Bank threatens foreclosure; Man bulldozes home

[CoffeeCat]

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

[marmar]

1. Vive la revolution

nt

[WriteDown]

10. The revolution of the rich who owe taxes and aren't going to take it anymore?

:shrug:

[Fire1]

2. Yeah, this came out yesterday. It's on this board somewhere.

I thought it was great!!:P

[xchrom]

3. Fabulous. Nt

[stray cat]

4. I assume he still owes 350,000 and now has no house to pay toward it?

[TwilightGardener]

5. He actually had quite a bit of equity in it. Total dumbass.

[WriteDown]

8. He had a TON of equity and he didn't think he should pay taxes...

Another one.

[DURHAM D]

13. A total dumb ass hot head -

but at least he didn't drive his bull dozer through a federal office building.

but give him time...

[Hepburn]

24. If the house secured the loan....

...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:

[WriteDown]

27. Considering the IRS was seizing his assets...

Tax court is where he will face his reckoning.

[Hepburn]

30. Maybe federal criminal charges on the destruction of the property...

...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

[WriteDown]

32. If they find you are trying to hide or eliminating your assets, it is a crime. nt

[proud2BlibKansan]

6. He had never missed a payment but the bank foreclosed because of an IRS lien

That's messed up.

[WriteDown]

9. Yeah, you have to pay your taxes. Life sucks that way. nt

[proud2BlibKansan]

11. Then maybe I am confused

Is the foreclosure part of the IRS lien? The story gave the impression it wasn't.

[WriteDown]

12. More likely he couldn't pay his IRS lien so he stopped paying his mortgage....

You're right that it is not written well though.

[DURHAM D]

17. No - he was paying his mortgage. He just wouldn't pay his taxes

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.

[WriteDown]

19. At some point his mortgage wasn't being paid possibly due to wage garnishments...

Looks like his business is also being closed too. You're right about prison of course.

[DURHAM D]

21. In the clip I watched he said he never missed a mortgage payment.

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.

[WriteDown]

23. True enough..

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.

[proud2BlibKansan]

18. So maybe he CLAIMED he had never missed a payment

That seems likely. Reporters are more and more likely these days to just tell one side of the story.

[malaise]

7. Good link here

http://www.youtube.com/watch?v=GTMsNKeIlCA&feature=youtu.be&a

[DisgustedInMN]

14. Good on him!

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.

[WriteDown]

15. Yeah, tax cheats unite. nt

[DisgustedInMN]

20. That's right...

.. vilify the victims of the rigged game.

Anything for profit, right pal? :sarcasm:

[WriteDown]

22. A fatcat fighting the IRS is the victim?

You must love Mr. Stack.

[DisgustedInMN]

25. Let me know when ..

... 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!

[WriteDown]

26. So you can't have smaller fatcats?

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.

[DisgustedInMN]

28. I refuse to...

... argue with people who defend a rigged, unfair, deck is stacked against you, system. Welcome to ignored.

[WriteDown]

29. Yes, the IRS needs to be shut down. A libertarian paradise awaits. nt

[Gman2]

16. Consider that MILLIONS os us are long term unemployed, and

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.

[roamer65]

31. Sounds like a teabagger Rethug.

[Commie Pinko Dirtbag]

33. No, teabagger Rethugs try to KILL people in their flameout. -nt

[KonaKane]

34. Dupe.

.