IRS

It sounded so good…The promise of a large tax refund can be very seductive. But like anything that seems too good there is usually a catch. During my time with the IRS we would look for large tax returns that could be audited. So what can you do to make sure your tax refund doesn’t [...]

The Internal Revenue Service has recently been auditing 412(i) defined-benefit pension plans.
They are seeking substantial taxes and penalties from what they characterize as “abusive plans,” but they do not regard all 412(i) plans as necessarily abusive. A properly structured and administered 412(i) plan can be an invaluable tax reduction tool for a business, but care [...]