Lance Wallach, CLU, ChFC, CIMC, the National Society of Accountants Speaker of the Year, consults on abusive tax shelters, captive insurance, conservation easements,bitcoin, ,insurance, estate planning, retirement and employee benefit plans,419,412i,section 79 plans and other IRS audit targets etc. As an expert witness his side has never lost a case. Lance Wallach advised thousands of high-income clients including hundreds of famous entertainers and athletes about captive insurance, 419, 412i section 79 and other abusive tax shelters. Lance also counseled famous Wall Street luminaries such as Hugh Downs and Louis Rukeyser, the host of 2 long-running programs Wall Street Week with Louis Rukeyser & Louis Rukeyser’s Wall Street. Speaker at over 50 annual conventions and author for more than 500 publications on tax reduction ideas, abusive welfare benefit and retirement plans, captive insurance companies,abusive tax shelters and conservation easements, cash balance plans, life settlements, premium finance, and more. He is a course developer and instructor for Continuing Professional Education courses administered by The American Institute of Certified Public Accountants. Lance is a prolific author, having written or collaborated on numerous books, including 'The CPA Guide to Life Insurance', published by BISK Education, 'The Team Approach to Tax and Financial Planning', published by the American Institute of CPA s, and most recently 'Protecting Clients from Fraud, Incompetence, and Scams', published by Wiley. He has been hired as an expert witness on some issues of which he speaks about, and to this day, Lance Wallach has never lost a case. Lance Wallach has appeared on radio and TV financial programs, most recently, on National Public Radio and NBC 25. Lance consults on abusive tax shelters like 412i,419, section 79, captive insurance bitcoin, easements, tax shelters and VEBA Plans. Additionally, Lance Wallach's expertise is sought after by the U.S. Securities and Exchange Commission, U.S. Department of Labor, the Enforcement Unit of the IRS The State Inusrance Dept etc.
Captive Insurance And The IRS The IRS continues to heavily scrutinize captive insurance arrangements. Certain captive insurance types have consistently appeared, including in 2019, on the IRS’s “Dirty Dozen” list of tax scams to avoid. Micro-captives in particular have been identified as potential vehicles for illegal tax shelters and the IRS is keen to crack down.
If the IRS believes that a captive insurance company is claiming deductions for non-insurance activities they will litigate. This includes going after captive insurance companies that are claiming unreasonable premium deductions. If the captive insurance company cannot show that they are distributing risk, selling insurance, shifting risk, or whether transactions involved insurance risk then that captive could be a target for the IRS.
Lance Wallach, CLU, ChFC, CIMC, the National Society of Accountants Speaker of the Year, consults on abusive tax shelters, captive insurance, conservation easements,bitcoin, ,insurance, estate planning, retirement and employee benefit plans,419,412i,section 79 plans and other IRS audit targets etc. As an expert witness his side has never lost a case.
ReplyDeleteLance Wallach advised thousands of high-income clients including hundreds of famous entertainers and athletes about captive insurance, 419, 412i section 79 and other abusive tax shelters. Lance also counseled famous Wall Street luminaries such as Hugh Downs and Louis Rukeyser, the host of 2 long-running programs Wall Street Week with Louis Rukeyser & Louis Rukeyser’s Wall Street.
Speaker at over 50 annual conventions and author for more than 500 publications on tax reduction ideas, abusive welfare benefit and retirement plans, captive insurance companies,abusive tax shelters and conservation easements, cash balance plans, life settlements, premium finance, and more. He is a course developer and instructor for Continuing Professional Education courses administered by
The American Institute of Certified Public Accountants.
Lance is a prolific author, having written or collaborated on numerous books, including 'The CPA Guide to Life Insurance', published by BISK Education, 'The Team Approach to Tax and Financial Planning', published by the American Institute of CPA s, and most recently 'Protecting Clients from Fraud, Incompetence, and Scams', published by Wiley. He has been hired as an expert witness on some issues of which he speaks about, and to this day, Lance Wallach has never lost a case.
Lance Wallach has appeared on radio and TV financial programs, most recently, on National Public Radio and NBC 25. Lance consults on abusive tax shelters like 412i,419, section 79, captive insurance bitcoin, easements, tax shelters and VEBA Plans.
Additionally, Lance Wallach's expertise is sought after by the U.S. Securities and Exchange Commission, U.S. Department of Labor, the Enforcement Unit of the IRS The State Inusrance Dept etc.
Captive Insurance And The IRS
ReplyDeleteThe IRS continues to heavily scrutinize captive insurance arrangements. Certain captive insurance types have consistently appeared, including in 2019, on the IRS’s “Dirty Dozen” list of tax scams to avoid. Micro-captives in particular have been identified as potential vehicles for illegal tax shelters and the IRS is keen to crack down.
If the IRS believes that a captive insurance company is claiming deductions for non-insurance activities they will litigate. This includes going after captive insurance companies that are claiming unreasonable premium deductions. If the captive insurance company cannot show that they are distributing risk, selling insurance, shifting risk, or whether transactions involved insurance risk then that captive could be a target for the IRS.