Tuesday, November 08, 2005

My friend, Mr. Taxman

One of the companies we are financing found themselves in a little bit of a pickle, well ok a lot of a pickle (Can you have a lot of a pickle, yes, yes you can) with the tax department.

We had promised our tax friend that we would be making a payment (mid to low 5 figures) on our client's behalf. When we delivered the money to him, he said he was surprised. He didn't think that he would ever see a dollar from us.

We then managed to get our client's monthly payments shaved down by a few thousand dollars a month. This was good.

We were then told that client was still delinquent in their payment plan. This was bad.

We then asked our tax friend for an account statement. He said it would take 4 to 5 weeks. This was, well a little bizarre given the fact that I believe the government stopped using an abacus to calculate taxes at least five years ago.

Next up for these characters, the tax fairness committee, to get some of our, I mean our client's money back.

Tomorrow, finish up an other deal (god willing).

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