$5M refund in OID/1099 scheme - perp indicted

Judge Roy Bean
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$5M refund in OID/1099 scheme - perp indicted

Post by Judge Roy Bean »

Why he hung around long enough to be caught is a mystery. :shock:

http://www.sfgate.com/cgi-bin/article.c ... e=business
The Honorable Judge Roy Bean
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LPC
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Re: $5M refund in OID/1099 scheme - perp indicted

Post by LPC »

Federal prosecutors are seeking forfeiture of $322,000 in cashier's checks, $117,473 in cash and $75,729 in silver and gold coins.
So where is the other $4,484,798?

Some ideas:

1. The San Francisco bay area now has a very prosperous hooker population.

2. He has a *really* bad hangover.

3. Some horses are surprisingly slow.

4. And he just flat-out *wasted* at least some of the money.
Dan Evans
Foreman of the Unified Citizens' Grand Jury for Pennsylvania
(And author of the Tax Protester FAQ: evans-legal.com/dan/tpfaq.html)
"Nothing is more terrible than ignorance in action." Johann Wolfgang von Goethe.
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jkeeb
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Re: $5M refund in OID/1099 scheme - perp indicted

Post by jkeeb »

Shocking. When I first was hired by IRS, any refund over $100K was to be reviewed by the Finance Committee. Then it was $1M. A $5M refund got thru?
Remember that CtC is about the rule of law.

John J. Bulten
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The Observer
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Re: $5M refund in OID/1099 scheme - perp indicted

Post by The Observer »

jkeeb wrote:Shocking. When I first was hired by IRS, any refund over $100K was to be reviewed by the Finance Committee. Then it was $1M. A $5M refund got thru?
You have to remember, $5 million doesn't go as far as it used to.
"I could be dead wrong on this" - Irwin Schiff

"Do you realize I may even be delusional with respect to my income tax beliefs? " - Irwin Schiff
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BBFlatt
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Re: $5M refund in OID/1099 scheme - perp indicted

Post by BBFlatt »

The Joint Committee report threshold is currently $2m, but doesn't (and to my knowledge never has) applied to refunds of over-withheld tax. It mainly comes into play with amended returns.

A Joint Committee report is required for tentative NOL carrybacks (e.g. Form 1139 for corps) over $2m, but the refund is paid first.
When the last law was down and the devil turned 'round on you where would you hide, the laws all being flat? ...Yes, I'd give the devil the benefit of the law, for my own safety's sake. -- Robert Bolt; A Man for all Seasons
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Judge Roy Bean
Judge for the District of Quatloosia
Judge for the District of Quatloosia
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Re: $5M refund in OID/1099 scheme - perp indicted

Post by Judge Roy Bean »

Hmmm...

http://www.amf-1.com/company/team.shtml

Played for the Lakers for a time and in Europe. (7'' 1")
The Honorable Judge Roy Bean
The world is a car and you're a crash-test dummy.
The Devil Makes Three
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