Senior out from under a IRS Tax Lien & making money on it?

justcallmetommy · **Joined:** Thu May 01, 2008 8:25 pm **Posts:** 5662

How convenient. http://nwigazette.com/?p=2526

Gazette photo.

Just read Sr's crown point mansion was sold at a tax auction... price paid? $1,600,000.00. Jr owed, no excuse me Sr owed some where north of $111,000 which included annual taxes of $21,000 plus penalties.

Now as I read the article and comments, $1,600,000 minus $111,000 means Sr would get a check of about $1,489,000 after payment of taxes. Now this type of cash falling from the heavens happens on occasion, not often, but it happens, Sr would have quite a windfall!

Now who knows if there was more than one bidder, hopefully so, cause otherwise, a payment, this much in excess of the taxes owed would be another story.

But the interesting thing here is, the last time I checked, McDermott Sr had an FEDERAL IRS TAX LIEN of somewhere around $1,400,000 to $1,600,000 more or less. Maybe Jr paid off, excuse me Sr paid off some of the FEDERAL IRS TAX LIEN. As to the Jr paid off comment, I get so confused between Jr and Sr sometimes, but lets make it perfectly clear Jr does use your tax dollar for paying off people.

So if there was a payment in excess, the IRS would snatch up the difference above the $111,000 and keep the difference between the $1,600,000 and IRS TAX LIEN.

Now it's been rumored McDermott Sr has had partial interest in a couple of restaurants. And there is speculation McDermott Sr is very well may be part of the ownership team in the new oxbow landing chicken wing franchise. An IRS Lien very well may present some difficulty for his restaurant partners, and this new found cash cleans that up very well.

So someone purchasing his property at a tax sale for the amount stated, maybe a convenient way to give Sr a monetary gift.

justcallmetommy · **Joined:** Thu May 01, 2008 8:25 pm **Posts:** 5662

Someone else stated to me, not sure if it is true, but the buyer of McDermott's Sr.'s Crown Point Mansion, just happens to rent from one of Sr's best friends.... and that friend owns the property, in which they buyer happens to lease a suite, owned by one of Sr's best friends... Dean White.

God this world is just full of coincidences. I am sure there is nothing, absolutely nothing, or as some say nuthing under foot here.

Keep walking nothing to see here.... :smt003

Tiger1 · **Posted:** Fri Oct 31, 2014 7:28 pm

This whole deal stinks to high heaven. :evil:

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Senior out from under a IRS Tax Lien & making money on it?

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