Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (430696)	10/27/2008 8:41:21 PM
From: Tenchusatsu	Read Replies (1) \| Respond to of 1573242

Ted, > By law, you are required to be notified if you owe taxes before a lien is placed. How can he not be aware? Don't ask me. I just got that from Wikipedia. Maybe the notification was in the bureaucratic pipeline. I remember getting a notice from the IRS saying that I owed like $80K in back taxes one year. Of course, that notice came over a year after I filed. Turned out to be a one-line omission in my return, an oversight that I corrected and ended up having to pay nothing. But heavens forbid if someone wanted to dig up dirt on me during that time. Such as the NYTimes, the AP, etc. Imagine the headlines: Tenchu the Engineer Owes $80,000 in Back Taxes A regular frequenter of Silicon Investor, who has often taken conservative and libertarian stances on issues, was found to be dodging taxes to the tune of $80,000, an AP investigation has discovered.

To: tejek who wrote (430696)	10/27/2008 8:59:56 PM
From: i-node	Read Replies (1) \| Respond to of 1573242

By law, you are required to be notified if you owe taxes before a lien is placed. How can he not be aware? I've represented many, many taxpayers who had liens many times the size of this one who had no idea why, when, or how they had a tax lien filed against them. There is no requirement that you be "notified". The requirement is that the IRS send a letter to your "last known address", and the courts have held that even when the IRS had been notified of a more current address and made a reasonable effort to use the "last known address", the lien is valid. Many, if not most, liens appear when a taxpayer tries to sell property or finds it in his credit report when buying property. The two most common situations for liens to exist typically cause the taxpayer NOT to know the lien was filed -- a) Divorce -- when taxpayers agree that one or the other should settle a tax liability and that person fails to do so, a lien may be filed and the letter sent to the address they had on file for the married couple prior to divorce, and b) 100% Penalty cases, where the taxpayer is the target of a 100% penalty for payroll taxes of his employer and the IRS does not know or can't easily obtain the target's current address. In neither of these situations is the taxpayer typically aware of the lien, yet they probably constitute half or more of all liens filed.