Minnesota Real Estate Investor Faces IRS Nightmare After Nearly Decade Of Unfiled Taxes Despite Owning 27 Rental Properties

Benzinga_recent_news12-11

A Minnesota real estate investor is confronting a potential financial crisis after failing to file federal taxes for nearly 10 years, despite owning dozens of rental properties. On Wednesday, caller ...

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Most of that income is in cash and you’ve spent it.\"\nKamel warned him of the stakes. \"The last people you want on your back is the IRS. They can destroy your life. I know that's right. And so I would not ignore this any longer,\" he said. \nHe also advised Claude to hire a CPA or enrolled agent immediately to assess his tax liability and explore payment plans. \nCo-host Jade Warshaw added, \"You got to do this with integrity, my guy.\"\nSee Also: Gavin Newsom Slams Trump For Increasing Tariffs On Canada By 10%: ‘He Is Punishing The American People With Higher Costs'\nCallers to Dave Ramsey's show faced contrasting financial challenges but a common theme: taxes. \nTyler, a Florida moving company owner, reported $1.9 million in revenue and rising profits. \nRamsey advised him to avoid unnecessary purchases for write-offs, focus on paying personal debt, and consult an accountant on depreciation strategies.\nIn a separate call, a single father earning $80,000 admitted he hadn't filed taxes in three years. \nRamsey stressed the legal risk, urging immediate action to file, and estimated the man could owe around $60,000 plus penalties. \nHe emphasized that failure to file, not failure to pay, carries potential criminal consequences.\nBoth cases underscore the importance of tax compliance, careful financial planning, and professional guidance to protect income and avoid serious penalties.\nRead Next:\nDisclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.\nPhoto courtesy: Shutterstock/ II.studio","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2590595474","isCrawlerRequest":true}