IRS Audits 419, 412i, Captive Insurance Plans With Life Insurance, and Section 79 Scams

IRS Audits 419, 412i, Captive Insurance Plans With Life Insurance, and Section 79 Scams:   June 2011   By Lance Wallach   The IRS started auditing 419 plans in the ‘90s, and then continued going after 412i and other plans that they considered abusive, listed, or reportable transactions, or substantially similar to such transactions.   In a recent Tax Court Case,  Curcio v. Commissioner (TC Memo 2010-115), the Tax Court ruled that an...