412i-419 Plans: 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 w...
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 those taxpayers alone, the IRS assessed a total of $4,852,106 in additional taxes, or an average additional tax of $404,342 per audit. Because Sarva has acknowledged directing at least 40 of his customers to Sea Nine, the total amount of harm to the Treasury he has caused through promotion of improper VEBA plans is likely almost four times higher.
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