SuzukiSavage.com - Twisted Sister Ralley 2016

MMRanch Serious Thumper Offline Evil flourishes if Good Men do Nothing. Posts: 5730 LYNCHBURG TN Gender:	Re: Twisted Sister Ralley 2016 Reply #165 - 02/12/16 at 07:29:54 Versey anybody needing a warm up can come out... it'll be 85+ next week. that'll thaw you out. Shocked If wasn't a three days ride one way I'd take ya up on it !
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Art Webb

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Re: Twisted Sister Ralley 2016
Reply #166 - 02/13/16 at 07:15:36

well fellas my attendance is no longer certain
The finance company with which I held my mortgage decades ago has canceled my debt, and according to the letter they sent me along with a 1099, this means I have to include that amount as 'incomer' when filing taxes
I already filled and received my refund (why didn't the IRS tell me my income figures didn't agree with theirs?)
and so now apparently I will owe the IRS another 2400+
how to come up with it by tax deadline I dunno, but I sure won't do it by setting aside money for a trip

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MMRanch

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Re: Twisted Sister Ralley 2016
Reply #167 - 02/13/16 at 09:45:26

ART !

I hoped to see a SuperScooter in action this spring ! You'll spend $200.oo staying home that week so you might as well come ride with us for the same money ! Huh

I'll buy ya a "Breakfast burrito" just to see a - S.Scoot.

It sounds like a scammer is on your trail to me ??? Roll Eyes

But if it is legit !
How about those T.V. commercials where they make deals with the IRS for ya ? $2600. is a sizable chunk of change for me ! I wouldn't even think of paying them till I got a bill from the IRS itself and talked to one of their agents. Art , you know those scammers can make it look so real you can't tell the difference , treat them with all the suspicion you would give a con man at the mall ... Wink

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verslagen1 YaBB Moderator ModSquad Offline Where there's a will, I want to be in it. Posts: 28769 L.A. California Gender:	Re: Twisted Sister Ralley 2016 Reply #168 - 02/13/16 at 10:15:15 art, certainly worth a call to a tax specialist to figure it out, then the irs to confirm. I would think if you had a debt and you paid it, you would've gotten property in exchange. You didn't get property, cause you didn't pay, no income... no tax.
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Kenny G Serious Thumper Offline SuzukiSavage.com The Singles Club...LOL Posts: 1754 Robson Ranch, Denton, Texas Gender:	Re: Twisted Sister Ralley 2016 Reply #169 - 02/13/16 at 23:28:50 Art, The IRS will mail you a bill if you owe any money. The IRS will never initiate a collection with a telephone call. If and when you receive an invoice from the IRS, take it to the local IRS office and talk to them. They are really easy to deal with as long as you are not hiding from them. Good Luck Kenny G
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Art Webb

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Re: Twisted Sister Ralley 2016
Reply #170 - 02/14/16 at 07:57:15

MMRanch wrote on 02/13/16 at 09:45:26:

ART !

I hoped to see a SuperScooter in action this spring ! You'll spend $200.oo staying home that week so you might as well come ride with us for the same money ! Huh

I'll buy ya a "Breakfast burrito" just to see a - S.Scoot.

It sounds like a scammer is on your trail to me ??? Roll Eyes

But if it is legit !
How about those T.V. commercials where they make deals with the IRS for ya ? $2600. is a sizable chunk of change for me ! I wouldn't even think of paying them till I got a bill from the IRS itself and talked to one of their agents. Art , you know those scammers can make it look so real you can't tell the difference , treat them with all the suspicion you would give a con man at the mall ... Wink

Ditech financial is what used to be greentree financial, and they aren't asking me for money, they sent me a form 1099, stating I have to claim that money as income, and pay taxes on it
they aren't asking me for a dime, and it's a legit Debt from a legit company
I will talk to the IRS about this, and if they weren't supposed to do this, rest assured I will sick Uncle Sam on them
I still intend to TRY to go on the Sisters run (and staying home will not cost as much as that: TROOF)
I'm just gonna have to see how this shakes out
technically half of this is my ex wife's debt, too, but the IRS can't go after her, as she is on disability
she still might be willing and able to help, but we'll see what happens

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Re: Twisted Sister Ralley 2016
Reply #171 - 02/14/16 at 08:01:08

verslagen1 wrote on 02/13/16 at 10:15:15:

art, certainly worth a call to a tax specialist to figure it out, then the irs to confirm.

I would think if you had a debt and you paid it, you would've gotten property in exchange.
You didn't get property, cause you didn't pay, no income... no tax.

well I sure as heck didn't get to deduct the amount from my income when I bought the Mobile home, so i don't understand either, except that the IRS can't collect from them on money they never received, so i have to pay it? still sounds wrong, but out gubment specializes in doing wrong

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Re: Twisted Sister Ralley 2016
Reply #172 - 02/14/16 at 08:13:18

Kenny G wrote on 02/13/16 at 23:28:50:

Art,

The IRS will mail you a bill if you owe any money.
The IRS will never initiate a collection with a telephone call.

If and when you receive an invoice from the IRS, take it to the local IRS office and talk to them. They are really easy to deal with as long as you are not hiding from them.

Good Luck

Kenny G

Kenny
so for there has been no phone call, I have received a form 1099, which is a report of 'earnings' that are not wages
if you collect social security, you get one of these each year
the form was mailed AFTER i had already filed my taxes (about a week before I received my refund)
The IRS would surely have stopped mt refund had they received it before then
I think waiting for a bill from them would be a mistake, in this case, and I need to see what this is all about
I don't need the IRS on my butt for 2400, especially since, having direct deposited my refund, they might be able to go in there and take money out Shocked

(no I don't have that much money in my account, I don't have that much money, period)

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old.indian Serious Thumper Offline Fighting Foreign Terrorism since 1492 Posts: 975 Central New Mexico Gender:	Re: Twisted Sister Ralley 2016 Reply #173 - 02/14/16 at 08:36:30 Art: You can possibly file an "amended tax return" and request a "payment schedule" that way you can avoid fines, penalties and (possibility) interest. The IRS seems to be focusing on older low income people recently. Or that's how it seems, since that's the group I socialize with.
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Re: Twisted Sister Ralley 2016
Reply #174 - 02/14/16 at 08:46:28

old.indian wrote on 02/14/16 at 08:36:30:

Art: You can possibly file an "amended tax return" and request a "payment schedule" that way you can avoid fines, penalties and (possibility) interest.
The IRS seems to be focusing on older low income people recently. Or that's how it seems, since that's the group I socialize with.

I think that's what I'll have to do, too, but I will ask someone at the IRS tuesday if I can get through
anyway the IRS hasn't contacted me, only I received a 1099 from this old creditor, with a printout explaining that since the canceled the dept I have to call it income
this more than doubled my taxable income for the year, taking my 'taxes owed' from 1808 to 4268 according to the tax table i have
if I am expected to pay it back this year I would have to pay 205 per month to do that even with no interest or penalties
I canceled the order for my building due to this, as no way I could pay that and the 149 a month for the building

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verslagen1

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Re: Twisted Sister Ralley 2016
Reply #175 - 02/14/16 at 10:31:14

Art Webb wrote on 02/14/16 at 08:01:08:

verslagen1 wrote on 02/13/16 at 10:15:15:

art, certainly worth a call to a tax specialist to figure it out, then the irs to confirm.

I would think if you had a debt and you paid it, you would've gotten property in exchange.
You didn't get property, cause you didn't pay, no income... no tax.

well I sure as heck didn't get to deduct the amount from my income when I bought the Mobile home, so i don't understand either, except that the IRS can't collect from them on money they never received, so i have to pay it? still sounds wrong, but out gubment specializes in doing wrong

did you, or your ex get the mobile home?
did you sell it or did the financial take it back?

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badwolf

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Re: Twisted Sister Ralley 2016
Reply #176 - 02/14/16 at 10:57:39

If you borrow money to buy something, and for whatever reason the lender writes off the loan, and you get to keep the property, it is considered income. I don't know, and don't want to know your business. But if you bought something and ended up with it without paying for it in full, the IRS considers it taxable income. You may be able to spread it over several years, or deprecate it. You DO need to talk to a knowledgeable tax person. Good luck.

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Re: Twisted Sister Ralley 2016
Reply #177 - 02/15/16 at 07:08:18

verslagen1 wrote on 02/14/16 at 10:31:14:

Art Webb wrote on 02/14/16 at 08:01:08:

verslagen1 wrote on 02/13/16 at 10:15:15:

art, certainly worth a call to a tax specialist to figure it out, then the irs to confirm.

I would think if you had a debt and you paid it, you would've gotten property in exchange.
You didn't get property, cause you didn't pay, no income... no tax.

well I sure as heck didn't get to deduct the amount from my income when I bought the Mobile home, so i don't understand either, except that the IRS can't collect from them on money they never received, so i have to pay it? still sounds wrong, but out gubment specializes in doing wrong

did you, or your ex get the mobile home?
did you sell it or did the financial take it back?

The financial took it back
neither of us has the home
the home, I am sure, was resold to someone else
I didn't say it was repo'd? I should have mentioned that

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Re: Twisted Sister Ralley 2016
Reply #178 - 02/15/16 at 07:09:18

badwolf wrote on 02/14/16 at 10:57:39:

If you borrow money to buy something, and for whatever reason the lender writes off the loan, and you get to keep the property, it is considered income. I don't know, and don't want to know your business. But if you bought something and ended up with it without paying for it in full, the IRS considers it taxable income. You may be able to spread it over several years, or deprecate it. You DO need to talk to a knowledgeable tax person. Good luck.

As I said, the home was repo'd, I have nothing to show for the debt except debt

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verslagen1

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Re: Twisted Sister Ralley 2016
Reply #179 - 02/15/16 at 07:58:49

Art Webb wrote on 02/15/16 at 07:08:18:

The financial took it back
neither of us has the home
the home, I am sure, was resold to someone else
I didn't say it was repo'd? I should have mentioned that

I would make the claim that while you "earned" the money from the canceled debt, you lost the property for a net loss and now the gub owes you money. Huh

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