Lance Wallach Expert Witness

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Lance Wallach
Family
91 followers|94,734 views

Lance Wallach
Shared publicly - Aug 5, 2015

IRS Targeting Section 79 Plans of Southwest Financial Group, Inc. (“SFG)
Jul 16, 2015 IRS audit, IRS audit of Section 79 Plan, IRS audit of Southwest Financial Group plan, Phoenix, representation for Section 79 Plan audit, Section 79 Plan, Section 79 Plan audit, Southwest Financial Group audit, Southwest Financial Plan audit
IRS tax auditor man with a stern or mean expressionInsurance agents and related enterprising people have continually endeavored to concoct plans that make them a great deal of money. And when I say “plans,” I mean welfare benefit plans. These are insurance-based plans that employers can invest money into under the guise that the contributions are tax-deductible; likewise, they are represented as having the benefit of allowing withdrawals at some point in a non-taxable manner.

The IRS has never (as far as we are aware) agreed with one of these Plans. In other words, these types of Plans (and, oftentimes, their promoters) have been subject to extreme scrutiny by the IRS—and this, generally, has included not only an audit of the Plans, but also of participating employers/employees in the Plans.

As if this were not ominous enough (ie. having the IRS audit participating employers/employees), almost invariably, these audits result in a requirement to pay not only back taxes, but overwhelming penalties of various types, as well as interest on these amounts—all of which can be staggering and even life-altering to participants who were innocently trying to plan for retirement.

One of the latest targets by the IRS is Southwest Financial Group, Inc. (“SFG”). SFG is a business located in Phoenix, Arizona, that created and/or promoted a number of “Section 79” Plans. These plans are now the focus of the IRS and their participants are beginning to receive audit notices.

We believe the participating employers/employees in the SFG “Section 79” Plans may have been exposed to severe and significant losses as a result of their participation in these suspect, scheme-based tax shelters. Our firm has handled many cases relating to welfare benefit plans and we have helped a tremendous number of damaged employers and employees. I am confident we can help those damaged by Southwest Financial Group if given the opportunity. If you have any questions regarding this issue, please call our office 
IRS Attacks Business Owners in 419, 412, Section 79 and Captive Insurance Plans Under Section 6707A
finance.toolbox.com
Taxpayers who previously adopted 419, 412i, captive insurance or Section 79 plans are in big trouble.
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3 comments

Lance WallachAug 19, 2015




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CJA and associates 419 412i section 79 scam audits lawsuits

3 of 3 CJA And Associates Reviews
ISSUE NOT RESOLVED
New York City, New York Oct 24, 2012 509 views 33 comments
www.taxaduit419.com for help with 419 plans IRS audits lawsuits of 419 412i captive insurance and section 79 plans|.

California Enrolled Agent

Lance Wallach said...


Home
Home
Profile
People
Collections
Communities
Events
Hangouts
Pages
Settings
Feedback · Tour
Help · Region
Privacy · Terms · Maps Terms


Lance Wallach
Family
91 followers|94,734 views

Lance Wallach
Shared publicly - Aug 5, 2015

IRS Targeting Section 79 Plans of Southwest Financial Group, Inc. (“SFG)
Jul 16, 2015 IRS audit, IRS audit of Section 79 Plan, IRS audit of Southwest Financial Group plan, Phoenix, representation for Section 79 Plan audit, Section 79 Plan, Section 79 Plan audit, Southwest Financial Group audit, Southwest Financial Plan audit
IRS tax auditor man with a stern or mean expressionInsurance agents and related enterprising people have continually endeavored to concoct plans that make them a great deal of money. And when I say “plans,” I mean welfare benefit plans. These are insurance-based plans that employers can invest money into under the guise that the contributions are tax-deductible; likewise, they are represented as having the benefit of allowing withdrawals at some point in a non-taxable manner.

The IRS has never (as far as we are aware) agreed with one of these Plans. In other words, these types of Plans (and, oftentimes, their promoters) have been subject to extreme scrutiny by the IRS—and this, generally, has included not only an audit of the Plans, but also of participating employers/employees in the Plans.

As if this were not ominous enough (ie. having the IRS audit participating employers/employees), almost invariably, these audits result in a requirement to pay not only back taxes, but overwhelming penalties of various types, as well as interest on these amounts—all of which can be staggering and even life-altering to participants who were innocently trying to plan for retirement.

One of the latest targets by the IRS is Southwest Financial Group, Inc. (“SFG”). SFG is a business located in Phoenix, Arizona, that created and/or promoted a number of “Section 79” Plans. These plans are now the focus of the IRS and their participants are beginning to receive audit notices.

We believe the participating employers/employees in the SFG “Section 79” Plans may have been exposed to severe and significant losses as a result of their participation in these suspect, scheme-based tax shelters. Our firm has handled many cases relating to welfare benefit plans and we have helped a tremendous number of damaged employers and employees. I am confident we can help those damaged by Southwest Financial Group if given the opportunity. If you have any questions regarding this issue, please call our office 
IRS Attacks Business Owners in 419, 412, Section 79 and Captive Insurance Plans Under Section 6707A
finance.toolbox.com
Taxpayers who previously adopted 419, 412i, captive insurance or Section 79 plans are in big trouble.
1
Lance Wallach's profile photo
3 comments

Lance WallachAug 19, 2015




Pissed Consumer
Complaints
Categories
For Business
Submit Complaint ›

Login
Sign Up



CJA and associates 419 412i section 79 scam audits lawsuits

3 of 3 CJA And Associates Reviews
ISSUE NOT RESOLVED
New York City, New York Oct 24, 2012 509 views 33 comments
www.taxaduit419.com for help with 419 plans IRS audits lawsuits of 419 412i captive insurance and section 79 plans|.

California Enrolled Agent

Lance Wallach said...


Hartford Life and Annuities Lawsuits
Hartford Life and Annuities 419, 412i, 412(e)(3) Plans Lawsuits

Wednesday, March 11, 2015
Hartford
To: Michael Kalen/HIG Simsbury@HARTFORD_LIFE
Subject: Re: 419 and Sales Goals
cc:
I don't believe timing is valid-none of the industry associations picked up on this. I also feel that we are ahead
of our competitors in understanding and reacting. I to have been receiving several phone calls about this and
understand the concerns. Your decision might be to issue 419A(f)(6) for the rest of this year, report on our
corporate returns, and just not issue anything new next year. The other answer could be allow the client
establish a 419(e) plan. We are at the mercy of our attorneys at this point. Dan M. said he could lose 5-10 mil in
premium if we don't make a decision by Friday. Charlie is also concerned. I would love suggestions on how to
go forward. The other issue that I am concerned about is how material advisor now effects the b/ds?

If we issue, we could be potentially hurting our relationships with our partners.


Please advise-I'll swing by before I leave tonight to discuss if you have time_

John A. Vaccaro
Chief Marketing Officer-Individual Life
Hartford Life
Telephone (860) 843-4250
Posted by Lance Wallach at 9:34 AM
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Labels: 412i, 419Plans, Hartford, Lance Wallach, Lance Wallach Expert Witness
Monday, March 9, 2015
Hartford Life Insurance
www.vebaplan.com
Hartford life insurance company was emailed by lance wallach in 2002 warning that the insurance they put in 419 plans would be audited and problems and lawsuits and they did nothing. As an expert witness lance wallach has never lost a case. Google lance wallach.

412i, 419e plans litigation and IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.
sue hartford life ins and win

Lance Wallach said...


Hartford Life and Annuities Lawsuits
Hartford Life and Annuities 419, 412i, 412(e)(3) Plans Lawsuits

Wednesday, March 11, 2015
Hartford
To: Michael Kalen/HIG Simsbury@HARTFORD_LIFE
Subject: Re: 419 and Sales Goals
cc:
I don't believe timing is valid-none of the industry associations picked up on this. I also feel that we are ahead
of our competitors in understanding and reacting. I to have been receiving several phone calls about this and
understand the concerns. Your decision might be to issue 419A(f)(6) for the rest of this year, report on our
corporate returns, and just not issue anything new next year. The other answer could be allow the client
establish a 419(e) plan. We are at the mercy of our attorneys at this point. Dan M. said he could lose 5-10 mil in
premium if we don't make a decision by Friday. Charlie is also concerned. I would love suggestions on how to
go forward. The other issue that I am concerned about is how material advisor now effects the b/ds?

If we issue, we could be potentially hurting our relationships with our partners.


Please advise-I'll swing by before I leave tonight to discuss if you have time_

John A. Vaccaro
Chief Marketing Officer-Individual Life
Hartford Life
Telephone (860) 843-4250
Posted by Lance Wallach at 9:34 AM
Email This
BlogThis!
Share to Twitter
Share to Facebook
Share to Pinterest

Labels: 412i, 419Plans, Hartford, Lance Wallach, Lance Wallach Expert Witness
Monday, March 9, 2015
Hartford Life Insurance
www.vebaplan.com
Hartford life insurance company was emailed by lance wallach in 2002 warning that the insurance they put in 419 plans would be audited and problems and lawsuits and they did nothing. As an expert witness lance wallach has never lost a case. Google lance wallach.

412i, 419e plans litigation and IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.
sue hartford life ins and win

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