Reportable Transactions Resources
Natural persons who fail
to disclose a reportable
transaction to the IRS
are subject to a $10,000
penalty. Other
nonreporting taxpayers
are subject to a $50,000

The penalties are
increased to $100,000
and $200,000,
respectively, for natural
persons and other
taxpayers who fail to
disclose a reportable
transaction that is a
listed transaction
The IRS Says:
516 - 935 - 7346
Even plan administrators pleaded for help, but
thousand of people got IRS audits, fines and penalties
Email an
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
Call 516 935-7346
Call 516-935-7346