Tax Related

How Do I Pay My Property Taxes Using Accepted for Value?

Written by Steve Rhode

Question:

Dear Steve,

I herd you on a youtube recording. I am not a US citizen, I have filed a ucc1 I need to file my secure agreement and schedule A.

I live in Florida. but I have a house in Ohio. House is paid for there is no mortgage. which I rent out. but they are having trouble paying and I don’t work so I’m beyond broke.

The county of Pickaway county is taking me to court for back property taxes. I am trying to do an acceptance for value on the taxes. I’m not sure if you can help or how I will pay for it so any advice will help.

I rent to my niece, who has a sick child. but I tolerate her in the house because it’s next to a trailer court full of questionable residents. aka she guards the house

I need help with property taxes.

I live in Florida. The property (house) is in Ohio Pickaway county.

Margaret

Answer:

Dear Margaret,

I’m not sure what YouTube video you heard of mine but I think you got the wrong guy because the Accepted for Value approach is nonsensical.

If you are going to be a landlord then you either need to do it without expectation of getting paid or run it like a business.

If your tenant doesn’t pay, you need to give them a chance to bring their account current or evict them.

So if you made the decision to not evict your tenant, even though they are family, then you assume the responsibility for making sure the property is kept in good order and taxes and insurance are paid.

The is a very good chance you will lose the property in a back tax sale. The smarter move here would be for you to sell the property as soon as possible to avoid losing your valuable asset in a tax sale.

I would suggest you talk to a few local real estate agents who can fire sale the property and get a quick close before the tax sale.

READ  How Can I Best Avoid Paying Taxes Using the Accepted for Value Process? - Steve

The accepted for value approach is total crap in my opinion. It’s one of those things that might seem clever but it is not a standard or accepted practice.

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If you decided to try that approach instead of paying your taxes due, you will lose the property.

Don’t waste time and energy.

Here are some examples:

Ohio Couple Sentenced For Attempting To Defraud Creditors And Fraudulently Obtaining Tax Refund Money – “According to court documents, between July 2009 and August 2010, Richnafsky and Spikes conspired to evade their debts by mailing fraudulent documents, through the U.S. Mail, to their creditors. These documents included letters disguised as official documents, fraudulent promissory notes, and other documents directing creditors to collect funds from fictitious “treasury accounts.” The documents also included bills and account statements which were stamped or handwritten with statements such as “accepted for value and returned for value,” and IRS Forms that were fraudulently presented as forms of payment. When creditors refused to accept these documents in satisfaction of Richnafsky’s and Spikes’s debts, Richnafsky and Spikes would attempt to file personal liens against the employees, executives, and attorneys of the creditors.” – Source

Jury Convicts Peculiar Man of Tax Evasion – “Stanley submitted fake money orders for payment to the Internal Revenue Service, returned documents to the Internal Revenue Service claiming that the tax assessments were satisfied because they were “Accepted for Value,” filled out payment vouchers with his name in all capital letters but didn’t submit payment and submitted a false criminal referral to IRS – Criminal Investigation.” – Source, Source

Here is a case where the government position was that some people think “Taxpayers can “satisfy” a debt, including a tax debt, by stamping a document related to that debt with the words “accepted for value” or similar frivolous or nonsensical language.” The Defendant lost.

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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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