| Even plan administrators pleaded for help, but thousand of people got IRS audits, fines and penalties anyway. |
| See an excerpt from an email by a plan administrator frustrated with IRS activities below |
To: Everyone I know!
It could be you.
I am a Third Party Administrator and am asking for your help. One of my clients with 4 employees who simply funded
a retirement plan with $500,000 recently endured a 5.5 year IRS audit of his 412 (i) pension plan. Upon completion
of the audit the client owes $55,000 in income taxes for 2004-2006 and has refunds from 2007-2008 of $55,000
(timing difference only) He owes about $30,000 in blackmail money (He really should owe nothing!). The SBSE
income tax agent has threatened to assess $800,000 in penalties under Code Section 6707a. The IRS is far
exceeding their authority in assessing the 6707a penalty this is totally prosecutorial abuse. WE must put a stop to
this! My client cooperated and acted in good faith and did file the form 8886 (Maybe not 100% correctly but none
the less, he did file the necessary forms).……
Dennis Cunning
It could be you.
I am a Third Party Administrator and am asking for your help. One of my clients with 4 employees who simply funded
a retirement plan with $500,000 recently endured a 5.5 year IRS audit of his 412 (i) pension plan. Upon completion
of the audit the client owes $55,000 in income taxes for 2004-2006 and has refunds from 2007-2008 of $55,000
(timing difference only) He owes about $30,000 in blackmail money (He really should owe nothing!). The SBSE
income tax agent has threatened to assess $800,000 in penalties under Code Section 6707a. The IRS is far
exceeding their authority in assessing the 6707a penalty this is totally prosecutorial abuse. WE must put a stop to
this! My client cooperated and acted in good faith and did file the form 8886 (Maybe not 100% correctly but none
the less, he did file the necessary forms).……
Dennis Cunning
 |  |  |  |  |  |  |
| Call 516 935-7346 |
| Call 516-935-7346 |
No comments:
Post a Comment