Thursday, June 14, 2007

Tax liens and lawsuits

We have an update on the tax liens and lawsuits from the Bakersfield Californian:

The Internal Revenue Service slapped him and his wife, Jennifer Crisp, with a $111,170 lien in back taxes and penalties, according to public records.

"When you have a big business, there's always things, sometimes,
that falls through the cracks," Crisp said Wednesday. "And when you notice it,
you take care of it. That's it."

The back taxes stem from 2005, when the local real estate market experienced a frenzy of home sales and price appreciation.

Why he owes so much money to the IRS is unclear, Crisp said.

In late May, Commercial Trade Bureau, a debt collection agency, filed a breach of contract lawsuit against David Crisp and Crisp Cole & Associates, the business Crisp started with real estate agent Carl Cole, according to court records.

The company is suing on behalf of KBAK-TV 29 for $15,800 in services rendered, records show.

Crisp said that he also owes money to The Californian, and that he assumes his debts may have motivated the newspaper to run stories about his finances.


Adam said...

I loved the part in the article where he tried to brush this off with the suggestion that with a HUGE organization like his, it's expected that some pesky little details will fall thru the cracks.

SAY WHAT? Failing to pay Federal taxes in 2005 is a HUGE crack!!

Ya' think it's plausible he simply missed those letters and notices from the IRS? I'm assuming when there's an issue of back taxes, the IRS doesn't start out by filing tax liens against one's properties, but send notices to the taxpayer to give them a chance to pay off what's owed first? I'd imagine some deadlines had to be missed to get to this point of having tax liens filed....

Just what Bakes needs: a real estate clerk who cannot manage his OWN finances, or those of his family!

I'm so glad the NAR is running those T.V. ads, reminding the public that realtors adhere to a code of ethics and professional conduct. How comforting.

In most professional organizations, even the appearance of financial impropriety is sufficient reason to rebuke and expel a member: not sure what the CAR expects of IT'S members.

You'd think that even as a baseline, State-licensed members of a profession would have standards of conduct encoded into law. Guess not?

FWIW, one of the lead stories on KBAK channel 29 (CBS) news this morning was a video report of the IRS tax lien, with no mention of the fact he owned the company for services. Can we assume the 'services' rendered were to run the Crisp & Cole T.V. ads, showing them posing as big real estate magnates, standing in front of the leased jet and cars?

Apparently C & C didn't even pay for all of the T.V. ads that brought them up on the radar. If so, what irony.

Bakersfield Bubble said...

"with a HUGE organization like his, it's expected that some pesky little details will fall thru the cracks."

LMFAO. That was too funny.

How big is that crack? Big enough for defaults, lawsuits and Federal tax liens.

Bakersfield Bubble said...

Also too funny is the Donald Trump comment. FLIPPING HOMES IN A HOT MARKET does not make you a mogul. Right place at the right time. That it!

Also, this slowdown is only in the first few innings, only the weakest of hands have folded to date!

He has NEVER developed anything, this guys suffers from delusions of grandeur.

Perfect Storm said...

This guy owes money all over town. Most people in this situiation are labled dead beats. Pay your bills you loser.

Perfect Storm said...

Pay your IRS bill you loser, we have troops in Iraq who don't have sufficient gear and you go around not paying your taxes. Pay your taxes or get the hell out of the Country.

Adam said...

Here's an account of an IRS/FBI raid, conducted recently in Sacramento on offices of mortgage brokers and real estate clerks who apparently were running a "bag holder" scam involving $9 million in real estate holdings.

Be sure to take a look at the PDF of the affadavit for the search warrant:

Stick up for the little guy said...

KBAK is not the only advertising that Jet Boy and Daddy Carl haven't paid for. Check with all of the local Real Estate Magazines and the Californian.
They have been kicked out of every one of them for lack of payment.
They have hurt a lot of Bakersfield people and have really given the Real Estate Industry a bad name. i.e. Alleged fraudulant loand, stated income, owner occupied purchases etc. I hope Bubba and his friends give them what they deserve when they go to jail. A royal painful screwing like they did to many local Bakersfield people and companies!