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Camp Fema Debtors Prison?

 
Anonymous Coward
User ID: 2704006
United States
05/19/2012 07:38 PM
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Camp Fema Debtors Prison?
Somebody that I know very well showed me a letter received from the IRS that was somewhat scary to me when you think about the implications of it. This person defaulted on a credit card in the late 1990's due to a divorce. It was ordered that both parties pay their part of the debt which was figured out civilly by both of them. My friend paid but did not know that the other did not.

To get to the point: The bank apparently just wrote the debt off in 2011 and the letter received from the IRS stated that my friend owes $600.00 because the credit was not reported in that tax year as income.

I never heard of this before now and wonder how many people have or will be receiving these letters of enforcement. This is a crafty way to have debtor prison without knowing that is what is happening. Owing the IRS is much different than owing a bank and Ive seen so many reports about loan and credit defaults that this made me think that the fema camps were built for this reason. The letter stated under the (what is this?) category that it was a credit default or foreclosure that was not reported as income. Pay attention if you have defaulted in that several years because this is real
Anonymous Coward
User ID: 9014106
Australia
05/19/2012 07:44 PM
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Re: Camp Fema Debtors Prison?
This is total BS!

It's time the people united against the REAL terrorists.

Looks like the showdown will be soon...
Anonymous Coward
User ID: 5739241
United States
05/19/2012 07:45 PM
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Re: Camp Fema Debtors Prison?
I guess the entire government will going for putting the national debt in the trillions?
Anonymous Coward (OP)
User ID: 2704006
United States
05/19/2012 07:48 PM
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Re: Camp Fema Debtors Prison?
Im looking at the letter right now it says "cancellation of debt". If a Federal Government Agency, Financial Institution, Credit Union, or other lender cancels or forgives a debt you owe, the lender will be required to notify the IRS of the cancellation, and you must generally include the cancelled amount as income on your tax return.

exact words
Mia41 (OP)

User ID: 2704006
United States
05/19/2012 07:51 PM

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Re: Camp Fema Debtors Prison?
bump
Anonymous Coward (OP)
User ID: 2704006
United States
05/19/2012 07:54 PM
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Re: Camp Fema Debtors Prison?
Heres a link to the form needed to send to the IRS for this debt

[link to www.irs.gov]
Scuba7

User ID: 16255597
Australia
05/19/2012 07:54 PM
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Re: Camp Fema Debtors Prison?
For what reason will people be put into these camps?
Quoting: Scuba7


A variety of reasons. I think that the majority we expect are going to be the ones falling behind on their lines of credit.


Thread: I am a FEMA camp janitor. Ask me a question. (Page 3)
Do not take memories of what happened yesterday, into what might happen today.

When love is your greatest weakness, you will be the strongest person in the world.
Anonymous Coward (OP)
User ID: 2704006
United States
05/19/2012 07:58 PM
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Re: Camp Fema Debtors Prison?
Heres a link to the form needed to send to the IRS for this debt

[link to www.irs.gov]
 Quoting: Anonymous Coward 2704006


Go down the page and read the instructions. This is scary shit for a lot of people to come
Anonymous Coward (OP)
User ID: 2704006
United States
05/19/2012 08:04 PM
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Re: Camp Fema Debtors Prison?
Not only did they bail the banks out but they then let the banks write it off on taxes and so the bank collected double on the nations wealth and the people who lost their livelihoods have to pay or go to camp fema. Even if the people who defaulted do pay then the bank still took the money of everyone and not just those in debt. Quite an evil plan I would say
Anonymous Coward (OP)
User ID: 2704006
United States
05/19/2012 08:17 PM
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Re: Camp Fema Debtors Prison?
Once this debt is written off you can't include it in a bankruptcy so you owe the IRS. If you walked away from a house the you have to include the entire amount as income short of the mortgage that the bank sold it for.
Anonymous Coward
User ID: 5311782
United States
05/19/2012 08:18 PM
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Re: Camp Fema Debtors Prison?
Well if it is considered as income and you end up having to pay a tax on it, than it should be cleaned off your credit report.
Anonymous Coward (OP)
User ID: 2704006
United States
05/19/2012 08:19 PM
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Re: Camp Fema Debtors Prison?
Well if it is considered as income and you end up having to pay a tax on it, than it should be cleaned off your credit report.
 Quoting: CyBerndt


Nope, it will be reported on your credit as a write off
going to fema camp
User ID: 684982
Czech Republic
05/19/2012 08:28 PM
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Re: Camp Fema Debtors Prison?
OP THIS WAS ON ABC!!!!

YOU ARE RIGHT!!!

[link to abcnews.go.com]




all of you are fu*ked!!


Shin this pit!
PIN THIS
User ID: 684982
Czech Republic
05/19/2012 08:37 PM
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Re: Camp Fema Debtors Prison?
This needs pinned!!

Here is proof all of you US citizens are going to pay for the banksters bullshit!!!


PIN THIS!
Anonymous Coward
User ID: 139684
Canada
05/19/2012 08:49 PM
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Re: Camp Fema Debtors Prison?
LOL You stupid Americans have no balls LOL You deserve your concentration camp
Anonymous Coward
User ID: 684982
Czech Republic
05/19/2012 08:53 PM
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Re: Camp Fema Debtors Prison?
LOL You stupid Americans have no balls LOL You deserve your concentration camp
 Quoting: Anonymous Coward 139684


NO SHIT... THEY CRY ALL THE TIME WHILE BEING RAPED IN THE A$$... PLEASE STAY IN THE US AND DON'T COME HERE, WE DON'T NEED FAG WHINING AMERICANS.

WE MEN HERE TAKE CARE OF BUSINESS AND NO ONE FUC*S AROUND.
Anonymous Coward
User ID: 1243271
United States
05/19/2012 08:55 PM
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Re: Camp Fema Debtors Prison?
A great Civilization is not conquered from without, until it has destroyed itself from within.

Will Durant
Anonymous Coward
User ID: 10222099
Russian Federation
05/19/2012 09:05 PM
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Re: Camp Fema Debtors Prison?
LOL You stupid Americans have no balls LOL You deserve your concentration camp
 Quoting: Anonymous Coward 139684


NO SHIT... THEY CRY ALL THE TIME WHILE BEING RAPED IN THE A$$... PLEASE STAY IN THE US AND DON'T COME HERE, WE DON'T NEED FAG WHINING AMERICANS.

WE MEN HERE TAKE CARE OF BUSINESS AND NO ONE FUC*S AROUND.
 Quoting: Anonymous Coward 684982


Sad for their blind eye and we watch :(
HUGE PENIS
User ID: 684982
Czech Republic
05/19/2012 09:07 PM
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Re: Camp Fema Debtors Prison?
LOL You stupid Americans have no balls LOL You deserve your concentration camp
 Quoting: Anonymous Coward 139684


NO SHIT... THEY CRY ALL THE TIME WHILE BEING RAPED IN THE A$$... PLEASE STAY IN THE US AND DON'T COME HERE, WE DON'T NEED FAG WHINING AMERICANS.

WE MEN HERE TAKE CARE OF BUSINESS AND NO ONE FUC*S AROUND.
 Quoting: Anonymous Coward 684982


Sad for their blind eye and we watch :(
 Quoting: Anonymous Coward 10222099


and they thought the soviet union fell!! lol!! stupid americans with their little penis.

notice none of them are commenting on this? dumb fuc*s, they deserve every bit of what they get.
yourmamaknows

User ID: 11202689
United States
05/19/2012 09:26 PM
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Re: Camp Fema Debtors Prison?
On the form the govt. sends you explaining the cancellation of the debt there is listed it's fair market value.

Look carefully, if it is 0 enter this on your tax forms sent in. You owe nothing.

I have been trained to do taxes. And not at H+R Block.


hf
Anonymous Coward (OP)
User ID: 2704006
United States
05/19/2012 09:31 PM
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Re: Camp Fema Debtors Prison?
On the form the govt. sends you explaining the cancellation of the debt there is listed it's fair market value.

Look carefully, if it is 0 enter this on your tax forms sent in. You owe nothing.

I have been trained to do taxes. And not at H+R Block.


hf
 Quoting: yourmamaknows


I have the letter in front of me that says that my friend owes 600.00 for not claiming a debt that the bank wrote off as income so you might want to brush up on your skills
Anonymous Coward
User ID: 13974494
United States
05/19/2012 09:33 PM
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Re: Camp Fema Debtors Prison?
bsflag
YOU ARE A FAG
User ID: 684982
Czech Republic
05/19/2012 09:34 PM
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Re: Camp Fema Debtors Prison?
NOT BS.. LOOK AT THE LINK OP PROVIDED THAT SHOWS THE FORM THE DEBTOR FILLS OUT AGAINST YOU ..... YOU STUPID FLAG FLYING FAG FROM THE US.
POSTMAN
User ID: 684982
Czech Republic
05/19/2012 09:35 PM
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Re: Camp Fema Debtors Prison?
bsflag
 Quoting: Anonymous Coward 13974494


YOURS WILL BE MAILED MONDAY FAGGOT
yourmamaknows

User ID: 11202689
United States
05/19/2012 09:42 PM
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Re: Camp Fema Debtors Prison?
On the form the govt. sends you explaining the cancellation of the debt there is listed it's fair market value.

Look carefully, if it is 0 enter this on your tax forms sent in. You owe nothing.

I have been trained to do taxes. And not at H+R Block.


hf
 Quoting: yourmamaknows


I have the letter in front of me that says that my friend owes 600.00 for not claiming a debt that the bank wrote off as income so you might want to brush up on your skills
 Quoting: Anonymous Coward 2704006




I did one of these forms just two years ago. Check the person's 1099-R

If he failed to file it on his most recent return, file an amended return.

I am one of the top tax people in the American Southwest.

Wish I could mention my educational background.


hf
Anonymous Coward
User ID: 16343938
United States
05/19/2012 09:44 PM
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Re: Camp Fema Debtors Prison?
LOL You stupid Americans have no balls LOL You deserve your concentration camp
 Quoting: Anonymous Coward 139684


NO SHIT... THEY CRY ALL THE TIME WHILE BEING RAPED IN THE A$$... PLEASE STAY IN THE US AND DON'T COME HERE, WE DON'T NEED FAG WHINING AMERICANS.

WE MEN HERE TAKE CARE OF BUSINESS AND NO ONE FUC*S AROUND.
 Quoting: Anonymous Coward 684982


go fuc* yourself, no wait... putin will do that to you nicely over the next few years. let's see you men take care of business then.
Anonymous Coward (OP)
User ID: 2704006
United States
05/19/2012 09:48 PM
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Re: Camp Fema Debtors Prison?
On the form the govt. sends you explaining the cancellation of the debt there is listed it's fair market value.

Look carefully, if it is 0 enter this on your tax forms sent in. You owe nothing.

I have been trained to do taxes. And not at H+R Block.


hf
 Quoting: yourmamaknows


I have the letter in front of me that says that my friend owes 600.00 for not claiming a debt that the bank wrote off as income so you might want to brush up on your skills
 Quoting: Anonymous Coward 2704006




I did one of these forms just two years ago. Check the person's 1099-R

If he failed to file it on his most recent return, file an amended return.

I am one of the top tax people in the American Southwest.

Wish I could mention my educational background.


hf
 Quoting: yourmamaknows


It says on the letter "Do not file an amended return and I will gladly send anybody that can post pictures here a picture of the letter to their email. The most important part of the thread is that the debt is from the 1990's and my friend received nothing about it.
I LOVE PUTIN
User ID: 684982
Czech Republic
05/19/2012 09:49 PM
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Re: Camp Fema Debtors Prison?
LOL You stupid Americans have no balls LOL You deserve your concentration camp
 Quoting: Anonymous Coward 139684


NO SHIT... THEY CRY ALL THE TIME WHILE BEING RAPED IN THE A$$... PLEASE STAY IN THE US AND DON'T COME HERE, WE DON'T NEED FAG WHINING AMERICANS.

WE MEN HERE TAKE CARE OF BUSINESS AND NO ONE FUC*S AROUND.
 Quoting: Anonymous Coward 684982


go fuc* yourself, no wait... putin will do that to you nicely over the next few years. let's see you men take care of business then.
 Quoting: Anonymous Coward 16343938


DON'T YOU KNOW THAT THE SHIT YOU HEAR ABOUT THE OFFICIALS HERE ARE ARE BULLSHIT? YOU AMERICANS ONLY HEAR "PROPOGANDA".

WE LIVE A BEAUTIFUL LIFE HERE, BELIEVE YOUR NEWS STATIONS YOU STUPID FAG.
Anonymous Coward
User ID: 16094023
United States
05/19/2012 09:57 PM
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Re: Camp Fema Debtors Prison?
Whatever debt is forgiven is reported to the IRS and is classified as income, so you are liable for the taxes on that money.

There is some grace though.

If at the time of the discharge you are upside down, IE total net worth is less than what you owe including your house, mortgage or whatever you are relieved from paying taxes on the $ forgiven, but it is tied to your property somehow and I dont fully understand that part.

IE if the debt is forgiven and you are exempt from paying taxes on that now, and you sell your house in the future the sales amount is increased by the amount of the dept previously forgiven so you will get hit with a tax at that time if you have any equity.

I think there is a time period involved, but not sure what it is.
Anonymous Coward (OP)
User ID: 2704006
United States
05/19/2012 10:04 PM
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Re: Camp Fema Debtors Prison?
Whatever debt is forgiven is reported to the IRS and is classified as income, so you are liable for the taxes on that money.

There is some grace though.

If at the time of the discharge you are upside down, IE total net worth is less than what you owe including your house, mortgage or whatever you are relieved from paying taxes on the $ forgiven, but it is tied to your property somehow and I dont fully understand that part.

IE if the debt is forgiven and you are exempt from paying taxes on that now, and you sell your house in the future the sales amount is increased by the amount of the dept previously forgiven so you will get hit with a tax at that time if you have any equity.

I think there is a time period involved, but not sure what it is.
 Quoting: Anonymous Coward 16094023


This is a credit card debt from the late 1990's and the letter states pay it by June 13th or penalties start accruing. There was no warning or forehand knowledge whats so ever. Mark my words, this is coming to a shit load of people soon. I just googled it and saw article after article from people getting these letters and they don't even remember the debt.
Anonymous Coward
User ID: 3064678
Canada
05/19/2012 10:04 PM
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Re: Camp Fema Debtors Prison?
They printed it out of thin air and it has no value we will not be held accountable for THEIR fraudulent money system. So just try and collect, you cheating, thieving, lying sonsabitches we dare ya.

Oh and go fuck yourselves while yer at it, ya piece of shit, no good Talmud hook nose jewish shyster cock sucking Pharisees.

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