Section 79 Plans
Articles Portal To Answer Your Section 79 Questions, Problems, Issues
Section 79 plans, listed transactions, reportable transactions, 419e, 412i, and
captive insurance plans are all targets of IRS Auditors.

Learn how to protect yourself by reading these articles, then call for expert help.



Civil and Criminal Penalties - Abusive Tax Schemes

Investors of abusive tax schemes that try to escape their legal tax responsibilities are still liable for taxes,
interest, and civil penalties. Violations of the Internal Revenue Code with the intent to evade income taxes
may result in a civil fraud penalty or criminal prosecution. Civil fraud can include a penalty of up to 75% of the
underpayment of tax attributable to fraud, in addition to the taxes owed. Criminal convictions of promoters
and investors may result in fines up to $250,000 and up to five years in prison.