Published in: Massachusets Society of Certified Public Accountants Winter 2010 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 deductible dollars to shareholders and classified these arrangements as listed transactions." These plans were sold by... read full review »

Published in: Massachusets Society of Certified Public Accountants Winter 2010 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 deductible dollars to shareholders and classified these arrangements as listed transactions." These plans were sold by... read full review »

419 Life Insurance Plans and Other Scams – Large IRS Fines – The IRS Raids Plan Promoter Benistar, and What Does All This Mean To You? Posted: Dec. 9, 2010 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... read full review »

419 Life Insurance Plans and Other Scams – Large IRS Fines – The IRS Raids Plan Promoter Benistar, and What Does All This Mean To You? Posted: Dec. 9, 2010 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... read full review »

Benistar go raided by IRS who will now audit all people in the plan. 419 Life Insurance Plans and Other Scams – Large IRS Fines – The IRS Raids Plan Promoter Benistar, and What Does All This Mean To You? Posted: Dec. 9, 2010 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... read full review »