Notice 2007-83, Abusive Trust Arrangements
Abusive Trust Arrangements Utilizing Cash Value Life of Insurance Policies Purportedly to Provide Welfare Benefits – 2007-45 I.R.B. 1. Transactions in which different types of trust arrangements that are claiming to be welfare benefit funds.
They are involving cash value life insurance policies which are being promoted to and are used by taxpayers to improperly claim federal income and employment tax benefits (identified as “listed transactions” on October 17, 2007).