IRS has warned taxpayers numerous times to consider exiting these transactions and consult with an independent tax advisor on next steps. The IRS previously issued letter 6336 to those taxpayers identified in having the reportable transaction listed on their return. The letter asks the taxpayer to state whether the captive is discontinued or the last year of deductions taken, or invites them to file a corrected amended return. google Lance Wallach for more.
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IRS has warned taxpayers numerous times to consider exiting these transactions and consult with an independent tax advisor on next steps. The IRS previously issued letter 6336 to those taxpayers identified in having the reportable transaction listed on their return. The letter asks the taxpayer to state whether the captive is discontinued or the last year of deductions taken, or invites them to file a corrected amended return. google Lance Wallach for more.