What you did today

[Enoch]

How do you just not pay taxes? The IRS would come after you to garnish your wages if you tried that here.

They would... when and if they got around to it. Given the scale of their mission and the complexity of the rules they have to operate under, the IRS is redonkulously overworked. (Plus, people who don't pay their taxes aren't usually the type who get "wages." Payroll deductions take care of that issue pretty well. It's the self-employed, the independent contractors, the "arseloads of investment income" taxpayers, and the "ridiculous maze of off-shore shell corporations" taxpayers who cause the most trouble.)

 

 

Oh yes they view the self-employed as real "enemies of the people". In fact I know a guy who owned a small electronics company who made one small seemingly innocuous mistake. Three years later, after that company had shut down the IRS came calling and the small mistake made in good faith cost that man his entire life savings. The IRS is a monster.

I did not mean to imply any deceit or malice on the part of the parties listed. Simply that, on the aggregate, non-payment of taxes due is larger problem within those populations.

[Gorgon]

A lot of first timers starting a business go under in the first few years when the going is the hardest, there might be value in assessing the chance of success of the business and deciding whether it was worth giving some slack in expectancy of greater a greater return later on. Of course that way lies Communism, but still.

[Monte Carlo]

I know Karl Marx wouldn't approve, but hey, "Taxation is Theft."

[Walsingham]

On topic: I had an absolutely awesome day at work, and am rewarding myself with four bottles of ales I've not had before.

 

On side topic: I agree with GD. Very little slack is built into revenue collection, and inevitably the n00bs get hit hardest. And it is fundamentally anti-competitive. But I don't know how else it could be jigged. Maybe if elected representatives could be petitioned to put forward a limited number of revue cases per year?

[Monte Carlo]

Alternatively, hire a tax lawyer. He'll just go and negotiate with the revenue to avoid the thing getting to court and take a cut of whatever you save.

 

See? Occasionally lawyers have their uses.

[Hurlshort]

Ok, I said I would update my attempt at short selling my condo, so here goes:

 

Last month we moved into a new house, we are renting it for $2000 a month, and it is really nice. We are hoping to stay there for a number of years.

 

We have a mortgage on our condo that costs us about $2500 a month (after property taxes, hoa fees and all that.) We rent it out for $1100, so we take a big loss every month. With our new rent situation, we knew we would not be able to keep paying both, and so we decided to sell the condo. The problem is we owe $350,000 on the condo and the market value is way lower, so we have begun a short sale process.

 

First off, we called the bank (Wells Fargo) and explained our situation. They were very helpful, surprisingly so, but I guess this short sale stuff is becoming common enough that they have it down pat. I also received a few calls over the month trying to collect the mortgage payment that we skipped in March, I told them I was short selling the property, and they were very easy to work with. They sent me paperwork explaining how to proceed, and the first step was to list the property.

 

We got a real estate agent with short sale experience, and listed the property last Monday. We priced the property at $139,000 and got a good deal of interest. We received two offers at $110,000, and I accepted one that came from an investment group. The nice thing about an investor is it is a cash transaction, meaning the close will go faster than if they needed to process their own loan.

 

The next step, and this is a big one, is getting Wells Fargo to agree to let us sell the property at $110,000. They will send out their own appraiser and run comparisons. If they think it is too low, they will counter offer and we will have to go through quite a few more hurdles. I also sent in all my financial information to prove that I cannot continue to pay the mortgage, so they have to go over all that.

 

So I'm happy we have offers, but I'm not super excited or anything. I am still losing my shirt on this whole deal and I'm pretty sore about it. My current tenants also gave their 30-day notice, so I'm hoping this doesn't drag out long. The bank turn around on this thing is 2-8 weeks, so it still has a way to go before we are clear.

 

My credit will take a decent hit, but so far it looks like I will be able to recover in just a few years, so that is nice.

[Gfted1]

Wow, owe 350k but listed for 110k, ouch.

 

We're curently in a similar situation wrt property values. We would love to sell our current place and buy a bigger place but the house right next door is a short sale and is currently listed for less than we still owe on our property. So until that turd sells and property values increase a little bit, we're stuck where we are.

[Guard Dog]

How do you just not pay taxes? The IRS would come after you to garnish your wages if you tried that here.

They would... when and if they got around to it. Given the scale of their mission and the complexity of the rules they have to operate under, the IRS is redonkulously overworked. (Plus, people who don't pay their taxes aren't usually the type who get "wages." Payroll deductions take care of that issue pretty well. It's the self-employed, the independent contractors, the "arseloads of investment income" taxpayers, and the "ridiculous maze of off-shore shell corporations" taxpayers who cause the most trouble.)

 

 

Oh yes they view the self-employed as real "enemies of the people". In fact I know a guy who owned a small electronics company who made one small seemingly innocuous mistake. Three years later, after that company had shut down the IRS came calling and the small mistake made in good faith cost that man his entire life savings. The IRS is a monster.

I did not mean to imply any deceit or malice on the part of the parties listed. Simply that, on the aggregate, non-payment of taxes due is larger problem within those populations.

I believe the IRS like many other law enforcement agencies follows the path of least resistance. If someone is basicly honest and makes a small mistake either knowlingly or accidently they will come down on them twice has hard with both feet than they will a honest to god tax dodger simply because it's easier to pursue and destroy someone who is not trying to avoid being caught. A real tax cheat, especially one of means can tie them up in court and force them to expend countless man hours. So they go after the easy cases twice as hard to make it look better when they don't go after the hard ones. That is why honest people live in mortal fear of them and crooks don't give them a second thought.

[Gorth]

Gorth - Government 1 - 0 (overtime goal)

 

(Backstory)

 

Nothing that brute force can't overcome. Got an apology and my money. I'll continue pursuing the case through the police though, somebody is till going to jail without getting any money for passing the starting line

[Gorgon]

That's not really the govt, rather some stupid official who maybe got away with that kind of embezzlement once or twice before.

[Shryke]

organising another weekend with the gf

it sucks only seeing her every fortnight or so

[Raithe]

The joys of housetraining a puppy.

That and general trying to ensure good behaviour. While always keeping that tone of "enthusiasm" in the voice.

[Vilhelm]

A job interview. It was a frightening experience.

[Malcador]

Have to go to a client site for 3 weeks, 10 minute walk from my office. Joy. I get to deal with douchebag suits and **** bank IT staff in person.

[Krookie]

Have to go to a client site for 3 weeks, 10 minute walk from my office. Joy. I get to deal with douchebag suits and **** bank IT staff in person.

 

Did you really just complain about having to walk 10 minutes a day?

[Starwars]

Had a wisdom tooth pulled out today. Went really smooth thankfully, but it does hurt quite a bit now that the anasthetics are wearing off. Though I think my wallet is hurting more.

[Gfted1]

Isnt that free in Sweden? Also, go get some free pain medication.

[Walsingham]

Sweet Gibbering Jesus, Hurlshot. Taking a 180k hit on the sale?

 

I hate to say it - partly because I just got back from hillstomping and my maths may be off - but if the market is set to recover over even 24 months you would surely be better advised to ride out the monthly losses over that period? You're 'only' losing 1k per month, right?

 

Edit, post-edit, post-post edit: No. No, I think that's right.

Edited April 6, 2011 by Walsingham

[Wrath of Dagon]

It's the bank that's taking the hit, actually to be more accurate the taxpayer.

[Walsingham]

It's the bank that's taking the hit, actually to be more accurate the taxpayer.

 

I just had an image of a plane over Libya flashing up a sign on the pilot's controll screen. 'ABORT ABORT'. Then over the radio a sad flight controller informs him that thanks to Hurlshot defaulting there will be no whoosh bang today.

[Wrath of Dagon]

There will be a whoosh bang like you've never seen before, just wait a little.

[Malcador]

Have to go to a client site for 3 weeks, 10 minute walk from my office. Joy. I get to deal with douchebag suits and **** bank IT staff in person.

 

Did you really just complain about having to walk 10 minutes a day?

 

Nope the walk is 25% of what I used to do to an old job. But it's more the fact that I have to be face to face with bankers, idiot IT people and generic scum in suits for three weeks. At least here, it's just text in an email or a voice on the phone. If only it were our other major client, they're pretty nice folk over there :D

 

One bright side though, it'll be pretty much like Initech.

Edited April 6, 2011 by Malcador

[Walsingham]

Malcador, my advice is this observation: you just have to put up with them fora while. They have to BE them forever. So have a little compassion.

[Malcador]

Pretty much. Alternative is to go postal on them verbally and get sacked.

[Walsingham]

Pretty much. Alternative is to go postal on them verbally and get sacked.

 

My further advice is to come in each day brandishing something like a cycle helmet or birch branch and when asked about it, observe that in your normal schedule you have time for LOTS of extra activities. That always drives the wee buggers nuts.

Edited April 6, 2011 by Walsingham