Follow the Money....

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Frigga said:
Helper, can you lend any personal insights or gut feelings you are having now after seeing some of the evidence?

You knew her... what is going through your head right now. I want to know what your intuition is telling you. TIA- Frigga
Click to expand...

Since we are on the follow the money thread...as I see all this money stashed away it is confirmation for me that what I sensed about her being
"up against it financially" is probable true. I wonder if she knew about all this cash in the house. We never talked about MS. I have known some woman who were very assertive at work and then went home and played a more subservient role to their husbands...I don't know if this is the case or not. Personal friends and family would know better. It's a challenge using my intuition on Teresa's case because my mind is always trying to fill in the blanks with what it knows about her...if that makes sense. Thank you for the question...I'll continue to toss in my 2 cents when I see something that stands out to me...
 
MS is beneficiary of TS’s IRA. I am not knowledgeable about IRA distributions to beneficiaries.

Here are some details I found in Doc Dump 2 –
https://drive.google.com/file/d/0B717FUtKwdU8ZW9YTzBNYnVLdVE/view?pref=2&pli=1
Note: Some BATES numbers are not sequential.

Jackson National Life Insurance Company
IRA Policy 1013700636
Contract Plan Type: Individual Retirement Annuity
Issue Date: June 21, 2013

BATES 3980 - $123,212.63 transferred from UBS Financial Services to Jackson Life Insurance Company via check dated 6/19/13)

Jackson Life Insurance Company - IRA Policy 1013700636:
BATES 3987 - POLICY SUMMARY SHEET – Beneficiary: Mark D Sievers
BATES 3997 - CONTRACT DATA PAGE – Beneficiary: Mark D Sievers
BATES 4024 - IRA ENDORSEMENT –Distributions After Death - Section 8.
BATES 4035 – IRA DISCLOSURE STATEMENT - Distributions After Death - Section 13. (has essentially same detail as BATES 4024)
BATES 4171 - Death Benefit Value – The amount paid to the beneficiary upon the death of the Owner.
BATES 4180 - 6/30/15 Account Value $132,294.25
BATES 4182 - 6/30/15 Death Benefit Value $132,294.25
 
Thanks SeesSeas.
I wonder if there if is anything preventing MS from collecting his beneficiary benefit?
 
FelicityLemon said:
He coulda/shoulda paid it from the $40k cash LE found in the house. :dunno:

------------ I copied the following from homeguides.sfgate.com/happens-irs-puts-lien-house-8010.html:

If you do not pay your tax debt, the IRS may foreclose on your property at any point during the 10-year period in which the lien is valid. If you stop paying your mortgage, and your primary mortgage lender opts to foreclose on the property, the IRS may “redeem” your home by paying your mortgage lender the amount you owed on your mortgage. It then legally owns the property and any equity you built in the home over time with your mortgage payments.
Click to expand...

Please keep in mind. The Irs will not foreclose his home because there is no longer any equity there and other lien holders have to get paid as well. Jmo.

So if the house doesn't sell because it's too expensive in regards to the banks. Then his home will not sell and the irs will not get there money. Jmo.

The irs gets his net from the sale. But they can't intercept the bank that made the sale.

Jmo.
 
Btw. The irs can only take from his net money from a sale. Because the bank that owns the home gets their money first and they don't share it with the irs if the home sells for the exact amount or less. Then the irs can only take from any net profit that Mark may have made.

Jmo. Unless you outright own your home. Or you have plenty of equity that is guaranteed to get the irs their money. Then they usually wait until you pay them. Jmo
 
Re: Being a beneficiary of an IRA

Think of this as a bank account as opposed to a life insurance policy. The fact that the husband is suspected in her death would not change the legality of him being entitled to collect the IRA funds if he was the named beneficiary on the account.
 
AlwaysShocked said:
Re: Being a beneficiary of an IRA

Think of this as a bank account as opposed to a life insurance policy. The fact that the husband is suspected in her death would not change the legality of him being entitled to collect the IRA funds if he was the named beneficiary on the account.
Click to expand...
Yes. MS, as beneficiary of TS’s IRA, would be entitled to the funds in the IRA account. But, not instant access.
The IRA isn’t like a bank account because there isn’t immediate access to the funds in the account.
IRA withdrawals must follow distribution guidelines.

If someone wants to analyze the IRA distribution specifics to a beneficiary, details are on:
BATES 4024 - IRA ENDORSEMENT –Distributions After Death - Section 8.
https://drive.google.com/file/d/0B717FUtKwdU8ZW9YTzBNYnVLdVE/view?pref=2&pli=1

I’m not able to do a screen shot of this page from my computer. Maybe someone else can post an image of the page.
 
KateB said:
Are these legible? I shrank them a little.
Click to expand...
Yes, KateB. Perfect size... When I click the pages, I can read them easily (with my glasses). :tyou:
(The images GREW in my reply)
 
Many intricacies w liens, like IRS filed re taxes due w MS & TS' 2013 personal return.
IRS publications are good starting points for understanding process and taxpayer options. (snooze)

"Publication 594, The IRS Collection Process" (PDF) at p.5
"Collection actions in detail Federal tax lien: A legal claim against property
A lien is a legal claim against all your current and future property.
When you don’t pay your first bill for taxes due, a lien is created by law and attaches to your property. It applies to property (such as your home and car) and to any current and future rights you have to property. Notice of Federal Tax Lien: Provides public notice to creditors that a lien exists A Notice of Federal Tax Lien gives public notice to creditors. We file the Notice of Federal Tax Lien so we can establish the priority of our claim versus the claims of other creditors. The Notice of Federal Tax Lien is filed with local or state authorities, such as county recorder of deeds or the Secretary of State offices...." [^ bbm, not just house]

Besides paying all taxes (& penalties, int, etc), taxpayers have other ways to get rid of lien listed in -
https://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Understanding-a-Federal-Tax-Lien

"Discharge of property"
"A "discharge" removes the lien from specific property... several...(IRC) provisions that determine eligibility...
Publication 783, Instructions on How to Apply for Certificate of Discharge From Federal Tax Lien (PDF)

"Subordination"
"Subordination" does not remove the lien, but allows other creditors to move ahead of the IRS, which may make it easier to get a loan or mortgage.
Publication 784, Instructions on How to Apply for a Certificate of Subordination of Federal Tax Lien (PDF)"

"Withdrawal"
"A "withdrawal" removes the public Notice of Federal Tax Lien and assures that the IRS is not competing with other creditors for your property; however, you are still liable for the amount due. ... Form 12277, Application for the Withdrawal of Filed Form 668(Y), Notice of Federal Tax Lien (Internal Revenue Code Section 6323(j)) (PDF)"

 
al66pine said:
^ snipped for focus
Does the phrase cash-only medical practice mean currency (bills, greenbacks) only? IDTS but could be wrong.

IIUC, it means the medical services provider does not submit claims for services to medical ins co's, to HMOs, to Medicare or Medicaid, or to third parties. Means no credit, that provider does not perform a service then allow a pt to make monthly or weekly payments afterward. Means payment is due when service is provided.

Seems a cash-only practice could accept as payment - Master CC, Visa CC, Master debit cards, Visa debit cards, personal checks, money orders.

W. that interp (if true), seems some/many/most(?) patients would pay by one of ^ those, not w currency.

But as AlwaysShocked noted, IRS may very well have been put MS & TS's 1040 return under the microscope. JM2cts.
Click to expand...

I was a patient of Dr. Sievers for 5 plus years and I always paid with my VISA. You had the option of Check, Credit Card or Cash.
 
SeesSeas said:
Yes, KateB. Perfect size... When I click the pages, I can read them easily (with my glasses). :tyou:
(The images GREW in my reply)
Click to expand...

Yes, this version of Vbulletin is goofy with photos, thumbnails and attachments and how they sometimes are large, sometimes they are thumbnails, sometimes they display twice, and sometimes they change after a period of time.

Here's another project we're working on...putting the crime scene pdf photos back into individual jpg photos. Keep your eye on this folder, we'll be adding the rest, rotating, sorting, and resorting the more graphic ones into topical folders for some sort of organization. That should make it easier to save, resize, zoom in and crop to add to your posts. First 500 are up. We'll probably finish the rest over the long holiday weekend coming up.

https://drive.google.com/open?id=0B717FUtKwdU8VjNJU2JYclg5Mk0
 
KateB said:
Yes, this version of Vbulletin is goofy with photos, thumbnails and attachments and how they sometimes are large, sometimes they are thumbnails, sometimes they display twice, and sometimes they change after a period of time.

Here's another project we're working on...putting the crime scene pdf photos back into individual jpg photos. Keep your eye on this folder, we'll be adding the rest, rotating, sorting, and resorting the more graphic ones into topical folders for some sort of organization. That should make it easier to save, resize, zoom in and crop to add to your posts. First 500 are up. We'll probably finish the rest over the long holiday weekend coming up.

https://drive.google.com/open?id=0B717FUtKwdU8VjNJU2JYclg5Mk0
Click to expand...

This is great!
 
KateB said:
Yes, this version of Vbulletin is goofy with photos, thumbnails and attachments and how they sometimes are large, sometimes they are thumbnails, sometimes they display twice, and sometimes they change after a period of time.

Here's another project we're working on...putting the crime scene pdf photos back into individual jpg photos. Keep your eye on this folder, we'll be adding the rest, rotating, sorting, and resorting the more graphic ones into topical folders for some sort of organization. That should make it easier to save, resize, zoom in and crop to add to your posts. First 500 are up. We'll probably finish the rest over the long holiday weekend coming up.

https://drive.google.com/open?id=0B717FUtKwdU8VjNJU2JYclg5Mk0
Click to expand...

I am amazed at that new image thread! Great job and many many thanks for the time and effort that was put into making that thread a reality! I somehow missed a lot of pictures. Poor Dr. P..... who knew that by him doing a "favor" for a f.r.i.e.n.d. < using THAT term very loosely... would throw him into a murder for hire case that would be broadcast all over the National news! I honestly feel so sorry for this man AND his wife. Sounds to me like nothing is going to be off limits with this investigation. Personal PRIVATE life won't be so private anymore, and that's very unfortunate for all the victims MS has left in his wake. :dervish:
 
KateB. Thanks so much to you and others for working on the pictures. I can now see them...and they are right side up, clear and easier for me to blow up....and I missed some of the pictures before! We all appreciate this work, it takes time. A big thank you! :)
 
MS is beneficiary of TS&#8217;s IRA &#8211; Will the Death Benefit amount be reduced by the IRS tax levy?

As beneficiary, MS may have requested a full distribution of TS&#8217;s IRA account, which has a $132,294.25 Death Benefit Value as of 6/30/15:
BATES 4182 - https://drive.google.com/file/d/0B717FUtKwdU8ZW9YTzBNYnVLdVE/view?pref=2&pli=1

Could MS get the full amount or will the IRS garnish the funds in the IRA for the 2013 Form 1040 taxes due?
The IRS Notice of Federal Tax Lien (2013 Form 1040 $32,833.24 assessment) was recorded 11/30/15 on the Jarvis Rd residence. Date of Assessment is 12/01/2014:
http://apps.leeclerk.org/OR/

I was hoping that a Tax Expert would chime in about the IRS rules for IRA&#8217;s.
I delved into some details on the IRS.gov website about IRA beneficiaries:
https://www.irs.gov/publications/p590b/ch01.html#en_US_2015_publink1000230753

IRA Beneficiaries
Date the designated beneficiary is determined. Generally, the designated beneficiary is determined on September 30 of the calendar year following the calendar year of the IRA owner's death. In order to be a designated beneficiary, an individual must be a beneficiary as of the date of death. Any person who was a beneficiary on the date of the owner's death, but is not a beneficiary on September 30 of the calendar year following the calendar year of the owner's death (because, for example, he or she disclaimed entitlement or received his or her entire benefit), will not be taken into account in determining the designated beneficiary.

Early Distributions
You must include early distributions of taxable amounts from your traditional IRA in your gross income. Early distributions are also subject to an additional 10% tax, as discussed later.
Early distributions defined. Early distributions generally are amounts distributed from your traditional IRA account or annuity before you are age 59½, or amounts you receive when you cash in retirement bonds before you are age 59½.

Age 59½ Rule
Generally, if you are under age 59½, you must pay a 10% additional tax on the distribution of any assets (money or other property) from your traditional IRA. Distributions before you are age 59½ are called early distributions.

Exceptions
There are several exceptions to the age 59½ rule. Even if you receive a distribution before you are age 59½, you may not have to pay the 10% additional tax if you are in one of the following situations.

  • You are the beneficiary of a deceased IRA owner.

Beneficiary. If you die before reaching age 59½, the assets in your traditional IRA can be distributed to your beneficiary or to your estate without either having to pay the 10% additional tax.

Chelly said:
Thanks SeesSeas.
I wonder if there if is anything preventing MS from collecting his beneficiary benefit?
Click to expand...

SeesSeas said:
MS is beneficiary of TS&#8217;s IRA. I am not knowledgeable about IRA distributions to beneficiaries.

Here are some details I found in Doc Dump 2 &#8211;
https://drive.google.com/file/d/0B717FUtKwdU8ZW9YTzBNYnVLdVE/view?pref=2&pli=1
Note: Some BATES numbers are not sequential.

Jackson National Life Insurance Company
IRA Policy 1013700636
Contract Plan Type: Individual Retirement Annuity
Issue Date: June 21, 2013

BATES 3980 - $123,212.63 transferred from UBS Financial Services to Jackson Life Insurance Company (via check dated 6/19/13)

Jackson Life Insurance Company - IRA Policy 1013700636:
BATES 3987 - POLICY SUMMARY SHEET &#8211; Beneficiary: Mark D Sievers
BATES 3997 - CONTRACT DATA PAGE &#8211; Beneficiary: Mark D Sievers
BATES 4024 - IRA ENDORSEMENT &#8211;Distributions After Death - Section 8.
BATES 4035 &#8211; IRA DISCLOSURE STATEMENT - Distributions After Death - Section 13. (has essentially same detail as BATES 4024)
BATES 4171 - Death Benefit Value &#8211; The amount paid to the beneficiary upon the death of the Owner.
BATES 4180 - 6/30/15 Account Value $132,294.25
BATES 4182 - 6/30/15 Death Benefit Value $132,294.25
Click to expand...
 
SEESSEAS....This why I don't respond to a lot of "tax questions"...the IRS CODE is 10's of thousands of page long (over 70K pages) and every answer always ends up with "It depends."
You took the time to put up a lot of information on beneficiaries of IRA's.....BUT ALL OF THAT DOES NOT APPLY TO THE BENEFICIARY, IF IT IS THE SPOUSE.
There is no additional 10% penalty for accessing the funds before age 59 1/2, in this scenario...just ordinary income tax rate would apply. (It depends) A beneficiary spouse could also roll-over the funds and make it "an inherited IRA for their future benefit". IT DEPENDS
Everyone wants a SIMPLE TAX ANSWER...there aren't any!
Even if he hired the killers of his wife, he gets to file his tax return for 2015 as MARRIED and can file a joint return with his deceased wife, and can claim a refund, too....if there is one coming!! For 2 more years after (2016/2017) he can file as a QUALIFYING WIDOW/WIDOWER and get extra tax benefits....of course supposing he has not been arrested, convicted and still has custody of his daughters...again, IT DEPENDS.
 
IQuestion said:
SEESSEAS....This why I don't respond to a lot of "tax questions"...the IRS CODE is 10's of thousands of page long (over 70K pages) and every answer always ends up with "It depends."
You took the time to put up a lot of information on beneficiaries of IRA's.....BUT ALL OF THAT DOES NOT APPLY TO THE BENEFICIARY, IF IT IS THE SPOUSE.
There is no additional 10% penalty for accessing the funds before age 59 1/2, in this scenario...just ordinary income tax rate would apply. (It depends) A beneficiary spouse could also roll-over the funds and make it "an inherited IRA for their future benefit". IT DEPENDS
Everyone wants a SIMPLE TAX ANSWER...there aren't any!
Even if he hired the killers of his wife, he gets to file his tax return for 2015 as MARRIED and can file a joint return with his deceased wife, and can claim a refund, too....if there is one coming!! For 2 more years after (2016/2017) he can file as a QUALIFYING WIDOW/WIDOWER and get extra tax benefits....of course supposing he has not been arrested, convicted and still has custody of his daughters...again, IT DEPENDS.
Click to expand...
IQuestion &#8211; Most of what I posted was for the benefit of other WS readers&#8230;.so that others could FOLLOW the bread crumbs . . . . . . . . . . . . . . .

. . . . which is why I ended my comment with this IRS quote: &#8220;Beneficiary. If you die before reaching age 59½, the assets in your traditional IRA can be distributed to your beneficiary or to your estate without either having to pay the 10% additional tax.&#8220;

There isn&#8217;t a simple answer. But there IS always an answer.

FWIW - I think MS has already withdrawn the balance in this IRA.
 
From reading this IRS info ( rbm & bbm), I don't have an answer and hope one of our special wizards will analyze, interp, & post.

p 6. Pub.594 The IRS Collection Process https://www.irs.gov/pub/irs-pdf/p594.pdf

"Examples of property we can seize (“levy”)"
"• Wages, salary, or commission held by someone else
If we seize your rights to wages, salary, commissions, or similar payments that are held by someone else, we will serve a levy once, not each time you’re paid. The one levy continues until your debt is fully paid, other arrangements are made, or the collection period ends. Other payments you receive, such as dividends and payments on promissory notes, are also subject to seizure. However, the seizure only reaches the payments due or the right to future payments as of the date of the levy.
• Your bank account
Seizure of the funds in your bank account will include funds available for withdrawal up to the amount of the seizure. After the levy is issued, the bank will hold the available funds and give you 21 days to resolve any disputes about who owns the account before sending us the money. After 21 days, the bank will send us your money, and any interest earned on that amount, unless you have resolved the issue in another way.
• Your federal payments
As an alternative to the levy procedure used for other payments such as dividends and promissory notes, certain federal payments may be systemically seized through the Federal Payment Levy Program in order to pay your tax debt. Under this program, we can generally seize up to 15% of your federal payments (up to 100% of payments due to a vendor for goods or services sold or leased to the federal government). We will serve the levy once, not each time you are paid. The levy continues until your debt is fully paid, other arrangements are made, the collection period ends, or the IRS releases the levy. The federal payments that can be seized in this program include, but aren’t limited to, federal retirement annuity income from the Office of Personnel Management, Social Security benefits [Anyone know if this would include SS payments made for the benefit of the 2 dau's?] under Title II of the Social Security Act (OASDI), and federal contractor/vendor payments.
• Your house, car, or other property
If we seize your house or other property, we will sell your interest in the property and apply the proceeds (after the costs of the sale) to your tax debt. Prior to selling your property, we will calculate a minimum bid price. We will also provide you with a copy of the calculation and give you an opportunity to challenge the fair market value determination. We will then provide you with the notice of sale and announce the pending sale to the public, usually through local newspapers or flyers posted in public places. After giving public notice, we will generally wait 10 days before selling your property. Money from the sale pays for the cost of seizing and selling the property and, finally, your tax debt. If there’s money left over from the sale after paying off your tax debt, we will tell you how to get a refund."

"Property that can’t be seized (“levied”)
Certain property is exempt from seizure. For example, we can’t seize the following: unemployment benefits, certain annuity and pension benefits, certain service-connected disability payments, workers compensation, certain public assistance payments, minimum weekly exempt income, assistance under the Job Training Partnership Act, and income for court-ordered child support payments.
We also can’t seize necessary schoolbooks and clothing, undelivered mail, certain amounts worth of fuel, provisions, furniture, personal effects for a household, and certain amounts worth of books and tools for trade, business, or professions. There are also limitations on our ability to seize a primary residence and certain business assets.
Lastly, we can’t seize your property unless we expect net proceeds to help pay off your tax debt."

see also https://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Understanding-a-Federal-Tax-Lien
 
al66pine &#8211; Thanks for finding that. So, some property is exempt from IRS seizure, like certain annuity and pension benefits. And, there are limitations on IRS&#8217;s seizure of a primary residence.

MS likely has all of the IRA funds in his possession. But, if he deposited the IRA money in a bank account, then IRS might seize the bank account.

Something else interesting I read at the IRS link you posted is about Innocent Spouse Relief. It seems that MS could perhaps request this relief for the IRS Tax Lien for the 2013 Form 1040 taxes.

Page 8 - https://www.irs.gov/pub/irs-pdf/p594.pdf
Innocent Spouse Relief
Generally, both you and your spouse are responsible, jointly and individually, for paying any tax, interest, or penalties on your joint return. If you believe your current or former spouse should be solely responsible for an incorrect item or an underpayment of tax on your joint tax return, you may be eligible for Innocent Spouse Relief. This could change the amount you owe, or you may be entitled to a refund. You must submit Form 8857, Request for Innocent Spouse Relief, no later than two years from the date of our first attempt to collect the outstanding debt, except for requests for equitable relief under Internal Revenue Code section 6015(f). For additional information, see Publication 971, Innocent Spouse Relief

al66pine said:
From reading this IRS info ( rbm & bbm), I don't have an answer and hope one of our special wizards will analyze, interp, & post.

p 6. Pub.594 The IRS Collection Process https://www.irs.gov/pub/irs-pdf/p594.pdf

"Examples of property we can seize (&#8220;levy&#8221;)"
"&#8226; Wages, salary, or commission held by someone else
If we seize your rights to wages, salary, commissions, or similar payments that are held by someone else, we will serve a levy once, not each time you&#8217;re paid. The one levy continues until your debt is fully paid, other arrangements are made, or the collection period ends. Other payments you receive, such as dividends and payments on promissory notes, are also subject to seizure. However, the seizure only reaches the payments due or the right to future payments as of the date of the levy.
&#8226; Your bank account
Seizure of the funds in your bank account will include funds available for withdrawal up to the amount of the seizure. After the levy is issued, the bank will hold the available funds and give you 21 days to resolve any disputes about who owns the account before sending us the money. After 21 days, the bank will send us your money, and any interest earned on that amount, unless you have resolved the issue in another way.
&#8226; Your federal payments
As an alternative to the levy procedure used for other payments such as dividends and promissory notes, certain federal payments may be systemically seized through the Federal Payment Levy Program in order to pay your tax debt. Under this program, we can generally seize up to 15% of your federal payments (up to 100% of payments due to a vendor for goods or services sold or leased to the federal government). We will serve the levy once, not each time you are paid. The levy continues until your debt is fully paid, other arrangements are made, the collection period ends, or the IRS releases the levy. The federal payments that can be seized in this program include, but aren&#8217;t limited to, federal retirement annuity income from the Office of Personnel Management, Social Security benefits [Anyone know if this would include SS payments made for the benefit of the 2 dau's?] under Title II of the Social Security Act (OASDI), and federal contractor/vendor payments.
&#8226; Your house, car, or other property
If we seize your house or other property, we will sell your interest in the property and apply the proceeds (after the costs of the sale) to your tax debt. Prior to selling your property, we will calculate a minimum bid price. We will also provide you with a copy of the calculation and give you an opportunity to challenge the fair market value determination. We will then provide you with the notice of sale and announce the pending sale to the public, usually through local newspapers or flyers posted in public places. After giving public notice, we will generally wait 10 days before selling your property. Money from the sale pays for the cost of seizing and selling the property and, finally, your tax debt. If there&#8217;s money left over from the sale after paying off your tax debt, we will tell you how to get a refund."

"Property that can&#8217;t be seized (&#8220;levied&#8221;)
Certain property is exempt from seizure. For example, we can&#8217;t seize the following: unemployment benefits, certain annuity and pension benefits, certain service-connected disability payments, workers compensation, certain public assistance payments, minimum weekly exempt income, assistance under the Job Training Partnership Act, and income for court-ordered child support payments.
We also can&#8217;t seize necessary schoolbooks and clothing, undelivered mail, certain amounts worth of fuel, provisions, furniture, personal effects for a household, and certain amounts worth of books and tools for trade, business, or professions. There are also limitations on our ability to seize a primary residence and certain business assets.
Lastly, we can&#8217;t seize your property unless we expect net proceeds to help pay off your tax debt."

see also https://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Understanding-a-Federal-Tax-Lien
Click to expand...
 
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