With the right expert, you could;
* Get back all the money you put into the plan in the first place
* Reduce or eliminate the fines and penalties
* Get into compliance so the IRS has no reason to attack you
* Sue the agent, promoter & insurance company that got you involved with the plan
(some companies have initiatives in place to make a business owner whole)
The fines are substantial and once you get them, they cannot be appealed.
The best course of action is to file PROPERLY! Most people don’t do that. Unless you have a great deal of experience with this specific form, you will make mistakes – costly mistakes. It is worth it to pay an expert to prepare these forms and/or fix forms that were prepared by a novice, since it will save you thousands of dollars, maybe even hundreds of thousands.
Our experts have been helping people deal with the large IRS fines and penalties being levied on people in these plans for years. Our team of financial experts, ex-IRS agents, accountants and attorneys will obtain the best resolution of these tax problems that you could ever hope to achieve.
AICPA instructor and course developer, National Society of Accountants Speaker of the Year, Author of numerous books including the AICPA’s Avoiding Circular 230 problems and Small Business Hot spots, Bisk CPEasy CPA’s Guide to Life Insurance, CPA’s Guide to Trusts & Estates, Team Approach to Financial and Estate Planning, NSA Wealth Preservation Planning. Writes for more than 20 publications, appears on Radio and Television shows.
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.
- Speaker of the Year and member of the AICPA faculty of teaching professionals
- Frequent speaker on retirement plans, financial and estate planning, and abusive tax shelters
- Writes about 412(i), 419, and captive insurance plans
- Speaks at more than ten conventions annually
- Writes for more than fifty 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
- Author of Protecting Clients from Fraud, Incompetence and Scams published by John Wiley and Sons
- Author of Bisk Education’s CPA’s Guide to Life Insurance and Federal Estate and Gift Taxation
- Author of AICPA best-selling books, including Avoiding Circular 230 Malpractice Traps and Common Abusive Small Business Hot Spots
- Authored numerous articles in professional publications aimed at accountants, attorneys and tax advisors