Form 8886 and 419 Plans Litigation,
412i and 419e plans litigation, IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.
The Truth About Section 79 Permanent Insurance PlansSection 79 plans are a part of the employee benefit section of the Internal Revenue Service code (IRC). This code (IRC code Section 1.79) has been a part of the IRC since it was initially adopted in 1953. The President of the United States at that time was Dwight D. Eisenhower.Section 79 permanent insurance plans are sold within the United States by large national life insurance companies, all of whom have internal legal and compliance departments whose role is to ensure that the products sold by those companies are legal and comply with the rules and spirit of the law. Section 79 permanent insurance plans are sold legally in all 50 states of these United States of America. For the protection of consumers, each state has an insurance department that reviews and approves all company and agent licensing and products sold within that state. (see National Association of Insurance Commissioners at this link). So, here’s the truth about Section 79 Permanent Insurance Plans:• This is a legal insurance product, covered in the IRS Code number 1.79.• All group life insurance is covered under this IRS Code. Most governmental agencies, non-profit organizations and large Fortune 1,000 companies have section 79 as an employee benefit.• This is not a new code. The IRC 1.79 has been in the code since 1953.• All Section 79 products are fully vetted by major national insurance companies, their lawyers and compliance staffs, for sale in all 50 states. These are companies with long and successful histories of selling insurance products in the United States since the mid-1800’s.• Every state insurance department has fully vetted these Section 79 products and approved them for sales in their states. These products are legal for sale in all 50 states.• Section 79 plans are not “listed transactions.” Here is a list of all listed transactions according to the IRS – http://www.irs.gov/Businesses/Corporations/Listed-Transactions---LB&I-Tier-I-IssuesNo need to be fearful over the innuendo of an internet spammer. For REAL information about Section 79 plans, contact Business Planning Group at (888)545-2205 or visit our website at BusinessPlanningGroup.com/truth .
Follow us on TwitterView our profile on LinkedIn 200K Report Lance Wallach 419, 412i, Section 79, Captive InsuranceIn This Issue...Warning!_419,412i,Sec. 79Small Business Retirement Plans Fuel Litigation419,412i,Captive InsuranceThe Dangers of being "listed"If you are suffering from "tax problems" regarding "welfare benefit plan audits" and need 412i and "419 plan help", assistance with captive insurance, Section 79 plans, listed or reportable transactions, or IRC 6707A, you need Lance Wallach's "expert witness testimony" on your side. Warning! Taxpayers Who Have Adopted 419, 412i, Sec. 79 and Captive Insurance Plans Beware. Mahany Warning! Taxpayers Who Have Adopted 419, 412i, Sec. 79 and Captive Insurance Plans Beware. The Internal Revenue Service has declared an all out war on what they deem as fraudulent tax shelters.