412i and 419e plans litigation and IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.
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You Don't Have To Just Take OUR Word For It.Read What Our Clients Have To Say!The IRS says:Reportable TransactionsClient TestimonialsNatural persons who fail to disclose a reportable transaction to the IRS are subject to a $10,000 penalty. Other nonreporting taxpayers are subject to a $50,000 penalty.The penalties are increased to $100,000 and $200,000, respectively, for natural persons and other taxpayers who fail to disclose a reportable transaction that is a listed transactionCall 516-935-7346 For Help NOWEmailanExpertCall 516935-7346 TodayFor NationwideAssistance“Lance is an industry leaderHis 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 recentchanges 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
TREASURY REGULATIONS RENDER VEBAs SUBJECT TO TAXExecutive summary:In February 2014, proposed Treasury regulations were issued which, when finalized, will change the way in which most VEBA’s in the 6th Circuit (Michigan, Ohio, Kentucky and Tennessee) are taxed. Essentially, these funds’ investment income will be subject to tax except to the extent that the fund covers participants who are included in a collective bargaining agreement. VEBA’s that are substantially funded by tax-exempt employers are also exempt from the impact of the new regulations. Each plan’s status should be reviewed as soon as possible in light of this upcoming change to determine the applicability of the changes to the plan, the potential tax cost to the plan, and any action that may be warranted to prepare for the change. Unless a plan covers only collectively bargained participants, or is funded substantially by tax-exempt employers, action may be required to calculate and plan for this tax and reporting responsibility.Issue and Discussion: