i cant believe one year they actually mailed him a 327 thousand dollar refund

buckler: So, I can just tell the IRS that they owe me $327,000, and they'll send it to me? Sweet.

yes, but then you could be fined up to $250,000... so there!

He's less of a scumbag than the folks that brought you the Federal Reserve, and the Sixteenth Amendment.

So, how do we know that he filed a false return? Maybe he was an honest drug dealer and decided to actually file real numbers (hence the 375 Grand return). He beat Fortune 500 companies on earning percentage. We'll never know now. Capone got nailed on tax returns.

/I think he is still more honest than all 535 members of the legislature. So what does that say about our current political climate.

kwirlkarphys: i cant believe one year they actually mailed him a 327 thousand dollar refund

to err is human. to really screw something up it takes a computer.

Get busy living...or get busy dying

Woot_Gawd: Get busy living...or get busy dying

Brooks wuz here?

Since no one has posted a pic of it yet.

His plan was sound, but he misplaced a decimal or screwed up some mundane detail.

I can't believe that the IRA would give a return of that size without income checking.

Arctic Phoenix: Woot_Gawd: Get busy living...or get busy dying

Brooks wuz here?

So was Red.

Dumbass should have had a bank account with direct deposit. That's the way all the really smart criminals do it now days.

Sheehs...

scamming the IRS is not hard. Not getting caught is hard. For some reason, I wouldn't pick an inmate for the not getting caught part.

The IRS does not have software to notice and flag returns/refunds with suspicious/prison addresses?

This is partially the result of a push to be able to get refunds out faster. If you want fraud detection, then they have to delay all of the refunds a bit so some verification can be done.
Someone decided that quick turn-around on refunds was more important than preventing fraudulent checks from going out.

Wow. I'm almost afraid to tell you guys about the five billion in fraudulent refunds that went to illegal aliens last year.

It's not news that the IRS will send you a check for however much you tell it to. Depending on the amount of money we're talking about, it'll take them from a few months to a few years to catch it, but catch it they will.

mxwjs: buckler: So, I can just tell the IRS that they owe me $327,000, and they'll send it to me? Sweet.

yes, but then you could be fined up to $250,000... so there!

/ill pocket the 77 grand

//rinse lather repeat.

ElizaDoolittle: I'm impressed. How do you make up a tax return that gets you a $327k refund? I was under the obviously wrong impression that you had to have paid $327,001 to begin with.

Maybe I need the premium version of TurboTax.

While I wasn't at that level, I did pay an overall negative level of income tax last year because of the Making Work Pay credit.

DO NOT WANT Poster Girl: how many cases are there like this that we don't hear about or the IRS never finds out about until the money is long gone?

scrumpox:
Someone decided that quick turn-around on refunds was more important than preventing fraudulent checks from going out.


Considering the other posts about who pays or not, one can only conclude the system is being gamed and someone is getting some serious money. And not by accident or loophole.

/good thing the regulators are regulating the bureaucracy.
//interesting this comes out this time of year. trying to create a wave of false claims to obfuscate the situation perhaps?

ElizaDoolittle: I'm impressed. How do you make up a tax return that gets you a $327k refund? I was under the obviously wrong impression that you had to have paid $327,001 to begin with.

Maybe I need the premium version of TurboTax.

You create bogus 1099-OID forms claiming huge amounts of withholding ala Brother Jerry Love. (new window) Photoshop and some reasonably official sounding names, and you're in business.

There's apparently another big scheme in Florida with stealing SSNs and filing completely bogus tax returns, then having the refunds put on cash cards. By the time the actual person files their returns, the person perpetrating the fraud is long gone.

Hee, the ads on the side are for H&R Block.

david_gaithersburg: Wow. I'm almost afraid to tell you guys about the five billion in fraudulent refunds that went to illegal aliens last year.

Why do you hate American business?


/fair tax time?

selrah: [images.picturesdepot.com image 438x316]
Since no one has posted a pic of it yet.

And the signature was a spot-on match.

This guy has a promising career in $100 per seat build wealth seminars.

Lemme ask you then- do you trust your wife?

And here I'm worrying whether playing games on my work computer will get me audited...

kth: ElizaDoolittle: I'm impressed. How do you make up a tax return that gets you a $327k refund? I was under the obviously wrong impression that you had to have paid $327,001 to begin with.

Maybe I need the premium version of TurboTax.

You create bogus 1099-OID forms claiming huge amounts of withholding ala Brother Jerry Love. (new window) Photoshop and some reasonably official sounding names, and you're in business.

There's apparently another big scheme in Florida with stealing SSNs and filing completely bogus tax returns, then having the refunds put on cash cards. By the time the actual person files their returns, the person perpetrating the fraud is long gone.

Hee, the ads on the side are for H&R Block.

Any more details to share? For the innocent and curious among us?

dustman81: The following April, Andy did tax returns for half the guards at Shawshank. Year after that, he did them all, including the warden's. Year after that, they rescheduled the start of the intra-mural season to coincide with tax season. The guards on the opposing teams all remembered to bring their W2s.

...yet he neglected to tell them about the redemption fee.

jokker: kth: ElizaDoolittle: I'm impressed. How do you make up a tax return that gets you a $327k refund? I was under the obviously wrong impression that you had to have paid $327,001 to begin with.

Maybe I need the premium version of TurboTax.

You create bogus 1099-OID forms claiming huge amounts of withholding ala Brother Jerry Love. (new window) Photoshop and some reasonably official sounding names, and you're in business.

There's apparently another big scheme in Florida with stealing SSNs and filing completely bogus tax returns, then having the refunds put on cash cards. By the time the actual person files their returns, the person perpetrating the fraud is long gone.

Hee, the ads on the side are for H&R Block.

Any more details to share? For the innocent and curious among us?
I don't know a whole lot about the Florida one, just some rumblings. But people are getting bunches of small refunds back and putting them on cards, hoping that the fact that they're small makes them under the radar. I think that the SSA is going to be the weak link in this scheme. Somehow they are going to figure out how the ssns made it out, and go after that person. I think they're filing online, but with public wifi, it might be harder to pin down who it is, although they'll be able to get at least a general location.

Brother Jerry, on the other hand, is a riot. He created false documents essentially showing the people's debts as withholding on 1099-OID. Say you owe $350,000 on your house. Brother Love would create a 1099 showing OID income of say $380,000 and withholding of $375,000. Claim a refund of some of the withholding, He would pocket 30% and you could theoretically pay off most of your mortgage. Legit tax pros are supposed to get suspicious if withholding is in excess of (I think) 28%. But most of Brother Love's clients had their taxes done by his own people. How can you not snicker at a con by someone who calls themselves Brother Jerry Love? We had fun with this one in our classes (I taught a tax update course) and used it to talk about what to do if you have hinky documents.

What an IRS scammer might look like