Financial Update

Last week I received an interesting e-mail from a reader. Turns out the IRS has filed yet another tax lien against the McKinneys, this time for their 2008 and 2009 taxes, and in the amount of $35,763.19. This latest lien was filed on July 15th of this year, shortly before MckMama jetted off to Africa again, ostensibly at her own (well, the taxpayers’) expense.

Here is the rundown, to update previous posts:

  • Tax Lien # 1, for 2006 – 2007 taxes, filed on 5/01/2009: $52,207.33 due

  • Judgment, unpaid business expense, filed 1/20/2011: $5,609.27 due
    (See that ‘W’ in red? A warrant was issued yesterday, most likely for failure to appear.)

  • Judgment, Escalade repossession, filed on 2/28/2011: $27,114.73 due

  • Tax Lien # 2, for 2008 – 2009 taxes, filed on 7/15/2011, $35,763.19 due

This latest lien by the IRS seems to indicate that the McKinneys aren’t even on a payment plan–or haven’t complied with it–to reduce this debt, and have certainly not paid it off as MckMama claimed in this MWoP post from April.

That’s a lot of debt for one family. The IRS documents indicate that it’s a small business or self-employed income tax return. If you own your own business you should be filing taxes quarterly to avoid a huge tax liability the next April, but it appears that was not being done at all, or the calculations were just a tad off. Bummer.

No wonder they had to run away move.

And not just move but move out on September 9, exactly two years after they purchased the Becker property in a Contract for Deed arrangement (also known as not a mortgage). CFDs are typically two years in length before they must be paid off with traditional financing or, in this case, be cancelled; then the property remains with the owner (also known as not the McKinneys). Otherwise the financing would be obtained and the property would be transferred to the contracted party, the new owners. Clearly that is not happening in this case and the McKinneys have been removed as the taxpayers of record, another indication that they do not own the property–no matter what MckMama claims.

What a mess.

OT Edit: Please realize that using the no-clicks links provided only works if you also stay off BlogFrog. MckMama has a business relationship with this company and is compensated for the traffic to her BlogFrog community. Please stop adding to that.

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