NYC Tax Advocates

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Specializing in IRS and NYS Tax Representation. Workers Compensation Audits, Payroll, Sales and Income Tax representation for Businesses, Individuals, Restaurants and Construction Companies. Civil and Criminal Workers Comp Audit representation includes: NYSIF Examinations, Premium Disputes, Employee Misclassification, Underreporting, Unreported Income, and Failure to Keep Accurate Payroll Records.
Showing posts with label #Honest_Accountant. Show all posts
Showing posts with label #Honest_Accountant. Show all posts

Friday, June 19, 2020

RED PILL Tax Implications of ALIMONY & SUPPORT Payments



Divorce or separation instruments after 2018 Amounts paid as alimony or separate maintenance payments under a divorce or separation instrument executed after 2018 won't be deductible by the payer. Such amounts also won't be includible in the income of the recipient. The same is true of alimony paid under a divorce or separation instrument executed before 2019 and modified after 2018, if the modification expressly states that the alimony isn't deductible to the payer or includible in the income of the recipient.

Just the Facts Depending on the length of your miserable marriage [which crashed, burned, and ended in divorce] you may be required to make Alimony or Separate Maintenance payments to your Ex-spouse for a long and unpleasant period following your “not so amicable divorce”. On the lighter side, if you had a short-term marriage, viz. the fabled “starter marriage” the period for which you’ll be ponying over these payments is usually nonexistent or alternatively,  reasonably short (and a very good indication of your divorce attorneys skill or serious lack thereof). Conversely, after suffering the indignity that comes from dissolving a "long-term marriage" you may be required to fork over alimony payments for as long as your Ex-spouse lives [or remarries] but don’t count on the latter happening because the marriage market for post-wall 2 and 3 time losers is worse than abysmal, that is to say, it's nonexistent. 

Dealing with today’s Tax Law: The old rules were reasonable inasmuch as they allowed the “Payor” a/k/a Big Daddy Warbucks, to deduct his/her alimony payments from his/her Gross Income. But that’s all over Rover. In fact, the amounts you'll be paying in alimony or separate maintenance payments under a divorce or separation agreement (executed after 2018) are no longer deductible by the Payer (that's you) or taxable to the recipient (that's her). It's just like the tax treatment of child support. And given the exponential proliferation of unwed and single mommies, and the importance of their vote, child support payments are not [and will never be] deductible by the Payer (you) or taxable to the recipient (her). 

Without Effective Tax Representation 
The Deck is Stacked Against You

3 Points the IRS Considers

1.    History of noncompliance: Have you been flouting our tax laws? It’s never to late to get into compliance. Unfortunately, getting right with the law can be complicated. Word to the Wise, make the right move and speak with a licensed tax attorney and tax accountant at Selig & Associates.  

2.    Effect enforcement has on others: The IRS is cracking down on non-filers, under-reporters, tax evaders and cheats. Accordingly, if you’re caught breaking the rules, the IRS will make a serious example out of you (regardless of your ability to pay). 

3.   Anticipated revenue. How much money can the IRS actually get out of you? Don’t even go there. If pushed far enough, the IRS will take practically everything you own (including your freedom).  




Friday, January 24, 2020

IRS Offers in Compromise “FOOLS RUSH IN”




If accepted, an IRS Offer in Compromise will let you to settle your tax debts for less than you actually owe. Sounds good? Of course it does! And if you’re in trouble with the IRS (or more apropos, if you just don’t want to pay one-hundred cents on the dollar) those nonstop radio and television commercials can get pretty tempting. 

So with a swelling tsunami of false hope and enthusiasm PT Barnum smiles and a sucker is born. You pick up the telephone and call an out-of-state company, and like two ships that collide in the night, two fraudsters find each other. In other words, you sell an unseen salesman your bill of goods - and he reciprocates by selling you on a bogus Offer in Compromise

Never mind that it won’t work, you forge foolishly ahead telling yourself that “it’s worth a try” and other silly sentiments. Conversely, if you’re serious about an offer in compromise, you should find out if you even qualify – Say what? That’s right Sunshine. There are certain “carved in stone” requirements that you must satisfy prior to filing an offer in compromise. And all of this information is readily available on the IRS’s website (as is an online pre-qualification test to determine if you’re even eligible or just wasting everyone’s time).    

At Selig & Associates, we do things differently. That is to say, we meet with each and every client personally. We’re committed to helping our clients, says Attorney Bradley Dorin. And unlike those out of state companies, our fees are reasonable, agreed David Selig. If you’re in trouble with the IRS or New York State, call Selig & Associates to schedule a FREE face-to-face, legally privileged consultation. 

Friday, December 27, 2019

Tax Debts and Bankruptcy. Selig and Associates



If you have Tax Debt, and you’re contemplating Bankruptcy, there are 3 important rules your Attorney and Accountant need to know: 
1.     Bankruptcy must be filed more than 3 years after your tax return was due a/k/a “the 3 Year Rule”

2.     Bankruptcy must be filed more than 2 years after your tax return was filed, a/k/a “the 2 Year Rule”


3.     Bankruptcy must be filed more than 240 days after the IRS assessed your tax liability, a/k/a “the 240 Day Rule”



Tax Representation, Advocacy and Strategic Tax Planning

Free Consultation: Federal Tax Practitioner, CPCU and Attorney. We provide our Clients with successful Federal and State Tax Representation and Tax Planning services. Legally privileged consultations are available Tuesday through Friday in our New York City offices. 

Tax Representation: Specializing in unpaid Income, Sales and Payroll taxes. We negotiate excellent Payment Plans, Audits, Offers in Compromise, and all other tax matters. Proven results. Practicing before the Internal Revenue Service and the New York State Department of Taxation and Finance. Speak with us directly (212) 974-3435 or contact us online.

Tax Advisors: Our Consulting and strategic Tax Planning services are designed to help Business Owners protect their assets and significantly reduce their income tax liability in 2020. 

W/C & NYSIF Assessments: We help Construction Companies with Workers Compensation Audits and NYSIF Premium Assessment Disputes, including Employee Misclassification, Unreported Income, Application Fraud, Experience, Rating and all other Workers Comp violations. Call us directly (212) 974-3435 to schedule a Free Consultation.
 
Expedited Service: Unfiled Tax Returns? We can have your missing Tax Returns prepared and filed within 48 hours, guaranteed. Do you need to establish a new Corporation, LLC or S-Corp? We can help. All States. Contact us directly for immediate assistance. 


Friday, March 1, 2019

Tax Preparer Indicted for Preparing False Tax Returns and Identity Theft



A Gaithersburg, Maryland, woman had her initial appearance today on an indictment charging her with ten counts of aiding or assisting in the preparation of false or fraudulent tax returns, one count of mail fraud, and one count of aggravated identity theft, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Justice Department’s Tax Division and U.S. Attorney Robert K. Hur of the District of Maryland. 
“The Department of Justice will prosecute fraudulent tax return preparers and protect honest taxpayers whose identities are ensnared in tax return schemes,” said Principal Deputy Assistant Attorney General Zuckerman.
“While most tax return preparers provide excellent service to their clients, unscrupulous return preparers give the industry a black eye. IRS-CI works year round to investigate deceitful return preparers and to protect the American taxpayers’ money and personal identification information,” said Kelly R. Jackson, Special Agent in Charge, IRS Criminal Investigation, Washington, D.C. Field Office.
According to the indictment, Maria Espinal owned and operated a tax return preparation business located in Gaithersburg, Maryland.  From at least 2012 through 2016, Espinal allegedly prepared and filed fraudulent tax returns on behalf of her taxpayer-clients with both the IRS and the Comptroller of Maryland.  To generate a refund to which the client was not entitled, Espinal is alleged to have manipulated and altered Forms W-2 in the names of third parties, without their permission or authority, by replacing the listed employee’s name with Espinal’s client’s name. She would then report the third party’s wages and withholdings as those of her own clients in order to generate a fraudulent federal and state tax refund.
If convicted, Espinal faces a maximum sentence of three years in prison for each count of aiding and assisting in the filing of false returns, 20 years in prison on each count of mail fraud, and a statutory minimum sentence of two years in prison for aggravated identity theft.  Espinal also faces potential fines, restitution, and forfeiture. 
An indictment is not a finding of guilt. Individuals charged in indictments are presumed innocent until proven guilty beyond a reasonable doubt.
Principal Deputy Assistant Attorney General Zuckerman and U.S. Attorney Hur thanked Trial Attorney Carl F. Brooker, IV of the Tax Division and Assistant United States Attorney Ray McKenzie, who are prosecuting the case.

Free Consultation We Solve Tax, Business and Insurance Problems. To speak with an experienced Federal Tax Practitioner and Attorney call (212) 974-3435 or contact us online. Don't delay another day. Meet with us personally in our conveniently located New York City office. 

Restaurants We specialize in unpaid sales taxes, installment agreements, audit representation and all Department of Labor issues. For immediate assistance call (212) 974-3435 or contact us online. 

Contractors We specialize in payroll and withholding taxes, installment agreements, audit representation and Workers Compensation insurance audits. To schedule a free consultation call (212) 974-3435 or contact us online. 

Wednesday, December 5, 2018

Man Sentenced to Prison for Filing False Retaliatory Lien & Making a False Tax Refund Claim (torn from the pages of the Tax Protestor’s Playbook)



Falsely Claimed Federal Judge, Prosecutor, IRS Employees and Others Owed Him Millions 

A man was sentenced to 30 months in prison for filing a fraudulent multi-million dollar lien against a government employee and filing a false claim for a tax refund, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Justice Department’s Tax Division. 
According to court documents, Brian Leo Snow failed to pay his federal tax liabilities for the years 2000 - 2008 and then became the subject of collection activity by the Internal Revenue Service (IRS). After being held in contempt of court for failing to provide documents and records to the IRS, Snow filed false retaliatory liens claiming that various government officials, including an IRS revenue officer, an Assistant United States Attorney, a United States District Court Judge, and the Clerk of Court for the Eastern District, owed him millions of dollars. Each of these government officials had been involved in attempts to collect Snow’s back taxes.  Snow also filed three false claims with the IRS claiming over $144 million in tax refunds to which he was not entitled.  Snow owes the IRS over $150,000 in taxes for tax years 2000-2008 and 2014-2015.
In addition to the term of imprisonment imposed, Snow was ordered to serve three years of supervised release and pay $154,025 in restitution to the IRS. 
Principal Deputy Assistant Attorney General Zuckerman commended special agents of the offices of the Treasury Inspector General for Tax Administration and IRS Criminal Investigation, who conducted the investigation, and Tax Division Senior Litigation Counsel Jen E. Ihlo, who prosecuted the case.

Aggressive New York City Tax Advocates We Solve IRS and New York State Tax Problems, Guaranteed. Specializing in Income, Payroll and Sales Tax Issues. IRS Audits, Sales Tax Audits, Unpaid Payroll Taxes, Trust Fund Penalties, Criminal Tax Investigations and Tax Crimes, Installment Agreements and Payment Plans, Offers in Compromise and most other Tax Matters. For a Legally Privileged Consultation with a Federal Tax Practitioner and Licensed Attorney Call (212) 974-3435 or Contact Us Online. 
Income, Payroll and Sales Taxes. 
Suspended Passport and Drivers License. 
Missing Tax Returns Prepared and Filed within 48 Hours. 
IRS Liens, Levies and Wage Garnishments. 
NYS Tax Warrants. 
Income and Sales Tax Audits. 
Payroll and Trust Fund Recovery Penalties. 
Criminal Investigations and Tax Crimes including Tax Evasion. 
Offers in Compromise and all other Tax Matters. 
We Negotiate Excellent Installment Agreements and Monthly Payment Plans


Monday, November 26, 2018

Important Questions & Answers



Q. Do I Have Unpaid Income, Payroll and Sales Taxes? 
A. We Negotiate Excellent Installment Agreements and Payment Plans.

Q. Has My Passport or Drivers License been Suspended? 
A. We’ll Get Your Passport or Drivers License Reinstated. 

Q. Do I have Unfiled Tax Returns? 
A. We’ll Prepare and File Your Tax Returns in 48 Hours.

Q. Is the IRS or NYS Levying My Bank Account and and Garnishing My Wages? 
A. We’ll Get the Levies Released for You. 

If You Answered Yes to Any of These Questions, Call (212) 974-3435 for a Free No Obligation Consultation. 



Selig & Associates Aggressive New York City Tax Advocates We Solve IRS and New York State Tax Problems, Guaranteed. Specializing in Income, Payroll and Sales Tax Issues. IRS Audits, Sales Tax Audits, Unpaid Payroll Taxes, Trust Fund Penalties, Criminal Tax Investigations and Tax Crimes, Installment Agreements and Payment Plans, Offers in Compromise and most other Tax Matters. For a Legally Privileged Consultation with a Federal Tax Practitioner and Licensed Attorney Call (212) 974-3435 or Contact Us Online. 
Income, Payroll and Sales Taxes. 
Suspended Passport and Drivers License. 
Missing Tax Returns Prepared and Filed within 48 Hours. 
IRS Liens, Levies and Wage Garnishments. 
NYS Tax Warrants. 
Income and Sales Tax Audits. 
Payroll and Trust Fund Recovery Penalties. 
Criminal Investigations and Tax Crimes including Tax Evasion. 
Offers in Compromise and all other Tax Matters. 
We Negotiate Excellent Installment Agreements and Monthly Payment Plans

To Schedule a Legally Privileged Consultation with a Federal Tax Practitioner and Licensed Attorney Call (212) 974-3435 or Contact Us Online. 

Monday, November 19, 2018

Former IRS Employee Sentenced to Prison for Aggravated Identity Theft

She Used Information Supplied by Taxpayers to File Fraudulent Returns

A former employee for the Internal Revenue Service (IRS) was sentenced to serve 24 months in prison for aggravated identity theft, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Justice Department’s Tax Division and U.S. Attorney Byung J. 

According to court documents, Stephanie Parker worked for the IRS as a Contact Representative.  Between September 2012 and March 2013, taxpayers called into the IRS for assistance, and Parker handled the taxpayers’ inquiries.  During the calls, Parker obtained the taxpayers’ Social Security numbers and addresses.  On at least five occasions, Parker used the taxpayers’ personal information to electronically file fraudulent tax returns in their names without their authorization.  Parker directed the fraudulent tax refunds to bank accounts controlled by her friends.  Parker, in turn, had the money withdrawn from at least one of those accounts, deposited a portion of the money into her own bank account, and used it for personal expenses.
In addition to the term of imprisonment imposed, Parker was also ordered to serve one year of supervised release and to pay $5,964 in restitution to the IRS.
Selig & Associates Aggressive New York City Tax Advocates We Solve IRS and New York State Tax Problems, Guaranteed. Specializing in Income, Payroll and Sales Tax Issues. IRS Audits, Sales Tax Audits, Unpaid Payroll Taxes, Trust Fund Penalties, Criminal Tax Investigations and Tax Crimes, Installment Agreements and Payment Plans, Offers in Compromise and most other Tax Matters. For a Legally Privileged Consultation with a Federal Tax Practitioner and Licensed Attorney Call (212) 974-3435 or Contact Us Online. 



Friday, November 2, 2018

Tax Department to New York "We're Just Following Orders!" Next Stop Nuremberg (Better call Selig and Associates)






Sad but true, the New York State Department of Taxation and Finance has unilaterally decided that New Yorkers must pay excessive penalties – even when they’re not at fault. Specifically, the Tax Department recently announced “Reliance on the advice of an accountant is no longer acceptable as reasonable cause for abatement of penalty” Apparently taking away people’s drivers licenses wasn’t enough, and as such, the State felt it should also circumvent your right raise an affirmative defense. 

Selig & Associates - NYC's Most Effective Tax Advocates We Solve Income, Payroll and Sales Tax Problems. IRS and State Tax Representation includes Sales Tax Audits, Unpaid Payroll Taxes, Criminal Investigations, Installment Agreements and other Tax Matters. For a Legally Privileged Consultation with a Federal Tax Practitioner and Licensed Attorney call (212) 974-3435 or Contact Us Online. 

Monday, September 17, 2018

What is a PUBLIC ADJUSTER and why do I need one?



Is Your Insurance Company Taking Advantage of You? Public Adjuster Selig and Attorney Dorin settle residential and commercial property insurance claims, including business interruption, burglary, fire, windstorm and losses caused by water damage. For more information call David Selig at (212) 974-3435.

public adjuster is a professional claims handler/ claims adjuster who advocates for the policyholder in appraising and negotiating a claimant's insurance claim.[1] Aside from attorneys and the broker of record, state licensed public adjusters can legally represent the rights of an insured during an insurance claim process. Their technical expertise and ability to interpret sometimes ambiguous insurance policies allow property owners to receive the maximum amount of indemnification for their claims. Although seen many times as adversarial by the Carriers, public adjusters do (almost always) substantially increase the settlement value of the loss. Many professionals, and persons who are either incapable due to education, age, or physical impairment, choose public adjuster representation to guide them through the process and minimize the time which must be spent to perfect their claim. Most public adjusters charge a percentage of the settlement like general contractors who add (10/10) to the total repair cost to cover overhead and reasonable profit. Primarily public adjusters prepare detailed scope and cost estimates many times using experts in the fields of remediation, toxicology, and construction engineers to prove their loss. Public adjusters also provide insurance policy interpretation to determine covered and uncovered items and to negotiate with the insurance Carrier to a final and fair settlement.[2]
A public adjuster is a representative of the policyholder who advises, manages, and submits a claim to the policyholder's insurance company. 
There are three classes of insurance claims adjusters: staff adjusters (employed by an insurance company or self-insured entity), independent adjusters (independent contractors hired by the insurance company) and public adjusters (employed by the policyholder). "Company" or "independent" adjusters can only legally represent the rights of an insurance company.[3]
Outside the United States adjusters are commonly called (or translated into English as) "insurance loss assessors" (or simply "loss assessors") and staff adjusters or independent adjusters are called or translated as "insurance loss adjusters" (or simply "loss adjusters").[4]However, there is a clear distinction between a loss adjuster, who works on behalf of an insurance company, and a loss assessor who works on behalf of a policyholder.

Currently, 44 states (and the District of Columbia) have in place some form of statutory and/or regulatory scheme which licenses public adjusters. The states that do not are: Alabama, Alaska, South Dakota, and Wisconsin.[5] In addition, it is important to note that on October 14, 2005, the National Association of Insurance Commissioners (NAIC) adopted the Public Adjuster Licensing Model Act (MDL-228), which governs the qualifications and procedures for the licensing of public adjusters.[6] It defines a public adjuster as "any person who, for compensation or any other thing of value, acts on behalf of an insured", specifies the duties of and restrictions on public adjusters, including regulations for the following: examination, bond or letter of credit, continuing education, public adjuster fees, contracts, record retention, and standards of conduct. In addition, the model act states that public adjusters may only act or aid on the benefit of the insured in first-party claims.[7]
Holding a license in one state only permits the licensed to practice in that state. Although the regulations vary from state to state, the model act states that a non-resident can obtain a license in another state if their home state allows non-residents to apply for a license on the same basis.[7] This reciprocity agreement means that in many cases one can apply for a license in another state without having to pass that state's examination or pre-licensing education requirements.[8] Generally, public adjusters only work with insurance claims related to property damages and the business losses that they trigger such as business income, builders' risk, mechanical and electrical breakdown, extra expense and expediting expense, and leasehold interest. Although it is uncommon for public adjusters to handle health insurance claims, in some states such as Florida they are legally authorized to handle claims in all lines of insurance except life and annuities.[9]

The public adjuster's main responsibilities are to:
  • Evaluate existing insurance policies in order to determine what coverage may be applicable to a claim
  • Research, detail, and substantiate damage to buildings and contents and any additional expenses
  • Evaluate business interruption losses and extra expense claims for businesses
  • Determine values for settling covered damages
  • Prepare, document and support the claim on behalf of the insured
  • Negotiate a settlement with the insurance company on behalf of an insured
  • Re-open a claim and negotiate for more money if a discrepancy is found after the claim has been settled
Typically a policyholder hires a public adjuster to document and expedite their claims, obtain a more satisfactory claim recovery, more quickly, and completely restore their residence or business operations, and insulate themselves from the stress of engaging in an adversarial role with a large corporation. However, the cost of hiring outside experts, no matter how well-earned, can be an added burden when they are borne entirely by the policyholder. The added burden can be alleviated by the work of a public adjuster. However, policy holders who are not properly indemnified by their insurance carriers may be left with little choice but to hire professional assistance to recover the claim payment to which they are entitled.
Public adjusters must be able to recognize claims that may be insubstantial and disputable and explain such problems to the client. The everyday meanings of terms like "collapse", "partial collapse" and "extent of physical damage" might be entirely different from their legal interpretations, requiring the adjuster to clarify such terms for the client.[10] Regulations regarding the uses of these terms are constantly in a state of flux[11] so it is important for public adjusters to have a firm grasp of the law including the division of legal responsibilities between insurance companies and policyholders.

Most public adjusters are paid based on a percentage of the total settlement. For example, one Georgia company states their average fee is 15% based on the type and amount of the insurance claim. However, lower percentages are used for larger losses being claimed under a policy of insurance. Higher percentages are needed for smaller claimed losses. Smaller insurance claims can have similar costs as larger claims, but because the recovery is less on smaller claims the fee range must be adjusted to compensate for the operating costs. All public adjusters are not equal in their abilities to secure policy benefits. Skills of performance can vary significantly between public adjusters ranging from basic to elite expert. Fees of 10% to 12% are ordinary and typical for claimed losses of $100,000 or greater when handled by standard-rated public adjusters. Expert-rated public adjusters get a higher fee than standard-rated adjusters. For example, an expert public adjuster can charge 12% to 15% on a loss that exceeds $100,000. However, superior experts possess capabilities to obtain the most effective results. Therefore, highly qualified adjusters can be expected to be better skilled at achieving a greater increased benefits settlement amount than an adjuster who is not an actual expert. Adjusters who are experts must be classified and registered as an expert by the judicial system. Public adjusters declaring themselves to be experts should be verified, because such notice is not always factual. For those public adjusters who proclaim to be actual experts, it's highly recommended that their credentials be validated to prove such qualifications. Most public adjusters are not court-registered experts, but instead just have claims experience. Experience is often not expertise. 
Some public adjusters charge a flat percentage or a flat fee set price, while others use a regressive scale. It depends, in part, on the State Law where the loss occurred. For example, a regressive scale can be 25% of the first $100,000, 15% between $100,001 and $200,000, and 10% of any amount beyond that. Claims that are less than $50,000 are considered small claim losses. There are Public Adjusters who will not service smaller claims at all, while other public adjusters charge a normal range of a 30% to 35% fee rate for insurance claims with a settlement value that is less than $50,000. Public adjusters can charge a lower fee on the total settlement value of the claim, or they can charge a higher fee on an improved settlement amount that is beyond the initial settlement originally offered by the insuring organization. For example, for a $100,000 loss, a fee can be 12% on the whole claim value, where the cost risk can be a shared expense with the client, but for a lower fee which is a benefit for the client; or alternatively, if the initial settlement was $50,000, then a public adjuster might accept a 25% fee —not on the initial $50,000― but on any additional recovery settlement referred to as "new money", being a partial claim value of an amount which exceeds the initial $50,000 settlement, where fees apply exclusively to only the additional amount recovered. However, this additional recovery method of "new money only" means that the public adjuster assumes all of the cost risk and expense, with no cost risk shared by the client, hence the higher fee. (For a claim not covered by the Policy, the public adjuster could experience a business loss from operating expenses spent on "new money only" claims that are limited to only improved settlement recovery services). There are public adjusters who contract for "new money only" services but charge fees of 40% and 50% to accept that high risk, where any improved settlement benefit, or the new money recovered, is essentially split about evenly between the public adjuster and the client. It's important to note that some states cap public adjuster fees at levels such as 10% or 20%, and some consumers opine that normal public adjuster fees are standardized, citing 10% on any claim regardless of its value. This is not accurate and cannot work. Such limitations can cause public adjusters to avoid helping consumers with smaller claims altogether when the services' costs can actually become a financial loss if not providing a fair, reasonable and necessary business earnings' margin needed by public adjuster firms in order to operate, just as with any business. Most states do not cap fees for this reason, while nearly all states welcome public adjuster services for their insuring public. Professional fees must be adequate for public adjusters to cover operating and business costs while still providing sufficient business income returns on those costs. Higher fees on smaller claims having low recovery values are necessary to provide the adequate compensation that a public adjuster needs to accept the costs of providing full services. 
Regardless of the fee structure, the public adjuster professional fee may, and will likely, be offset by an increase in the settlement amount on a covered claim. In many jurisdictions, the fee structure must be disclosed up front. It is important to note that a public adjuster cannot obtain more than the policyholder is legitimately entitled to, but public adjusters ―especially experts― generally recover a better financial settlement benefit than the fees charged to their clients, thereby leaving their clients with a net financial improvement of benefits recovery after fees are paid. The indemnity promised and provided for by an insurance policy, or the full potential financial recovery value of an insurance claim, is often not obtainable without professional assistance like that which comes from a very capable public adjuster.

Loss Recovery Insurance is an insurance policy devised by Lorega Ltd - which covers the cost of an independent Chartered Loss Adjuster, who acts solely on behalf of the behalf of the policyholder, in preparing, negotiating and settling an insurance claim. Insurers always have the benefit of staff or independent adjusters to act on their behalf, reducing the claim wherever possible. Loss recovery insurance helps level the playing field by providing the policyholder with independent expert advice. Lorega Limited is an Independent Underwriting Agency, based in London, with capacity from Lloyd's and the London Insurance Market, and distributes a number of assistance insurance products which provide expert help, when it is needed, to policyholders in the UK.

While it is not always clear[12] when a policyholder may benefit from hiring a public adjuster, the most benefit is likely to be realized if they are engaged immediately in case of a loss. Shortly after the insurance company receives notice of a loss, an adjuster representing the insurance company will visit the policyholder to gather facts about how the loss occurred, the magnitude of the loss, and the possibility of subrogation. Incorrect, incomplete or inadequately expressed answers to the adjuster's questions may reduce the amount that can be claimed. A public adjuster engaged early in the process, before the fact-finding stage, will have more opportunity to help the policyholder receive a fair settlement for all losses legitimately covered under the insurance policy. However, any time during negotiations with the insurance company and even after a settlement has been received by an insured, a public adjuster may be able to negotiate for a higher amount.


Is Your Insurance Company Taking Advantage of You? Public Adjuster Selig and Attorney Dorin settle residential and commercial property insurance claims, including business interruption, burglary, fire, windstorm and losses caused by water damage. For more information call David Selig at (212) 974-3435.

Selig & Associates is a boutique Tax Representation and Risk Management Firm specializing in unpaid tax obligations and commercial insurance coverage

  Tax Advocacy      Federal Tax Practitioner, CPCU and Attorney. Practicing before the Internal Revenue Service and New York State Departmen...