If Spongetech did file the company's 2009 taxes the IRS has encompassing powers to conduct their own audits to verify all numbers . The IRS can freeze all bank accounts and seize assets of Company and Management if there are disparities between filed tax return numbers and their own audit discoveries , IF the IRS were to audit Spongetech's tax return ...again , IF Spongetech filed .
If Spongetech failed to file their 2009 tax return the IRS can still freeze all bank accounts of Company and Management until the company does file .
Metter and Moskowitz would also need to file their personal tax returns . The IRS can freeze all
accounts domestic and foreign with co-operating countries if M&M fail to file their personal tax returns , and if they did file then the IRS can freeze and seize their domestic and foreign bank accounts ( with co-operating countries ) if there are any disparities or suspected disparities .
The SEC must go through lengthy processes to prove any allegations . Whereas the IRS only has to think a person or company has filed inaccurate tax returns or has failed to file tax returns for the IRS to freeze and seize just about any assets they want until the person or company does file or has been audited under their Hubble-sized microscopes .
The 2009 tax returns for Spongetech and Metter and Moskowitz may be the trigger points for the SEC to finally move forward with their Formal Investigation and Wells Notice .
Precarious times for Spongetech , company and stock , and Metter & Moskowitz .
As I see it ,
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