Discussion:LISTED TRANSACTIONS 419 WELFARE BENEFIT INSURANCE PLANS ETC.

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Discussion Forum Index --> Tax Tips --> LISTED TRANSACTIONS 419 WELFARE BENEFIT INSURANCE PLANS ETC.

LanceWallach (talk|edits) said:

9 January 2008
The IRS has named most 419 welfare insurance plans as listed transactions, and some 412i retirement plans. Most accountants do not know about these plans, until their clients try to deduct them. They are sold by most insurance people to your clients. Both the taxpayer and the advisor have to file with the IRS. All of the forms that we have reviewed have been filled out incorrectly, which is almost the same as not filing.

GELENA (talk|edits) said:

27 February 2008
What happened to the VEBA plans that were putting vacation homes in them under the definition of welfare?

Tpasco (talk|edits) said:

24 November 2009
*shudder* I spent a lot of time with a busted welfare plan last spring, it was a mess. And it was set up right at first, just not administered properly and a LOT of time had gone by. Horribleness.

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