CoffeeCat
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Sat Feb-20-10 10:29 AM
Original message |
Bank threatens foreclosure; Man bulldozes home |
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Wow, this is an intriguing news clip. Man who was threatened with foreclosure on his $350,000 home, says 'screw you' and bulldozes his home before it's taken over. http://www.kcci.com/video/22610728/index.html
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marmar
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Sat Feb-20-10 10:33 AM
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WriteDown
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Sat Feb-20-10 11:09 AM
Response to Reply #1 |
10. The revolution of the rich who owe taxes and aren't going to take it anymore? |
Fire1
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Sat Feb-20-10 10:33 AM
Response to Original message |
2. Yeah, this came out yesterday. It's on this board somewhere. |
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I thought it was great!!:P
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xchrom
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Sat Feb-20-10 10:49 AM
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stray cat
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Sat Feb-20-10 10:49 AM
Response to Original message |
4. I assume he still owes 350,000 and now has no house to pay toward it? |
TwilightGardener
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Sat Feb-20-10 10:50 AM
Response to Reply #4 |
5. He actually had quite a bit of equity in it. Total dumbass. |
WriteDown
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Sat Feb-20-10 11:08 AM
Response to Reply #5 |
8. He had a TON of equity and he didn't think he should pay taxes... |
DURHAM D
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Sat Feb-20-10 11:13 AM
Response to Reply #5 |
13. A total dumb ass hot head - |
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but at least he didn't drive his bull dozer through a federal office building.
but give him time...
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Hepburn
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Sat Feb-20-10 12:33 PM
Response to Reply #4 |
24. If the house secured the loan.... |
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...and it is a no recourse state, he is off the hook on the loan.
HOWEVER, destroying the security is another issue and most likely is criminal conduct.
But...what jury is gonna side with the fucking bank? :shrug:
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WriteDown
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Sat Feb-20-10 12:42 PM
Response to Reply #24 |
27. Considering the IRS was seizing his assets... |
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Tax court is where he will face his reckoning.
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Hepburn
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Sat Feb-20-10 01:19 PM
Response to Reply #27 |
30. Maybe federal criminal charges on the destruction of the property... |
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...but tax court merely sets the amounts of the obligations, penalties, etc., it has nothing to do with the destruction of property which appears to be done to frustrate a colletion action.
And...if the IRS was at the colletion stage, IMO, they have a sum certain either through a prior tax court proceeding or the default of the tax payer to timely file for the same.
Thus, IMO, it is too late for tax court and, futher, the destruction of property to frustrate a creditor is not a tax court matter.
JMHO
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WriteDown
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Sat Feb-20-10 04:01 PM
Response to Reply #30 |
32. If they find you are trying to hide or eliminating your assets, it is a crime. nt |
proud2BlibKansan
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Sat Feb-20-10 11:00 AM
Response to Original message |
6. He had never missed a payment but the bank foreclosed because of an IRS lien |
WriteDown
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Sat Feb-20-10 11:08 AM
Response to Reply #6 |
9. Yeah, you have to pay your taxes. Life sucks that way. nt |
proud2BlibKansan
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Sat Feb-20-10 11:12 AM
Response to Reply #9 |
11. Then maybe I am confused |
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Is the foreclosure part of the IRS lien? The story gave the impression it wasn't.
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WriteDown
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Sat Feb-20-10 11:12 AM
Response to Reply #11 |
12. More likely he couldn't pay his IRS lien so he stopped paying his mortgage.... |
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You're right that it is not written well though.
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DURHAM D
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Sat Feb-20-10 11:23 AM
Response to Reply #12 |
17. No - he was paying his mortgage. He just wouldn't pay his taxes |
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so the IRS went after his assets.
Given that the taxes were related to his business and given that the IRS was being very aggressive I would guess it was not his personal income taxes they were after but monies he withheld from his employees for state and federal withholding, medicare and social security but did not deposit with the feds.
I hope he goes to prison for a long time.
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WriteDown
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Sat Feb-20-10 11:27 AM
Response to Reply #17 |
19. At some point his mortgage wasn't being paid possibly due to wage garnishments... |
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Looks like his business is also being closed too. You're right about prison of course.
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DURHAM D
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Sat Feb-20-10 11:43 AM
Response to Reply #19 |
21. In the clip I watched he said he never missed a mortgage payment. |
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But that is not the issue I don't believe. The IRS was going after his main asset because they wanted money. The IRS will work with people who owe personal income taxes but they will not mess around if he kept money belonging to his employees.
As I understand it, if an employer withholds monies from their employees and don't deposit it the employee is still liable for the missing funds. Example - Your employer reports on your W2 that you earned $40,000 in 2009 and he withheld $3,500 for your federal taxes. You assume he deposited it with the government. Then you file your 2009 taxes using that $3,500 that you believe to be on deposit with the IRS. But it turns out your employer lied because he took your money but didn't give it to the feds. You (the employee) are still liable for all your taxes and if the $3,500 is not on deposit you have to come up with the money. Note: This happened to a friend of mine who worked for an engineering firm. She had to take a second job to pay her taxes - taxes she thought she had already paid once but her employer took the money and kept it.
Keeping and not depositing employee money will cause the IRS to go crazy and use every means possible to get the employee's money back. Its a good thing.
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WriteDown
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Sat Feb-20-10 12:22 PM
Response to Reply #21 |
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That's a really good rundown of a likely scenario with the IRS. I'm thinking he was probably paying people under the table and his brother turned him in. The IRS doesn't like that much.
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proud2BlibKansan
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Sat Feb-20-10 11:26 AM
Response to Reply #12 |
18. So maybe he CLAIMED he had never missed a payment |
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That seems likely. Reporters are more and more likely these days to just tell one side of the story.
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malaise
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Sat Feb-20-10 11:03 AM
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DisgustedInMN
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Sat Feb-20-10 11:14 AM
Response to Original message |
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Nice to see someone stand up to the fucking criminal cabal known as banksters.
May they all rot and burn in Hell for all eternity.
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WriteDown
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Sat Feb-20-10 11:18 AM
Response to Reply #14 |
15. Yeah, tax cheats unite. nt |
DisgustedInMN
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Sat Feb-20-10 11:42 AM
Response to Reply #15 |
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.. vilify the victims of the rigged game.
Anything for profit, right pal? :sarcasm:
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WriteDown
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Sat Feb-20-10 12:21 PM
Response to Reply #20 |
22. A fatcat fighting the IRS is the victim? |
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Edited on Sat Feb-20-10 12:21 PM by WriteDown
You must love Mr. Stack.
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DisgustedInMN
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Sat Feb-20-10 12:35 PM
Response to Reply #22 |
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... the assholes that just rewards themselves with 100s of billions of OUR atx dollars in "bonuses" are in handcuffs and we'll chat about "fatcats."
Some folks will fall for anything.
Oh lookie... it's shiny!
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WriteDown
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Sat Feb-20-10 12:41 PM
Response to Reply #25 |
26. So you can't have smaller fatcats? |
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The guy was a tax cheat just like Stack. He's losing his business and his home, rightfully so. He had what was HIS and he wasn't going to share anything with the IRS Do you minimize a man who kills his wife because there's still a serial killer on the loose? Geez.
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DisgustedInMN
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Sat Feb-20-10 12:44 PM
Response to Reply #26 |
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... argue with people who defend a rigged, unfair, deck is stacked against you, system. Welcome to ignored.
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WriteDown
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Sat Feb-20-10 12:46 PM
Response to Reply #28 |
29. Yes, the IRS needs to be shut down. A libertarian paradise awaits. nt |
Gman2
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Sat Feb-20-10 11:20 AM
Response to Original message |
16. Consider that MILLIONS os us are long term unemployed, and |
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instead of starving, have used the funds, without that convenient feature of witholding some. How will all of us pay? Prison? I am disabled, and the Gov wont allow any to gain SS dis, until half dead. And even then. So, we go along, hoping to die, right before they come to do us in.
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roamer65
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Sat Feb-20-10 01:44 PM
Response to Original message |
31. Sounds like a teabagger Rethug. |
Commie Pinko Dirtbag
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Sat Feb-20-10 04:38 PM
Response to Reply #31 |
33. No, teabagger Rethugs try to KILL people in their flameout. -nt |
KonaKane
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Sat Feb-20-10 04:40 PM
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