Trust
    Beta 419
    Millennium
    Bisys
    Creative Services Group
    Sterling Benefit Plan
    Compass 419
    Niche 419
    CRESP
    American Benefits Trust
    National Benefit Plan and Trust
    ABT
    Professional Benefits Trust
    Old Mutual
    Allmerica Financial
    American Heritage Life
    Commercial Union Life
    National Life of Vermont
    Old Line Life
    Security Mutual Life
    West Coast Life
    ECI Pension Services
    Pension Professionals of America
    ABI
    Hartford
    AIG
    Indy Life
    Indianapolis Life
    Advantage
    Jacksom National
    Jefferson-Pilot Life
    Lincoln Benefit Life
    Lincoln National Life
    Manufacturers Life
    Massachusetts Mutual
    Metropolitan Life
    Midland Life
    Minnesota Mutual
    Principal Life
    Reliastar
    Security Mutual
    USG Annuity & Life
    Western Reserve Life Assurance
    Old Mutual
    Allmerica Financial
    American Heritage Life
    Commercial Union Life
    National Life of Vermont
    Old Line Life
    Security Mutual Life
    West Coast Life

    ReplyDelete
  63. Raymond Ankner -Expected to be the biggest life insurance failure in Illinois
    Raymond Ankner -Expected to be the biggest life insurance failure in Illinois : IRS Attacks CJA & CJA and Associates’ plans, 412i, 419e plans litigation and IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.Benistar,412i Lawsuits,419 lawsuits,412i Help,419 Help, IRS Audits,412i Problems,412i problems, Expert Witness Lance Wallach,412i Help,419 Help, Benistar Lawsuits, 412i lawsuits,419 lawsuits,

    Friday, April 4, 2014

    Captive Insurance & 419 Plans Litigation: September 2013
    Captive Insurance & 419 Plans Litigation: September 2013
    Posted by Lance Wallach at 11:02 AM 7 comments:
    Email This
    BlogThis!
    Share to Twitter
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    Captive Insurance & 419 Plans Litigation: September 2013
    Captive Insurance & 419 Plans Litigation: September 2013
    Posted by Lance Wallach at 11:02 AM 2 comments:

    ReplyDelete
  64. Veingrad named Marketing Sales Director for CJA & Associates

    NAPLES, July 21, 2010 – Ray Ankner, founder of CJA & Associates, a national
    employee benefits company, has announced that Alan Veingrad will assume the position
    of Marketing Sales Director of CJA.

    ReplyDelete
  65. Reportable Transactions & 419 Plans Litigation
    412i, 419e plans litigation and IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.

    Tuesday, August 7, 2012
    419 Life Insurance Plans and Other Scams – Large IRS Fines –

    The IRS Raids Plan Promoter Benistar, and What Does All This Mean To You?

    Articlebase
    Posted: Dec. 9


    By Lance Wallach

    Recently IRS raided Benistar, which is also known as the Grist Mill Trust, the promoter and operator of one of the better known and more heavily scrutinized of the Section 419 life insurance plans. IRS attacked the Benistar 419 plan, and one of its tactics was to demand the names of all the clients Benistar worked with — so they could be audited by the IRS, Benistar refused to give the names and actually appealed the decision to turn over the names. The appeal was unsuccessful, but Benistar officials still refused to give up the names. Recently, the IRS raided the Benistar office and took hundreds of boxes of information, which included information on clients who were in their 419 plan. In documents filed by Benistar itself, they stated that 35 to 50 armed IRS agents descended upon their office to seize documents.
    IRS has visited, and is still visiting most of the other plans and obtaining names of participants, selling insurance agents, accountants, etc. They have a whole task force devoted to auditing 419, 412i and other abusive plans.
    It’s important to understand what could happen to unsuspecting business owners if they get involved in plans that are not above board. Their names could be turned over to the IRS, where audits could ensue, and where the outcome could be the payment of back taxes and significant penalties. Then they would be fined another time under Section 6707A for not properly reporting on themselves.
    Most 419 life insurance and 412i defined benefit pension plans were sold to successful business owners as plans with large tax deductions where money would grow tax free until needed in retirement. I would speak at national accounting and other conventions talking about the problems with most of these plans. I would be attacked by some attendees who where making large insurance commissions selling the plans. I would try to warn insurance company home office executives, but they too had their heads in the sand because of all the money these plans brought in. Then the IRS got tough and started fining the unsuspecting business owners hundreds of thousands a year for not reporting on themselves for being in the plan. The agents and insurance companies advise

    ReplyDelete
  66. IRS ATTACKS CJA & CJA AND ASSOCIATES’ PLANS

    IRS Attacks CJA & CJA and Associates’ plans



    Our tax resolution offices have been alerted that taxpayers are starting to be contacted by the IRS concerning plans in connection with CJA & CJA and Associates. If you are in any type of benefit plan, a plan having insurance, 419 plan, 412i, 412(e)(3), 419e, Welfare benefit plans, Prepare Plan, Titanium, Section 79, Captive Insurance or other CJA plan contact our office immediately for assistance.



    www.taxaudit419.com

    www.vebaplan.org



    516-938-5007





    The information provided herein is not intended as legal, accounting, financial or any type of advice for any specific individual or other entity. You should contact an appropriate professional for any such advice.

    ReplyDelete
  67. Submitted: Wed, April 24, 2013 Updated: Wed, April 24, 2013
    Reported By: Steve — Greenville South Carolina
    CJA Marketing
    Naples FL
    Internet
    United States of America
    Phone:
    Web: Www.cjamarketing.com
    Category: Insurance Agencies
    CJA Marketing CJA and Associates Sold defective retirement plans costing us hundreds of thousands of dollars, Internet

    ReplyDelete
  68. 412i 419E IRS Audits and Problems
    412i, 419e plans litigation and IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.
    Tuesday, August 20, 2013

    Check out my #constantcontact newsletter
    Check out my #constantcontact newsletter
    Posted by Lance Wallach at 11:41 AM No comments:
    Labels: Constantcontact, expert witness, Lance Wallach, Lance Wallach Expert
    Thursday, August 8, 2013

    ReplyDelete
  69. Raymond Ankner -Expected to be the biggest life insurance failure in Illinois
    Raymond Ankner -Expected to be the biggest life insurance failure in Illinois : IRS Attacks CJA & CJA and Associates’ plans, 412i, 419e plans litigation and IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.Benistar,412i Lawsuits,419 lawsuits,412i Help,419 Help, IRS Audits,412i Problems,412i problems, Expert Witness Lance Wallach,412i Help,419 Help, Benistar Lawsuits, 412i lawsuits,419 lawsuits,

    Thursday, April 3, 2014

    Offers in Compromise (IRS settlements)
    Offers in Compromise (IRS settlements) are very difficult to get, but the IRS does grant them.
    I put together this short questionnaire for taxpayers to use to determine whether or not they qualify for an IRS settlement.
    Form 656 is the Offer in Compromise (Offer) form. On its face the form seems simple enough, but if you read the instructions carefully you will soon see that most of the work is in assembling and presenting detailed financial information in support of the Offer.
    Far too many taxpayers have tried to file an Offer themselves only to get rejected for failure to comply with the instructions.
    The IRS receives hundreds of thousands of Offers in Compromise each year, most of which do not comply with the instructions or are incomplete. A thorough Offer filed in compliance with the instructions stands out.
    The proper initial filing of an Offer greatly increases the chances of IRS acceptance.
    The Questionnaire
    In deciding whether or not to pursue the Offer in Compromise option, you should ask yourself the following questions:
    1. Are you in bankruptcy proceedings?
    If so, the IRS cannot consider and will not accept your offer.

    ReplyDelete
  70. Help with Common IRS Problems

    Tuesday, February 18, 2014

    Lance Wallach Life Insurance: 2330. Implied Obligation of Good Faith and Fair De...
    Lance Wallach Life Insurance: 2330. Implied Obligation of Good Faith and Fair De...: 2330. Implied Obligation of Good Faith and Fair Dealing Explained is a California Law but other states have similar laws. This instruction ...
    Posted by Lance Wallach at 12:50 PM
    Email This
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    Share to Twitter
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    Labels: Expert Witness, Insurance, Lance Wallach, Lance Wallach Expert Witness, Life Insurance
    2 comments:

    Lance WallachApril 24, 2014 at 8:47 AM
    419 & 412i benefit plan,abusive tax shelters, Lance Wallach Expert Witness

    Tuesday, March 25, 2014
    Section 79 Plans: WHAT IS A SECTION 79 PLAN?
    Section 79 Plans: WHAT IS A SECTION 79 PLAN?: Section 79 plans are commonly known for the $50,000 free term life insurance they can provide for employees. Less commonly known is tha...

    ReplyDelete
  71. 412i-419 Plans
    419 & 412i benefit plan,abusive tax shelters, Lance Wallach Expert Witness

    Wednesday, May 21, 2014
    Abusive Tax Shelters & 419 Plans Lawsuits: 412i Tax Shelter Fraud Litigation - How It Works
    Abusive Tax Shelters & 419 Plans Lawsuits: 412i Tax Shelter Fraud Litigation - How It Works: Lance Wallach PARTIES: Typically, these transactions will include an Insurance company, accountant, tax attorney, and a promoter ...









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    ReplyDelete
  72. Reportable Transactions & 419 Plans Litigation
    412i, 419e plans litigation and IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.

    Thursday, March 29, 2012
    Captive Insurance and Other Tax Reduction Strategies – The Good, Bad, and Ugly



    By Lance Wallach May 14th


    Every accountant knows that increased cash flow and cost savings are critical for businesses. What is uncertain is the best path to recommend to garner these benefits.

    Over the past decade business owners have been overwhelmed by a plethora of choices designed to reduce the cost of providing employee benefits while increasing their own retirement savings. The solutions ranged from traditional pension and profit sharing plans to more advanced strategies.

    Some strategies, such as IRS section 419 and 412(i) plans, used life insurance as vehicles to bring about benefits. Unfortunately, the high life insurance commissions (often 90% of the contribution, or more) fostered an environment that led to aggressive and noncompliant plans.

    The result has been thousands of audits and an IRS task force seeking out tax shelter promotion. For unknowing clients, the tax consequences are enormous. For their accountant advisors, the liability may be equally extreme.

    Recently, there has been an explosion in the marketing of a financial product called Captive Insurance. These so called “Captives” are typically small insurance companies designed to insure the risks of an individual business under IRS code section 831(b). When properly designed, a business can make tax-deductible premium payments to a related-party insurance company. Depending on circumstances, underwriting profits, if any, can be paid out to the owners as dividends, and profits from liquidation of the company may be taxed as capital gains.

    While captives can be a great cost saving tool, they also are expensive to build and manage. Also, captives are allowed to garner tax benefits because they operate as real insurance companies. Advisors and business owners who misuse captives or market them as estate planning tools, asset protection vehicles, tax deferral or other be

    ReplyDelete
  73. CJA and Associates Reviews Updated Apr 25, 2014
    Be The First To
    Add Photos

    All Employees Current Employees Only
    2.0 1 reviews
    Culture & Values Work/Life Balance Senior Management Comp & Benefits Career Opportunities
    Not yet rated.
    (no image)
    Ray Ankner

    1 Employee Review Relevance Date Rating
    inSearch Reviews
    Apr 25, 2014
    Culture & Values

    Work/Life Balance

    Senior Management

    Comp & Benefits

    Career Opportunities


    “Good job with downfalls”

    Anonymous Employee (Former Employee)
    I worked at CJA and Associates full-time for more than 8 years

    Pros – Pay is above industry average.

    Cons – Tough to move up in company. Management sometimes difficult to work with.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    Was this review helpful? Yes |

    ReplyDelete
  74. 412i 419E IRS Audits and Problems
    412i, 419e plans litigation and IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.
    Thursday, February 27, 2014

    PROTECTING RETIREMENT BENEFITS THROUGH EDUCATING CUSTOMERS
    Employee Plans News


    EP Launches Web Section on Abusive Tax Shelter Schemes




    Internal Revenue Service
    Tax Exempt and Government
    Entities Division
    A Publication of Employee Plans


    As part of its effort to combat abusive tax shelter schemes and transactions, Employee Plans has launched a
    new Web section containing important information about abusive schemes involving employee retirement plans.
    The section warns promoters and plan professionals about the consequences of participating in such schemes.
    It also provides a hotline for reporting suspected abusive transactions to the IRS.

    ReplyDelete
  75. Lance Wallach
    Managing Director
    The Offices of Lance Wallach
    Serving clients
    nationwide

    Call us today:
    516-938-5007

    Email us at:

    LanWalla@aol.com
    Every one of our consulting attorneys, CPAs & ex
    IRS Agents has over 25 years of professional
    experience! We believe that no firm has more
    experienced professionals to assist our clients
    than we do!
    Specializing in the following services:

    "IRS audit appeals"
    U.S. 'Tax Court' cases
    Multinational taxation consulting
    Incorporating your business
    Recovering losses from insurance companies
    & brokerage firms
    "Tax shelter analysis"
    "Pension plan reviews" & evaluations
    "419"& "412i" benefit plan analysis
    "419" & "412i plan" remediation
    Offshore tax shelter issues
    IRS "listed transactions" assistance

    Expert Witness Testimony For:
    * Taxes
    * Insurance & retirement plan cases
    * SSI & Disability Advocates


    Our consulting
    attorneys,
    CPAs & ex IRS
    agents
    have helped our
    clients
    save hundreds of
    thousands of
    dollars
    successfully
    defending them in
    lawsuits,
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    cutting IRS
    penalties.
    "America's leading Tax
    representing Firm "(TM)
    To Contact Mr. Wallach Click here
    Lance Wallach Managing Director

    516-938-5007 taxaudit419.com

    The Lance Wallach Network

    TaxAudit419.com ReportableTransactions Listed Transactions IRS6707Apenalty IRSform8886 TaxAdvisorExperts
    ExpertTaxAdvisors Taxlibrary.us
    If The IRS Contacts You...
    Lance Wallach


    Keep your mouth shut-take this advice seriously.

    If you give the agents any opening, you're dead.

    They'll start with soft background questions, but before you know it, will have trapped you. And many
    questions won't be genuine-that is, the agents already know the answers and are asking only to
    see if you will lie or confess.

    Questions typically asked by agents include:

    Have you reported all of your income?
    To Read More Click Link: If The IRS Contacts You...

    ReplyDelete
  76. Complaint Review: CJA Marketing
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    Able Translations and/or Able Transport Not paying their interpreters and translators Mississauga CanadaNationwide
    ilovebodykits.com Tried to rip me off Internet
    American Protection Corporation FLY BY NIGHT OPERATION. NON COMPLIANT > RIPOFF ALERT ! SCAM SCAM Coral Springs, Florida
    AMW International WF1, Chipio, FastWax, Smart Circle, Nascar Events & Promotions This company falls short after making claims of 6 figure incomes AMW international, chipio windshield repair, faxWax, NASCAR Rancho Cucamonga California
    Securiname Securiname, Snatcher, Pending Delete Dropcatching Software for Real-Time API Domain Name Registration | SECURINAME.com Pending Delete Dropcatching Software for Real-Time API Domain Name Registration | SECURINAME.com, As long as you've left your tab open, once the designated drop-time is reached, SECURINAME will automatically launch the dropcatcher within a modal window., Sch
    Web: Www.cjamarketing.com
    Category: Insurance Agencies
    CJA Marketing CJA and Associates Sold defective retirement plans costing us hundreds of thousands of dollars, Internet

    ReplyDelete
  77. IRS Attacks CJA & CJA and Associates’ plans




    Lance Wallach

    Our tax resolution offices have been alerted that taxpayers are starting to be contacted by the IRS concerning plans in connection with CJA & CJA and Associates. If you are in any type of benefit plan, a plan having insurance, 419 plan, 412i, 412(e)(3), 419e, Welfare benefit plans, Prepare Plan, Titanium, Section 79, Captive Insurance or other CJA plan contact our office immediately for assistance.

    www.taxaudit419.com

    www.vebaplan.org

    For more information and additional articles on these subjects, visit www.vebaplan.com, or call 516-938-5007





    http://lwallachcourtcase.blogspot.com/

    ReplyDelete
  78. IRS Attacks CJA & CJA and Associates’ plans




    Lance Wallach

    Our tax resolution offices have been alerted that taxpayers are starting to be contacted by the IRS concerning plans in connection with CJA & CJA and Associates. If you are in any type of benefit plan, a plan having insurance, 419 plan, 412i, 412(e)(3), 419e, Welfare benefit plans, Prepare Plan, Titanium, Section 79, Captive Insurance or other CJA plan contact our office immediately for assistance.

    www.taxaudit419.com

    www.vebaplan.org

    For more information and additional articles on these subjects, visit www.vebaplan.com, or call 516-938-5007





    http://lwallachcourtcase.blogspot.com/

    ReplyDelete
  79. IN THE UNITED STATES DISTRICT COURT
    FOR THE EASTERN DISTRICT OF PENNSYLVANIA
    JOHN J. KORESKO, V, et al.
    v.
    JEFF BLEIWEIS, et al.
    : CIVIL ACTION
    :
    : NO. 04-CV-769
    :
    :
    MEMORANDUM AND ORDER
    Kauffman, J. September 27, 2005
    Plaintiffs John Koresko, V (“Koresko”) and Pennmont Benefit Services, Inc.
    (“PennMont”) (collectively, “Plaintiffs”) bring this action for interference with present and
    prospective business and contractual relationships (Count One), misappropriation of trade secrets
    (Count Two), commercial disparagement (Count Four), and civil conspiracy (Count Five) against
    Defendants Jeff Bleiweis (“Bleiweis”), Raymond Ankner (“Ankner”), CJA and Associates
    (“CJA”), and the Travelers Life and Annuity Company (“Travelers”).1
    Now before the Court is
    the Motion to Dismiss of Bleiweis, Ankner and CJA (the “CJA Defendants”) for lack of personal
    jurisdiction pursuant to Fed. R. Civ. P. 12(b)(2). For the reasons that follow, the Motion will be
    denied.
    I. BACKGROUND
    PennMont is a Pennsylvania corporation that markets insurance products and pension
    programs for financial professionals and their clients. Plaintiffs’ First Amended Complaint
    (“Complaint”) at ¶ 5. Koresko is PennMont’s General Counsel. Id. at ¶ 4. CJA

    ReplyDelete
  80. http://www.hgexperts.com/
    Customer Login
    List Your Company
    FOLLOW US Google+


    By Lance Wallach, CLU, CHFC Abusive Tax Shelter, Listed Transaction, Reportable Transaction Expert Witness

    PhoneCall Lance Wallach at (516) 938-5007
    http://www.hgexperts.com/expert-witness.asp?id=54302
    Many life insurance companies are using captive insurance to alter their books and look better. This could lead to another taxpayer bailout and insurance companies being taken over. This would put benefits in policies at risk for some policyholders.
    By using a captive many insurance companies allow the companies to describe themselves as richer and stronger. This misleads regulators, the ratings agency and consumers who rely on rating. The NY insurance dept. said the insurance based in New York had burnished their books by $48 billion using captive insurance companies, often owned by the insurers.

    I have been writing about some problems with captives for years, and this is one of the problems. The use of a captive to mislead people is not what captives are for, but some of them do this.

    Insurance regulation is based on solvency. Because the transactions of using captives make companies look richer than they normally would be, so insurance companies are diverting reserves to other uses like executive compensation and stockholder dividends to try to raise the price of their stock. This is not a problem with mutual insurance companies where the insured’s are the stockholders.

    By using a captive and trying to hide the fact, some insurance companies artificially increase their risk based capital ratios. These ratios are an important measurement of solvency.

    Life insurer’s use of captive to shift obligations from their balance sheets has nearly doubled over the last few years. My concern is that the transactions of using captives do not accomplish the stated goal of transferring risk. Of course the insurance companies argue the opposite.

    Some of the largest life insurance groups are MetLife, ING, Prudential, A.I.G., AEGON, Hartford, Manulife, Lincoln National, and ASA.

    Insurance companies have been playing games for years. To sell more insurance many insurance companies have sold 419 and other plans that the IRS has called abusive transactions. Even after the IRS went after the buyers with large fines the insurance companies continued to sell life insurance inside of these plans. The also sold abusive 412i policies in the past with the same result. Now they are selling so called sections 79 plans which the IRS is looking at. As an expert witness in these types of cases my side has never lost a case.

    Using captives is just the latest plan that many insurance companies are now using to look better. The state of NY is trying to do something about this. Most other states have not yet taken notice.


    The information provided herein is not intended as legal, accounting, financial or any type of advice for any specific individual or other entity. You should contact an appropriate professional for any such advice.

    ABOUT THE AUTHOR: Lance Wallach
    Lance Wallach, National Society of Accountants Speaker of the Year and member of the AICPA faculty of teaching professionals, is a frequent speaker on retirement plans, abusive tax shelters, financial, international tax, and estate planning. He writes about 412(i), 419, Section79, FBAR, and captive insurance plans. He speaks at more than ten conventions annually, writes for over fifty publi

    ReplyDelete
  81. Don't Become A "Material Advisor"

    Lance Wallach Jan 10, 2012 | Comments (2)

    inShare
    44
    1
    Accountants, insurance professionals and others need to be careful that they don’t become what the IRS calls material advisors.
    If they sell or give advice, or sign tax returns for abusive, listed or similar plans; they risk a minimum $100,000 fine. They will then probably be sued by their client, when the IRS finishes with their client
    In 2010, the IRS raided the offices of Benistar in Simsbury, Conn., and seized the retirement benefit plan administration firm’s files and records. In McGehee Family Clinic, the Tax Court ruled that a clinic and shareholder’s investment in an employee benefit plan marketed under the name “Benistar” was a listed transaction because it was substantially similar to the transaction described in Notice 95-34 (1995-1 C.B. 309). This is at least the second case in which the court has ruled against the Benistar welfare benefit plan, by denominating it a listed transaction.

    The McGehee Family Clinic enrolled in the Benistar Plan in May 2001 and claimed deductions for contributions to it in 2002 and 2005. The returns did not include a Form 8886, Reportable Transaction Disclosure Statement, or similar disclosure. The IRS disallowed the latter deduction and adjusted the 2004 return of shareholder Robert Prosser and his wife to include the $50,000 payment to the plan.
    The IRS assessed tax deficiencies and the enhanced 30 percent penalty under Section 6662A, totaling almost $21,000, against the clinic and $21,000 against the Prossers. The court ruled that the Prossers failed to prove a reasonable cause or good faith exception.
    In rendering its decision, the court cited Curcio v. Commissioner, in which the court also ruled in favor of the IRS. As noted in Curcio, the insurance policies, which were overwhelmingly variable or universal life policies, required large contributions relative to the cost of the amount of term insurance that would be required to provide the death benefits under the arrangement. The Benistar Plan owned the insurance contracts. The excessive cost of providing death benefits was a reason for the court’s finding in Curcio that tax deductions had been properly disallowed.

    ReplyDelete
  82. urts & the 50 US State Supreme Courts and Weekly Practice Area Opinion Summaries Newsletters. Subscribe Now
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    Kinsale Insurance Company v. CJA and Associates, Inc. et al We have downloadable decisions or orders for this case
    Filed: November 14, 2013 as 3:2013cv05303
    Defendant: Maurine Hagan, Kent W. Hagan, CJA and Associates, Inc. and others
    Plaintiff: Kinsale Insurance Company
    Cause Of Action: Diversity-Injunctive & Declaratory Relief

    ReplyDelete
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    IRS Attacks CJA & CJA and Associates’ plans




    Lance Wallach

    Our tax resolution offices have been alerted that taxpayers are starting to be contacted by the IRS concerning plans in connection with CJA & CJA and Associates. If you are in any type of benefit plan, a plan having insurance, 419 plan, 412i, 412(e)(3), 419e, Welfare benefit plans, Prepare Plan, Titanium, Section 79, Captive Insurance or other CJA plan contact our office immediately for assistance.

    www.taxaudit419.com

    www.vebaplan.org

    For more information and additional articles on these subjects, visit www.vebaplan.com, or call 516-938-5007

    ReplyDelete
  84. announced that today it filed a class action lawsuit against Chicago-based CJA and Associates and Kansas City, Missouri-based Fidelity Security Life Insurance Company (FSL). The lawsuit alleges that CJA and FSL breached fiduciary duties in duping small business owners into investing millions of dollars of employee retirement benefit money in FSL annuities when up to 95% of the initial money invested was being siphoned off in commissions and fees. The so-called Section 412 (e)(3) plans are under attack from the IRS as illegitimate attempts to avoid federal taxes. The lawsuit alleges that by advising investment in these plans CJA and FSL breached federal laws governing advice given to employee benefit plans.

    Purchasers of CJA or FSL Section 412 (e)(3) plans are encouraged to contact Moukawsher & Walsh, LLC for information concerning the litigation.

    ReplyDelete
  85. Answer. Yes. We have knowledge of many different welfare benefit plans and experience in representing taxpayers who participate in those plans before the IRS. A sampling of the plans that we know well include:

    Millennium Plan
    Insured Security Plan
    Corporate Benefit Services Plan
    Sea Nine Associates VEBA
    Niche National Benefit Plans
    Professional Benefit Trust (PBT)
    Koresko STEP Plan
    Bisys Plan
    Xelan Plan
    Sterling Plan

    ReplyDelete
  86. uling Permits 412(i) Lawsuit to Proceed in Federal Court under
    ERISA
    Major References: Ehlen Floor Covering, Inc. v. Lamb et al., 2:07-cv-00666, (11th Cir. Oct.
    18, 2011)
    Prior AALU Washington Reports: 11-28, 09-95, 06-42, 04-29, 04-28

    MDRT Information Retrieval Index Nos.: 5400, 6510, 7400

    SEE THE CIRCULAR 230 DISCLAIMERS APPENDED TO
    THE CONCLUSION OF THIS WASHINGTON REPORT.
    The 11th
    Circuit has ruled in Ehlen Floor Covering, Inc. v. Lamb et al. that the
    plaintiffs’ claims alleging, among other things, negligence, misrepresentation and
    breaches of fiduciary duties relating to the implementation, adoption and
    administration of a 412(i) plan should proceed in federal court under ERISA, rather
    than in state court.

    In Ehlen, the plaintiffs include the plan sponsor (Ehlen Floor Covering, Inc. or “Ehlen Floor
    Covering”), fiduciaries and participants, and the plan itself (Ehlen Floor Coverings Retirement Plan) (the
    “Plan”). The plaintiffs are suing the advisors and administrators associated with the design,
    implementation, and administration of the Plan 412(i) defined benefit plan. Such a plan, as AALU
    members know, provides an exemption from the normal funding rules for defined benefit pension plans
    funded with insurance contracts, if certain requirements specified under that section are satisfied. (Note
    that the Pension Protection Act of 2006 amended section 412(i) and relocated it to section 412(e)(3)).

    According to the complaint, the defendants recommended the adoption of a 412(i) plan specifically
    designed by Pacific Life Insurance Company ("Pacific Life") and The Graduate Group, Inc. ("TGG").

    ReplyDelete
  87. Contact Information
    Email :
    LanWalla@aol.com
    Phone :
    516-983-5007
    Address :
    Lance Wallach
    www.Vebaplan.org
    www.Benistarabuses.com
    By Lance Wallach, California Broker Mag
    The IRS has been attacking all 419 welfare benefit plans, many 412i retirement plans, captive insurance plans with life insurance in them, and Section 79 plans. The IRS is aggressively auditing various plans and calling them 'listed transactions' 'abusive tax shelters,' or 'reportable transactions,'participation in any of which must be disclosed to the Service. The result has been IRS audits, disallowances, and huge fines for not properly reporting under IRC 6707A.
    In a recent tax court case, Curico v. Commissioner (TC Memo 2010-115), the Tax Court ruled that an investment in an employee welfare benefit plan marketed under the name 'Benistar' was a listed transaction. Taxpayers and their representatives should be aware that the Service has disallowed deductions for contributions to these arrangements. The IRS is cracking down on small business owners who participate in tax reduction insurance plans and the brokers who sold them. For help with these issues visit www.taxaudit419.com

    ReplyDelete
  88. Help with Common IRS Problems

    Thursday, June 26, 2014

    419 and 412 Plan Fraud
    You think you know what you are getting when you buy an insurance plan, but what do you do when you find out that your plan does not work they way you thought?

    If you have been misled by your insurance broker, you may have been the victim of fraud. We protect the rights of the victims of 419 and 412 plan fraud.
    · Have you purchased an IRC 419 Employee Welfare Benefit Plan after being told the contributions were fully deductible from federal and state income taxes, only to find out that this was not the case?
    · Did you purchase a trust you may not have needed, funded with substantial amounts of life insurance because you were told you could build up cash value tax-free and then have use of the funds tax-free?
    If you have been misled about information regarding your employee welfare benefits, you may have been the victim of 419 and 412 plan fraud.
    When consumers are misled and given false information by insurance brokers, they have the right to sue the fraudulent agents and insurance company that sold the plan.

    The information provided herein is not intended as legal, accounting, financial or any other type of advice for any specific individual or other entity. You should contact an appropriate professional for any such advice.

    ABOUT THE AUTHOR: Lance Wallach
    Lance Wallach, CLU, ChFC, CIMC, speaks and writes extensively about financial planning, retirement plans, and tax reduction strategies. He is an American Institute of CPA’s course developer and instructor and has authored numerous best selling books about abusive tax shelters, IRS crackdowns and attacks and other tax matters. He speaks at more than 20 national conventions annually and writes for more than 50 national publications.

    Copyright Lance Wallach, CLU, CHFC
    More information about Lance Wallach, CLU, CHFC

    ReplyDelete
  89. What is a 412(i) plan?
    A 412(i) plan is a defined benefit pension plan used by small business owners. It can only be funded by insurance companies through fully guaranteed annuities or a combination of annuities and life insurance. These plans are tax qualified, meaning that any amount the owner contributes to the plan is immediately available as a tax deduction. When reviewed by an experienced 412(i) plan attorney, these plans can benefit small business owners who need to invest in their company while also saving for retirement.

    Consumers lose benefits because of insurance company scams
    Scams involving 412(i) plans have been prevalent since insurance companies first began marketing the plans. Pension plan promoters misled consumers by inaccurately marketing the plans as legitimate tax-deductible retirement plans with the following benefits:

    Tax deferred earnings
    Larger contributions than traditional plans
    Availability of short-term tax-free loans against the policy
    Only a five year commitment to the plan
    By manipulating the plans so that consumers could make large contributions, promoters and insurance agents shared in extremely high commissions. In addition, promoters failed to comply with non-discrimination laws by promoting the plans only to the highest compensated employees. Despite regulations, insurers ensured that the plans were funded entirely by certain types of life insurance policies. This allowed them to defraud the IRS of income tax, because the type of insurance policy allowed removal of a large portion of the funds in the plan on a pre-tax basis. In response to these scams, the IRS made 412(i) transaction reportable transactions, requiring consumers who had a 412(i) plan to report this fact to the IRS.

    Helping victims of pension fraud recover for their losses
    An experienced 412(i) plan fraud protection

    ReplyDelete
  90. The Offices of Lance Wallach :
    "America's leading Financial
    Services firm "(TM)
    Lance Wallach,
    Managing Director

    Financial Planning
    Divison

    Call us today:
    516-938-5007

    Email us at:
    LanWalla@aol.com
    The Lance Wallach advantage is credibility, experience & trust !!

    Many advisory firms offer financial planning and investment services,
    but the difference is that Lance Wallach wrote the books on Life
    Insurance, Financial & Estate planning that the other consultants
    learned from!

    If you want to sleep soundly at night, don't go to the students for your
    financial answers, go to the one who teaches them, Lance Wallach!

    For the past 25 years, successful businesses and individuals have
    turned to Lance Wallach and his team for assistance, and they are
    glad they did!
    Life Insurance & Financial Planning

    When you choose the
    Lance Wallach team, you
    are on the winning team !
    Copyright (C) 2009 Lance Wallach
    All rights reserved

    Lance Wallach, Managing Director, is the nation's
    leading expert on life insurance, annuities,
    retirement & financial planning for business
    executives, sports figures, entertainers, affluent
    families and successful entrepreneurs.

    Mr. Wallach is a member of the AICPA faculty of
    teaching professionals, a frequent keynote speaker
    at business conventions, a best selling financial
    author, and a renowned national financial expert in
    many court cases.

    Some of Mr. Wallach best selling financial & law
    books are:

    * "Wealth Preservation Planning" by the National
    Society of Accountants

    * "The CPA's Guide to Federal & Estate Gift
    Taxation" published by Bisk

    * The AICPA's "The team approach to Tax,
    Financial & Estate planning."

    * "The CPA's Guide to Life Insurance" by Bisk
    CPEasy

    * Avoiding Circular 230 Malpractice Traps and
    Common Abusive Small Businesss Hot spots by
    the AICPA, author/moderator Lance Wallach

    ReplyDelete
  91. es of "Lance Wallach"e for the new program is the same for 2011, except for taxpayers in the highest penalty category.
    aking news: Large 419 plan Millennium files for
    Bankruptcy.

    Recent court cases and other developments have highlighted serious problems in plans, popularly know as
    Benistar, issued by Nova Benefit Plans of Simsbury, Connecticut. Recently unsealed IRS criminal case
    information now raises concerns with other plans as well. If you have any type plan issued by NOVA Benefit
    Plans, U.S. Benefits Group, Benefit Plan Advisors, Grist Mill trusts, Rex Insurance Service or , get help
    at once. You may be subject to an audit or in some cases, criminal prosecution.

    On November 17th, 59 pages of search warrant materials were unsealed in the Nova Benefit Plans litigation
    currently pending in the U.S. District Court for the District of Connecticut. According to these documents, the IRS believes that Nova is involved in a significant criminal conspiracy involving the crimes of Conspiracy to Impede the IRS and Assisting in the Preparation of False Income Tax Returns. Read more here.



    California Broker June 2011

    ReplyDelete
  92. Treasury and IRS Shut Down Abusive Life Insurance Policies in Retirement Plans
    In 2004, the Treasury Department and the Internal Revenue Service issued guidance to shut down abusive transactions involving specially designed life insurance policies in retirement plans, section “412(i) plans.” The guidance designates certain arrangements as “listed transactions” for tax-shelter reporting purposes.

    A “section 412(i) plan” is a tax-qualified retirement plan that is funded entirely by a life insurance contract or an annuity. The employer claims tax deductions for contributions that are used by the plan to pay premiums on an insurance contract covering an employee. The plan may hold the contract until the employee dies, or it may distribute or sell the contract to the employee at a specific point, such as when the employee retires.

    “The guidance targets specific abuses occurring with section 412(i) plans,” stated Assistant Secretary for Tax Policy Pam Olson. “There are many legitimate section 412(i) plans, but some push the envelope, claiming tax results for employees and employers that do not reflect the underlying economics of the arrangements.”

    “Again and again, we’ve uncovered abusive tax avoidance transactions that game the system to the detriment of those who play by the rules,” said IRS Commissioner Mark W. Everson. “Today’s action sends a strong signal to those taking advantage of certain insurance policies that these abusive schemes must stop.”

    http://www.irs.gov/uac/Treasury-and-IRS-Shut-Down-Abusive-Life-Insurance-Policies-in-Retirement-Plans

    ReplyDelete
  93. Complaints
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    CJA And Associates - PRESIDENT

    1 of 2 Cja And Associates Reviews
    119
    VIEWS
    8
    COMMENTS Naples, Florida Financial Scams and Schemes Insurance Fraud Negligence
    Jul 05, 2013 review #426316 by anonymous

    CJA SOLD US DEFECTIVE EMPLOYEE BENEFIT PLANS COSTING US HUNDREDS

    OF THOUSANDS OF DOLLARS AND IRS AUDITS AND PENALTIES

    ALL WHILE CJA WALKED AWAY WITH HUNDREDS OF THOUSANDS OF OUR DOLLARS IN COMMISSIONS

    ALSO THE INSURANCE COMPANY FIDELITY SECURITY LIFE INSURANCE IS PART OF THIS SCHEME TO DEFRAUD COMPANIES OUT OF MILLIONS OF DOLLARS

    THE IRS GOT LIST OF ALL OF CJA CUSTOMERS AND CAME AFTER THEM WITH AUDITS AND HUGE FINES, CJA HAS DONE NOTHING TO RECTIFY THEIR MISTAKE AND REFUSES TO GIVE BACK ANY MONEY OR ANY OF THE COMMISSIONS THEY TOOK AT THEIR CUSTOMERS EXPENSE AND EXPOSURE TO HUNDREDES OF THOUSANDS OF IRS PENALTIES
    a5bb59f
    TRUST FRAUD 1
    Report I had the same issue 2 Add comment
    Was this review helpful? 3 3
    Had an experience with CJA And Associates? Submit review ›
    Is this your company? Learn about our business solutions ›



    Post Comment
    Anonymous
    Anonymous Mar 13 New York City, New York


    Raymond Ankner -Expected to be the biggest life insurance failure in Illinois
    Raymond Ankner -Expected to be the biggest life insurance failure in Illinois : IRS Attacks CJA & CJA and Associates’ plans, 412i, 419e plans litigation and IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.Benistar,412i Lawsuits,419 lawsuits,412i Help,419 Help, IRS Audits,412i Problems,412i problems, Expert Witness Lance Wallach,412i Help,419 Help, Benistar Lawsuits, 412i lawsuits,419 lawsuits,
    Saturday, November 30, 2013
    Tax Crimes - Is the IRS Coming to Get You? Lance Wallach, expert witness.
    People who have money in other countries are a target of the IRS. I get a lot of phone calls with people who have these problems. 419, 412i, hiding money offshore etc. The IRS may be looking for you if you had anything to do with this. Tax crime attacks by the IRS are up almost 50% so you need to be careful. Last year IRS raided the offices of Benistar, Grist Mill Trust, Nova with about 50 agents and took all the files. If you did business with them the IRS will probably come to you. The numbers are out and they aren’t good for people convicted of tax crimes. While the U.S. Department of Justice Tax Division has always enjoyed a very high conviction rate, many people convicted of tax crimes never went to jail. Not anymore. In 2001, the average tax offender received a sentence of 18 months. Now those sentences average 25 months. The... Show more

    0 0 Reply
    Anonymous
    Anonymous › Anonymous Apr 01 Austin, Texas


    Class Action Filed against CJA and Associates and Fidelity ...
    www.lawyersandsettlements.com/lawsuit/CJA-FSL-Class-Action.html - Similarto Class Action Filed against CJA and Associates and Fidelity ...
    Aug 2, 2012 ... Class Action Filed against CJA and Associates and Fidelity Security Life. Hartford , CT: A consumer fraud class action lawsuit has been filed ...
    Ch 2: Appointment and Payment of Counsel - U.S. Courts
    www.uscourts.gov/FederalCourts/AppointmentOfCounsel/CJAGuidelinesFor... - Similarto Ch 2: Appointment and Payment of Counsel - U.S. Courts Part A Guidelines for Administering the CJA and Related Statutes ...... counsel who is not a partner or associate, within the maximum compensation allowed by ... [PDF] Plaintiffs' First Amended Complaint omit... https://www.paed.uscourts.gov/documents/opinions/05D1211P.pdf Sep 27, 2005 ... (“CJA”), and the Travelers Life and Annuity Company (“Travelers”).1 Now ... when [she] came across CJA and Associates as a provider” of ... [ More results from www.paed.uscourts.gov ]

    ReplyDelete
  94. Complaints
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    CJA And Associates - PRESIDENT

    1 of 2 Cja And Associates Reviews
    119
    VIEWS
    8
    COMMENTS Naples, Florida Financial Scams and Schemes Insurance Fraud Negligence
    Jul 05, 2013 review #426316 by anonymous

    CJA SOLD US DEFECTIVE EMPLOYEE BENEFIT PLANS COSTING US HUNDREDS

    OF THOUSANDS OF DOLLARS AND IRS AUDITS AND PENALTIES

    ALL WHILE CJA WALKED AWAY WITH HUNDREDS OF THOUSANDS OF OUR DOLLARS IN COMMISSIONS

    ALSO THE INSURANCE COMPANY FIDELITY SECURITY LIFE INSURANCE IS PART OF THIS SCHEME TO DEFRAUD COMPANIES OUT OF MILLIONS OF DOLLARS

    THE IRS GOT LIST OF ALL OF CJA CUSTOMERS AND CAME AFTER THEM WITH AUDITS AND HUGE FINES, CJA HAS DONE NOTHING TO RECTIFY THEIR MISTAKE AND REFUSES TO GIVE BACK ANY MONEY OR ANY OF THE COMMISSIONS THEY TOOK AT THEIR CUSTOMERS EXPENSE AND EXPOSURE TO HUNDREDES OF THOUSANDS OF IRS PENALTIES
    a5bb59f
    TRUST FRAUD 1
    Report I had the same issue 2 Add comment
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    Anonymous
    Anonymous Mar 13 New York City, New York


    Raymond Ankner -Expected to be the biggest life insurance failure in Illinois
    Raymond Ankner -Expected to be the biggest life insurance failure in Illinois : IRS Attacks CJA & CJA and Associates’ plans, 412i, 419e plans litigation and IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.Benistar,412i Lawsuits,419 lawsuits,412i Help,419 Help, IRS Audits,412i Problems,412i problems, Expert Witness Lance Wallach,412i Help,419 Help, Benistar Lawsuits, 412i lawsuits,419 lawsuits,
    Saturday, November 30, 2013
    Tax Crimes - Is the IRS Coming to Get You? Lance Wallach, expert witness.
    People who have money in other countries are a target of the IRS. I get a lot of phone calls with people who have these problems. 419, 412i, hiding money offshore etc. The IRS may be looking for you if you had anything to do with this. Tax crime attacks by the IRS are up almost 50% so you need to be careful. Last year IRS raided the offices of Benistar, Grist Mill Trust, Nova with about 50 agents and took all the files. If you did business with them the IRS will probably come to you. The numbers are out and they aren’t good for people convicted of tax crimes. While the U.S. Department of Justice Tax Division has always enjoyed a very high conviction rate, many people convicted of tax crimes never went to jail. Not anymore. In 2001, the average tax offender received a sentence of 18 months. Now those sentences average 25 months. The... Show more

    0 0 Reply
    Anonymous
    Anonymous › Anonymous Apr 01 Austin, Texas


    Class Action Filed against CJA and Associates and Fidelity ...
    www.lawyersandsettlements.com/lawsuit/CJA-FSL-Class-Action.html - Similarto Class Action Filed against CJA and Associates and Fidelity ...
    Aug 2, 2012 ... Class Action Filed against CJA and Associates and Fidelity Security Life. Hartford , CT: A consumer fraud class action lawsuit has been filed ...
    Ch 2: Appointment and Payment of Counsel - U.S. Courts
    www.uscourts.gov/FederalCourts/AppointmentOfCounsel/CJAGuidelinesFor... - Similarto Ch 2: Appointment and Payment of Counsel - U.S. Courts Part A Guidelines for Administering the CJA and Related Statutes ...... counsel who is not a partner or associate, within the maximum compensation allowed by ... [PDF] Plaintiffs' First Amended Complaint omit... https://www.paed.uscourts.gov/documents/opinions/05D1211P.pdf Sep 27, 2005 ... (“CJA”), and the Travelers Life and Annuity Company (“Travelers”).1 Now ... when [she] came across CJA and Associates as a provider” of ... [ More results from www.paed.uscourts.gov ]

    ReplyDelete
  95. announced that today it filed a class action lawsuit against Chicago-based CJA and Associates and Kansas City, Missouri-based Fidelity Security Life Insurance Company (FSL). The lawsuit alleges that CJA and FSL breached fiduciary duties in duping small business owners into investing millions of dollars of employee retirement benefit money in FSL annuities when up to 95% of the initial money invested was being siphoned off in commissions and fees. The so-called Section 412 (e)(3) plans are under attack from the IRS as illegitimate attempts to avoid federal taxes. The lawsuit alleges that by advising investment in these plans CJA and FSL breached federal laws governing advice given to employee benefit plans.

    Purchasers of CJA or FSL Section 412 (e)(3) plans are encouraged

    ReplyDelete
    Replies
    1. Kinsale Insurance Company v. CJA and Associates, Inc. et al

      Defendant: Maurine Hagan, Kent W. Hagan, CJA and Associates, Inc., Hagan & Hagan and Hagan Chiropractic, Inc.
      Plaintiff: Kinsale Insurance Company
      Case Number: 3:2013cv05303
      Filed: November 14, 2013
      Court: California Northern District Court
      Office: San Francisco Office

      Delete
    2. Kinsale Insurance Company v. CJA and Associates, Inc. et al

      Defendant: Maurine Hagan, Kent W. Hagan, CJA and Associates, Inc., Hagan & Hagan and Hagan Chiropractic, Inc.
      Plaintiff: Kinsale Insurance Company
      Case Number: 3:2013cv05303
      Filed: November 14, 2013
      Court: California Northern District Court
      Office: San Francisco Office

      Delete
  96. HARTFORD, Conn.--(BUSINESS WIRE)--Moukawsher & Walsh, LLC announced that today it filed a class action lawsuit against Chicago-based CJA and Associates and Kansas City, Missouri-based Fidelity Security Life Insurance Company (FSL). The lawsuit alleges that CJA and FSL breached fiduciary duties in duping small business owners into investing millions of dollars of employee retirement benefit money in FSL annuities when up to 95% of the initial money invested was being siphoned off in commissions and fees. The so-called Section 412 (e)(3) plans are under attack from the IRS as illegitimate attempts to avoid federal taxes. The lawsuit alleges that by advising investment in these plans CJA and FSL breached federal laws governing advice given to employee benefit plans.

    Purchasers of CJA or FSL Section 412 (e)(3) plans are encouraged to contact

    ReplyDelete
  97. On December 21, 2007, J & M Associates Inc. ("J & M") brought a lawsuit against Mark C. Callahan d/b/a Callahan Financial Solutions, Lalat Pattanaik d/b/a I.P.S. Private Advisors, Brady Richardson d/b/a Richardson Consultants, J. Michael Mangawang, Fredrick A. Romero, and American General Life Insurance Company ("AIG") alleging breach of contract, negligence, wantonness, fraud, fraudulent concealment, and civil conspiracy relating to J & M's enrollment in a welfare benefit plan that ultimately led to "huge tax liability and penalties." (Doc. 1). On April 3, 2010, this court entered default against Brady Richardson d/b/a Richardson Consultants, J. Michael Mangawang, and Fredrick A. Romero for failure to plead or otherwise defend the action. (Doc. 47). On June 15, 2010, Mark Callahan d/b/a Callahan Financial Solutions, Lalat Pattanaik d/b/a I.P.S. Private Advisors, and Brady Richardson d/b/a Richardson Consultants were dismissed with prejudice. (Docs. 148, 153, & 154). This matter is now before the court on AIG's amended motion for summary judgment (Doc. 159), J & M's response (Doc. 170), AIG's reply (Doc. 192), and J & M's supplemental brief (Doc. 197).1

    ReplyDelete
  98. On December 21, 2007, J & M Associates Inc. ("J & M") brought a lawsuit against Mark C. Callahan d/b/a Callahan Financial Solutions, Lalat Pattanaik d/b/a I.P.S. Private Advisors, Brady Richardson d/b/a Richardson Consultants, J. Michael Mangawang, Fredrick A. Romero, and American General Life Insurance Company ("AIG") alleging breach of contract, negligence, wantonness, fraud, fraudulent concealment, and civil conspiracy relating to J & M's enrollment in a welfare benefit plan that ultimately led to "huge tax liability and penalties." (Doc. 1). On April 3, 2010, this court entered default against Brady Richardson d/b/a Richardson Consultants, J. Michael Mangawang, and Fredrick A. Romero for failure to plead or otherwise defend the action. (Doc. 47). On June 15, 2010, Mark Callahan d/b/a Callahan Financial Solutions, Lalat Pattanaik d/b/a I.P.S. Private Advisors, and Brady Richardson d/b/a Richardson Consultants were dismissed with prejudice. (Docs. 148, 153, & 154). This matter is now before the court on AIG's amended motion for summary judgment (Doc. 159), J & M's response (Doc. 170), AIG's reply (Doc. 192), and J & M's supplemental brief (Doc. 197).1

    ReplyDelete
  99. Even as the Internal Revenue Service and some state and federal regulators increase their scrutiny of captive financial arrangements, Harwick noted that “captives are not a hidden device. They are not an offshore secret bank account. … They are visible, regulated companies.”

    Advertisement



    Two of the main issues drawing attention are the improper use of IRS section 831(b) – which allows underwriting profits of captives with at least $1.2 million in premiums to be tax free – and the use of captives by commercial insurers for reinsurance.

    ReplyDelete
  100. Even as the Internal Revenue Service and some state and federal regulators increase their scrutiny of captive financial arrangements, Harwick noted that “captives are not a hidden device. They are not an offshore secret bank account. … They are visible, regulated companies.”

    Advertisement



    Two of the main issues drawing attention are the improper use of IRS section 831(b) – which allows underwriting profits of captives with at least $1.2 million in premiums to be tax free – and the use of captives by commercial insurers for reinsurance.

    ReplyDelete


  101. For the past 25 years, successful businesses and individuals have turned to Lance Wallach
    and his team for assistance, and they are glad they did!
    Winning Team
    When you choose the
    Lance Wallach team, you
    are on the winning team !
    Lance Wallach Managing Director
    Lance Wallach, Managing Director, is the nations leading expert on life insurance, annuities,
    retirement & financial planning for business executives, sports figures, entertainers, affluent families
    and successful entrepreneurs.

    Mr. Wallach is a member of the AICPA faculty of teaching professionals, a frequent keynote speaker
    at business conventions, a best selling financial author, and a renowned national financial expert in
    many court cases.

    Some of Mr. Wallach best selling financial & law books are:

    * "Wealth Preservation Planning" by the National Society of Accountants

    * "The CPA's Guide to Federal & Estate Gift Taxation" published by Bisk

    * The AICPA's "The team approach to Tax, Financial & Estate planning."

    * "The CPA's Guide to Life Insurance" by Bisk CPEasy

    * Avoiding Circular 230 Malpractice Traps and Common Abusive Small Businesss Hot spots by the
    AICPA, author/moderator Lance Wallach

    ReplyDelete


  102. For the past 25 years, successful businesses and individuals have turned to Lance Wallach
    and his team for assistance, and they are glad they did!
    Winning Team
    When you choose the
    Lance Wallach team, you
    are on the winning team !
    Lance Wallach Managing Director
    Lance Wallach, Managing Director, is the nations leading expert on life insurance, annuities,
    retirement & financial planning for business executives, sports figures, entertainers, affluent families
    and successful entrepreneurs.

    Mr. Wallach is a member of the AICPA faculty of teaching professionals, a frequent keynote speaker
    at business conventions, a best selling financial author, and a renowned national financial expert in
    many court cases.

    Some of Mr. Wallach best selling financial & law books are:

    * "Wealth Preservation Planning" by the National Society of Accountants

    * "The CPA's Guide to Federal & Estate Gift Taxation" published by Bisk

    * The AICPA's "The team approach to Tax, Financial & Estate planning."

    * "The CPA's Guide to Life Insurance" by Bisk CPEasy

    * Avoiding Circular 230 Malpractice Traps and Common Abusive Small Businesss Hot spots by the
    AICPA, author/moderator Lance Wallach

    ReplyDelete
  103. Recent IRS Developments Affecting VEBAs and Group
    Term Life Insurance Plans
    The IRS recently released two pieces of guidance that address issues you may have struggled
    with if your company funds retiree medical benefits through a VEBA (voluntary employees’
    beneficiary association described in Section 501(c)(9) of the Internal Revenue Code of 1986
    (“Code”)) or provides optional employee-pay-all group term life insurance. In both areas,
    the rules are quite arcane and non-intuitive – we make an effort to cut through the
    complexity below.
    I. Proposed Rules on Unrelated Business Taxable Income (“UBTI”) of VEBAs
    In 1984, Congress enacted complex rules limiting deductions for employer contributions to
    VEBAs and imposing a new unrelated business tax scheme on asset accumulations that
    exceed certain limits. IRS and Treasury issued limited temporary/proposed rules on the new
    scheme early in 1986, but have provided minimal published guidance ever since then.
    Almost 28 years later to the day, IRS has released some new proposed rules (which would
    revoke the old ones) affecting a handful of issues that have arisen. 79 Fed. Reg. 7110 (Feb.
    6, 2014).
    Calculating UBTI on Retiree Medical Reserve Accounts – The intent of the 1984 legislation
    was to tax income on VEBA reserves set aside to pay post-retirement medical benefits
    (except for collectively bargained arrangements) as UBTI. Under the previous guidance, the
    UBTI of a VEBA generally is the lesser of two amounts: (1) the investment income of the
    VEBA for the taxable year (excluding member contributions), or (2) the excess of the total
    amount set aside as of the close of taxable year (including member contributions and
    excluding certain long-term assets) over the Code section 419A qualified asset account limit
    (calculated without regard to the otherwise permitted reserve for post-retirement medical
    benefits) for the taxable year. Temp. Treas. Reg. Sec. 1.512(a)-5T. Since, for UBTI purposes,
    the qualified asset account limit for retiree medical pre-funding is zero, this generally makes
    all investment income of a VEBA that provides post-retirement medical benefits taxable at
    the trust level. (This result also applies to retiree medical reserves funded through insurance
    company accounts where the employer generally is subject to the tax.)
    In 2003, the Sixth Circuit held that investment income that the taxpayer VEBA had
    earmarked and claimed it had spent before year-end to pay retiree medical benefits and the
    reasonable costs of administration was not subject to the above-described scheme.
    Sherwin-Williams Co. Employee Health Plan Trust v. Comm’r, 330 F.3d 449 (6th Cir. 2003),
    rev’g, 115 T.C. 440 (2000). The taxpayer victory was relatively short-lived, however (except
    in the Sixth Circuit), since the IRS later won two Federal Circuit rulings rejecting that position.

    ReplyDelete
  104. Recent IRS Developments Affecting VEBAs and Group
    Term Life Insurance Plans
    The IRS recently released two pieces of guidance that address issues you may have struggled
    with if your company funds retiree medical benefits through a VEBA (voluntary employees’
    beneficiary association described in Section 501(c)(9) of the Internal Revenue Code of 1986
    (“Code”)) or provides optional employee-pay-all group term life insurance. In both areas,
    the rules are quite arcane and non-intuitive – we make an effort to cut through the
    complexity below.
    I. Proposed Rules on Unrelated Business Taxable Income (“UBTI”) of VEBAs
    In 1984, Congress enacted complex rules limiting deductions for employer contributions to
    VEBAs and imposing a new unrelated business tax scheme on asset accumulations that
    exceed certain limits. IRS and Treasury issued limited temporary/proposed rules on the new
    scheme early in 1986, but have provided minimal published guidance ever since then.
    Almost 28 years later to the day, IRS has released some new proposed rules (which would
    revoke the old ones) affecting a handful of issues that have arisen. 79 Fed. Reg. 7110 (Feb.
    6, 2014).
    Calculating UBTI on Retiree Medical Reserve Accounts – The intent of the 1984 legislation
    was to tax income on VEBA reserves set aside to pay post-retirement medical benefits
    (except for collectively bargained arrangements) as UBTI. Under the previous guidance, the
    UBTI of a VEBA generally is the lesser of two amounts: (1) the investment income of the
    VEBA for the taxable year (excluding member contributions), or (2) the excess of the total
    amount set aside as of the close of taxable year (including member contributions and
    excluding certain long-term assets) over the Code section 419A qualified asset account limit
    (calculated without regard to the otherwise permitted reserve for post-retirement medical
    benefits) for the taxable year. Temp. Treas. Reg. Sec. 1.512(a)-5T. Since, for UBTI purposes,
    the qualified asset account limit for retiree medical pre-funding is zero, this generally makes
    all investment income of a VEBA that provides post-retirement medical benefits taxable at
    the trust level. (This result also applies to retiree medical reserves funded through insurance
    company accounts where the employer generally is subject to the tax.)
    In 2003, the Sixth Circuit held that investment income that the taxpayer VEBA had
    earmarked and claimed it had spent before year-end to pay retiree medical benefits and the
    reasonable costs of administration was not subject to the above-described scheme.
    Sherwin-Williams Co. Employee Health Plan Trust v. Comm’r, 330 F.3d 449 (6th Cir. 2003),
    rev’g, 115 T.C. 440 (2000). The taxpayer victory was relatively short-lived, however (except
    in the Sixth Circuit), since the IRS later won two Federal Circuit rulings rejecting that position.

    ReplyDelete
  105. An Expert Discusses Section 79 and Listed Transactions


    The dangers of being "listed" the contemplation of a "tax consequence" of the plan strategy. Also, many
    taxpayers who no longer make contributions or claim tax deductions continue to pay administrative fees. Sometimes, money is
    taken from the plan to pay premiums to keep life insurance policies in force. In these ways, it could be argued that these
    taxpayers are still "contributing", and thus still must file Form 8886.

    It is clear that the extent to which a taxpayer benefits from the transaction depends on the purpose of a particular transaction as
    described in the published guidance that caused such transaction to be a listed transaction. Revenue Ruling 2004-20 which
    classifies 419(e) transactions, appears to be concerned with the employer's contribution/deduction amount rather than the
    continued deferral of the income in previous years. This language may provide the taxpayer with a solid argument in the e

    ReplyDelete
  106. An Expert Discusses Section 79 and Listed Transactions


    The dangers of being "listed" the contemplation of a "tax consequence" of the plan strategy. Also, many
    taxpayers who no longer make contributions or claim tax deductions continue to pay administrative fees. Sometimes, money is
    taken from the plan to pay premiums to keep life insurance policies in force. In these ways, it could be argued that these
    taxpayers are still "contributing", and thus still must file Form 8886.

    It is clear that the extent to which a taxpayer benefits from the transaction depends on the purpose of a particular transaction as
    described in the published guidance that caused such transaction to be a listed transaction. Revenue Ruling 2004-20 which
    classifies 419(e) transactions, appears to be concerned with the employer's contribution/deduction amount rather than the
    continued deferral of the income in previous years. This language may provide the taxpayer with a solid argument in the e

    ReplyDelete
  107. Company Details

    sea nine veba 419 IRS audits lawsuits
    sea nine veba 419 IRS audits lawsuits logo
    sea nine veba 419 IRS audits lawsuits Summary
    Information about sea nine veba 419 IRS audits lawsuits was first submitted to Scambook on Dec 06, 2012. Since then the page has accumulated 0 consumer complaints. On average users reported

    ReplyDelete
  108. FEDERAL COURT FINDS PREPARE PLAN TO BE SUBSTANTIALLY SIMILAR TO NOTICE 95-34

    05 / 21 / 2015

    Vee's Marketing v. United States, Western District of Wisconsin

    May 21, 2015

    After granting the Government's motion for partial summary judgment in 2014, the Federal Court has now ruled in favor of the Government and rejects the taxpayer's claim for refund lawsuit. At issue was whether the marketed "Prepare Plan" is a listed transaction (i.e., the same as, or is substantially similar to the transactions described in Notice 95-34, in conjunction with IRS Notice 2000-15). The plan at issue is the Affiliated Employers Health & Welfare Trust Plan, purporting to be a multiple employer welfare benefit plan under 26 USC Section 419A(f)(6)(B), whereby 10 or more small employers can come together and purchase insurance for employees. CJA and Associates is the insurance marketing company. The Court found that there was no true pooling of risk with regard to the plan; that instead, there were efforts to segregate and account as to each employer making contributions to the plan.

    In the case, the IRS had assessed a IRC 6707A penalty, of $10,000 per year in 2004, 2005, 2006, and 2007 against Vee' Marketing, Inc., a S corporation wholly owned by Mr. Vee. No Form 8886 was filed by the company in the years 2004, 2005, 2006, and 2007, with respect to years in which contributions were made to the trust, and deductions taken by the company for retirement expenses. A Form 8886 was attached to the 2011 and 2012 tax year returns. The company paid the penalty, in full, and then filed a claim for refund of the same. The IRS relied on Mr. Charles DeWeese, as an actuarial expert in the case. He has testified in as many as 7-8 cases

    ReplyDelete
  109. FEDERAL COURT FINDS PREPARE PLAN TO BE SUBSTANTIALLY SIMILAR TO NOTICE 95-34

    05 / 21 / 2015

    Vee's Marketing v. United States, Western District of Wisconsin

    May 21, 2015

    After granting the Government's motion for partial summary judgment in 2014, the Federal Court has now ruled in favor of the Government and rejects the taxpayer's claim for refund lawsuit. At issue was whether the marketed "Prepare Plan" is a listed transaction (i.e., the same as, or is substantially similar to the transactions described in Notice 95-34, in conjunction with IRS Notice 2000-15). The plan at issue is the Affiliated Employers Health & Welfare Trust Plan, purporting to be a multiple employer welfare benefit plan under 26 USC Section 419A(f)(6)(B), whereby 10 or more small employers can come together and purchase insurance for employees. CJA and Associates is the insurance marketing company. The Court found that there was no true pooling of risk with regard to the plan; that instead, there were efforts to segregate and account as to each employer making contributions to the plan.

    In the case, the IRS had assessed a IRC 6707A penalty, of $10,000 per year in 2004, 2005, 2006, and 2007 against Vee' Marketing, Inc., a S corporation wholly owned by Mr. Vee. No Form 8886 was filed by the company in the years 2004, 2005, 2006, and 2007, with respect to years in which contributions were made to the trust, and deductions taken by the company for retirement expenses. A Form 8886 was attached to the 2011 and 2012 tax year returns. The company paid the penalty, in full, and then filed a claim for refund of the same. The IRS relied on Mr. Charles DeWeese, as an actuarial expert in the case. He has testified in as many as 7-8 cases

    ReplyDelete
  110. Court holds p
    The district court granted summary judgment on both counts.

    The plan didn’t provide for a fixed welfare benefit. The district court pointed out that, by Koresko’s own admissions, it was clear that the REAL VEBA did not provide fixed welfare benefits. The terms of the Plan and Trust didn’t state a sum certain payable to any beneficiary. Rather, the promise to pay a death benefit was based on compensation and was contingent on numerous events set forth with specificity in the governing documents, all of which made any death benefit promise a contingent, unsecured promise to pay. In fact, the district court said, participants were not entitled to any welfare benefit, let alone a fixed welfare benefit. They had only a contingent, unsecured claim against the trust estate to receive possible benefits, if they are claimed in the future. Participants were never entitled to insurance proceeds, only to make a claim for benefits.

    In sum, the district court concluded that the REAL VEBA made no guarantees—for benefits, for a certain amount of benefits, or even to pay benefits to beneficiaries. Koresko couldn’t genuinely claim that the REAL VEBA provided a fixed welfare benefit to its participants, in compliance with Reg. § 1.419A(f)(6)-1(c).

    The plan used non-standard triggers for paying benefits. The district court agreed with IRS that the REAL VEBA used non-standard benefit triggers for paying benefits, thus disqualifying it from TOME exemption under Code Sec. 416A(F)(6). Koresko made it clear that the illness, personal injury, or death of an employee or family member, or the employee’s involuntary separation from employment, wouldn’t necessarily trigger payment under the REAL VEBA.

    Penn-Mont, as administrator, and the Plan Committee enjoyed tremendous control over benefits: the source of benefits, to whom payable, the mechanics of payment; and execution of the claim procedure. Penn-Mont’s discretion over the benefit claims process was sole and absolute.

    The real trigger was whether Penn-Mont thought a claim for benefits should be paid and, in that sense, the REAL VEBA made no guarantees when benefits would be paid, if at all.

    The district court also held that the

    ReplyDelete
  111. Court holds p
    The district court granted summary judgment on both counts.

    The plan didn’t provide for a fixed welfare benefit. The district court pointed out that, by Koresko’s own admissions, it was clear that the REAL VEBA did not provide fixed welfare benefits. The terms of the Plan and Trust didn’t state a sum certain payable to any beneficiary. Rather, the promise to pay a death benefit was based on compensation and was contingent on numerous events set forth with specificity in the governing documents, all of which made any death benefit promise a contingent, unsecured promise to pay. In fact, the district court said, participants were not entitled to any welfare benefit, let alone a fixed welfare benefit. They had only a contingent, unsecured claim against the trust estate to receive possible benefits, if they are claimed in the future. Participants were never entitled to insurance proceeds, only to make a claim for benefits.

    In sum, the district court concluded that the REAL VEBA made no guarantees—for benefits, for a certain amount of benefits, or even to pay benefits to beneficiaries. Koresko couldn’t genuinely claim that the REAL VEBA provided a fixed welfare benefit to its participants, in compliance with Reg. § 1.419A(f)(6)-1(c).

    The plan used non-standard triggers for paying benefits. The district court agreed with IRS that the REAL VEBA used non-standard benefit triggers for paying benefits, thus disqualifying it from TOME exemption under Code Sec. 416A(F)(6). Koresko made it clear that the illness, personal injury, or death of an employee or family member, or the employee’s involuntary separation from employment, wouldn’t necessarily trigger payment under the REAL VEBA.

    Penn-Mont, as administrator, and the Plan Committee enjoyed tremendous control over benefits: the source of benefits, to whom payable, the mechanics of payment; and execution of the claim procedure. Penn-Mont’s discretion over the benefit claims process was sole and absolute.

    The real trigger was whether Penn-Mont thought a claim for benefits should be paid and, in that sense, the REAL VEBA made no guarantees when benefits would be paid, if at all.

    The district court also held that the

    ReplyDelete
  112. NATIONAL SECURITY SYSTEMS INC v. IOLA CJA PNC
    ResetAAFont size:Print 7
    United States Court of Appeals,Third Circuit.
    NATIONAL SECURITY SYSTEMS, INC.; Steven Cappello; Universal Mailing Service, Inc.; Michael Maroney, Sr.; Michael Maroney, Jr.; Lima Plastics, Inc.; Jose M. Caria, also known as Joseph M. Caria; Margit Gyantor; Finderne Management Company, Inc.; Rocque Dameo; Daniel Dameo; Alloy Cast Products, Inc.; Kenneth Fisher; Frank Panico v. Robert L. IOLA, Jr.; James W. Barrett; Gerard T. Papetti; Cigna Financial Advisors Inc; Lincoln National Life Insurance Company; U.S. Financial Services Corporation; Ronn Redfearn; Steven G. Shapiro; Tri–Core, Inc.; Commonwealth Life Insurance Company; Monumental Life Insurance Company; Peoples Security Life Insurance Company; Raymond J. Ankner; Beaven Companies, Inc.; CJA Associates, Inc.; Nationsbank Texas Trust; Riggs National Bank; PNC Bank N.A.; Bank of America Universal Mailing Service, Inc.; Michael Maroney, Sr.; Michael Maroney, Jr.; Lima Plastics, Inc.; Jose M. Caria, also known as Joseph M. Caria; Margit Gyantor; Finderne Management Company, Inc.; Rocque Dameo; Daniel Dameo; Alloy Cast Products, Inc.; Kenneth Fisher; Frank Panico, Appellants.
    National Security Systems, Inc.; Steven Cappello; Universal Mailing Service, Inc.; Michael Maroney, Sr.; Michael Maroney, Jr.; Lima Plastics, Inc.; Jose M. Caria, also known as JOSEPH M. CARIA; Margit Gyantor; Finderne Management Company, Inc.; Rocque Dameo; Daniel Dameo; Alloy Cast Products, Inc.; Kenneth Fisher; Frank Panico v. Robert L. Iola, Jr.; James
    - See more at: http://caselaw.findlaw.com/us-3rd-circuit/1615357.html#sthash.NLXCVDTX.dpuf

    ReplyDelete
  113. NATIONAL SECURITY SYSTEMS INC v. IOLA CJA PNC
    ResetAAFont size:Print 7
    United States Court of Appeals,Third Circuit.
    NATIONAL SECURITY SYSTEMS, INC.; Steven Cappello; Universal Mailing Service, Inc.; Michael Maroney, Sr.; Michael Maroney, Jr.; Lima Plastics, Inc.; Jose M. Caria, also known as Joseph M. Caria; Margit Gyantor; Finderne Management Company, Inc.; Rocque Dameo; Daniel Dameo; Alloy Cast Products, Inc.; Kenneth Fisher; Frank Panico v. Robert L. IOLA, Jr.; James W. Barrett; Gerard T. Papetti; Cigna Financial Advisors Inc; Lincoln National Life Insurance Company; U.S. Financial Services Corporation; Ronn Redfearn; Steven G. Shapiro; Tri–Core, Inc.; Commonwealth Life Insurance Company; Monumental Life Insurance Company; Peoples Security Life Insurance Company; Raymond J. Ankner; Beaven Companies, Inc.; CJA Associates, Inc.; Nationsbank Texas Trust; Riggs National Bank; PNC Bank N.A.; Bank of America Universal Mailing Service, Inc.; Michael Maroney, Sr.; Michael Maroney, Jr.; Lima Plastics, Inc.; Jose M. Caria, also known as Joseph M. Caria; Margit Gyantor; Finderne Management Company, Inc.; Rocque Dameo; Daniel Dameo; Alloy Cast Products, Inc.; Kenneth Fisher; Frank Panico, Appellants.
    National Security Systems, Inc.; Steven Cappello; Universal Mailing Service, Inc.; Michael Maroney, Sr.; Michael Maroney, Jr.; Lima Plastics, Inc.; Jose M. Caria, also known as JOSEPH M. CARIA; Margit Gyantor; Finderne Management Company, Inc.; Rocque Dameo; Daniel Dameo; Alloy Cast Products, Inc.; Kenneth Fisher; Frank Panico v. Robert L. Iola, Jr.; James
    - See more at: http://caselaw.findlaw.com/us-3rd-circuit/1615357.html#sthash.NLXCVDTX.dpuf

    ReplyDelete
  114. announced that today it filed a class action lawsuit against Chicago-based CJA and Associates and Kansas City, Missouri-based Fidelity Security Life Insurance Company (FSL). The lawsuit alleges that CJA and FSL breached fiduciary duties in duping small business owners into investing millions of dollars of employee retirement benefit money in FSL annuities when up to 95% of the initial money invested was being siphoned off in commissions and fees. The so-called Section 412 (e)(3) plans are under attack from the IRS as illegitimate attempts to avoid federal taxes. The lawsuit alleges that by advising investment in these plans CJA and FSL breached federal laws governing advice given to employee benefit plans.

    Purchasers of CJA or FSL Section 412 (e)(3) plans are encouraged to contact Moukawsher & Walsh, LLC for information concerning the litigation.

    The plaintiffs are represented

    ReplyDelete
  115. announced that today it filed a class action lawsuit against Chicago-based CJA and Associates and Kansas City, Missouri-based Fidelity Security Life Insurance Company (FSL). The lawsuit alleges that CJA and FSL breached fiduciary duties in duping small business owners into investing millions of dollars of employee retirement benefit money in FSL annuities when up to 95% of the initial money invested was being siphoned off in commissions and fees. The so-called Section 412 (e)(3) plans are under attack from the IRS as illegitimate attempts to avoid federal taxes. The lawsuit alleges that by advising investment in these plans CJA and FSL breached federal laws governing advice given to employee benefit plans.

    Purchasers of CJA or FSL Section 412 (e)(3) plans are encouraged to contact Moukawsher & Walsh, LLC for information concerning the litigation.

    The plaintiffs are represented

    ReplyDelete
  116. IN THE SUPREME COURT OF PENNSYLVANIA
    OFFICE OF DISCIPLINARY COUNSEL,
    Petitioner
    v.
    JOHN J. KORESKO, V.,
    Respondent
    No. 2175 Disciplinary Docket No. 3
    No. 119 DB 2013
    Attorney Registration No. 42795
    (Montgomery County)
    ORDER
    PER CURIAM:
    . AND NOW, this 41
    h day of September, 2015, no response having been filed to a
    Rule to show cause why John J. Koresko, V, should not be disbarred, the Rule is made
    absolute. John J. Koresko, V, is disbarred; he shall comply with all the provisions of
    Pa.R.D.E. 21; and he shall pay costs to the Disciplinary Board pursuant to Pa.R.D.E.
    208(g).

    ReplyDelete
  117. IN THE SUPREME COURT OF PENNSYLVANIA
    OFFICE OF DISCIPLINARY COUNSEL,
    Petitioner
    v.
    JOHN J. KORESKO, V.,
    Respondent
    No. 2175 Disciplinary Docket No. 3
    No. 119 DB 2013
    Attorney Registration No. 42795
    (Montgomery County)
    ORDER
    PER CURIAM:
    . AND NOW, this 41
    h day of September, 2015, no response having been filed to a
    Rule to show cause why John J. Koresko, V, should not be disbarred, the Rule is made
    absolute. John J. Koresko, V, is disbarred; he shall comply with all the provisions of
    Pa.R.D.E. 21; and he shall pay costs to the Disciplinary Board pursuant to Pa.R.D.E.
    208(g).

    ReplyDelete
  118. hursday, 17 September 2015 WRN# 15.09.17
    The WRNewswire is created exclusively for AALU Members by insurance experts led by Steve
    Leimberg, Lawrence Brody and Linas Sudzius. WRNewswire 15.09.17 was written by
    Marla Aspinwall.
    ___________________________________________________________________________

    ReplyDelete
  119. hursday, 17 September 2015 WRN# 15.09.17
    The WRNewswire is created exclusively for AALU Members by insurance experts led by Steve
    Leimberg, Lawrence Brody and Linas Sudzius. WRNewswire 15.09.17 was written by
    Marla Aspinwall.
    ___________________________________________________________________________

    ReplyDelete
  120. Leagle.com
    HOME LATEST DECISIONS FEATURED DECISIONS LEAGLE KONTACT ABOUT US CONTACT US ADVANCED CASE SEARCH
    Leagle.com Leagle.com Leagle.comimed that VEBA

    ReplyDelete
  121. Leagle.com
    HOME LATEST DECISIONS FEATURED DECISIONS LEAGLE KONTACT ABOUT US CONTACT US ADVANCED CASE SEARCH
    Leagle.com Leagle.com Leagle.comimed that VEBA

    ReplyDelete
  122. IN THE SUPREME COURT OF PENNSYLVANIA
    OFFICE OF DISCIPLINARY COUNSEL,
    Petitioner
    v.
    JOHN J. KORESKO, V.,
    Respondent
    No. 2175 Disciplinary Docket No. 3
    No. 119 DB 2013
    Attorney Registration No. 42795
    (Montgomery County)
    ORDER
    PER CURIAM:
    . AND NOW, this 41
    h day of September, 2015, no response having been filed to a
    Rule to show cause why John J. Koresko, V, should not be disbarred, the Rule is made
    absolute. John J. Koresko, V, is disbarred; he shall comply with all the provisions of
    Pa.R.D.E. 21; and he shall pay costs to the Disciplinary Board pursuant to Pa.R.D.E.
    208(g).
    A True COJlY Patricia Nicola
    As Of 9/4/2015
    Attest: Chief Cler ~}ltt#bJ

    ReplyDelete
  123. IN THE SUPREME COURT OF PENNSYLVANIA
    OFFICE OF DISCIPLINARY COUNSEL,
    Petitioner
    v.
    JOHN J. KORESKO, V.,
    Respondent
    No. 2175 Disciplinary Docket No. 3
    No. 119 DB 2013
    Attorney Registration No. 42795
    (Montgomery County)
    ORDER
    PER CURIAM:
    . AND NOW, this 41
    h day of September, 2015, no response having been filed to a
    Rule to show cause why John J. Koresko, V, should not be disbarred, the Rule is made
    absolute. John J. Koresko, V, is disbarred; he shall comply with all the provisions of
    Pa.R.D.E. 21; and he shall pay costs to the Disciplinary Board pursuant to Pa.R.D.E.
    208(g).
    A True COJlY Patricia Nicola
    As Of 9/4/2015
    Attest: Chief Cler ~}ltt#bJ

    ReplyDelete

  124. Small businesses facing audits and potentially huge tax penalties over certain types of
    retirement plans are filing lawsuits against those who marketed, des its opinion letters
    approving the plans, will appeal the dismissal to the 5th Circuit.

    In a case that survived a similar motion to dismiss, a small business owner is suing
    Hartford Insurance to recover a "seven-figure" sum in penalties and fees paid to the IRS. A
    trial is expected in August.

    Last July, in response to a letter from members of Congress, the IRS put a moratorium on
    collection of §6707A penalties, but only in cases where the tax beneits were less than
    $100,000 per year for individuals and $200,000 for entities. That moratorium was recently
    extended until March 1, 2010.

    But tax experts say the audits and penalties continue. "There's a bit of a disconnect
    between what members of Congress thought they meant by suspending collection and
    what is happening in practice. Clients are still getting bills and threats of liens," Wallach said.
    "Thousands of business owners are being hit with million-dollar-plus fines. ... The audits
    are continuing and escalating. I just got four calls today," he said. A bill has been
    introduced in Congress to make the penalties less draconian, but nobody is expecting a
    magic bullet.

    From what we know, Congress is looking to make the penalties more proportionate to the
    tax benefit received instead of a fixed amount.

    ReplyDelete
  125. SUPREME COURT OF THE STATE OF NEW YORK
    COUNTY OF NEW YORK:COMMERCIAL DIVISION
    ----------------------------------------X
    In the matter of the Application of
    UBS PAINEWEBBER INC. N/K/A
    UBS FINANCIAL SERVICES, INC.,
    Petitioner, Index No. 600156/06
    -againstBENISTAR
    PROPERTY EXCHANGE TRUST
    COMPANY, INC.,
    Respondent.
    ----------------------------------------X
    Charles Edward Ramos, J.S.C.:
    In motion sequence 001, petitioner UBS Painewebber Inc.
    (“UBS”), moves, pursuant to Article 75 of the CPLR, to vacate the
    arbitration award dated December 15, 2005 issued by the National
    Association of Securities Dealers (“NASD”) in favor of the
    respondent, Benistar Property Exchange Trust Company, Inc.
    (“Benistar”).
    Background
    This dispute arises from a brokerage relationship between
    UBS and its former customer, Benistar. In October 2000, after a
    similar two-year relationship with Merrill Lynch, Benistar
    transferred certain accounts to UBS. The accounts transferred
    were corporate accounts, qualified for options trading, and nondiscretionary
    . At the end of eight weeks of activity, Benistar 1
    suffered substantial losses . UBS and Daniel Carpenter (the

    ReplyDelete
  126. SUPREME COURT OF THE STATE OF NEW YORK
    COUNTY OF NEW YORK:COMMERCIAL DIVISION
    ----------------------------------------X
    In the matter of the Application of
    UBS PAINEWEBBER INC. N/K/A
    UBS FINANCIAL SERVICES, INC.,
    Petitioner, Index No. 600156/06
    -againstBENISTAR
    PROPERTY EXCHANGE TRUST
    COMPANY, INC.,
    Respondent.
    ----------------------------------------X
    Charles Edward Ramos, J.S.C.:
    In motion sequence 001, petitioner UBS Painewebber Inc.
    (“UBS”), moves, pursuant to Article 75 of the CPLR, to vacate the
    arbitration award dated December 15, 2005 issued by the National
    Association of Securities Dealers (“NASD”) in favor of the
    respondent, Benistar Property Exchange Trust Company, Inc.
    (“Benistar”).
    Background
    This dispute arises from a brokerage relationship between
    UBS and its former customer, Benistar. In October 2000, after a
    similar two-year relationship with Merrill Lynch, Benistar
    transferred certain accounts to UBS. The accounts transferred
    were corporate accounts, qualified for options trading, and nondiscretionary
    . At the end of eight weeks of activity, Benistar 1
    suffered substantial losses . UBS and Daniel Carpenter (the

    ReplyDelete
  127. Stacey Arenas Stacey Arenas
    Assistant Managing Director, Marketing Manager at Vebaplan LLC
    Edit postView stats
    Real VEBA John Koresko and IRS
    Mar 23, 201615 views1 Like3 CommentsShare on LinkedInShare on FacebookShare on Twitter
    Stacey Arenas
    Assistant Managing Director, Marketing Manager at Vebaplan LLC

    Edit postView stats

    Real veba john koresko attacked by court and IRS
    9 views
    1 Like
    1 Comment
    Share on LinkedIn
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    Share on Twitter
    Court holds promoter of abusive VEBA penalized for making false or fraudulent statements


    0
    inShare
    Koresko v. US, (DC-PA 8/19/2015) 116 AFTR 2d ¶ 2015-5165
    A district court has concluded that the promoter of an abusive voluntary employees’ benefit association (VEBA) had to pay the Code Sec. 6700(a)(2)(A) penalty for making a false or fraudulent statement. The promoter, an attorney-CPA and acknowledged tax expert, should have known that his statements misrepresented that the VEBA met the requirements to qualify for favorable

    ReplyDelete
  128. Stacey Arenas Stacey Arenas
    Assistant Managing Director, Marketing Manager at Vebaplan LLC
    Edit postView stats
    Real VEBA John Koresko and IRS
    Mar 23, 201615 views1 Like3 CommentsShare on LinkedInShare on FacebookShare on Twitter
    Stacey Arenas
    Assistant Managing Director, Marketing Manager at Vebaplan LLC

    Edit postView stats

    Real veba john koresko attacked by court and IRS
    9 views
    1 Like
    1 Comment
    Share on LinkedIn
    Share on Facebook
    Share on Twitter
    Court holds promoter of abusive VEBA penalized for making false or fraudulent statements


    0
    inShare
    Koresko v. US, (DC-PA 8/19/2015) 116 AFTR 2d ¶ 2015-5165
    A district court has concluded that the promoter of an abusive voluntary employees’ benefit association (VEBA) had to pay the Code Sec. 6700(a)(2)(A) penalty for making a false or fraudulent statement. The promoter, an attorney-CPA and acknowledged tax expert, should have known that his statements misrepresented that the VEBA met the requirements to qualify for favorable

    ReplyDelete
  129. Stacey Arenas Stacey Arenas
    Assistant Managing Director, Marketing Manager at Vebaplan LLC
    Edit postView stats
    Real VEBA John Koresko and IRS
    Mar 23, 201615 views1 Like3 CommentsShare on LinkedInShare on FacebookShare on Twitter
    Stacey Arenas
    Assistant Managing Director, Marketing Manager at Vebaplan LLC

    Edit postView stats

    Real veba john koresko attacked by court and IRS
    9 views
    1 Like
    1 Comment
    Share on LinkedIn
    Share on Facebook
    Share on Twitter
    Court holds promoter of abusive VEBA penalized for making false or fraudulent statements


    0
    inShare
    Koresko v. US, (DC-PA 8/19/2015) 116 AFTR 2d ¶ 2015-5165
    A district court has concluded that the promoter of an abusive voluntary employees’ benefit association (VEBA) had to pay the Code Sec. 6700(a)(2)(A) penalty for making a false or fraudulent statement. The promoter, an attorney-CPA and acknowledged tax expert, should have known that his statements misrepresented that the VEBA met the requirements to qualify for favorable “ten or more employer” (TOME) plan status.

    Background on VEBAs and TOMEs. Under Code Sec. 501(c)(9), a VEBA providing for the payment of life, sick, accident or other benefits to its members or their dependents or designated beneficiaries is exempt if no part of its net

    ReplyDelete
  130. Stacey Arenas Stacey Arenas
    Assistant Managing Director, Marketing Manager at Vebaplan LLC
    Edit postView stats
    Real VEBA John Koresko and IRS
    Mar 23, 201615 views1 Like3 CommentsShare on LinkedInShare on FacebookShare on Twitter
    Stacey Arenas
    Assistant Managing Director, Marketing Manager at Vebaplan LLC

    Edit postView stats

    Real veba john koresko attacked by court and IRS
    9 views
    1 Like
    1 Comment
    Share on LinkedIn
    Share on Facebook
    Share on Twitter
    Court holds promoter of abusive VEBA penalized for making false or fraudulent statements


    0
    inShare
    Koresko v. US, (DC-PA 8/19/2015) 116 AFTR 2d ¶ 2015-5165
    A district court has concluded that the promoter of an abusive voluntary employees’ benefit association (VEBA) had to pay the Code Sec. 6700(a)(2)(A) penalty for making a false or fraudulent statement. The promoter, an attorney-CPA and acknowledged tax expert, should have known that his statements misrepresented that the VEBA met the requirements to qualify for favorable “ten or more employer” (TOME) plan status.

    Background on VEBAs and TOMEs. Under Code Sec. 501(c)(9), a VEBA providing for the payment of life, sick, accident or other benefits to its members or their dependents or designated beneficiaries is exempt if no part of its net

    ReplyDelete
  131. Stacey Arenas Stacey Arenas
    Assistant Managing Director, Marketing Manager at Vebaplan LLC
    Edit postView stats
    Real VEBA John Koresko and IRS
    Mar 23, 201615 views1 Like3 CommentsShare on LinkedInShare on FacebookShare on Twitter
    Stacey Arenas
    Assistant Managing Director, Marketing Manager at Vebaplan LLC

    Edit postView stats

    Real veba john koresko attacked by court and IRS
    9 views
    1 Like
    1 Comment
    Share on LinkedIn
    Share on Facebook
    Share on Twitter
    Court holds promoter of abusive VEBA penalized for making false or fraudulent statements


    0
    inShare
    Koresko v. US, (DC-PA 8/19/2015) 116 AFTR 2d ¶ 2015-5165
    A district court has concluded that the promoter of an abusive voluntary employees’ benefit association (VEBA) had to pay the Code Sec. 6700(a)(2)(A) penalty for making a false or fraudulent statement. The promoter, an attorney-CPA and acknowledged tax expert, should have known that his statements misrepresented that the VEBA met the requirements to qualify for favorable “ten or more employer” (TOME) plan status.

    Background on VEBAs and TOMEs. Under Code Sec. 501(c)(9), a VEBA providing for the payment of life, sick, accident or other benefits to its members or their dependents or designated beneficiaries is exempt if no part of its net

    ReplyDelete
  132. Stacey Arenas Stacey Arenas
    Assistant Managing Director, Marketing Manager at Vebaplan LLC
    Edit postView stats
    Real VEBA John Koresko and IRS
    Mar 23, 201620 views1 Like3 CommentsShare on LinkedInShare on FacebookShare on Twitter
    Stacey Arenas
    Assistant Managing Director, Marketing Manager at Vebaplan LLC

    Edit postView stats

    Real veba john koresko attacked by court and IRS
    9 views
    1 Like
    1 Comment
    Share on LinkedIn
    Share on Facebook
    Share on Twitter
    Court holds promoter of abusive VEBA penalized for making false or fraudulent statements

    et.

    ReplyDelete
  133. Stacey Arenas Stacey Arenas
    Assistant Managing Director, Marketing Manager at Vebaplan LLC
    Edit postView stats
    Real VEBA John Koresko and IRS
    Mar 23, 201620 views1 Like3 CommentsShare on LinkedInShare on FacebookShare on Twitter
    Stacey Arenas
    Assistant Managing Director, Marketing Manager at Vebaplan LLC

    Edit postView stats

    Real veba john koresko attacked by court and IRS
    9 views
    1 Like
    1 Comment
    Share on LinkedIn
    Share on Facebook
    Share on Twitter
    Court holds promoter of abusive VEBA penalized for making false or fraudulent statements

    et.

    ReplyDelete



  134. The "Tax Resolution" Offices of "Lance Wallach"
    5 1 6 - 9 3 8 - 5 0 0 7 Nationwide Assistance
    WallachInc@gmail.com
    Home
    Contact Us
    Expert Witness Services
    Resources
    Why Choose us

    You Landed Here For A Reason
    Don't Ignore Your Good Fortune

    "
    If you landed on this page while searching for information, there is a very good chance that your financial future is in jeopardy because of what the IRS now considers abusive tax shelters.

    You are almost certainly looking at:
    IRS Penalties, Fraud, Scams, Fines, and Audits

    These days people can’t afford to pay "IRS fines"of up to $200,000 for each year they were in a benefit or "retirement plan" they THOUGHT was working properly. If you are in a 412i "retirement plan" or a "419 welfare benefit plan" and got a "letter from the IRS", your money may be in serious trouble and you could be put out of business - permanently. You need to act IMMEDIATELY if you want to save your money, your business, or recover what has already been lost!

    If you participated in a 419e plan, 412i plan, Section 79, listed or reportable transaction you have very specific things to do to save you from IRS fines and penalties. We know what those things are and we know how to get it all done. We can help anyone with problems resulting from being in a listed transaction or a reportable transaction.

    HELP IS AVAILABLE! Call 516-938-5007 today (services provided nationwide!) for a FREE phone consultation and find out right away if you are in what the IRS has labeled an "abusive tax shelter", listed or reportable transaction. Once you know, then you can act. Once you act, you can avoid the serious "IRS fines and penalties" that could put you out of business and ruin your life

    Many participants don't even know that they are in an "abusive tax shelter" until they get huge "IRS fines and penalties" which are not able to be appealed.
    There’s lots of information here to help you decide what path to take. Or, just call us at 516-938-5007 for a free consultation and let our team of experts help you find the best solution.
    We are the experts you need regarding:
    "SADI Trust"
    "Professional Benefits Trust" PBI
    "Sea Nine Veba"
    Bisys
    The "Beta Plan"
    The "Millennium
    Niche
    The "Ridge Plan"
    The "Grist Mill Trust"
    The "Compass Welfare Benefit Plan"
    "Section 79 Plans"
    "Captive Insurance"
    and other similar "412i retirement plans" and "419 welfare benefit plans "lance wallach" “abusive tax shelter audit” "tax letter" "irs

    ReplyDelete
  135. Class Action Challenges Propriety of 412(e)(3) Annuities for ERISA Defined Benefit Plans

    Insurance Class Action Defense and ERISA Litigation

    On August 1, 2012, a putative class action lawsuit was filed in the District of Connecticut challenging the propriety of certain insurance contracts used to fund defined benefit plans described in section 412(e)(3) of the Internal Revenue Code. U.S. Telemanagement, Inc. v. Fidelity Security Life Insurance Co. et al., No. 3:12-cv-1110 JBA (D. Conn.). Because we perceive that the complaint is attacking the appropriateness of the product, as well as the specifics of the product that the named defendant sold, it is a lawsuit that potentially could have industry-wide implications. In addition, as plaintiffs in some of the ERISA revenue-sharing lawsuits have attempted to do, the complaint alleges that the insurance company that sold the annuities acted as an ERISA fiduciary of the plans. This lawsuit thus extends the attack on

    ReplyDelete
  136. Class Action Challenges Propriety of 412(e)(3) Annuities for ERISA Defined Benefit Plans

    Insurance Class Action Defense and ERISA Litigation

    On August 1, 2012, a putative class action lawsuit was filed in the District of Connecticut challenging the propriety of certain insurance contracts used to fund defined benefit plans described in section 412(e)(3) of the Internal Revenue Code. U.S. Telemanagement, Inc. v. Fidelity Security Life Insurance Co. et al., No. 3:12-cv-1110 JBA (D. Conn.). Because we perceive that the complaint is attacking the appropriateness of the product, as well as the specifics of the product that the named defendant sold, it is a lawsuit that potentially could have industry-wide implications. In addition, as plaintiffs in some of the ERISA revenue-sharing lawsuits have attempted to do, the complaint alleges that the insurance company that sold the annuities acted as an ERISA fiduciary of the plans. This lawsuit thus extends the attack on

    ReplyDelete
  137. CJA And Associates - PRESIDENT


    3 of 5 CJA And Associates Reviews
    Naples, Florida Jul 05, 2013 341 views 11 comments
    CJA SOLD US DEFECTIVE EMPLOYEE BENEFIT PLANS COSTING US HUNDREDS

    OF THOUSANDS OF DOLLARS AND IRS AUDITS AND PENALTIES

    ALL WHILE CJA WALKED AWAY WITH HUNDREDS OF THOUSANDS OF OUR DOLLARS IN COMMISSIONS

    ALSO THE INSURANCE COMPANY FIDELITY SECURITY LIFE INSURANCE IS PART OF THIS SCHEME TO DEFRAUD COMPANIES OUT OF MILLIONS OF DOLLARS

    THE IRS GOT LIST OF ALL OF CJA CUSTOMERS AND CAME AFTER THEM WITH AUDITS AND HUGE FINES, CJA HAS DONE NOTHING TO RECTIFY THEIR MISTAKE AND REFUSES TO GIVE BACK ANY MONEY OR ANY OF THE COMMISSIONS THEY TOOK AT THEIR CUSTOMERS EXPENSE AND EXPOSURE TO HUNDREDES OF THOUSANDS OF IRS PENALTIES

    ReplyDelete

  138. CJA and Associates got me audited


    2 of 5 CJA And Associates Reviews
    Jan 15, 2015 171 views 3 comments
    They issued a plan that I believed was a good deal and would provide adequate coverage for my employees and save me money on taxes.However it did not, I ended up getting audited by the IRS and having my employees sue me.

    There is a class action suit being taken against these crooks for their captive insurance plan and as many people as possible should join in and put them out of business.

    Luckily I reached out to Lance Wallach for help and was able to avoid bankruptcy.Visit http://cja.tax/ to learn more about how to get out from under the tragedy that CJA and associates heaped upon you.

    ReplyDelete

  139. CJA and Associates got me audited


    2 of 5 CJA And Associates Reviews
    Jan 15, 2015 171 views 3 comments
    They issued a plan that I believed was a good deal and would provide adequate coverage for my employees and save me money on taxes.However it did not, I ended up getting audited by the IRS and having my employees sue me.

    There is a class action suit being taken against these crooks for their captive insurance plan and as many people as possible should join in and put them out of business.

    Luckily I reached out to Lance Wallach for help and was able to avoid bankruptcy.Visit http://cja.tax/ to learn more about how to get out from under the tragedy that CJA and associates heaped upon you.

    ReplyDelete

  140. Lance Wallach
    Managing Director
    The Offices of Lance Wallach
    Serving clients
    nationwide

    Call us today:
    516-938-5007

    Email us at:

    LanWalla@aol.com
    Every one of our consulting attorneys, CPAs & ex
    IRS Agents has over 25 years of professional
    experience! We believe that no firm has more
    experienced professionals to assist our clients
    than we do!
    Specializing in the following services:

    "IRS audit appeals"
    U.S. 'Tax Court' cases
    Multinational taxation consulting
    Incorporating your business
    Recovering losses from insurance companies
    & brokerage firms
    "Tax shelter analysis"
    "Pension plan reviews" & evaluations
    "419"& "412i" benefit plan analysis
    "419" & "412i plan" remediation
    Offshore tax shelter issues
    IRS "listed transactions" assistance

    Expert Witness Testimony For:
    * Taxes

    ReplyDelete

  141. Lance Wallach
    Managing Director
    The Offices of Lance Wallach
    Serving clients
    nationwide

    Call us today:
    516-938-5007

    Email us at:

    LanWalla@aol.com
    Every one of our consulting attorneys, CPAs & ex
    IRS Agents has over 25 years of professional
    experience! We believe that no firm has more
    experienced professionals to assist our clients
    than we do!
    Specializing in the following services:

    "IRS audit appeals"
    U.S. 'Tax Court' cases
    Multinational taxation consulting
    Incorporating your business
    Recovering losses from insurance companies
    & brokerage firms
    "Tax shelter analysis"
    "Pension plan reviews" & evaluations
    "419"& "412i" benefit plan analysis
    "419" & "412i plan" remediation
    Offshore tax shelter issues
    IRS "listed transactions" assistance

    Expert Witness Testimony For:
    * Taxes

    ReplyDelete
  142. Raymond Ankner Insurance
    Raymond Ankner -Expected to be the biggest life insurance failure in Illinois : IRS Attacks CJA and Associates’ plans, 419e plans litigation and IRS

    ReplyDelete

  143. All Reviews Financial Services CJA And Associates 1 of 5 reviews
    CJA And Associates - SCAM CJA AND ASSOCIATED also CJA MARKETING

    Greenville, South Carolina Nov 20, 2015 44 views 2 comments
    We too are victims of this scam

    RUN from these people RAYMOND ANKNER and he band of cronies

    You will get ripped off for hundreds of thousands of dollars plus face huge IRS penalties up to 200,000!!!

    BEWARE and spread the word!!

    just google RAYMOND ANKNER and look at all the lawsuits he has been in and lost

    Do not be had by these perps

    They claim to be experts in insurance and retirement plans but are experts in ripping off their victims with hundreds of thousands in commissions!

    They have office in Chicago and Naples Florida

    Ankner was CEO of largest insurance company bankruptcy in Illinois state history, he stuck his policy holders with 30 million in losses!

    ReplyDelete

  144. All Reviews Financial Services CJA And Associates 1 of 5 reviews
    CJA And Associates - SCAM CJA AND ASSOCIATED also CJA MARKETING

    Greenville, South Carolina Nov 20, 2015 44 views 2 comments
    We too are victims of this scam

    RUN from these people RAYMOND ANKNER and he band of cronies

    You will get ripped off for hundreds of thousands of dollars plus face huge IRS penalties up to 200,000!!!

    BEWARE and spread the word!!

    just google RAYMOND ANKNER and look at all the lawsuits he has been in and lost

    Do not be had by these perps

    They claim to be experts in insurance and retirement plans but are experts in ripping off their victims with hundreds of thousands in commissions!

    They have office in Chicago and Naples Florida

    Ankner was CEO of largest insurance company bankruptcy in Illinois state history, he stuck his policy holders with 30 million in losses!

    ReplyDelete

  145. All Reviews Financial Services CJA And Associates 1 of 5 reviews
    CJA And Associates - SCAM CJA AND ASSOCIATED also CJA MARKETING

    Greenville, South Carolina Nov 20, 2015 44 views 2 comments
    We too are victims of this scam

    RUN from these people RAYMOND ANKNER and he band of cronies

    You will get ripped off for hundreds of thousands of dollars plus face huge IRS penalties up to 200,000!!!

    BEWARE and spread the word!!

    just google RAYMOND ANKNER and look at all the lawsuits he has been in and lost

    Do not be had by these perps

    They claim to be experts in insurance and retirement plans but are experts in ripping off their victims with hundreds of thousands in commissions!

    They have office in Chicago and Naples Florida

    Ankner was CEO of largest insurance company bankruptcy in Illinois state history, he stuck his policy holders with 30 million in losses!

    ReplyDelete

  146. All Reviews Financial Services CJA And Associates 1 of 5 reviews
    CJA And Associates - SCAM CJA AND ASSOCIATED also CJA MARKETING

    Greenville, South Carolina Nov 20, 2015 44 views 2 comments
    We too are victims of this scam

    RUN from these people RAYMOND ANKNER and he band of cronies

    You will get ripped off for hundreds of thousands of dollars plus face huge IRS penalties up to 200,000!!!

    BEWARE and spread the word!!

    just google RAYMOND ANKNER and look at all the lawsuits he has been in and lost

    Do not be had by these perps

    They claim to be experts in insurance and retirement plans but are experts in ripping off their victims with hundreds of thousands in commissions!

    They have office in Chicago and Naples Florida

    Ankner was CEO of largest insurance company bankruptcy in Illinois state history, he stuck his policy holders with 30 million in losses!

    ReplyDelete

  147. Lance Wallach
    Managing Director
    The Offices of Lance Wallach
    Serving clients
    nationwide

    Call us today:
    516-938-5007

    Email us at:

    LanWalla@aol.com
    Every one of our consulting attorneys, CPAs & ex
    IRS Agents has over 25 years of professional
    experience! We believe that no firm has more
    experienced professionals to assist our clients
    than we do!
    Specializing in the following services:

    "IRS audit appeals"
    U.S. 'Tax Court' cases
    Multinational taxation consulting
    Incorporating your business
    Recovering losses from insurance companies
    & brokerage firms
    "Tax shelter analysis"
    "Pension plan reviews" & evaluations
    "419"& "412i" benefit plan analysis
    "419" & "412i plan" remediation
    Offshore tax shelter issues
    IRS "listed transactions" assistance

    Expert Witness Testimony For:
    * Taxes
    * Insurance & retirement plan cases
    * SSI & Disability Advocates


    Our consulting
    attorneys,
    CPAs & ex IRS
    agents
    have helped our
    clients
    save hundreds of
    thousands of
    dollars
    successfully
    defending them in
    lawsuits,
    IRS audits &
    cutting IRS
    penalties.
    "America's leading Tax
    representing Firm "(TM)
    To Contact Mr. Wallach Click here
    Lance Wallach Managing Director

    516-938-5007 taxaudit419.com

    The Lance Wallach Network

    TaxAudit419.com ReportableTransactions Listed Transactions IRS6707Apenalty IRSform8886 TaxAdvisorExperts
    ExpertTaxAdvisors Taxlibrary.us

    ReplyDelete

  148. Lance Wallach
    Managing Director
    The Offices of Lance Wallach
    Serving clients
    nationwide

    Call us today:
    516-938-5007

    Email us at:

    LanWalla@aol.com
    Every one of our consulting attorneys, CPAs & ex
    IRS Agents has over 25 years of professional
    experience! We believe that no firm has more
    experienced professionals to assist our clients
    than we do!
    Specializing in the following services:

    "IRS audit appeals"
    U.S. 'Tax Court' cases
    Multinational taxation consulting
    Incorporating your business
    Recovering losses from insurance companies
    & brokerage firms
    "Tax shelter analysis"
    "Pension plan reviews" & evaluations
    "419"& "412i" benefit plan analysis
    "419" & "412i plan" remediation
    Offshore tax shelter issues
    IRS "listed transactions" assistance

    Expert Witness Testimony For:
    * Taxes
    * Insurance & retirement plan cases
    * SSI & Disability Advocates


    Our consulting
    attorneys,
    CPAs & ex IRS
    agents
    have helped our
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    "America's leading Tax
    representing Firm "(TM)
    To Contact Mr. Wallach Click here
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    The Lance Wallach Network

    TaxAudit419.com ReportableTransactions Listed Transactions IRS6707Apenalty IRSform8886 TaxAdvisorExperts
    ExpertTaxAdvisors Taxlibrary.us

    ReplyDelete
  149. irs captive audits
    Published on September 20, 2016
    LikedUnlikeirs captive audits2Comment1ShareShare irs captive audits1
    Stacey Arenas
    Stacey Arenas
    Assistant Managing Director, Marketing Manager at Vebaplan LLC
    A really smart tax professional (AKA, “tax dweeb”) analyzes the tax code and comes up with an intricate scheme to avoid taxes. The scheme is likely legitimate, as to how the tax code literally reads. However, the tax code is written by Congress and the intent and/or interpretation of the tax code is often uncertain. After the aforementioned tax dweeb devises the scheme to avoid tax, people less smart, but much more sociable, take over the process and market and/or implement the tax scheme for profit. These people are called Promoters. The Promoters meet with very wealthy taxpayers and significant tax is avoided. The IRS and the Department of Justice eventually catch on and attempt to stop the tax avoidance schemes. For example, the IRS publishes a list of schemes, called the “Dirty Dozen” to notify the public of what arrangements the Service views as abusive. The 2015 “Dirty Dozen” list included Captives as an abusive tax shelter or tax avoidance scheme. So sad. Okay, time to explain Captive Insurance. For over 60 years, large U.S. companies have formed wholly owned subsidiary captive insurance companies (“Captives”). Generally, these Captives are formed because of the difficulty in obtaining high risk insurance or a company may wish to have more control over its insurance or to save costs. From the 1950’s to the early 2000’s, the IRS litigated large captive insurance arrangements for a variety of reasons. The IRS has just about given up on its quest to invalidate the large Captive arrangements. You see, large companies have deep pockets, and can afford the attorneys and lobbyists (need I say more?). Now, the IRS is targeting small or “micro” Captives. Here is how the IRS describes Captive Insurance in its “Dirty Dozen” release: Captive Insurance Another abuse involving a legitimate tax structure involves certain small or “micro” captive insurance companies. Tax law allows businesses to create “captive” insurance companies to enable

    ReplyDelete
  150. irs captive audits
    Published on September 20, 2016
    LikedUnlikeirs captive audits2Comment1ShareShare irs captive audits1
    Stacey Arenas
    Stacey Arenas
    Assistant Managing Director, Marketing Manager at Vebaplan LLC
    A really smart tax professional (AKA, “tax dweeb”) analyzes the tax code and comes up with an intricate scheme to avoid taxes. The scheme is likely legitimate, as to how the tax code literally reads. However, the tax code is written by Congress and the intent and/or interpretation of the tax code is often uncertain. After the aforementioned tax dweeb devises the scheme to avoid tax, people less smart, but much more sociable, take over the process and market and/or implement the tax scheme for profit. These people are called Promoters. The Promoters meet with very wealthy taxpayers and significant tax is avoided. The IRS and the Department of Justice eventually catch on and attempt to stop the tax avoidance schemes. For example, the IRS publishes a list of schemes, called the “Dirty Dozen” to notify the public of what arrangements the Service views as abusive. The 2015 “Dirty Dozen” list included Captives as an abusive tax shelter or tax avoidance scheme. So sad. Okay, time to explain Captive Insurance. For over 60 years, large U.S. companies have formed wholly owned subsidiary captive insurance companies (“Captives”). Generally, these Captives are formed because of the difficulty in obtaining high risk insurance or a company may wish to have more control over its insurance or to save costs. From the 1950’s to the early 2000’s, the IRS litigated large captive insurance arrangements for a variety of reasons. The IRS has just about given up on its quest to invalidate the large Captive arrangements. You see, large companies have deep pockets, and can afford the attorneys and lobbyists (need I say more?). Now, the IRS is targeting small or “micro” Captives. Here is how the IRS describes Captive Insurance in its “Dirty Dozen” release: Captive Insurance Another abuse involving a legitimate tax structure involves certain small or “micro” captive insurance companies. Tax law allows businesses to create “captive” insurance companies to enable

    ReplyDelete
  151. CJA And Associates - SCAM CJA AND ASSOCIATED also CJA MARKETING

    Greenville, South Carolina Nov 20, 2015 73 views 7 comments
    We too are victims of this scam

    RUN from these people RAYMOND ANKNER and he band of cronies

    You will get ripped off for hundreds of thousands of dollars plus face huge IRS penalties up to 200,000!!!

    BEWARE and spread the word!!

    just google RAYMOND ANKNER and look at all the lawsuits he has been in and lost

    Do not be had by these perps

    They claim to be experts in insurance and retirement plans but are experts in ripping off their victims with hundreds of thousands in commissions!

    They have office in Chicago and Naples Florida

    Ankner was CEO of largest insurance company bankruptcy in Illinois state history, he stuck his policy holders with 30 million in losses!

    ReplyDelete
  152. CJA And Associates - SCAM CJA AND ASSOCIATED also CJA MARKETING

    Greenville, South Carolina Nov 20, 2015 73 views 7 comments
    We too are victims of this scam

    RUN from these people RAYMOND ANKNER and he band of cronies

    You will get ripped off for hundreds of thousands of dollars plus face huge IRS penalties up to 200,000!!!

    BEWARE and spread the word!!

    just google RAYMOND ANKNER and look at all the lawsuits he has been in and lost

    Do not be had by these perps

    They claim to be experts in insurance and retirement plans but are experts in ripping off their victims with hundreds of thousands in commissions!

    They have office in Chicago and Naples Florida

    Ankner was CEO of largest insurance company bankruptcy in Illinois state history, he stuck his policy holders with 30 million in losses!

    ReplyDelete
  153. Beat the IRS
    Abusive Tax Shelters & 419 Plans Lawsuits 412i, 419e plans litigation and IRS Audit Experts for abusive insurance basndustry

    ReplyDelete
  154. Beat the IRS
    Abusive Tax Shelters & 419 Plans Lawsuits 412i, 419e plans litigation and IRS Audit Experts for abusive insurance basndustry

    ReplyDelete
    Replies
    1. google lance wallach and whoever you are working with, who do you think is better?

      Delete
  155. IRSform8886.com
    Call 516-935-7346
    The New Law Guarantees A
    Substantial Fine

    October 2010

    by Robert Sherman
    8886 form expert preparer

    The bill reducing fines for improperly or not filing under "6707A' has
    passed. That sigh of relief you heard last week might have come
    from people participating in the plans named above, or anything
    seeking tax relief that is similar to them – what the IRS calls a list

    ReplyDelete
  156. Captive Insurance Plans _Dirty Dozen

    Thursb)s right or don't do them at all!

    ReplyDelete
  157. CJA And Associates - SCAM CJA AND ASSOCIATED also CJA MARKETING

    Greenville, South Carolina Nov 20, 2015 80 views 6 comments
    We too are victims of this scam

    RUN from these people RAYMOND ANKNER and he band of cronies

    You will get ripped off for hundreds of thousands of dollars plus face huge IRS penalties up to 200,000!!!

    BEWARE and spread the word!!

    just google RAYMOND ANKNER and look at all the lawsuits he has been in and lost

    Do not be had by these perps

    They claim to be experts in insurance and retirement plans but are experts in ripping off their victims with hundreds of thousands in commissions!

    They have office in Chicago and Naples Florida

    Ankner was CEO of largest insurance company bankruptcy in Illinois state history, he stuck his policy holders with 30 million in losses!

    ReplyDelete
  158. cja and associates get sued and audited
    Edit article
    Published on November 21, 2016
    LikedUnlikecja and associates get sued and audited1Comment0ShareShare cja and associates get sued and audited0
    Stacey Arenas
    Stacey Arenas
    Assistant Managing Director, Marketing Manager at Vebaplan LLC
    CJA And Associates - SCAM CJA AND ASSOCIATED also CJA MARKETING





    Greenville, South Carolina Nov 20, 2015 80 views 6 comments

    We too are victims of this scam

    RUN from these people RAYMOND ANKNER and he band of cronies

    You will get ripped off for hundreds of thousands of dollars plus face huge IRS penalties up to 200,000!!!

    BEWARE and spread the word!!

    just google RAYMOND ANKNER and look at all the lawsuits he has been in and lost

    Do not be had by these perps

    They claim to be experts in insurance and retirement plans but are experts in ripping off their victims with hundreds of thousands in commissions!

    They have office in Chicago and Naples Florida

    Ankner was CEO of largest insurance company bankruptcy in Illinois state history, he stuck his policy holders with 30 million in losses!

    ReplyDelete
  159. In two notices and a revenue ruling issued on October 18, the Internal Revenue Service has provided a series of warnings and cautions in an attempt to curtail the growing use of certain trust arrangements under IRC Sec. 419(e), which are bei subject to hefty penalties.”

    ReplyDelete
  160. Kinsale Insurance Company v. CJA and Associates, Inc. et

    ReplyDelete
  161. Benistar Troubles Leave Twisted Trail
    Simsbury tax attorney sued, indicted over bankrupt business
    Ray B. Burton III, The Connecticut Law Tribune
    May 3, 2004
    reprints
    Linkedin Facebook Twitter Google+
    After more than 20 years of building and operating more than a dozen financial planning firms, tax attorney Daniel E. Carpenter, tried his hand trading stock options in the go-go tech boom of the late 1990s. But when the millennium turned, so did his luck. Seven clients of Benistar Property Exchange Trust Co. were left holding the bag -- to the tune of more than $9 milli

    ReplyDelete
  162. Raymond Ankner Insurance
    Raymond Ankner -Expected to be the biggest life insurance failure in Illinois : IRS Life

    ReplyDelete
  163. Raymond Ankner Insurance
    Raymond Ankner -Expected to be the biggest life insurance failure in Illinois : IRS Attacks CJA a

    ReplyDelete
  164. Kinsale Insurance Company v. CJA and Associates, Inc. et al

    Plaintiff: Kinsale Insurance Company
    Defendant: Maurine Hagan, Kent W. Hagan, CJA and Associates, Inc., Hagan & Hagan and Hagan Chiropractic, Inc.
    Case Number: 3:2013cv05303
    Filed: November 14, 2013
    Court: California Northern District Court
    Office: San Francisco Office
    County: XX US, Outside State
    Presiding Judge: Jacqueline Scott Corley
    Nature of Suit: Insurance

    ReplyDelete
  165. Senior Abuses
    412i and 419e plans litigation and IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.
    ail | Stacey Arenas | Pulse | Linke

    ReplyDelete
  166. n Filed against CJA and Associates and Fidelity Security Life

    Hartford, CT: A consumer fraud class action lawsuit has been filed against Chicago-based CJA and Associates and Kansas City, Missouri-based Fidelity Security Life Insurance Company (FSL).

    The lawsuit alleges that CJA and FSL breached fiduciary duties in duping small business owners into investing millions of dollars of employee retirement benefit money in FSL annuities when up to 95% of the initial money invested was being siphoned off in commissions and fees.

    The so-called Section 412 (e)(3) plans are under attack from the IRS as illegitimate attempts to avoid federal taxes. The lawsuit alleges that by advising investment in these plans CJA and FSL breached federal laws governing advice given to employee benefit plans.

    ReplyDelete
  167. cja and associates sued
    Published on December 9, 2016
    Likecja and associates sued0Comment7ShareShare cja and associates sued6
    Stacey Arenas
    Stacey Arenas
    Assistant Managing Director, Marketing Manager at Vebaplan LLC
    CJA And Associates - Trust Fraud





    Greenville, South Carolina Apr 29, 2013 44 views 3 comments

    We were sold what was supposed to be tax deductible employee benefit trust plans that turned out to be disallowed by the IRS costing us hundreds of thousands of dollars in taxes, penalties and the company and agent that sold us got huge commissions on these bogus plans

    We have had nothing but the run around from these people and they control the trust and make up all the rules to their benefit and leave their customers hanging and stuck with huge attorney fees and IRS penalties

    Beware

    If you have been damaged by these plans please leave info on this site and contact information

    This review is a subjective opinion of a user.

    United States dollar 26Taxation in the United States 84
    Report

    Comment

    More Review Details

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    Financial Services

    review #404438 by anonymous

    Had an experience with CJA And Associates?

    Submit review ›



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    Anonymous Nov 22 #1244407 New Rochelle, New York, United States

    Tax Shelter Penalty Hurts Bizs

    The IRS is cracking down on small businesses,!Captive Insurance,Benistar post-65 retiree benefits administration retiree medical and prescription drug plans solutions Brokers plan administration.

    Raymond Ankner -Expected to be the biggest life insurance failure in Illinois : Captive Insurance & 419 Plans Litigation: Septembe...

    Raymond Ankner -Expected to be the biggest life insurance failure in Illinois : Captive Insurance & 419 Plans Litigation: Septembe...: Captive Insurance & 419 Plans Litigation: September 2013

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    Anonymous Mar 17 #1128937 Elmont, New York, United States

    As an expert witness Lance Wallach has never lost a case. Google him or call 516 9357346 to get your money back. He is all over the net helping people.



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    Stacey Arenas
    Assistant Managing Director, Marketing Manager at Vebaplan LLC
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    Lance Wallach
    Business Owner at National Offices of Lance Wallach
    captive insurance, reportable transaction by IRS, 5944 views, 94 likes
    Edit article
    Published on March 10, 2017
    LikedUnlikecaptive insurance, reportable transaction by IRS, 5944 views, 94 likes1Comment0ShareShare captive insurance, reportable transaction by IRS, 5944 views, 94 likes0
    Lance Wallach… See more
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    3mo
    Lance Wallach
    Business Owner at National Offices of Lance Wallach
    Kinsale Insurance Company v. CJA and Associates, Inc. et
    LikeReply
    3mo
    Lance Wallach
    Business Owner at National Offices of Lance Wallach
    CJA And Associates - Trust Fraud

    Greenville, South Carolina Apr 29, 2013 49 views 3 comments
    We were sold what was supposed to be tax deductible employee benefit trust plans that turned out to be disallowed by the IRS costing us hundreds of thousands of dollars in taxes, penalties and the company and agent that sold us got huge commissions on these bogus plans… See more
    LikeReply
    3mo
    Lance Wallach
    Business Owner at National Offices of Lance Wallach
    CJA And Associates - Trust Fraud

    Greenville, South Carolina Apr 29, 2013 49 views 3 comments
    We were sold what was supposed to be tax deductible employee benefit trust plans that turned out to be disallowed by the IRS costing us hundreds of thousands of dollars in taxes, penalties and the company and agent that sold us got huge commissions on these bogus plans… See more

    ReplyDelete
  168. Account Navigation
    cja and associates sued
    Edit article
    Published on December 9, 201

    ReplyDelete
  169. Finance Experts Forum 2
    A collection of in
    BlogThis!
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    Labels: captive insurance, Lance Wallach, Lance Wallach Expert Witness
    Lance Wallach | LinkedIn
    Lance Wallach | LinkedIn
    Posted by Lance Wallach at 6/08/2015 11:13:00 AM No comments:
    Email This
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    Labels: Lance Wallach, Lance Wallach Expert Witness
    IRS Criminal Investigation Department Audits Section 79, Captive Insurance, 412i and 419 Scams
    IRS Criminal Investigation (CI) has developed a nationally coordinated program to combat these abusive tax schemes. CI's primary focus is on the identification and investigation of the tax scheme promoters as well as those who play a substantial or integral role in facilitating, aiding, assisting, or furthering the abusive tax scheme, such as accountants or lawyers. Just as important is the investigation of investors who knowingly participate in abusive tax schemes.

    First 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. If an IRS audit disallows the § 419 plan or the § 412(i) plan, not only does the taxpayer lose the deduction and pay interest and penalties, but then the IRS comes back under IRC 6707A and imposes large fines for not properly filing.

    http://www.hg.org/article.asp?id=35505

    ReplyDelete