Course description
Get Sued by Your Clients and Fined by the IRS, 419 Welfare Benefit Plans, Section 79, Captive Insurance and Abusive Tax Shelters
Gain a better understanding of 419(e) welfare benefit plans and protect you and your clients from legal issues. Accountants, financial planners, insurance professionals and others are being sued by their clients and fined by the IRS for participating in, or selling abusive tax shelters or listed transactions. These include but are not limited to 419 welfare benefit plans, 412i plans, section 79 plans, captive insurance plans etc. Most life insurance companies have allowed their products to be placed into these plans. The IRS then investigates because these plans fall under abusive tax shelters, listed transactions or plans similar to them the minimum fine for an accountant or financial professional is $100,000. The client also gets fined and audited by the IRS: they usually sue their accountant and financial advisor. As an expert witness Lane Wallach has successfully defended financial professionals and has successfully been an expert witness suing insurance companies that provided the product. Lance Wallach has presented this award winning material at hundreds of accounting legal and insurance conventions.
Learning Objectives
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Training content
- Description of Various Tax SheltersHow to Avoid Fines for You and Your ClientsWhat to Do When You Are SuedWhat If Your Client Is Already in One of These Tax SheltersVarious SuggestionsDon't Think This Can Happen to You? It Has to Thousands of Advisors Already
Costs
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Lorman Education Services - Live and On-Demand Courses
Lorman Education Services is a leading provider of online professional development and corporate training for organizations and individual professionals. For more than 30 years, Lorman has delivered relevant, high-quality, professional-level courses that cover a broad range of business and technical...