Many of the people who lost their Receiver-filed case neglected to pay (or won't pay) their judgment. So, their cases were turned over (assigned) to the IRS for collection.
Following is a list of cases that were assigned to the IRS. This info was extracted (manually) from 3 of the Receiver's Status Reports, so there could be errors in the numbers. Sorry about that. You get what you pay for ...
Format is:
: Judgment Date
: Case Number
: Name
: Judgment Amount
: + Pre-judgment Interest (if available)
The list is sorted by ascending judgment date, with the oldest judgment date on top.
04/13/20 2:19-cv-728 Smith, Debbie $20,134.61
09/25/20 2:19-cv-840 K. Hawes Associates $28,409.19
02/24/21 2:20-cv-010 Battle, Hinton $21,118.53
02/24/21 2:19-cv-778 Hampton, Michael $10,890.88
02/24/21 2:19-cv-689 Stilson, Dennis $35,798.44
02/24/21 2:19-cv-702 Bean, Joel $17,551.89
04/15/21 2:19-cv-727 Scraggs, Joseph $9,852.75 + $1,338.89 = $11,191.64
04/16/21 2:19-cv-767 Turner, Jeffrey $13,020.00 + $3,208.63 = $16,228.63
04/19/21 2:19-cv-687 Brennan, Paul $95,591.76 + $14,862.55 = $110,454.31
04/19/21 2:19-cv-768 Kerr, Gracie & Kevin $40,944.70 + $5,771.52 = $46,716.22
06/22/21 2:19-cv-791 Payne, Linda & Steven $32,737.50 + $8,283.04 = $41,020.54
10/05/21 2:19-cv-792 Clement, Jason $359,910.11
10/14/21 2:19-cv-660 Frandsen, Jay D. $72,044.93
11/09/21 2:19-cv-706 King, Steven Lynn $22,108.05 + $3,909.79 = $26,017.84
11/09/21 2:19-cv-726 Stewart, Raleigh $11,579.53 + $2,135.08 = $13,714.61
07/05/22 2:19-cv-533 Shepard, Matthew $141,763.22 + $24,857.11 = $166,620.33
02/13/23 2:19-cv-757 Snow, Curtis $87,079.72
Total judgment amounts: $707,800.33
Ouch.
Note that pre-judgment interest for some of the above amounts was included in the total amount. That's the number following the "+" sign. Some of the Receiver's filings did not include details of the pre-judgment interest, so that would have to be added into their total to be collected by the IRS.
Also, post-judgment interest (compounded?) would be demanded by the IRS for *all* the accounts before any amounts due would be considered paid off. Some of those judgment dates were as far back as 2020. That's 5 years of interest to be added to their judgment amount.
Major Ouch.
Interest for the above amounts will continue to compound until the entire amount due is paid off. That could take years. Or, they may *never* be paid off, meaning they will forever be in debt to the IRS for whatever is left of their amounts due.
Also, the majority of those above amounts were commissions earned for selling lenses. Those amounts do not include the tax credit and depreciation amounts claimed, if any, by those people who actually believed in the IAS/RaPower3 solar power plan that sounded "too good to be true".
Add in those amounts to be paid back by the taxpayers, plus compounded interest to those amounts from the date the taxes were due.
Another Major Ouch.
Keep in mind that the above list ONLY includes judgment amounts that were assigned to the IRS by the receiver. I presume amounts for accounts that were not assigned to the IRS were already paid up, or they have a payment plan in place.
Again, the above info may be incorrect because of inadvertent manual errors or misinterpretation of the amounts included in the Receiver's status reports. YMMV.
Sure is a pretty day.
TED |
