Welcome Guest
Log In | Register )
You last visited December 5, 2016, 7:43 pm
All times shown are
Eastern Time (GMT-5:00)

Lottery-winning couple 'defrauded' by tax business

Topic closed. 24 replies. Last post 3 months ago by One-Day.

Page 2 of 2
52
PrintE-mailLink
Avatar
USA
United States
Member #172127
January 16, 2016
98 Posts
Offline
Posted: September 7, 2016, 4:12 am - IP Logged

"There are plenty of people here who post  things that demonstrate that they don't have a clue about even the simplest aspects of tax law."

you are correct.

I honestly am not a tax expert either. what I do know is that there are so many changes that occur from year to year,
it is hard to keep track of them all. I would'nt even try to file taxes in a situation like that untill I spoke to half a dozen reputible accountants that
are tied to major firms. the last thing I'm going to do is go to some B.S. company out of Wazoo, or BF Egypt.

most of the IRS workers, are not tax experts either. they are just trained civil servants who look for "red flags" in citizens tax reports.

My question is...was there any point in time where the couple had a gut feeling
that there wasn't something quite right about all of this?

I feel the same way, when I did Taxes it was almost 30 yrs ago started when I was still a Teenage and continued though College and after that was before the Lotto even started, like you say every year had to take a class and be updated on new Laws and Reg.'s before doing Taxes I can't even imagine what it's like now to do them..

I did know the loopholes and other Honest ways to help Client's not have to claim certain things that other so CALLED CPA'S would try to make you pay on. I had a friend call me right after I started his Parents had came back from their CPA they had been using for their Business for many years, he told me they owed over $58,000. in Taxes and had never owed that much before, I took a look at their Returns and their Tax person made a mistake, I redid them and they even received money back!

When It comes to Taxes You Have to Have someone you know You can TRUST, that's It Bottom Line, You can't go to just anywhere they'll either over charge you or go straight by the book they don't care it's not their money!!!

HAPPY HOLIDAYS, BE SAFE & GOOD LUCK Y'ALL Sad Wavey

    helpmewin's avatar - dandy
    u$a
    United States
    Member #106665
    February 22, 2011
    19771 Posts
    Offline
    Posted: September 7, 2016, 12:50 pm - IP Logged

    Well that's not good maybe they can write it off as a loss.

    Let it Snow Snowman

      HaveABall's avatar - rocket

      United States
      Member #72448
      March 18, 2009
      1228 Posts
      Offline
      Posted: September 7, 2016, 5:50 pm - IP Logged

      I wonder how much this couple won from the Illinois Lottery's scratch off game? Thinking of...

      Having several millions of dollars in my financial accounts means receiving several valuable services each day!

      Disney

        Avatar
        Phoenix, AZ
        United States
        Member #108844
        April 1, 2011
        28 Posts
        Offline
        Posted: September 7, 2016, 11:31 pm - IP Logged

        I  also  say Congrats on the win!Hyper

        It is terrible that this couple was treated so unfairlyUnhappy

          Nikkicute's avatar - nnjx1k
          Wisconsin
          United States
          Member #123290
          February 17, 2012
          3048 Posts
          Offline
          Posted: September 8, 2016, 10:03 pm - IP Logged

          Any tax preparation service that has the word "EXPRESS" in it's name: Run!!

            Drenick1's avatar - villiarna
            USA
            United States
            Member #152799
            February 25, 2014
            1092 Posts
            Offline
            Posted: September 9, 2016, 8:43 am - IP Logged

            I wonder how much this couple won from the Illinois Lottery's scratch off game? Thinking of...

            They are lucky they even got paid. I wouldn't risk buying any lottery tickets from Illinois.

              Avatar
              Simpsonville
              United States
              Member #163189
              January 22, 2015
              669 Posts
              Offline
              Posted: September 9, 2016, 9:07 am - IP Logged

              They are lucky they even got paid. I wouldn't risk buying any lottery tickets from Illinois.

              Video said $1 million pre-tax.

                dallascowboyfan's avatar - tiana the-princess-and-the-frog.jpg
                Oklahoma
                United States
                Member #82391
                November 12, 2009
                6290 Posts
                Offline
                Posted: September 9, 2016, 12:15 pm - IP Logged

                Smh...It's sad that the harder it takes to make your money. You have those working just as hard to swindle you out of it.

                Truth....

                I Love Pink & Green 1908

                  LottoAce's avatar - WWI Flying_Ace.gif
                  N.C.
                  United States
                  Member #56005
                  October 28, 2007
                  830 Posts
                  Offline
                  Posted: September 11, 2016, 11:32 am - IP Logged

                  Any tax preparation service that has the word "EXPRESS" in it's name: Run!!

                  no kidding!

                  "know your limitations, but excede your expectations"

                    Avatar
                    Portland, OR
                    United States
                    Member #145973
                    August 20, 2013
                    226 Posts
                    Offline
                    Posted: September 11, 2016, 2:50 pm - IP Logged

                    THAT'S what Mark Cuban says.  Lots of eagles smarter than you are out there in suit and tie waiting to wipe you, the smartest of the smartest, clean of your money.  Unless you are a Wallstreet hawk, it is silly to choose the lump sum.  Paraphrasing what he said in some show.  Lottery money managing/handling is not as easy task as many on this forum make it seem.  Reality is different.

                    "Understand... people are more complicated than the masks they wear in society... everyone is playing to win, and some people will use moral justifications to advance their side"

                                                                                                                                                                              Robert Greene