IRS to Audit Sea Nine VEBA Participating Employers

Williams Coulson tax attorney Mike Lloyd to discuss IRS audit of Sea Nine participating employers

In recent months, Williams Coulson tax attorneys have represented participants in the Sea Nine VEBA and have learned that the IRS may be auditing many more participating employers in the coming months.  To better assist current Sea Nine clients and those that are now or may be under audit in the future, Williams Coulson employee benefits tax attorney Mike Lloyd will host a conference call to discuss the Sea Nine VEBA and answer the following:

•     What is the IRS’s position with respect to the Sea Nine VEBA?

•     What will be the likely result of my audit?

•     What if I don’t agree with my audit results?

•     What are other participants doing with respect to the audits?

•     Will the IRS impose interest and penalties?

•     What is a “listed transaction” and is the Sea Nine VEBA a listed transaction?

•     What is Form 8886, and what are the penalties for failing to file Form 8886?

•     Will I be responsible even if I relied on my tax advisor?

•     What recourse do I have against those that promoted and sold the Sea Nine VEBA?

The conference will be at 3:00 p.m. E.S.T. on November 22, 2011.

Please contact Shirley Garvey at or 412-454-0253 for call-in instructions.

Mike Lloyd and the attorneys and staff at Williams Coulson have represented more than 500 participants in Sea Nine and other benefit plans.  In addition, Mr. Lloyd regularly speaks on VEBAs and other employee benefit matters.  Please do not hesitate to contact us should you have any questions concerning the Sea Nine VEBA.