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Mr. Wells[1] on behalf of Industrial Investors Inc
is requesting a collection due process hearing for
Filed Notice of Federal Tax Lien and Notice of
Levy/Seizure. The Notice of Federal Tax Liens
previously filed in 1998. Therefore, no CDP hearing on
the recorded Notices of Federal Tax Liens should be
considered. As for the Notice of Intent to Levy, this
should proceed accordingly.
Since Mr. William G. Wells has had numerous
opportunities to sell, refinance or secure a second
mortgage on all real property owned by Industrial
Investors Inc and has not done so to this date, it is
time that the government secure any and all interest
for all assets owned by the Corporation to pay the
outstanding tax debts.
* * *
Mr. William G. Wells intends to file an Offer-in-
Compromise for his individual tax debts and those of
this entity. However, he has been made aware that no
offer is feasible unless all the entities he is
associated with are in compliance with filing and
paying tax debts. Many of the entities are not in
compliance with filing and paying requirements just
like Industrial Investors Inc. Therefore, an Offer-in-
Compromise will not be contemplated unless Mr. William
G. Wells cooperates in providing all the entities
financial statements, tax returns and pays all the
debts or attempts to resolve all compliance issues.
Since Mr. Wells has delayed many of his tax issues
via Tax Court, 9th Court of Appeals requests,
Collection Due Process Hearing Requests etc., It is
recommended that no further delays be granted and that
the Internal Revenue Service be authorized to collect
the taxes due from Industrial Investors Inc from any
and all of the assets which are found to have equity to
pay toward its tax debts. He also signed and agreed to
the assessments via the Tax Court recorded date
February 17, 1997.
1 William G. Wells is one of Industrial’s shareholders, as
well as its secretary, treasurer, and attorney in this case.
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Last modified: November 10, 2007