Tax Guru-Ker$tetter Letter
Friday, August 20, 2004
Brown In Jail - I have to admit that I'm surprised how quickly this case was wrapped up. With all of the legal maneuvers possible, it was looking like this case could take years before Dian Brown received any punishment for stealing money through her Harrison Abstract business.
We're hoping this puts an end to comments Sherry has received from local Realtors and investors who complain about the fees she charges for 1031 exchanges with "Dian Brown charged a lot less." Having seen some of the incompetent exchange paperwork prepared by Dian Brown and her Harrison Abstract staff, it's obvious that her legal headaches are far from over. Any of her exchange clients who are examined by IRS will have excellent grounds for legal action to recoup their additional taxes, penalties and interest charges when their exchanges are disallowed. Somehow, the old "you get what you pay for" standard fits so well here. Saving a few hundred dollars by using an incompetent exchange service can very easily cost hundreds of thousands down the road when IRS catches up.
Labels: 1031