The IRS Is Coming For Tax Shelters
The IRS Is Coming For Tax Shelters Click to read my latest article in VSCPA.com The IRS is cracking down on certain Tax Shelters at […]
The IRS Is Coming For Tax Shelters Click to read my latest article in VSCPA.com The IRS is cracking down on certain Tax Shelters at […]
Achieve large tax and cost reductions by renting a “CAPTIVE” Most accountants and small business owners are unfamiliar with a great way to reduce taxes […]
Micro-captive insurance arrangements: A micro-captive is an insurance company whose owners elect to be taxed on the captive’s investment income only. Abusive micro-captives involve schemes […]
This recently published Forbes article highlights some of the incredible work from the nation’s leading tax expert, Lance Wallach. For years Lance has been helping […]
The IRS has been auditing small captive insurance programs claiming that they are usually not legitimate. IRS officials have urged participants in these abusive micro-captive […]
Lance Wallach’s Upcoming Webinar Learn the best ways to keep yourself, clients, business owners and even attorneys safe from audits. Lance Wallach, tax expert, has […]
Currently, there is a tax provision that allows micro-captive insurance companies – created to provide insurance to small companies that create them – to earn […]
Tax practitioners should be cognizant of the Internal Revenue Service (“IRS”) increasing and focused activity related to micro-captive insurance companies (hereinafter referred to as Captive […]
IRS Audits Micro-Captives Shortly after the Internal Revenue Service once again warned taxpayers to steer clear of unscrupulous promoters selling abusive micro-captives. It is part […]
IRS expands enforcement focus on abusive micro-captive insurance schemes. WASHINGTON — With the October 15 filing deadline quickly approaching, the Internal Revenue Service today encouraged taxpayers […]
Since the time when micro-captive insurance companies were placed on the IRS Dirty Dozen list of tax scams, it has also been identified as a […]
micro-captive transactions, A lawsuit arguing that taxpayers are permitted to challenge a Treasury Department reporting requirement without first violating it defies a measure Congress took […]
Taxpayers engaged in micro-captive insurance arrangements (and re-insurance arrangements) have started receiving correspondence directly from the Large Business and International (LB&I) division of the IRS. […]
The U.S. Department Of Justice Files Suit To Enforce An IRS Summons Against The Delaware Department Of Insurance For Artex Transactions tax shelters. tax shelters. […]
The IRS correspondence received by taxpayers has caused confusion as to how to respond and whether a taxpayer’s micro-captive insurance arrangement will be respected. Taxpayers […]
Captive Insurance Plans.CIC Services has suggested that the Internal Revenue Service’s (IRS) “scare tactics” have left businesses unprepared amid the current COVID-19 pandemic. The captive […]
On April 22, 2020, in a statement made by email to a tax reporter, the IRS announced an extension of the due date to respond […]
The Internal Revenue Service (IRS) has extended the deadline for the micro-captive insurance filing positions from 4 May to 4 June 2020 due to the […]
The IRS announced today that it plans to begin auditing several thousand more taxpayers that have operated section 831(b) or micro-captive insurance companies in the […]
micro-captive insurance audits Anyone who has received an IRS offer to settle a micro-captive insurance audit should immediately consult an experienced tax lawyer to understand […]
Just a few years ago, captive insurance companies were a hot news item in the arcane world of abusive tax shelters.. Group Captives If you […]
The IRS is offering a settlement to up to 200 taxpayers currently under audit for abusive micro-captive insurance transactions following three court wins backing the government’s position.
According to the IRS, nearly 80% of taxpayers who received a time-limited settlement offer elected to accept the settlement terms.
Testimonials – Lance Wallach Few of many testimonials for Lance Wallach Lance Wallach, Thank you very much for providing me with this information. I will review […]
The so-called tax shelter captive insurance companies are under scrutiny by the IRS. This happens when the promoter dummies up the insurance policies and the risks, in […]
Key Issues for Micro-Captive Audits Micro-Captive Audits Micro-Captive Audits Shortly after the Internal Revenue Service again warned taxpayers to steer clear of unscrupulous promoters who sell […]
After many discussions with IRS Representatives, we’ve come to learn that the IRS is opening up captive insurances for audits. Captive Insurance Company If you […]
The IRS continues to heavily scrutinize captive insurance arrangements. Certain captive insurance types have consistently appeared on the IRS Dirty Dozen list. Micro-captives in particular […]
The IRS has now obtained victories in cases involving both forms of small captives