Hannover House Inc (HHSE)

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BLOG Update: IRS Release Levy "Estimates" "Probably" Due












Blog posts below NOT verbatim. Selectively Edited.




Thursday, December 18, 2014

Thursday Update

Good Morning - It would be an understatement to say that these are insanely busy days for HHSE.

We wanted to immediately address a shareholder concern - posted from an IHUB link this morning.

The IRS filed a levy against the former California corporation (Truman Press, Inc., dba Hannover House) for "unpaid 941 payroll estimates." Essentially, when the company reincorporated Truman Press, Inc., in Arkansas in 2008, the California entity was abandoned. However, this did not stop an IRS officer out there from "estimating" that payroll taxes "probably" were due, and proceeding with collections.

We have since learned that notices were sent to the former P.O. box in California - and not forwarded to Arkansas. So we had no prior knowledge that an arbitrary assessment had been made (and not contested) and that this has gone into collections. We were informed that the IRS levy was filed last week in Arkansas after they researched where our business has been operating. We have provided the IRS with proof that there were NO payroll taxes due under that entity (we use a payroll service under the FED EIN number for the Arkansas corporation). The levy is being removed by the IRS and the release of Levy is being provided to Hannover House.

The amount being sought under the levy was based on an arbitrary assessment, not on an actual, unpaid obligation. The total amount was $6,308 (pretty insignificant, but still distracting and annoying to have to remove).

Regardless, when the Release of Levy letters are provided to HHSE, we will post one of them here to evidence that what we have said above is fully accurate and truthful.

* * * * * *

Here's the IRS notices in this matter. The Release of Levy letter is "in process" and will be filed once we receive it.












FURTHER Update! Friday, Dec. 19 - Here's a quick recap of our corporate structure:

1). Truman Press, Inc., dba "Hannover House" was a California Corporation registered in 1993. The Federal Employer ID number is 95-445-1494.

2). Hannover House, Inc., is a Wyoming Corporation, a successor to Target Development Inc., et al, registered in 1999. The Federal Employer ID number is 91-1906973.

3). The recently filed IRS Levy was filed in CALIFORNIA against the CALIFORNIA entity, Truman Press, Inc., d/b/a Hannover House, EIN 95-445-1494. This is CLEARLY visible in the documents posted above. This California Levy against "Hannover House" (without the "Inc.") was recently filed in Arkansas.

4). The IRS Levy is NOT against the public company, Hannover House, INC., EIN 91-1906973.

5). Truman Press, Inc., d/b/a Hannover House is a wholly owned corporation of Hannover House, Inc. It has been maintained as an operating entity (but reincorporated into Arkansas) because some of the older film license agreements were made with that entity. However, Truman Press, Inc. does not have a bank account and does not have employees.

6). The "$0 Balance" letter posted yesterday DOES refer to the IRS Levy against Truman Press, Inc., which was filed for the periods of 3/31/2013 along with two quarters in 2014. The point of posting the $0 balance letter as of 12/31/2013 was to show that even the IRS system had acknowledged that there was no balance due - and that LATER, an estimated amount was retroactively assessed.

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