Tuesday, June 20, 2017
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If the IRS Contacts You...
By Lance Wallach, CLU, CHFC Abusive Tax Shelter, Listed Transaction, Reportable Transaction Expert Witness
Call Lance Wallach at (516) 938-5007
Call Lance Wallach at (516) 938-5007
Keep your mouth shut-take this advice seriously.
If you give the agents any opening, you're dead.
They'll start with soft background questions, but before you know it, will have trapped you. And many questions won't be genuine-that is, the agents already know the answers and are asking only to see if you will lie or confess.
Questions typically asked by agents include:
Have you reported all of your income?
Where are your bank accounts and safe deposit boxes?
Can you tell us about the cars, boats, planes, and real estate that you own?
What is the procedure for reporting sales in your business?
Do you keep a lot of cash on hand?
Who are your business associates?
Have you traveled out of the country recently?
Have you or any of your businesses been audited?
Faced with a barrage of questions from trained agents who show up unannounced, most people fall apart. They either blurt out a confession or a transparent lie within five minutes. This gives the Justice Department the rope to hang them with.
Don't Let that happen to you.
They'll start with soft background questions, but before you know it, will have trapped you. And many questions won't be genuine-that is, the agents already know the answers and are asking only to see if you will lie or confess.
Questions typically asked by agents include:
Have you reported all of your income?
Where are your bank accounts and safe deposit boxes?
Can you tell us about the cars, boats, planes, and real estate that you own?
What is the procedure for reporting sales in your business?
Do you keep a lot of cash on hand?
Who are your business associates?
Have you traveled out of the country recently?
Have you or any of your businesses been audited?
Faced with a barrage of questions from trained agents who show up unannounced, most people fall apart. They either blurt out a confession or a transparent lie within five minutes. This gives the Justice Department the rope to hang them with.
Don't Let that happen to you.
Abusive Tax Shelter, Listed Transaction, Reportable Transaction Expert Witness
Lance Wallach, CLU, CHFC
68 Keswick Lane
Plainview, New York 11803
Plainview, New York 11803
(516) 938-5007
(516) 938-6330
Lance Wallach is the nation's leading expert on 419 and 412i plans, captive insurance, abusive insurance plans, listed transactions, reportable transactions, section 79 plans, IRC 6707A, 8886 form filing, abusive
tax shelters, and more.
Areas of Expertise
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