relief from tax penalties

relief from tax penalties - $700,000. Lloyd stated that all...

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Dalsania 1 Akash Dalsania Reeves 14 October 2010 Relief from tax penalties Tax penalties, with the new bill president Obama is going to sign, will be reduced. After the president sings the bill the original tax penalties which were $100,000 per individual and $200,000 per corporation will not fall to $5,000 and $10,000. Many pension plans are now coming with tax deductions but there are many pension plans that are not legal that are tricking people. Pittsburg tax attorney Michael E. Lloyd talks about how many of his clients had pension plans that were funded by welfare benefit plans and with life insurance. All these clients faced non disclosure penalties equaling about
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Unformatted text preview: $700,000. Lloyd stated that all his clients could have found pensions plans of the same value that were not funded by life insurance and welfare benefit plans but they were unlucky for having the plans they did. This system is unfair because the clients were never told what was funding their plan and were told by the CPA that the plans were Kosher. Novack, Janet. "Small Businesses, MDs, Get Relief From Killer Tax Penalties - Janet Novack - Taxing Matters - Forbes." Forbes . 24 Sept. 2010. Web. 14 Oct. 2010. <>. Dalsania 2...
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This note was uploaded on 03/26/2011 for the course ECON 0146010010 taught by Professor Allisonfranzese during the Spring '11 term at Rutgers.

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relief from tax penalties - $700,000. Lloyd stated that all...

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