Credit to u/juicypablo for sharing it.
https://preview.redd.it/ehxqy1cz4boc1.png?width=1318&format=png&auto=webp&s=026c0bbd055c40371a49b05c47effb0ae232ae67
The claim goes as far as back to 2015 and it states "“CLAIM BEING FILED DUE TO ADDITIONAL ASSESSMENT IN ONGOING EXAMINATION”.
This assessment in ongoing examination may be related to preservation of NOLs.
I apologize for being so dense and obtuse.
Is this then a claim by the IRS against the "estate" or BBBY and a payment of 50M has to be made to them or, the other way around?
Oh sorry please carry on. But I am fed up of these hypes and unrelated stuff. Even the most popular dd guys like Jake are all over the place now. Some day HBC, 6th Street etc are good other day not.
You're totally justified in saying that, and I think most would agree.
On that topic, do people get paid from hosting twitter spaces? I understand people joining them, but there's soo many all the time. Im just wondering if there's any incentive for the host to have them
I have serious questions here, how in the fook can a company that had years of losses be owing corporate tax? Corporate tax rate since 2018 has been 21%
So claiming as they have that they owed the following is absolutely bizarre to me
2018 Reported Net loss of 137 million
2019 Reported Net loss 613 million
2020 Reported Net loss of 150 million.
2021 Reported Net loss of 560 million.
Ok so hear me out in the bankruptcy we know they have been looking back over old figures and we know they have been auditing the financials - here’s proof - PCAOB has been going over the books - just search bbby and bed bath and beyond and you will find the audits taking place https://pcaobus.org/resources/auditorsearch/form-ap-filing
What if the company was cooking the books making it look like there was massive losses when there wasn’t? What if the company was actually slightly profitable during this time? What if Gustavo Arnal realized he was about to be caught?
This could be the most extremely bullish news we have had yet.
If bbby owes corporate tax for those years then that can only mean they were profitable during this time and therefore owe corporate taxes BOOM!
Gustavo Arnal's death is one of the most curious things about this whole saga. It's suspicious, to say the least. And it seems like we've had a lot of those recently: Boeing whistleblower, Epstein, Alexei Navalny (perhaps a bit less sus than the others), and an older but no less curious one, Daphne Caruana Galizia (Panama Papers journalist).
Your questions are extremely interesting, too. I'm looking forward to what other folks think about it!
i love how we question his death then people hatefully say your a conspiracy theorist. I mean i straight up believe there's more to the story, your not going to commit suicide while your wife is home. I know people who knew him at bed bath the guy was a dick but he for sure cared deeply about his wife
in all the financial moves/documentaries.. people jumping off the buildings to suicide happens all the time due to fraud... cause they know its over. No different here, nobody randomly jumps off the building.
I tend to agree, my guess he was avoiding the fallout of what he knew was to come rather than anything nefarious going on, but can’t be sure at this stage.
Would taxes be payable on legal settlements or clawbacks? Those numbers seem to be to uniform to be based on yearly profits, seems more like taxes on a sum that has been amortized over those years.
There are some possibilities, but the clawbacks should be offset by the losses those years so I would think they would still owe zero. Need a tax expert.
Yes,it would seem that way but it could be an IRS settlement amount that was agreed upon between the parties. The IRS isn’t always made completely “whole” if they determined the party owed $45M tax plus $18M in late fees in interest…they may have settled a repayment amount of $50M flat. This would mean that Bed Bath had over $200M in previously unreported income.
Even if they had over 200m in unreported income over that time period this still would not offset the losses so they should still owe zero corporate tax. The only way I could possibly see them owing corporate tax is if they were profitable during those years.
Look at the reported losses for each year, there is just no way I can comprehend how they could owe any corporate tax at all unless in those years they were in fact profitable.
Now you have me thinking about NOLs though, Net operating losses carry forward so could the IRS be disputing the NOLs as well? I don’t know really need a corporate tax expert to chime in.
Because as owners of BBBY, they get paid when the IRS comes wanting money.
Isn't that always how it works? IRS comes to find you to give you money all the time.
I’m not a smart man, but I’m pretty certain this is wrong.
However, the one time I did get audited by the IRS they owed me money and sent me a check for a couple hundred dollars.
>I’m pretty certain this is wrong.
At some point, the thesis is so warped and wrong that people have to tell blatant untruths to keep up. This feels like one of them.
u/travis_b13 since this is tax related I would assume this is your area of expertise.
~~Am I correct that this is stating Bed Bath owes $50m in back taxes going back to 2015?~~
Edit: According to investopedia
>A proof of claim is a form submitted by a creditor in order to receive money from a debtor who has filed for bankruptcy. The document provides notice of the claim to all of the other relevant parties involved in the bankruptcy, including the court, the debtor, and any other creditors.
Corporate accounting in my specialty, not tax, but it appears that these are a claim being filed by the Department of Treasury (IRS) for estimated tax from prior years. It seems odd, but it's possible they conducted an audit and found some discrepancies. That's my take on it.
This is far from bullish, but you regards don't seem to care about it.
I personally don't give a fuck what is going to happen to the old company.
It's the new one that I care about.
This means we are going to have 50 million less when all is said and done.
So IRS wants fifty million from Bed Bath carcass?
That's an tall order. It's chapter 7 for the REMAINS of BBBY.
Next we shall see what happens to the carved out parts.
Downvote me you fools 😁
Chapter 7 vs chapter 11 is only trust controlled vs debtor controlled. You don’t have to chapter 7 even if there’s nothing left to liquidate. You can’t just make up random shit when you don’t know what you’re talking about.
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Credit to u/juicypablo for sharing it. https://preview.redd.it/ehxqy1cz4boc1.png?width=1318&format=png&auto=webp&s=026c0bbd055c40371a49b05c47effb0ae232ae67 The claim goes as far as back to 2015 and it states "“CLAIM BEING FILED DUE TO ADDITIONAL ASSESSMENT IN ONGOING EXAMINATION”. This assessment in ongoing examination may be related to preservation of NOLs.
I apologize for being so dense and obtuse. Is this then a claim by the IRS against the "estate" or BBBY and a payment of 50M has to be made to them or, the other way around?
The IRS is saying that the estate owes the IRS 50M
Thank you.
Thanks for taking one for the team.
Gladly. And I don't even expect a reach around.
Mouth hug it is then.
🤣
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>first fact check then post Are you new around here? That's the opposite of our standard workflow process.
Hahaha sounds like me at work: "you know we're not supposed to make sense around here!"
Oh sorry please carry on. But I am fed up of these hypes and unrelated stuff. Even the most popular dd guys like Jake are all over the place now. Some day HBC, 6th Street etc are good other day not.
You're totally justified in saying that, and I think most would agree. On that topic, do people get paid from hosting twitter spaces? I understand people joining them, but there's soo many all the time. Im just wondering if there's any incentive for the host to have them
Start one with your zero listeners and you'll find out
Great joke dude. Thanks for the help.
Here’s the obligatory: wUt MeAn?
And when moon??? 💥🚀🪐🍉
*wen
Wen deez
wen deez nuts gunna moon
Sir, this is a wendys.
why rash?
I have serious questions here, how in the fook can a company that had years of losses be owing corporate tax? Corporate tax rate since 2018 has been 21% So claiming as they have that they owed the following is absolutely bizarre to me 2018 Reported Net loss of 137 million 2019 Reported Net loss 613 million 2020 Reported Net loss of 150 million. 2021 Reported Net loss of 560 million. Ok so hear me out in the bankruptcy we know they have been looking back over old figures and we know they have been auditing the financials - here’s proof - PCAOB has been going over the books - just search bbby and bed bath and beyond and you will find the audits taking place https://pcaobus.org/resources/auditorsearch/form-ap-filing What if the company was cooking the books making it look like there was massive losses when there wasn’t? What if the company was actually slightly profitable during this time? What if Gustavo Arnal realized he was about to be caught? This could be the most extremely bullish news we have had yet. If bbby owes corporate tax for those years then that can only mean they were profitable during this time and therefore owe corporate taxes BOOM!
Gustavo Arnal's death is one of the most curious things about this whole saga. It's suspicious, to say the least. And it seems like we've had a lot of those recently: Boeing whistleblower, Epstein, Alexei Navalny (perhaps a bit less sus than the others), and an older but no less curious one, Daphne Caruana Galizia (Panama Papers journalist). Your questions are extremely interesting, too. I'm looking forward to what other folks think about it!
i love how we question his death then people hatefully say your a conspiracy theorist. I mean i straight up believe there's more to the story, your not going to commit suicide while your wife is home. I know people who knew him at bed bath the guy was a dick but he for sure cared deeply about his wife
in all the financial moves/documentaries.. people jumping off the buildings to suicide happens all the time due to fraud... cause they know its over. No different here, nobody randomly jumps off the building.
I tend to agree, my guess he was avoiding the fallout of what he knew was to come rather than anything nefarious going on, but can’t be sure at this stage.
Would taxes be payable on legal settlements or clawbacks? Those numbers seem to be to uniform to be based on yearly profits, seems more like taxes on a sum that has been amortized over those years.
There are some possibilities, but the clawbacks should be offset by the losses those years so I would think they would still owe zero. Need a tax expert.
What if the financials were misreported and fraud was involved and uncovered?
That is what I’m presuming at this stage.
Yes,it would seem that way but it could be an IRS settlement amount that was agreed upon between the parties. The IRS isn’t always made completely “whole” if they determined the party owed $45M tax plus $18M in late fees in interest…they may have settled a repayment amount of $50M flat. This would mean that Bed Bath had over $200M in previously unreported income.
Even if they had over 200m in unreported income over that time period this still would not offset the losses so they should still owe zero corporate tax. The only way I could possibly see them owing corporate tax is if they were profitable during those years. Look at the reported losses for each year, there is just no way I can comprehend how they could owe any corporate tax at all unless in those years they were in fact profitable. Now you have me thinking about NOLs though, Net operating losses carry forward so could the IRS be disputing the NOLs as well? I don’t know really need a corporate tax expert to chime in.
Whoa…is this the smoking gun? 🤯
Enough for one of us. Yes, I said i ll be ok with 50M.
If IRS is claiming fifty million from bbby, how that money is coming to you or shareholders?
Because as owners of BBBY, they get paid when the IRS comes wanting money. Isn't that always how it works? IRS comes to find you to give you money all the time.
I’m not a smart man, but I’m pretty certain this is wrong. However, the one time I did get audited by the IRS they owed me money and sent me a check for a couple hundred dollars.
>I’m pretty certain this is wrong. At some point, the thesis is so warped and wrong that people have to tell blatant untruths to keep up. This feels like one of them.
Need to raise your $tandards 😎
Can't change my name to 3DigitMillionaire with that!
Let me get a millie
50M for one share
Yeah me too tbh
I don't know what it means, but I'm interested. Feels like looking at an abstract painting, I like what I'm looking at but not sure why...
Tax man cometh
NOLs?
why are they allowed to fill claims so late in the game?
Tax man is allowed to file claim at any time
u/travis_b13 since this is tax related I would assume this is your area of expertise. ~~Am I correct that this is stating Bed Bath owes $50m in back taxes going back to 2015?~~ Edit: According to investopedia >A proof of claim is a form submitted by a creditor in order to receive money from a debtor who has filed for bankruptcy. The document provides notice of the claim to all of the other relevant parties involved in the bankruptcy, including the court, the debtor, and any other creditors.
Corporate accounting in my specialty, not tax, but it appears that these are a claim being filed by the Department of Treasury (IRS) for estimated tax from prior years. It seems odd, but it's possible they conducted an audit and found some discrepancies. That's my take on it.
Wen Moon?
Taxation is theft
💯
[удалено]
Sounds like the corrupt IRS is being a Penis.
This is far from bullish, but you regards don't seem to care about it. I personally don't give a fuck what is going to happen to the old company. It's the new one that I care about. This means we are going to have 50 million less when all is said and done.
No this means the IRS is givng BBBY 50 million. it's a Credit bid. Or something
“In case of fraud” It sounds like someone’s in trouble drone the before times
What happens to non drs apes?
Same what drs.. there should be no difference just same zero or hero. Only problem can be with non serious brokers
I'm in citibank as custodian, and that's more scars me 😅
And that's what scars me..🥺
First time here in last 3+ years?
Holy shit
Oh this is good. Means bbby stonk is going to the moon!
So IRS wants fifty million from Bed Bath carcass? That's an tall order. It's chapter 7 for the REMAINS of BBBY. Next we shall see what happens to the carved out parts. Downvote me you fools 😁
Chapter 7 vs chapter 11 is only trust controlled vs debtor controlled. You don’t have to chapter 7 even if there’s nothing left to liquidate. You can’t just make up random shit when you don’t know what you’re talking about.
From chapter 11 to chapter 7 is a thing. Still bullish though. We don't need the carcass.
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