Foreclosure, Fraud, Internal Revenue forms 1099-A's and 1099-C's By Barbara A.Jackson

Using my name and social security number, Wells Fargo filed a
falsified form 1099-A  --and it could happened to anyone who had or has
a mortgage loan.  Inaccurate or false information on an Internal
Revenue form 1099-A is significant.  The salient problem about an
untrue form1099-A, or 1099-C, is that either forms could cause
extensive and NEEDLESS tax consequences for TAX FILERS -especially, if
the tax filer is oblivious that a1099-A has been reported!

Lenders and creditors probably receive undeserved tax write-offs and
have distorted Securities Accounting as a result of untrue 1099's.
Also, particularly when real estate is being illegally, fraudulently
FLIPPED; and when Investors are being deceived; when foreclosures
occur via frauds, after evidence of Wells Fargo filing FALSIFIED
1099's surfaces, THERE IS CAUSE FOR SWEEPING PROBES INTO the 1099's
that Wells Fargo files with the IRS!  In fact, such an investigation
is probably warranted nationwide in communities which Wells Fargo does
business and reports tax information on 1099-A's and 1099'C's.

I am Katrina-displaced from New Orleans.  In LOUISIANA, Wells Fargo is
among certain  mortgage companies involved in REAL ESTATE and MORTGAGE
FRAUD schemes.  Because scores of people were displaced by the
hurricanes of 2005, companies like Wells Fargo have much greater
capacities to expand its various frauds and deceptive practices.
Emphatically, the fact that thousands of people become displaced via
disaster, the conceivability for Wells Fargo (and any other companies)
to file false 1099-A's or 1099-C's is vast and very easy to carry off.

This past February of 2008, I learned from the IRS that in year 2006,
WELLS FARGO filed a 1099-A for my former New Orleans property.  (Wells
never gave me a copy of that 1099-A.)   The year 2005 tax transcript I
obtained from the IRS shows that Wells Fargo filed an "acquisition" /
"abandonment" form 1099-A, wherein Wells Fargo represents May 19, 2005
as the date of my home being "abandoned" / "acquired" by Wells Fargo.

To the contrary, ON MAY 19, 2005, allegedly ON BEHALF OF GE Capital
Mortgage Services, Inc., a debt collector foreclosed and made his own
auction bid in an amount of $120,000.00. THE DEED to my home was
recorded IN THE NAME of GE Capital Mortgage Services, Inc.  Thus,
clearly Wells Fargo DID NOT acquire my property as Wells Fargo
reported to the IRS; and at the least, a 1099-A would appear more
logical if filed by GE Capital Mortgage Services.  Also, Wells Fargo?s
1099-A reported $12,000.00 as the Fair Market Value for my property.
However, IRS publication 544 states that the FMV is deemed by the
auction bid price -$120,000.00.  Another notably fraudulent thing
about Wells Fargo's 1099-A, is its FALSE representation of my owing to
Wells Fargo $86,149.00!  There's more I could point out, but the fact
of the matter is that I filed a form 3949-A to rebut the 1099-A that
was filed by Wells Fargo.

Also, it is worth investigating and comparing how many properties
Wells Fargo under-reported the Fair Market Value to IRS, and what
benefit(s) did Wells Fargo derive from those lower fair market values
-which, as in my case, the FMV that Wells Fargo reported was
absolutely and verifiably false.  (There is MORE to this particular
real estate fraud scheme -including a July 2005 report of Freddie Mac
paying $86,150.00 to GE Capital Mortgage Services, Inc., for my
property; Freddie Mac's purchase was printed in the August 2005 local
newspaper real estate transfers section.  Thus, even Freddie Mac?s
payment refutes the FMV reported on the 1099-A filed by Wells Fargo.
Another twist to this saga is the fact that GE Capital Mortgage
Services became DEFUNCT on October 25, 2002!  See the Louisiana
Secretary of State website, Corporations Division.)
_______________________
Barbara Ann Jackson
Law & Grace, Inc.
www.lawgrace.org