FBAR/OVDI LANCE WALLACH
multinationaltaxesfbarovdi.blogspot.com/
You've visited this page many times. Last visit: 3/24/14
Lance Wallach | Facebook
https://www.facebook.com/lance.wallach
FBAR/OVDI LANCE WALLACH: FBAR Offshore Bank Accounts and Foreign Income Att...
FBAR/OVDI LANCE WALLACH: FBAR Offshore Bank Accounts and Foreign Income Att...: FBAR Offshore Bank Accounts and Foreign Income Attacked by IRS
Mar 4, 2014 - June 30 2014 is the annual deadline for U.S. taxpayers, (including resident aliens) to timely reports of foreign financial accounts for year ending ...
Lance Wallach is on Facebook. Join Facebook to connect with Lance Wallach and others you may know. Facebook gives people the power to share and makes
Subscribe to:
Post Comments (Atom)
As a first step, we must determine whether the client had a loss which is either not covered or which is inadequately covered.
ReplyDeleteOf course, if proper insurance were obtained, then there would be no claim against the broker. This is true even where the insurance company has wrongly denied the claim. The broker's sole responsibility is to obtain proper insurance for the client.
The following are two classic examples of an insurance broker failing to obtain proper insurance coverage:
The client tells the broker to get full coverage for the client's home including flood coverage. The broker obtains a property policy, but he fails to obtain a separate flood policy through the National Flood Program. The broker mistakenly assumed that the regular fire policy covered flood. The client is two blocks from a river, and he has a flood loss when the river overflows. There is no insurance to cover the damage. Therefore, the client would have a claim against the broker.
The client owns two homes, one in Brooklyn and one in New Jersey. Previously, he lived full-time in Brooklyn, but he now lives full-time in New Jersey and rents out the Brooklyn building. The broker fails to change the policy to reflect that the client is not residing at the Brooklyn home. When the client’s Brooklyn home has a serious fire and sustains substantial damage, the insurance company refuses to cover the loss because the policy requires residency within the Brooklyn home. The client has a valid claim to sue the broker.
When a broker fails to obtain adequate insurance, he stands in the shoes of the insurance company. The broker will haves of the case which must be carefully reviewed
As an expert witness, Lance Wallach has never lost a case. Lance Wallach has also written "CPA's guide to life insurance".
ReplyDeleteTax Expert, Author, Expert Witness, Speaker Lance Wallach discussing tax audits, penalties, abusive tax shelters, 412i plans, 419e plans, 6707A plans, insurance fraud, listed transactions, etc. at convention. Contact him at 516-236-8440 for tax advice, audit defense.
http://lancewallachchfc.blogspot.com/
https://www.youtube.com/watch?v=WTMWg6bn0Bc
http://www.section79plan.org/
http://419plans.blogspot.com/2014/03/fbarovdi-lance-wallach-fbar-offshore.html?showComment=1397481910879#c7820180386593901962
click the links for more information
or google Lance Wallach- Lance Wallach Expert Witness- Lance Wallach CPA's Guide to Life Insurance- Lance Wallach As and Expert Witness- Lance Wallach 419- Lance Wallach abusive tax shelters-