Hello,
I have a potential client that earns 200k a year and hasn't filed a tax return in over 20 years. The IRS hasn't had any contact with them. Long story short they fall into the group of people that would say the Income Tax isn't constitutional. They don't like the traditional banking system so I have suggested that it might be worth considering over funding a cash value life contract. I realize life insurance isn't going to shield the IRS from the values if it comes down to that.
I'd love to hear your thoughts?
Is it ethical to fund a policy with someones income that hasn't filed a return?
Should I have any personal legal concerns I haven't thought about?
I have a potential client that earns 200k a year and hasn't filed a tax return in over 20 years. The IRS hasn't had any contact with them. Long story short they fall into the group of people that would say the Income Tax isn't constitutional. They don't like the traditional banking system so I have suggested that it might be worth considering over funding a cash value life contract. I realize life insurance isn't going to shield the IRS from the values if it comes down to that.
I'd love to hear your thoughts?
Is it ethical to fund a policy with someones income that hasn't filed a return?
Should I have any personal legal concerns I haven't thought about?