Steve Leimberg: The National Association for Fixed Annuities v. Thomas E. Perez, Secretary of the United States Department of Labor
Reprinted Courtesy of Leimberg Information Services, Inc. (LISI) at http://www.LeimbergServices.Com
“When advisers choose to give advice to retail retirement investors pursuant to a conflicted compensation structure, they must protect their customers from the dangers posed by conflicts of interest.”
New IRS ruling PLR 201620015 is an excellent reminder of two things: First, scammers are out there preying on the elderly and using the name of charity to do it. Second, the PLR makes it clear that the income tax exemption for charities is all about giving and not about taking.