Asset Protection 2015: IRS Tax Audits & Lawsuits

I am please to announce the publication of my 13th book, Asset Protection 2015: IRS Tax Audits & Lawsuits.

In Asset Protection 2015 our focus is on the two biggest risks to high net worth investors: IRS tax audits and lawsuits. In both arenas one could lose everything. Consider Kim Basinger, international movie star, who went bankrupt for failing to follow thru on an oral contract or the Estate of Michael Jackson facing a $700m IRS tax bill for failures of tax planning and no asset protection.

For this second edition of Asset Protection 2015 I have brought in two all-stars:

Alan Jampol, Esq, an internationally acclaimed trial attorney who has successfully resolved billion dollar litigation will offer an expansive insight into the myriad of issues faced by those involved in lawsuits in the US.

Steven Piascik, CPA/MT, founder/owner of Piascick, an international tax and accounting firm with clients in 50 US states and 55 countries, along with myself, will focus on the many pitfalls surrounding IRS tax audits.

Our goal as authors is simple, to be “forewarned is to be forearmed”.

Asset Protection planning which is done either after the audit commences or after the lawsuit is filed can lead to unexpected complications (i.e. fraudulent conveyance issues). Both have civil and criminal implications. Like life insurance, if you don’t have it by the time you need it, it’s too late.

Asset protection requires litigation expertise, income, estate and gift tax planning/compliance, and IRS tax audit expertise. It should not to be delegated to well-meaning relatives, friends or significant others who lack the necessary expertise and experience. Asset Protection planning needs to be reviewed vigilantly and implemented timely or the risk is losing everything you own.

In 2013 I wrote a book called Asset Protection: The Gathering Storm. With political and economic problems worldwide the storm is upon us. International investors and high net worth individuals are not immune to global financial catastrophe; rather, in the words of Ernest Hemingway, “bankruptcy happens gradually then suddenly. ”

Asset Protection Planning protects against the following:

1. Lawsuits and claims by 3rd party creditors who may seek pre-judgment “freeze orders” i.e. writs of attachment, restraining orders and injunctions;

2. IRS tax audits, which may include pre-audit asset seizures known as jeopardy assessments;

3. Unexpected life issues: illness, death, divorce, bad investments, family trauma, natural disasters, civil strife and the world wide risk of wars, disease and riots in the streets.

4. Puerto Rico Governor Padilla announced on 6/27/15 that Puerto Rico is in a “death spiral” and cannot pay $73B in debt. Puerto Rico has more muni bond debt per capital than any US state. Puerto Rico bonds have 8 times the face value of debt of Detroit Bonds (remember what happened to Detroit).

Lastly, Asset Protection requires constant vigilance. Investors lose money in many ways: IRS tax audits, lawsuits or bad investments. With the help of trusted professional advisors you can control your investments, your assets, and your entire net worth.

There is making it, and then there is keeping it.

Time to take charge.


  1. Asset Protection 2015: IRS Tax Audits & Law... - 27. Jul, 2015

    […] In Asset Protection 2015 our focus is on the two biggest risks to high net worth investors: IRS tax audits and lawsuits.  […]