Monthly Archives: December 2007

A $52 Million Mistake

Posted on December 13, 2007 by Russ

Billionaire pays IRS $52 million in back taxes screams the headline in this morning’s Orange County Register. Igor Olenicoff, a member of the Forbes 400 (the 400 wealthiest Americans) and owner of Olen Properties, used offshore bank accounts to hide … Continue reading →

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A Minor Fix

Posted on December 13, 2007 by Russ

I recently received notice that if you attempted to access this site by going to https://taxabletalk.com you’d get an error. I’ve fixed that through the help of a friend who showed me “A” records and the like. You should be … Continue reading →

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States Don’t Like Trust Frund Tax Violators, Either

Posted on December 11, 2007 by Russ

I used to work in Stockton. And I know that I have at least one reader who resides there (a former co-worker). He is probably already aware of the problems that the Sang family faces. Richard Sang, his wife Amber … Continue reading →

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How To Lose In Tax Court

Posted on December 11, 2007 by Russ

Joe Kristan has a post describing the efforts of Frank Black of North Carolina. As Joe notes, “- When he wrote checks to his college-age daughter, he deducted the amounts as ‘supplies’ and equipment purchases. – He told the Tax … Continue reading →

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Property Tax Deadline Is Monday

Posted on December 10, 2007 by Russ

If you own property in California, Monday is the deadline to pay your first property tax bill. The bill must either be paid in person at your county’s tax-collector’s office or it must be postmarked by Monday. Your tax-collector may … Continue reading →

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If You Want to Visit ClubFed…

Posted on December 10, 2007 by Russ

There’s a sure-fire method to get the IRS upset with you. Just withhold trust fund taxes from your employees (FICA and income tax) and don’t send them to the IRS. I can almost guarantee you that bad things will happen … Continue reading →

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Dentist Who Investigated the Income Tax Gets 33 Months

Posted on December 10, 2007 by Russ

Back in September, I noted the case of Lakeland, Florida dentist Nancy Montgomery-Ware. During her trial for tax evasion, she “figured out” that the income tax isn’t allowed under the Constitution. She also said that her husband told her she … Continue reading →

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Traveling Again

Posted on December 6, 2007 by Russ

I will be traveling again over the next few days, so posting will be light until next Wednesday. Should an AMT patch make it to the President, I will definitely post on that.

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Senate Passes AMT Relief, But Future of Bill Uncertain

Posted on December 6, 2007 by Russ

Late today the Senate passed a one-year Alternative Minimum Tax (AMT) patch that did not have any corresponding tax increases. The measure will now go to the House where it faces an uncertain future. The House had passed a two-year … Continue reading →

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Snipes Trial May Be Delayed Until April

Posted on December 6, 2007 by Russ

Wesley Snipes’ defense attorneys will ask next Tuesday to delay Mr. Snipes’ trial until April. The trial is currently scheduled to begin in January in Ocala, Florida. The defense attorneys, according to Ocala.com, received 1.6 million pages of material from … Continue reading →

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