Hi, could you please clarify, shouldn't we file the form 8281 with the form 1099-OID when we are doing the process. I am trying to soak up as much info as much I can, and Jean Keating who is also talking about these processes, - and seems pretty highly qualified as a banking, and tax lawyer,- states that if we are not filing it is a mistake. Would you mind to give your opinion on that pls?
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We have not studied Jean Keating's approach so we wouldn't be able to compare. The key is not to mix strategies without knowing what you are doing unless a step can be added independently to another method without creating an issue. I believe Jean Keating is reliable. If you do his method then you would want to do it all the way through. Feel free to send us his materials via contact us link above for review.
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Hi Admin, I am in the process of collecting his material, sadly lots of walls to hit. Family isn't helpful. I will send it to you when originals are in my possession. One thing is for sure he was very well versed in the law, and always stated: if you file a 1099OID you must, it is not an option, a must to file an 8281 also. I did read the forms instructions and it is also stating the same. Without it they cannot ID who is the filer, whatever other people think, and they ignore processing for formal issue. Please open a library people could upload materials concerning this. Some of them large. God Bless for your work.
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what is your contact with the Keating family. I am highly interested in his research in banking, taxes, insurance, uniform commercial codes ect...... I can be reached at jwmills3@gmail.com. אמן ביהושע המשיח
Miatyank, Go to the IRS website and read Form 1212. Keating is correct. The IRS for 1212 clearly states that a 8281 MUST be filed along with a 1099-OID. This form will justify and protect you and puts the bank or mortgage in the cross hairs of the IRS. All money leaves a trail and the IRS are great at it. This is how you get your lost assets back. I tried explaining this all for a couple of weeks but some folks don't want to listen. But when they are filing OID's without a 8281 attached, they may find themselves in handcuffs. So be sure to read form 1212. Its pretty long but Keating reads a lot of it on a Youtube video and he is pretty entertaining. Great Post