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Indexed Universal Life Insurance

Many agents sell indexed universal life insurance dishonestly. IUL are permanent policies which are often sold with exacerbated projection and inflated promises. IUL products have a lot more risk than whole life, and oftentimes that risk is not explained to the prospective insurance buyer. The product is hard to understand and the sales illustrations are […]

Caution Before Filing For Employee Retention Credit (ERC)

The Internal Revenue Service today issued a renewed warning urging people to carefully review the Employee Retention Credit (ERC) guidelines before trying to claim the credit as promoters continue pushing ineligible people to file. The IRS continues to see third parties aggressively promoting these ERC schemes on radio and online. These promoters charge large upfront […]

Abusive Insurance Plans Get Red Flag

Tax Briefs – The IRS in Notice 2007-83 identified as listed transactions certain trust arrangements involving cash value life insurance policies. Revenue Ruling 2007-65, issued simultaneously, addressed situations where the tax deduction has been disallowed, in part or in whole, for premiums paid on such cash-value life insurance policies. Also simultaneously issued was Notice 2007-84, […]

DOLAN MEDIA NEWSWIRES

Dolan Media Newswires 01/22/2010 Small Business Retirement Plans Fuel Litigation Small businesses facing audits and potentially huge tax penalties over certain types of retirement plans are filing lawsuits against those who marketed, designed and sold the plans. The 412(i) and 419(e) plans were marketed in the past several years as a way for small business […]