If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Los Cerritos News)   After 13 shootings, the "Baby Insane Crip" street gang gets raided by just about everybody, for funding lavish lifestyles through... tax fraud? Great, now we've got white-collar Crips   (loscerritosnews.net) divider line 36
    More: Unlikely, Crips, tax fraud, raid, crew, United States Secret Service, Long Beach, financial crimes, shootings  
•       •       •

6589 clicks; posted to Main » on 07 Dec 2012 at 7:14 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



36 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest

Archived thread
 
2012-12-07 07:27:08 AM
baby buggy cryps should just join the blue uniforms badge wearing gang and rip it up no holds barred.
 
2012-12-07 07:27:31 AM
I don't get it, where are the shooting and murder charges?

No one is getting the death penalty for identity theft.
 
2012-12-07 07:34:20 AM
This is why you shouldn't trust psychotic infants with your accountancy needs.
 
2012-12-07 07:36:50 AM
put them on the same block as Madoff
 
2012-12-07 07:37:00 AM
They should have heeded the lesson of Al Capone: No one should mess with the IRS.
 
2012-12-07 07:38:26 AM
White collar crips are just amatuers compared to most CEOs
 
2012-12-07 07:44:32 AM
Was the Deputy Director of Operations for Joint Systems Interdepartmental Operational Command on the scene for the bust?
 
2012-12-07 07:54:25 AM
they all work for Bain Capital and Goldman Sachs.
 
2012-12-07 08:08:13 AM
When running your illegal operations, always report your income and expenses on Schedule C. That way the IRS can't come after you. Now the police, that is a whole different matter, but always report ALL your income.
 
2012-12-07 08:09:09 AM
steynian.files.wordpress.com
 
2012-12-07 08:17:55 AM
THOUSANDS of dollars have been lost because of these hooligans. Thousands. Let that sink in for a minute.
 
2012-12-07 08:38:23 AM

Langdon_777: I don't get it, where are the shooting and murder charges?

No one is getting the death penalty for identity theft.



Sounds like they did an Al Capone when they didn't have enough evidence to prosecute the shootings. Gangland killings are notoriously hard to prosecute. I mean if one of them popped a rival drug dealer or something it's not like a lot of witnesses are going to be stepping forward.
 
2012-12-07 08:39:30 AM
content6.flixster.com

Approves.
 
2012-12-07 08:44:18 AM
Isnt it Racist to report this?
 
2012-12-07 08:51:12 AM
www.badassoftheweek.com

"They never learn."
 
2012-12-07 08:56:29 AM

Sybarite: Langdon_777: I don't get it, where are the shooting and murder charges?

No one is getting the death penalty for identity theft.


Sounds like they did an Al Capone when they didn't have enough evidence to prosecute the shootings. Gangland killings are notoriously hard to prosecute. I mean if one of them popped a rival drug dealer or something it's not like a lot of witnesses are going to be stepping forward.


Someone will eventually flip and give them all the other evidence they need.
 
2012-12-07 09:26:09 AM
It is possible that the IRS found about their fraudulent tax filing early and these are actually the numbers. Fraudulent tax returns are a huge problem, and there is a shortage of IRS special agents. The IRS is definitely going to be involved in the gang bust. This is low hanging fruit. I am very skeptical about the amounts; the numbers stated have to be what they knew about before the bust. I am sure they are busy finding the rest of the money right now. The IRS wants their money. Or, at the very least, to send them to prison on fraud charges.

They are going to prison on tax charges even if none of the other charges stick.
 
2012-12-07 09:32:28 AM

Wolf_Cub: When running your illegal operations, always report your income and expenses on Schedule C. That way the IRS can't come after you. Now the police, that is a whole different matter, but always report ALL your income.


Wrong. Illegally earned income is reported on line 21 of your 1040.
 
2012-12-07 09:36:24 AM
came in for soa reference ...

/still waiting.
 
2012-12-07 09:57:11 AM

Ghengis_Socrates: Wolf_Cub: When running your illegal operations, always report your income and expenses on Schedule C. That way the IRS can't come after you. Now the police, that is a whole different matter, but always report ALL your income.

Wrong. Illegally earned income is reported on line 21 of your 1040.


It depends on where the income comes from and if you have offsetting costs and losses. Presumably they're running this as an organization with some sort of payroll and operating expenses and inventory, so if there's one person at the top overseeing it and providing capital he should do a Schedule C. The underlings should file it on line 21, and write off bandanas and ammo as personal business expenses.
 
2012-12-07 09:59:03 AM

SirDigbyChickenCaesar: put them on the same block as Madoff


No doubt about it.
 
2012-12-07 10:05:10 AM
Awe, how cute! Wook at da widdle baby cwips.

That's street cred right there.
 
2012-12-07 10:16:00 AM
When do we declare the War on Tax Fraud?
 
2012-12-07 10:17:09 AM
This investigation started in 2009? I'm still waiting for the first arrest related to the financial collapse in...2008.
 
2012-12-07 10:18:23 AM
Wow. That list of names in TFA. Every single one of them Irish! Who'd a thunk it!
 
2012-12-07 10:36:54 AM

Sybarite: Sounds like they did an Al Capone when they didn't have enough evidence to prosecute the shootings. Gangland killings are notoriously hard to prosecute. I mean if one of them popped a rival drug dealer or something it's not like a lot of witnesses are going to be stepping forward.


Nah, this is actually something the IRS has been cracking down on quite recently. It's a new form of ID theft - instead of raiding your bank account or your credit card, the gangsters file for your tax return. Since the IRS has cut the bureaucracy down quite a bit, they can get the cash direct deposited in an account quite quickly. Plus, until recently, the IRS had less security in place to stop this sort of thing. Here's a report from earlier this month that says they investigated less than 900 of over 640,000 incidents of tax-return fraud this year. All you need to pull something like this is a name and an SSN - no mother's maiden name, or security code on the back of the card, or PIN, or signature, or any of that BS. Now imagine how many times you've heard of breaches of SSNs being dumped on the internet.

So, this is going to be one of a string of high-profile arrests to let the crooks know they're stepping up enforcement, but the bottom line is that it'll still be going on and more and more crooks will do this to supplement their other identity theft schemes.
 
2012-12-07 10:51:14 AM

CreamFilling: It depends on where the income comes from and if you have offsetting costs and losses. Presumably they're running this as an organization with some sort of payroll and operating expenses and inventory, so if there's one person at the top overseeing it and providing capital he should do a Schedule C. The underlings should file it on line 21, and write off bandanas and ammo as personal business expenses.


Sort of. The courts have held that only expenses directly related to production are deductible. You certainly could file a schedule C, but there are pros and cons. One of the cons is that you are either providing fake information ( e.g. "inventory of widgets" vs. "inventory of dope") or you are telling them exactly what you are up to. If you are providing correct information, you are gonna get busted quickly. Another is that no reputable tax professional would sign a return that has false information, even if the numbers are correct. Yes, you could self prepare, but you will then need tax representation later. It is probably better to just put it on line 21, IMO.
 
2012-12-07 11:11:05 AM

Ghengis_Socrates: CreamFilling: It depends on where the income comes from and if you have offsetting costs and losses. Presumably they're running this as an organization with some sort of payroll and operating expenses and inventory, so if there's one person at the top overseeing it and providing capital he should do a Schedule C. The underlings should file it on line 21, and write off bandanas and ammo as personal business expenses.

Sort of. The courts have held that only expenses directly related to production are deductible. You certainly could file a schedule C, but there are pros and cons. One of the cons is that you are either providing fake information ( e.g. "inventory of widgets" vs. "inventory of dope") or you are telling them exactly what you are up to. If you are providing correct information, you are gonna get busted quickly. Another is that no reputable tax professional would sign a return that has false information, even if the numbers are correct. Yes, you could self prepare, but you will then need tax representation later. It is probably better to just put it on line 21, IMO.


Well, it depends on how you define production. If what you're offering is a service, then it'svery diffrent than if you're selling a tangible good. In any event, just TurboTax it.
 
2012-12-07 11:24:19 AM

CreamFilling: Well, it depends on how you define production. If what you're offering is a service, then it'svery diffrent than if you're selling a tangible good. In any event, just TurboTax it.


True. The bottom line is that everything is fine until you get audited. Once you get audited, it gets tricky... Hookers generally don't get ratted out by the IRS so long as they have properly declared their profits and deductions. Large scale gang perpetrating return fraud, not so much.
 
2012-12-07 12:12:13 PM

CreamFilling: Ghengis_Socrates: Wolf_Cub: When running your illegal operations, always report your income and expenses on Schedule C. That way the IRS can't come after you. Now the police, that is a whole different matter, but always report ALL your income.

Wrong. Illegally earned income is reported on line 21 of your 1040.

It depends on where the income comes from and if you have offsetting costs and losses. Presumably they're running this as an organization with some sort of payroll and operating expenses and inventory, so if there's one person at the top overseeing it and providing capital he should do a Schedule C. The underlings should file it on line 21, and write off bandanas and ammo as personal business expenses.


Would replacement lowriders and weapons be listed as business-necessary equipment?
 
2012-12-07 12:34:47 PM
This is what they were doing (video). Why pull a gun on someone when you can steal millions of dollars by purchasing a debit card at Target and then posting a form on the web? It's as simple and easy as that.
 
2012-12-07 12:55:40 PM
1. The government will never care as much about lives as it does about money.
2. If you are 40 years old and still in a "gang" you are a POS loser among POS losers and nothing that happens to you will be met with the slightest twinge of sympathy from me.
 
2012-12-07 02:31:54 PM

Hugo Zorilla: Would replacement lowriders and weapons be listed as business-necessary equipment?


In my view, they are usual and necessary, but I am fairly sure the IRS would not see it that way. If you are a gangsta, hire a lawyer to hire an a tax professional for you. That way, you have full privilege to discuss your tax matters.
 
2012-12-07 02:39:54 PM
I thought white collar crips were called Mormons, and Mitt Romney was their leader.
 
2012-12-07 07:07:58 PM

Hugo Zorilla:

Would replacement lowriders and weapons be listed as business-necessary equipment?


More likely you would use equipment depreciation, assuming you have managed to keep those assets more then a year or so, and they have been used in business practices. Form 4562.
 
2012-12-08 12:20:35 AM

hairywoogit: Hugo Zorilla:

Would replacement lowriders and weapons be listed as business-necessary equipment?

More likely you would use equipment depreciation, assuming you have managed to keep those assets more then a year or so, and they have been used in business practices. Form 4562.


Ok. Good to know.

Ghengis_Socrates: Hugo Zorilla: Would replacement lowriders and weapons be listed as business-necessary equipment?

In my view, they are usual and necessary, but I am fairly sure the IRS would not see it that way. If you are a gangsta, hire a lawyer to hire an a tax professional for you. That way, you have full privilege to discuss your tax matters.


A handy piece of info there.
 
Displayed 36 of 36 comments

View Voting Results: Smartest and Funniest


This thread is archived, and closed to new comments.

Continue Farking
Submit a Link »






Report