Articles


Advisors Staring at a New ‘Slew' of Litigation from Small Business
Clients
The IRS has been aggressive in auditing these 412i and 419e "welfare benefit plans". The
fines for failing to notify the agency about them are $200,000 per business per
year the plan has been in place, and $100,000 per individual.



Get Sued!
The IRS is cracking down on what it considers to be "abusive tax shelters". Many
of them are being marketed to small business owners by
insurance professionals, financial planners and even accountants and attorneys.
IRS Small Business and
Self-Employed Division Will Emphasize
Enforcement Activities over the Next Year
    What follows is a story about Bruce Hink and how the IRS
    fined him $200,000 a year for being in what they called a "listed
    transaction”.  

Dolan Media Newswire
Small Business Retirement Plans Fuel Litigation
IRS Attacks Accountants and Business
Owners - Senate Response
Senator seeks support to scale back the IRS’s assault on
nondisclosure of alleged
"tax shelters" due to constitutional concerns.
Regaining The Lost Confidentiality  
of Off-Shore Trusts
Today, in jurisdiction after jurisdiction, the custodial bank
is required to know who the beneficial owner of the trust is.
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Senior Abuse
Over one third of all cases of financial exploitation of the elderly involve
annuities, according to the North American Securities Administrators
Association, a regulatory group [EM1]. Hundreds of lawsuits have been
filed against insurers over annuity sales to the elderly.
Tax Audit Pros  
The IRS has been auditing most 412(i) "defined benefit" "retirement plans" and all
419
"welfare benefit plans".

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