Monthly Archives: February 2006

The Saga of Western Tax Service Draws to a Close

Posted on February 9, 2006 by Russ

Samuel Joseph DeAngelo headed Western Tax Service. It attracted tax clients quickly as it averaged $2,500 refunds for each customer. It’s techniques were certainly interesting, and come from the Richard Hatch School of Tax Preparers: – Making up false deductions … Continue reading →

Posted in Tax Fraud | Tagged | 3 Comments

Fast Food Litter Tax Passed in Oakland

Posted on February 9, 2006 by Russ

I have a few clients in Oakland. They’ll probably be paying a bit more for that Big Mac or other fast food; the Oakland City Council passed an ordinance Tuesday that imposes a fee of between $230 to $3,815 on … Continue reading →

Posted in California | Comments Off on Fast Food Litter Tax Passed in Oakland

Criminal Update

Posted on February 9, 2006 by Russ

The tax evaders have been busy. First, a woman in Tullahoma, Tennessee successfully embezzled about $500,000. Only one problem: she forgot to pay her federal income tax on her ill-gotten gains. She pled guilty to four counts of tax evasion … Continue reading →

Posted in Tax Evasion | 1 Comment

Tax Reform Panel’s Recommendations DOA

Posted on February 9, 2006 by Russ

The Senate’s top Democratic tax writer declared that the Tax Reform Report issued last year is dead on arrival. “That thing’s dead. That’s dead, Mr. Secretary,” said Max Baucus, D-MT. When the panel’s recommendations came out last year, that’s exactly … Continue reading →

Posted in Legislation | 10 Comments

IRS Targets Share Lending

Posted on February 9, 2006 by Russ

According to this story [paid subscription required] in today’s Wall Street Journal, the IRS is targeting a technique used by highly paid individuals to defer capital gains taxes. The strategy is called “prepaid variable forward,” and is a hedging strategy … Continue reading →

Posted in IRS | 2 Comments

A Few More Brains than Hatch

Posted on February 8, 2006 by Russ

But it wouldn’t take much for that to be true. Danni Boatwright, the most recent Survivor champion, paid her taxes on the $1 million she won. “I paid them right away,” she told AP Radio. “(CBS) recommends that you pay … Continue reading →

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Gambling in Stocks vs. Gambling in Casinos

Posted on February 8, 2006 by Russ

Professor Maule has an interesting post on whether people making their living gambling on cards should be treated differently than those gambling on stocks. His conclusion: I wonder if the current Administration and its Congressional allies, in proposing to make … Continue reading →

Posted in Gambling | 1 Comment

Eight Million Ways to Lie

Posted on February 3, 2006 by Russ

Lawrence Block wrote a great book, Eight Million Ways to Die. A Milpitas, CA couple could write a sequel: Eight Million Ways to Lie (on Your Tax Return). The couple sold an invention to the predecessor of Lucent Technologies for … Continue reading →

Posted in Tax Evasion | 2 Comments