Captive Insurance Plans LanceWallachExpertWitness.info
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When the IRS is unfair, we have the information you need to protect yourself and loved ones. National Offices of Lance Wallach - 516-938-5007.
Lance Wallach, CLU, ChFC, CIMC. The complexity of life insurance puts many litigators at a disadvantage when disputes reach the stage of legal action. Special rules often apply if policies are part of a retirement plan or other tax-favored entity. Even the methods of paying for life insurance especially split-dollar and outside premium financing can affect an outcome. Tax implications are another factor. 419 Plans, Section 79 Plans, and 412.
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The IRS has named Captive insurance companies to its Dirty Dozen List. For those businesses and practitioners found non compliant with IRS standards, the consequences are severe and could include understatement and negligence penalties. If the IRS finds that the captive insurance company isnt up to par, it means losing the premium deduction, incurring aPARSED CONTENT
The site had the following in the homepage, "What Is Captive Insurance? Am I at Risk? Benefits and Risks of Forming a Captive." I noticed that the web site stated " The IRS has initiated audits of hundreds of taxpayers who use captive insurance companies and is also examining practitioners that are assisting Captive Insurance Companies with compliance." They also stated " The IRS has named Captive insurance companies to its Dirty Dozen List. For those businesses and practitioners found non compliant with IRS standards, the consequences are severe and could include understatement and negligence penalties."ANALYZE MORE BUSINESSES
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