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Friday, March 7, 2014 KENNETH ELLIOT: Sea Nine VEBA Important KENNETH ELLIOT: Sea Nine VEBA Important: As of August 23,2013, the IRS has closed audits of 12 Sea Nine VEBA plan-participating taxpayers who were referred to Sea Nine by Sarva. For
On September 2, 2011, the IRS issued final regulations concerning the section 6707A penalty. Such a penalty is imposed on taxpayers who fail to include any information regarding a reportable transaction which was required to be disclosed. The final regulations follow the statutory language of section 6707A as amended by the Small Business Jobs Act of 2010, but do not give further guidance regarding the Service’s computation of the penalty.
It is anticipated that such penalty computation guidance will be issued at a later date.(such guidance is expected by way of regulations that will be issued at a later date). Nonetheless, the final regulations do provide additional guidance concerning rescission of the penalty.
On September 2, 2011, the IRS issued final regulations concerning the section 6707A penalty. Such a penalty is imposed on taxpayers who fail to include any information regarding a reportable transaction which was required to be disclosed. The final regulations follow the statutory language of section 6707A as amended by the Small Business Jobs Act of 2010, but do not give further guidance regarding the Service’s computation of the penalty.
It is anticipated that such penalty computation guidance will be issued at a later date.(such guidance is expected by way of regulations that will be issued at a later date). Nonetheless, the final regulations do provide additional guidance concerning rescission of the penalty.
412i-419 Plans
ReplyDelete419 & 412i benefit plan,abusive tax shelters, Lance Wallach Expert Witness
Friday, March 7, 2014
KENNETH ELLIOT: Sea Nine VEBA Important
KENNETH ELLIOT: Sea Nine VEBA Important: As of August 23,2013, the IRS has closed audits of 12 Sea Nine VEBA plan-participating taxpayers who were referred to Sea Nine by Sarva. For
IRS Issues Final Sec. 6707A Regulations
ReplyDeleteOn September 2, 2011, the IRS issued final regulations concerning the section 6707A penalty. Such a penalty is imposed on taxpayers who fail to include any information regarding a reportable transaction which was required to be disclosed. The final regulations follow the statutory language of section 6707A as amended by the Small Business Jobs Act of 2010, but do not give further guidance regarding the Service’s computation of the penalty.
It is anticipated that such penalty computation guidance will be issued at a later date.(such guidance is expected by way of regulations that will be issued at a later date). Nonetheless, the final regulations do provide additional guidance concerning rescission of the penalty.
IRS Issues Final Sec. 6707A Regulations
ReplyDeleteOn September 2, 2011, the IRS issued final regulations concerning the section 6707A penalty. Such a penalty is imposed on taxpayers who fail to include any information regarding a reportable transaction which was required to be disclosed. The final regulations follow the statutory language of section 6707A as amended by the Small Business Jobs Act of 2010, but do not give further guidance regarding the Service’s computation of the penalty.
It is anticipated that such penalty computation guidance will be issued at a later date.(such guidance is expected by way of regulations that will be issued at a later date). Nonetheless, the final regulations do provide additional guidance concerning rescission of the penalty.