Results 26 to 43 of 43
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02-09-2016, 08:13 AM #26
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- Oct 2013
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There was a deal we actually funded and "the authorities" got in touch with us because they believed the person may or may not be using the money to sponsor terrorism. Now this happened pre-ISIS and the Bedroom radicalization that seems more common place now but it was still a wake up call.
Side note: we DID NOT get paid back.
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02-09-2016, 09:13 AM #27
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02-09-2016, 10:25 AM #28
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- Jul 2014
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02-09-2016, 10:27 AM #29
Merchant had open litigation for prostitution arrest - it was a spa business.
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02-09-2016, 10:49 AM #30
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- Oct 2013
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02-09-2016, 01:28 PM #31
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- Sep 2014
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- 430
Not a decline reason, but still a good one. I can't recall the exact amount, lets say it was $100k. The merchant called up obviously upset that the full amount didn't hit their account. We looked into it on our side and the wire went out correctly, but somehow only a portion of the proceeds hit their account. It was a pretty big delta. Let's call it $20k that hit their account. Turns out they had an open tax liability, but no lien filed so we didn't catch it in UW. The IRS intercepted the wire and took the outstanding liability and deposited the rest into the account.
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02-09-2016, 01:41 PM #32
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- Oct 2013
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02-09-2016, 02:07 PM #33
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02-09-2016, 02:28 PM #34
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- Jul 2014
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02-09-2016, 02:31 PM #35
TOTALLY legal...you shouldn't be giving the money to the merchant when he owes it to the IRS
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02-09-2016, 02:33 PM #36
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- Jan 2014
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02-09-2016, 02:35 PM #37
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- Jul 2014
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02-09-2016, 02:47 PM #38
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- Oct 2013
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I know....here's a quick story, my first year as a 1099 employee, I didn't have Corp set up...so I got my 1099 for 99,237 dollars...the IRS promptly told I owe the m37K in taxes. Obviously couldn't afford that so I went into an "auto debited" payment plan (they wont file a lien if they can auto debit your account) and I will be paid off this year after giving hem 53K in total If that aint gangster then WTF...John Gotti aint got nothing on the IRS. Shakedown.
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02-09-2016, 02:57 PM #39
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- Sep 2014
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- 430
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02-09-2016, 03:06 PM #40
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- Jan 2014
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02-09-2016, 03:06 PM #41
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- Jun 2015
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- 3,320
i had a merchant that had no liens on his business at all . All of a sudden all his accounts are levied and no money can go out . long story short , he was a 20% owner in another business that closed 7 years ago . the irs had a lien on the 80% owner . That guy moved to italy so they just hit my merchant with the lien . it took him months and thousands of dollars to get it off
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02-09-2016, 03:07 PM #42
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- Jul 2014
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02-10-2016, 03:32 PM #43
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- Oct 2014
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- 260
CHAPPELLE_01_0104_REPARATIONS2_640x360.jpg
How the IRS be after this deal went down lolSecond place? Set of steak knives.
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