Monthly Archives: October 2005

A Penny Saved Leads to Tax Court

Posted on October 11, 2005 by Russ

Well, 48 pennies. Most tax software rounds off numbers to whole dollars. Indeed, the IRS suggests taxpayers do this in their instructions to Form 1040: “You may round off cents to whole dollars on your return and schedules. If you … Continue reading →

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California Conforms, Sort Of

Posted on October 11, 2005 by Russ

The Federal Tax Code is complicated enough. As a practicing tax professional in California, it would be nice if California conformed to the Federal Code. On Friday, Governor Schwarzenegger signed AB 115, putting California into conformity with more of the … Continue reading →

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Adelphia Founder Indicted on Tax Evasion Charges

Posted on October 7, 2005 by Russ

John Rigas, founder of Adelphia Communications, and his son Timothy, were indicted on tax evasion charges. According to this article, they diverted $1.85 billion for their personal use from Adelphia. The pair has already been found guilty of fraud and … Continue reading →

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New IRS Form 944 for Very Small Businesses to Replace Form 941

Posted on October 5, 2005 by Russ

For the very small business owner, the IRS will introduce in 2006 a new form, Form 944. You can view a draft version of the form here. The new form is for businesses who pay $1,000 or less in employment … Continue reading →

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Bowling for Dollars

Posted on October 5, 2005 by Russ

I remember watching the television show Bowling for Dollars. Chick Hearn, the late Los Angeles Lakers broadcaster, was the host. Contestants bowled a couple of frames and got paid small cash prizes based on how well they did. Charles Lanza, … Continue reading →

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