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I wish I were joking, received a multi million dollar assessment from the I R S.  This is lunacy.  Is this common? It is obviously a mistake, please tell me these are easy to fix.

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I received an assessment of $1.9 million from the IRS two years ago. Primarily this conerned my schedule D from 2003 when I was a heavy trader. The IRS has no buyside data on investment securities, only info and when you sold a stock and for how much. Apparently my trading pattern and the way I reported my info to the IRS fit the description of someone who hides/ launders money so i was investigated, thorughly. I hired a tax attorney and after several thousand $ and several liters of tequila my name was cleared. During the darkest period of this investigation the IRS sent to me a repayment schedule where I would have to repay $1.95million. Each month $9,000 of interest would have accrured on this balance (assuming a 5% rate). I think a lot of hair on my head turned grey that summer.

 

 

You have two choices, represent yourself or get a lawyer. The obfusticating nature of the IRS and the amount of the assessment pushed me to the latter. In retrospect I may have panicked

 

Sorry, it sucks

574150[/snapback]

Some light is being shed, the specific year in question I was also a heavy trader - can only hope that it is a similar situation, at least I can get my head around that. I can handle several thousand and tequila. At some point I hope this is just a funny footnote and a letter that is framed on the wall - until then I have to worry. But thank you for the posts, if it has happened to others or someone has heard of this, then I can tack off about 5 minutes of worrying.

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I wish I were joking, received a multi million dollar assessment from the I R S.  This is lunacy.  Is this common? It is obviously a mistake, please tell me these are easy to fix.

574140[/snapback]

 

 

I received an assessment of $1.9 million from the IRS two years ago. Primarily this conerned my schedule D from 2003 when I was a heavy trader. The IRS has no buyside data on investment securities, only info and when you sold a stock and for how much. Apparently my trading pattern and the way I reported my info to the IRS fit the description of someone who hides/ launders money so i was investigated, thorughly. I hired a tax attorney and after several thousand $ and several liters of tequila my name was cleared. During the darkest period of this investigation the IRS sent to me a repayment schedule where I would have to repay $1.95million. Each month $9,000 of interest would have accrured on this balance (assuming a 5% rate). I think a lot of hair on my head turned grey that summer.

 

 

You have two choices, represent yourself or get a lawyer. The obfusticating nature of the IRS and the amount of the assessment pushed me to the latter. In retrospect I may have panicked

 

Sorry, it sucks

574150[/snapback]

Some light is being shed, the specific year in question I was also a heavy trader - can only hope that it is a similar situation, at least I can get my head around that. I can handle several thousand and tequila. At some point I hope this is just a funny footnote and a letter that is framed on the wall - until then I have to worry. But thank you for the posts, if it has happened to others or someone has heard of this, then I can tack off about 5 minutes of worrying.

574158[/snapback]

 

 

Yeah, I framed my assessment letter with the IRS designed installment plan. If you have your trade data from that year and the net cap gain(loss) is similar to what you've reported to the IRS then you have no problemo and can save several thousand on lawyer fees, but the tequila I'm afraid is manditory

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I wish I were joking, received a multi million dollar assessment from the I R S.  This is lunacy.  Is this common? It is obviously a mistake, please tell me these are easy to fix.

574140[/snapback]

 

 

Like everyone else gaming longs, you must have made a "Vast Fortune" and forgot to pay the taxes.

 

:lol: :lol: :lol: :lol:

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I wish I were joking, received a multi million dollar assessment from the I R S.  This is lunacy.  Is this common? It is obviously a mistake, please tell me these are easy to fix.

574140[/snapback]

 

 

Like everyone else gaming longs, you must have made a "Vast Fortune" and forgot to pay the taxes.

 

:lol: :lol: :lol: :lol:

574160[/snapback]

 

Ahhh, I see, similar "Vast Fortunes" letter also being mailed out to the masses :)

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Ford Pole-Axes 30,000 Working Families, Gives CEO Over $7 Million Per Month

 

Mulally's pay package at Ford included a $7.5 million hiring bonus, as well as $11 million that Ford described as an offset for forfeited performance and stock option awards at Boeing. In addition he received $55,469 for relocation costs and temporary housing.

 

His base salary is $666,666 :ph34r: , which works out to annual pay of about $2 million. He also received restricted stock grants, which the company valued at $920,404, as well as 3 million stock options valued at $7.8 million.

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Ford Pole-Axes 30,000 Working Families, Gives CEO Over $7 Million Per Month

 

Mulally's pay package at Ford included a $7.5 million hiring bonus, as well as $11 million that Ford described as an offset for forfeited performance and stock option awards at Boeing. In addition he received $55,469 for relocation costs and temporary housing.

 

His base salary is $666,666 :ph34r: , which works out to annual pay of about $2 million. He also received restricted stock grants, which the company valued at $920,404, as well as 3 million stock options valued at $7.8 million.

574162[/snapback]

Separated at birth

 

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Housing slump hits escort services hard

 

The housing boom that fueled huge windfalls for escorts working local hotels has turned into a major bust, and some longtime escort services are shutting down or packing up and fleeing the state.

 

"These guys keep making excuses about Ditack or something," complained one escort. "I don't know what the hell they're talking about, but no pay, no play. I'm outta here!"

 

Many are reportedly moving their assets to Southern California, where the escort business is still booming, fueled in part by generous cash customers grown wealthy from the drug trade.

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I wish I were joking, received a multi million dollar assessment from the I R S.  This is lunacy.  Is this common? It is obviously a mistake, please tell me these are easy to fix.

574140[/snapback]

 

 

I received an assessment of $1.9 million from the IRS two years ago. Primarily this conerned my schedule D from 2003 when I was a heavy trader. The IRS has no buyside data on investment securities, only info and when you sold a stock and for how much. Apparently my trading pattern and the way I reported my info to the IRS fit the description of someone who hides/ launders money so i was investigated, thorughly. I hired a tax attorney and after several thousand $ and several liters of tequila my name was cleared. During the darkest period of this investigation the IRS sent to me a repayment schedule where I would have to repay $1.95million. Each month $9,000 of interest would have accrured on this balance (assuming a 5% rate). I think a lot of hair on my head turned grey that summer.

 

 

You have two choices, represent yourself or get a lawyer. The obfusticating nature of the IRS and the amount of the assessment pushed me to the latter. In retrospect I may have panicked

 

Sorry, it sucks

574150[/snapback]

Some light is being shed, the specific year in question I was also a heavy trader - can only hope that it is a similar situation, at least I can get my head around that. I can handle several thousand and tequila. At some point I hope this is just a funny footnote and a letter that is framed on the wall - until then I have to worry. But thank you for the posts, if it has happened to others or someone has heard of this, then I can tack off about 5 minutes of worrying.

574158[/snapback]

 

 

Yeah, I framed my assessment letter with the IRS designed installment plan. If you have your trade data from that year and the net cap gain(loss) is similar to what you've reported to the IRS then you have no problemo and can save several thousand on lawyer fees, but the tequila I'm afraid is manditory

574159[/snapback]

 

Sometimes I wonder if I should print out and attach my etrade statement with the 1040. Of course that would make the postage awfully expensive. I would hope that you could just go down to their office and pull up your statements online for them and show your balances for the year. Of course they'd only let you off the hook if you gave them a few hot tips.

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Housing slump hits escort services hard

 

The housing boom that fueled huge windfalls for escorts working local hotels has turned into a major bust, and some longtime escort services are shutting down or packing up and fleeing the state.

 

"These guys keep making excuses about Ditack or something," complained one escort. "I don't know what the hell they're talking about, but no pay, no play.  I'm outta here!"

 

Many are reportedly moving their assets to Southern California, where the escort business is still booming, fueled in part by generous cash customers grown wealthy from the drug trade.

574165[/snapback]

:lol: :lol: :lol:

post-837-1175823099_thumb.jpg

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