BizSugar.com › Taxes › How to Get Fined $100,000 by the IRS and Lose Your License - Accountants, Insurance Agents

Many accountants and insurance agents who signed for, gave advice on, or sold many 412i, 419, captive insurance or Section 79 plans are finding themselves not only losing their licenses but being fined huge penalties by the IRS as well. The sad thing is, many of them not only didn't see it coming, but have no idea why this has happened to them. Learn more about the 6707A penalty and what it means for you.