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...

Help with Common IRS Problems

Wednesday, April 16, 2014

412(e)(3) Plans and Annuities

On August 1, 2012, a putative class action lawsuit was filed in the District of Connecticut challenging the propriety of certain insurance contracts used to fund defined benefit plans described in section 412(e)(3) of the Internal Revenue Code. U.S. Telemanagement, Inc. v. Fidelity Security Life Insurance Co. et al., No. 3:12-cv-1110 JBA (D. Conn.). Because we perceive that the complaint is attacking the appropriateness of the product, as well as the specifics of the product that the named defendant sold, it is a lawsuit that potentially could have industry-wide implications. In addition, as plaintiffs in some of the ERISA revenue-sharing lawsuits have attempted to do, the complaint alleges that the insurance company that sold the annuities acted as an ERISA fiduciary of the plans. This lawsuit thus extends the attack on insurance companies, as seen in the revenue-sharing class actions, that attempts to convert service providers into fiduciaries.

Lance Wallach - Artcles - 419e 412i, tax shelters, IRS penalties, audits

Lance Wallach - Artcles - 419e 412i, tax shelters, IRS penalties, audits: IRS fines for being in listed transctions of 419e, 412i employee benefit plans, abusive tax shelters - tax shelters, "tax shelter fraud", 419e, 412i, 419, 412,irs audits, irs penalties, 6707a, 6707

As an expert witness Lance Wallach side has never lost a case: Lance Wallach

As an expert witness Lance Wallach side has never lost a case: Lance Wallach: Lance Wallach An organization to help those harmed by the IRS, don't let what happened to Bruce happen to you

Help with Common IRS Problems

Tuesday, March 11, 2014

Listed Transactions & 419 Plans Litigation: Have You Dealt With Any Of These People?Kenny Ha...

Listed Transactions & 419 Plans Litigation: Have You Dealt With Any Of These People?

Kenny Ha...: Have You Dealt With Any Of These People? Kenny Hartstein         Dennis Cunning          Steve Toth Larry Bell                   Scott Rid...



Two federal regulatory agencies are in hot pursuit of a shadowy hedge fund figure and various companies associated with him, claiming they pumped millions into Bernard Madoff feeder funds and other unsuccessful investments, then lied about the losses.



On Sept. 7, both the Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission filed actions in the federal Northern District of Illinois against Nikolai S. Battoo, 41, who apparently has most recently operated in Florida.



In announcing its action, the SEC said Battoo has run numerous hedge funds and claims to manage $1.5 billion for investors worldwide, including at least $100 million in the United States.



Battoo has gathered “tens of millions of dollars” in investments since 2009, all the while losing millions more, the SEC also said in a detailed, 32-page complaint.



He has managed money through a series of companies including BC Capital Group, of Panama, and BC Capital Group Limited, which is believed to be run from Hong Kong. He also manages several hedge funds and is “senior advisor” for an outfit called Private International Wealth Management, and is thought to be affiliated with FuturesOne LLC, a commodities pool located in Lincoln, Neb.Have You Dealt With Any Of These People?



Kenny Hartstein Dennis Cunning Steve Toth

Larry Bell Scott Ridge Randall Smith

Greg Roper Tracy Sunderlage Joseph Donnelly

Norm Bevan Michael Sonnenberg Judy Carsrud

Michael Carroll Anthony Fakouri

Steve Burgess Tom Crosswhite 

Wednesday, August 22, 2012



Have You Dealt With Any Of These People?



Kenny Hartstein         Dennis Cunning          Steve Toth

Larry Bell                   Scott Ridge                 Randall Smith

Greg Roper                Tracy Sunderlage       Joseph Donnelly

Norm Bevan                Michael Sonnenberg  Judy Carsrud

Dan Carpenter            Michael Carroll           Anthony Fakouri

Steve Burgess            Tom Crosswhite







Than You Should Know:



The dangers of being "listed"A warning for 419, 412i, Sec.79 and captive insurance

As published in:AccountingToday: October 25, 2010By: Lance Wallach

Taxpayers who previously adopted 419, 412i, captive insurance or Section 79 plans are in big trouble.



In recent years, the IRS has identified many of these arrangements as abusive devices to funnel tax deductible dollars to

shareholders and classified these arrangements as "listed transactions."

This Can Happen to You - HGExperts.com

This Can Happen to You - HGExperts.com: Several years ago at the advice of an accountant or investment advisor a client adopts a defined benefit plan for her business. She did so because she had been advised that under this type of plan she

(16) LinkedIn

(16) LinkedIn

We wrote the book on life insurance

We wrote the book on life insurance: he Lance Wallach advantage is credibility, experience & trust !!

Many advisory firms offer financial planning and investment services, but
the difference is that Lance Wallach wrote the books on Life Insurance,
and Financial & Estate planning that the other consultants learned from!

If you want to sleep soundly at night, don't go to the students for your
financial answers, go to the one who teaches them, Lance Wallach!

For the past 25 years, successful businesses and individuals have turned
to Lance Wallach and his team for assistance, and they are glad they did!













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His research and insights have proved right on the
money!”
February 21, 2011
Debra Rothberg,

“Lance is extraordinarily intelligent. He has few
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unhesitatingly recommend Lance.”
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May 27
Larry Wilconsin,

“Lance is a true expert on VEBA Plans. Five years ago,
he took the call of a total stranger, and in doing so, he
spent an hour helping me solve my client's problem.
During the past five years Lance consistently proven to be
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