I was incarcerated for 8 months, on an IRS conviction, based on the Stated Income mortgage application, on which I was required to agree to that my CPA annual income was that of the national average, as indicated on the Salaries.com web-site. This was the basis n which Countrywide Credit, Washington Mutual, etc became very wealthy and, even though this strategy was supported by the national credit bureaus, the house appraisers, and the mortgage warehousing agents, Freddymac and FannyMae. But, as I was told by my Federal Defense Attorney
, the best way out was a deal, whereas, if I decided on a jury trial
I would probably receive 2 1/2 years incarceration. Now, in addition, the IRS sued me for not having reported $500,000 additional income in 2006. Subsequently, they issued me a formal letter (after 6 months incarceration, taht they accepted by return as filed.
I believe the entire IRS activity was politically motivated and hidden b the fact that there was limited or no documentation required by mortgage lenders for over 16 years (a sub-prime borrower, for which 10 million borrowers lost their homes). Ques. Was I to blamed for this. I borrowed money to build one small house in Salem Oregon based on the Stated Income concept. I would like to sue that department, the IRS and the manager of the division. What are the possibilities?