"Life Insurance", 401K", "403(b)", "IRA", or "Life Insurance Settlements" , "QDRO"
"Qualified Domestic Relations Order"), Issues Perplex Consumers
September 2012 -
By "Lance Wallach"

Many insurance professionals now think that the "life settlement" market is ending. Agents assisting their clients in the sale of their unneeded "life
" policies have no doubt been frustrated by the lack of bids in the current life settlement market. It doesn’t help much either when the few
bids that are made are often much less than what they would have been in years past.....
Excerpt from: AICPA CPE Self-Study Course:
Avoiding Circular 230 Malpractice Traps and Common Abusive Small Business Hot Spots, by Sid Kess
Author/Moderator: Lance Wallach, CLU, CHFC,
Publisher: AICPA

The following example is unfortunately not an isolated incident of an
"abusive sales" practice.  If accountants were consulted more often by their
clients, maybe the following would never happen.

Senior citizen clients thought they had every reason to trust Mr. Sell BigPolicy as a financial counselor.  The insurance agent had obtained a
designation recognizing him as WE DO NOT WANT TO MENTION THE NAME Senior Advisor.  He obtained this designation in 2002, a
credential he made sure to advertise on fliers sent to retirees. He did not mention how easy it had been to get that title.......
How to Find the Right Experts to Guide You Through These Times
As seen in The Commercial Flooring Report

by Lance Wallach

These days, business owners have a lot on their plates. Not only do they have  
businesses to run, but they need to have the resources to operate, manage, and
flourish those  businesses in order to stay afloat. Without serious knowledge of things
like finances, taxes, tax audits, and retirement plans, it's hard to keep a shop open for
business and to ensure that your future is in good hands....
Vanguard Recognizes Interest In Annuities
From Financial Advisor Magazine -
September 15, 2013

Vanguard, the Valley Forge, Pa.-based investment company, has launched a Web-based service
that lets individuals compare fixed immediate annuities issued by leading insurance companies.

Vanguard Annuity Access, powered by Hueler Companies’ Income Solutions platform, also
offers deferred fixed annuity quotes. Vanguard joins more than a dozen Web sites listed on
“Google” that provide immediate annuity quotes to investors....
The New Law Guarantees A Substantial Fine

The bill reducing fines for improperly or not filing under 6707A has passed. That sigh of relief you heard last week might have come from people
participating in the plans named above, or anything seeking tax relief that is similar to them – what the IRS calls a listed transaction. People think that
Congress bailed them out of trouble for participation in such transactions, and that the excessive fines that were being imposed are now a thing of the
past. While the situation is certainly better than it was for some people, and while I do not want to rain on anyone’s parade, you are still in
Disasterville, and the next to last bus out just left......
. more
IRS Hiring Agents In Abusive Transactions Group
October 27, 2012

Here it is. Here is your proof of my predictions. Perhaps you didn’t believe me when I told you the IRS was coming after what it has deemed
“abusive transactions,” but here it is, right from the IRS’s own job posting. If you were involved with a 419e, 412i, listed transaction, abusive tax
shelter, Section 79, or captive, and you haven’t yet approached an expert for help with your situation, you had better do it now, before the notices
start piling up on your desk......
Get superior advice from Benefits Advisor articles: BeAdvised -  Everything is not
November 2012

A few years ago, I testified as an expert witness in a case where a physician was in an abusive 40l(k) plan with life insurance. It had a so-called
"springing cash
value" policy in it............
IRS Audits Focus on Captive Insurance Plans
April 2013 Edition

By Lance Wallach

The IRS started auditing § 419 plans in the 1990s, and then continued going after § 412(i) and other plans that they
considered abusive, listed, or reportable transactions, or substantially similar to such transactions. If an IRS audit
disallows the § 419 plan or the § 412(i) plan, not only does the taxpayer lose the deduction and pay interest and penalties,
but then the IRS comes back under IRC 6707A and imposes large fines for not properly filing.
...Read More.
Retirement plans for self-employed workers

By Lance Wallach

Self-employed workers have the same retirement needs as anyone else, and maybe they have more money to invest and
deduct. The problem is that they don’t have a beneficent employer who offers carrots in the form of retirement benefits
so they have to grow their own. Below are a few ideas....
Read More
Where The Real Experts Gather
Read This Information From Our Experts Then Call Us
Get Expert Help to Save You
Money in a Divorce.
Section 79

December 2013

If you are being told by an IMO or insurance company that you need to start selling Section 79 plans so you
can get in the business market and make a bunch of money, resist the sales pitch. If they tell you it’s a can’t-miss
program, have them give you what they think is a good illustration for a client and forward it to me. I’ll expose it for the
nonsense that it is, and then you will understand first hand why you don’t want to sell these plans.
Also, keep in mind that many of your clients might do internet research, find my articles, and ask me for my
opinion. When that happens, I’ll light up the advisors for giving the client bad advice; and it will be difficult, if not
impossible, to recover from such an event to sell the client anything let alone a Section 79 Plan.