Monthly Archives: July 2007

It’s July 19th and There’s Still No Budget

Posted on July 19, 2007 by Russ

In nine days I go on vacation. I think it’s even money as to whether or not California has a budget before I leave. Of course, California is supposed to have a budget signed by June 30th, but that deadline … Continue reading →

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A Patently Good Idea

Posted on July 19, 2007 by Russ

Congress is actually doing something smart. According to the TaxProf Blog, the House Judiciary Committee approved a proposal prohibiting patents of tax planning methods. I’m amazed that Congress is actually doing something intelligent.

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Neteller Settles

Posted on July 18, 2007 by Russ

Somehow it’s fitting on the day that the World Series of Poker champion is crowned that we find out that Neteller, the beleaguered Internet payment processor, has settled with the U.S. Department of Justice. According to the press release that … Continue reading →

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The Other Big Winners at the World Series of Poker

Posted on July 18, 2007 by Russ

Congratulations to this year’s winners at the World Series of Poker, run by Harrah’s, and hosted at the Rio Hotel & Casino in Las Vegas. The Main Event, the World Championship of Poker, has just been completed. This year, 6,358 … Continue reading →

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Another Offshore Scheme Down the Drain

Posted on July 15, 2007 by Russ

I’ve been saying for some time that offshore trusts and bank accounts set up with no purpose at all (except to avoid US income taxes) are definitely in the cross-hairs of the IRS. Another user of this scheme will be … Continue reading →

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There’s Corruption in Chicago? I’m Shocked!

Posted on July 15, 2007 by Russ

Yeah, right. I’m a native of the Windy City and am anything but shocked. A former Alderman (city councilperson) is now facing 13 federal charges, including tax evasion. Arenda Troutman is accused of using a political committee to hide money … Continue reading →

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It Is Difficult to Overemphasize the Breadth and Depth of the Corruption

Posted on July 15, 2007 by Russ

The title of this post is a quote from the 11th Circuit Court of Appeals. Former Atlanta Mayor Bill Campbell had appealed his conviction and his sentence on tax fraud charges. The Appeals Court found his conviction and sentence to … Continue reading →

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Black Guilty, But Not of Tax Fraud

Posted on July 13, 2007 by Russ

Remember the Conrad Black trial? Verdicts have come out, and it’s a mixed bag. All of the defendants (along with Black, there were three co-defendants) were found not guilty of not filing corporate tax returns. However, Black was found guilty … Continue reading →

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Lighting a Match to Evasion

Posted on July 12, 2007 by Russ

Quite a bit of tax evasion to report on tonight. We have fuel for the fire (literally), embezzlement, and even a connection to one of my favorites: Wesley Snipes. Starting in Houston, three men decided to make money the third … Continue reading →

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A Different Kind of Death Tax

Posted on July 12, 2007 by Russ

How did I miss this story from the Orange County Register? “ANAHEIM – The former director of UCLA’s Willed Body Program pleaded guilty to federal tax charges after admitting he never paid taxes on tens of thousands of dollars he … Continue reading →

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