COIP - 2007 Tax Shelter Obligations - Page 11
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Thread: COIP - 2007 Tax Shelter Obligations

  1. #101
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    COIP Shelter

    I was wondering if anybody received a letter from CRA and agreed to a settlement?

    Thank you


  2. #102
    Senior Member sags's Avatar
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    People should pay the settlement offer from CRA to stop the accumulation of interest and possible seizure of assets.

    In 2014, the CRA recovered all amounts owing by way of a lien on his property.

    http://business.financialpost.com/le...ges-court-says

    If people wish to participate in a lawsuit to recover their money they can still do that, although it doesn't look like there is much chance of winning in tax court.

    Similar tax reduction schemes have been deemed fraudulent in several Federal Courts and upheld by the Supreme Court.
    Last edited by sags; 2017-05-09 at 05:41 AM.
    Someone planted a tree a long time ago so I can sit in the shade.

  3. #103
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    Quote Originally Posted by sags View Post
    People should pay the settlement offer from CRA to stop the accumulation of interest and possible seizure of assets.

    In 2014, the CRA recovered all amounts owing by way of a lien on his property.

    http://business.financialpost.com/le...ges-court-says

    If people wish to participate in a lawsuit to recover their money they can still do that, although it doesn't look like there is much chance of winning in tax court.

    Similar tax reduction schemes have been deemed fraudulent in several Federal Courts and upheld by the Supreme Court.
    You don't have to sign the offer of settlement, but it is advisable to pay off the CRA to avoid accumulating any more interest. The common misconception is that if you don't sign the offer of settlement, the next step is to fight the CRA on your own. That is not true. What it means is that the next step, test cases will be randomly selected to go to court. Whether you will be selected as a test case, I don't know what is the chance. Will have to ask the CRA about that. Once paid, you can apply for taxpayer interest relief. Whether you qualify will depend on how you fill out the form. May even have to talk to an account about that.

    I am still on the fence about signing the waiver and have gotten two extensions to make my decision. One thing I am certain, I will not take part in the law suit. I believe it's a scam. From COIP to Profitable Giving to Justice Pharma, they are all the same people. Preying on your desperation because of your inability to pay off what you owe. You are better off trying to work out a payment plan with the CRA and throwing away good money into this mess.

    I wish all of you the best of luck.

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  5. #104
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    I wholeheartedly agree with Pissedoffmofo. Why anyone would join the Profitable giving (PGC) lawsuit is baffling. Do you keep getting e-mails from PGC or Justice Pharma? Ask yourself: how did they get your e-mail address? The only way is from COIP sharing their donor database containing contact info with PGC, so as Pissedoff said, it's all the same horrible people preying on our fears. They know that there are a large number of donors who most likely can't afford to pay what they owe so they are trying to milk them for a few more dollars with the hope that the lawsuit will prevail, but offer no guarantees. I find it disgusting that these promoters are trying to make more money from the same donors who they lied to and scammed. Fool me once, shame on you, fool me twice, shame on me. I hope CRA investigates and goes after the promoters, we shall see. Good luck to all.

  6. #105
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    Quote Originally Posted by Casio View Post
    I wholeheartedly agree with Pissedoffmofo. Why anyone would join the Profitable giving (PGC) lawsuit is baffling. Do you keep getting e-mails from PGC or Justice Pharma? Ask yourself: how did they get your e-mail address? The only way is from COIP sharing their donor database containing contact info with PGC, so as Pissedoff said, it's all the same horrible people preying on our fears. They know that there are a large number of donors who most likely can't afford to pay what they owe so they are trying to milk them for a few more dollars with the hope that the lawsuit will prevail, but offer no guarantees. I find it disgusting that these promoters are trying to make more money from the same donors who they lied to and scammed. Fool me once, shame on you, fool me twice, shame on me. I hope CRA investigates and goes after the promoters, we shall see. Good luck to all.
    I was never contacted by PGC, though the person who got me into this is my coworker and has been emailing me to join the law suit. I don't want to be put in a position that I'll get double teamed into signing up for this crap. I also don't want to be in the position that I may throw someone out the window! LOL

    What's also infuriating is that they are saying that your loan isn't settled due to rogue promoters and in order to settle you have to pay the equivalent of 13 % of ur loan to do so or risk the collection agency coming after you! It's only if you settle the loan that you can take part in the law suit, which will cost you even more money.

    Guys and girls, DONT DO IT!!!!

    While I have no comment about the loan, I can say that you can benefit from the lawsuit without taking part in it. If for some miraculous reason, the lawsuit is successful, you can still "settle" your loan later.
    Your main priority should be to pay back the CRA to avoid anymore interests. Everything else is irrelevant.

    Once again, good luck !

  7. #106
    Junior Member
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    Apr 2017
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    1

    Collections

    If you get contacted by collections, send them a letter to stop all contact, dispute the amount owing and tell them to take you to court. If they follow through and actually move fwd. with a court process (thousands of participants) I doubt that any judge will side with the sleazy promoters of these programs, despite there being contracts. CRA has stripped them of their charitable donations status, programs have been deemed a sham, further audits by CRA, took consumer money already and are wanting more (was never supposed to be more obey from consumer), etc., etc.


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