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8114Re: [tips_and_tricks] Re: Legal Fictions

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  • gary
    Apr 6, 2005
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      Thanks for the explanation, I have some comments below.
      ----- Original Message -----
      Sent: Wednesday, April 06, 2005 1:13 AM
      Subject: RE: [tips_and_tricks] Re: Legal Fictions

      Gary --
      Good question, but its logic will lead you to what I have been saying.  I will explain, but first I will correct a fundamental misunderstanding you have concerning the IMF.
      The IMF is generated every year regardless of whether or not you file a return, on or about the first week in January.  The IRS creates the entity portion based on the previous year's IMF.  The module and transaction portions will remain blank until you file a return.  If you request your IMF-Specific in February of any given year, you will receive an IMF with the entity portion completed and the module and transaction portions will be blank.  If you do not file, your IMF will remain this way for usually two years.  Then the IRS will process a Transaction Code 424, which starts the process of completing the SFR with lots of other transactions that add taxes and penalties and interest.
      *** This is not what happened in my case.  The last year I filed was 91 (tax year 90) and there was a W2 during 91 but I did not file in 92.  About the end of 92, after some letters requesting that I file a return they went ahead and did the SFR and an IMF was created for that year.  They did an exaimination and using the Bereau of Labor Statistics tables, they imputed income to me of 38k (W2 was for about 8.5K).  Several years later, I requested copies of my IMF specific for 90 through 95 and was told that no IMFs existed after 91.
        Stat Codes recording the collection letters the IRS sends to you will be added over the next few months to a couple of years.  Sooner or later, the IRS will make an attempt to lien or levy your assets if the IRS deems you to be profitable (there are two fields in the IMF that render a "score" that tells the IRS if you would be a profitable account to pursue).  If the IRS deems you to be not profitable (assets hidden, or difficult to snatch), then sooner or later the IRS stops pursuing you for that year.  After 2 or 3 years of non-filing, the IRS will add everything together and go after you regardless of your assets, simply because the total amount due (in the eyes of the IRS) is large enough to warrant serious collection efforts.
      *** They have filed their notice of tax lien (I don't own any property and don't have a bank account and don't work for a wage) and the only thing I get from them about once a year is a bill showing what they say I owe now. 
      The IMF is created 2-3 years before the SFR is created, and maybe more.
      *** It appeared to me that they were created about the same time in my case.
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