by Brian Mahany It didn’t take long. On July 18th we wrote about the new IRS audit push on captive insurance companies. Unless very carefully crafted, the IRS considers most to be abusive tax shelters. This means big penalties if you misuse one to avoid taxes. Unfortunately, the captive insurance market has attracted its fair […]
Three Types of Welfare Benefit Plan Frauds
[Post updated May 2021] When this post was first written in 2011, welfare benefit plans were a hot topic with the IRS. Huge penalties – up to $200,000 per year, criminal investigations, civil suits and many, many scams. If getting huge fines from the IRS wasn’t enough, several promoters of these plans managed to get […]