- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: IRS shuts down mom and pop dressmaker
Posted on 7/9/17 at 10:06 am to Jorts R Us
Posted on 7/9/17 at 10:06 am to Jorts R Us
quote:
Would need more information to form an opinion but it sounds pretty heavy-handed. When it comes to the banking stuff, that is not an area to frick around with.
There definitely isn't much background info. It would be very interesting to know alll the details. I'm sorta thinking this business had very sloppy accounting and couldn't disprove the IRS allegations. It is never a good idea to mess with the IRS.
You can get crushed.
Posted on 7/9/17 at 10:08 am to Creidhne
quote:Yeah the carry over net loss years is where the IRS appears to have zeroed in.
I'm sorta thinking this business had very sloppy accounting and couldn't disprove the IRS allegations.
Posted on 7/9/17 at 10:16 am to RuLSU
quote:
I start to wonder what details are being left out. How did a small mom & pop shop amass $31,400 in tax debt?
Lol really? That's nothing, 31,400 is a lot of debt???
Posted on 7/9/17 at 10:17 am to Jbird
quote:That sentence makes me want to barf
I'm sorta thinking this business had very sloppy accounting and couldn't disprove the IRS allegations.
Posted on 7/9/17 at 10:17 am to RuLSU
quote:
How did a small mom & pop shop amass $31,400 in tax debt?
Happened to me once, what happens is they look at your previous years and if they see you owed them 90k in taxes one year and the next year you owe them say 60k, they assume you scammed them and don't look at the shitty economy or your sales numbers. All kinds of paperwork that if it ins't filed correctly they just say it isn't filed at all. Just a guess though.
Posted on 7/9/17 at 10:23 am to Creidhne
quote:
The law says you can't deposit over $10,000 in cash without proper documentation. If you make several $9,000+ deposits you are still in violation. Gotta love the IRS.
This is why you have to make your regular vacations in places like Tortola (or near there).
Posted on 7/9/17 at 10:28 am to RuLSU
quote:
Still, when I read an article like this, I start to wonder what details are being left out. How did a small mom & pop shop amass $31,400 in tax debt?
Likely reported more earnings than the required taxes paid.
This is a good reason to have CPAs file your business and income taxes. The IRS tend to not scrutinize filings done by CPAs.
Posted on 7/9/17 at 10:31 am to Jbird
quote:
The IRS claimed that the businesses intentionally tried to evade federal bank reporting requirements by making cash deposits just under the $10,000 limit.
frickers
straight up evil
i remember they tried this shite on another small business a few years ago. he made daily or weekly deposits and they would just not be $10k. the IRS said he was structuring and he was presumed guilty. i don't even know if they charged him, they just froze/seized the money in his accounts
Posted on 7/9/17 at 10:32 am to Creidhne
quote:
I realize what the law is about. The problem seems to be the IRS doesn't
no the problem is the IRS doesn't care
once a law is created, government doesn't give a shite WHY it was created. it just seizes on the power to flex its muscles
Posted on 7/9/17 at 10:47 am to Jbird
As a business owner with an easily trackable IP address I would just like to state publicly that the IRS has a tough job and they do the best they can under difficult circumstances.
#Payyourtaxes
#Team IRS
#Myacctountanthasthatonfile
#Immagoodboy
#Payyourtaxes
#Team IRS
#Myacctountanthasthatonfile
#Immagoodboy
Posted on 7/9/17 at 10:53 am to SlowFlowPro
quote:
i remember they tried this shite on another small business a few years ago. he made daily or weekly deposits and they would just not be $10k. the IRS said he was structuring and he was presumed guilty. i don't even know if they charged him, they just froze/seized the money in his accounts
They actually did this to hundreds of people between 2009 and 2014. They were taken to task by congress in 2015 or so, and congress passed laws to facilitate the return of assets illegally stolen by the IRS.
Didn't help these people, though.
Posted on 7/9/17 at 11:32 am to RuLSU
quote:
Still, when I read an article like this, I start to wonder what details are being left out. How did a small mom & pop shop amass $31,400 in tax debt?
It's really not that hard to do. If you incorrectly file or fail to file a few times, the penalties and interest can stack up very quickly.
Posted on 7/9/17 at 11:53 am to Jbird
quote:
The Garland couple sued the government in federal court in Dallas in March for more than $1.8 million, alleging the IRS violated its own procedures during the tax seizure at the small storefront on Garland Road in March 2015.
I believe the courts have already ruled the IRS don't even have to follow their own handbook.
Posted on 7/9/17 at 11:55 am to GumboPot
quote:
This is a good reason to have CPAs file your business and income taxes. The IRS tend to not scrutinize filings done by CPAs.
Maybe that's true for small businesses, but not large corporate taxpayers.
Posted on 7/9/17 at 12:15 pm to Vols&Shaft83
quote:
If you incorrectly file or fail to file a few times, the penalties and interest can stack up very quickly.
And the IRS is not above letting interest accumulate before they hit you with the charges.
Posted on 7/9/17 at 12:31 pm to FightinTigersDammit
quote:
And the IRS is not above letting interest accumulate before they hit you with the charges.
Yep, did it to me. By the time I got everything corrected, I owed almost $60K.
Took me 4 years to pay it off. Never again.
Posted on 7/9/17 at 12:33 pm to Jbird
quote:
The lawsuit says one document received is a written “directive” from an IRS supervisor to “shut down this failing business.”
Where is Ted Cruz and John Cornyn?
The IRS, nor any branch of Govt, is not in the business of picking winners and losers.
Nevermind, it's Dallas County, they're not Hispanic, Black, or Queer, they have no representation.
Posted on 7/9/17 at 1:09 pm to Jbird
I worked with a really nice woman in Tulsa whose daughter was an IRS collections agent.
The lady related how embarrassed she was when she and her daughter went to an exhibition during the Tulsa State Fair. Her daughter recognized a debtor limousine business had a limo on display/exhibit inside the main exhibition hall building.
Her daughter disrupted the whole fair calling in a wrecker to seize the display limo from inside the building. And then the daughter took great pleasure in engaging boisterously with the business and the fair organizers in a threatening manner.
She said she dropped her daughter off at home and told her she would not see her the rest of the weekend she was so embarrassed. She said she didn't raise her daughter to be a bitch like that.![](https://images.tigerdroppings.com/Images/Icons/IconLOL.gif)
The lady related how embarrassed she was when she and her daughter went to an exhibition during the Tulsa State Fair. Her daughter recognized a debtor limousine business had a limo on display/exhibit inside the main exhibition hall building.
Her daughter disrupted the whole fair calling in a wrecker to seize the display limo from inside the building. And then the daughter took great pleasure in engaging boisterously with the business and the fair organizers in a threatening manner.
She said she dropped her daughter off at home and told her she would not see her the rest of the weekend she was so embarrassed. She said she didn't raise her daughter to be a bitch like that.
![](https://images.tigerdroppings.com/Images/Icons/IconLOL.gif)
Popular
Back to top
![logo](https://images.tigerdroppings.com/images/layout/TDIcon.jpg)