Monthly Archives: January 2008

No Verdict Yet

Posted on January 31, 2008 by Russ

The second full day of jury deliberations in the trial of Wesley Snipes on tax evasion and conspiracy charges has come and gone. Jurors will return to work Friday morning at 9:00 a.m. in Ocala, Florida. Today the jury presumably … Continue reading →

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If It Sounds Too Good To Be True…

Posted on January 30, 2008 by Russ

…it usually is. Suppose someone came up to you and told you that you could put your assets in a U.S. trust, then funnel the money into a foreign (offshore) trust, and then have the money return to the U.S. … Continue reading →

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In the Hands of the Jury

Posted on January 30, 2008 by Russ

The fate of Wesley Snipes is now in the hands of a jury in Ocala, Florida. Closing arguments were heard yesterday and it was more of the same. The prosecution noted the facts that Mr. Snipes didn’t pay his taxes … Continue reading →

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A Bad Idea Goes Down to Defeat

Posted on January 28, 2008 by Russ

Governor Schwarzenegger’s health care plan has been defeated in a State Senate Committee. The Governator’s plan would have forced most individuals into purchasing health insurance. It would also have introduced three new taxes. The measure was rejected because even Democrats … Continue reading →

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The Defense Rests

Posted on January 28, 2008 by Russ

I was wrong about the trial running another two to three days. The defense rested this morning in Wesley Snipes’ tax evasion trial in Ocala, Florida. Daniel Meachum, one of Mr. Snipes’ attorneys, made this statement: “We chose not to … Continue reading →

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Is the IRS Reading Taxable Talk?

Posted on January 28, 2008 by Russ

It’s not a dumb question. The TaxProf Blog quotes a piece in Tax Analysts that states that the IRS is aware of tax blogs. “The tax press has played an increasingly important role in the IRS’s communications strategy as the … Continue reading →

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There’s One in Every Crowd

Posted on January 28, 2008 by Russ

I recently wrote an article for Poker Player Newspaper on taxes for poker players (I’ll post a link to the article in about a week when it’s up on their website). This morning I received an email that states, “You … Continue reading →

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The Prosecution Rests

Posted on January 27, 2008 by Russ

The trial of Wesley Snipes and his tax advisors continued in Ocala, Florida last week. The prosecution rested its case on Friday; the defenese will begin presenting its evidence on Monday. The last government witness, IRS agent Steward Stich, testified … Continue reading →

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Weekend Fraud

Posted on January 27, 2008 by Russ

The end of the week didn’t bring an end to tax fraud. There’s a lot to report as the fraudsters have been especially active. First, let’s look at two former public servants. From outside of Atlanta comes the indictment of … Continue reading →

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EFTPS Passwords Must be Updated

Posted on January 27, 2008 by Russ

If you use the federal EFTPS system to pay your federal taxes you must update your password. EFTPS now requires passwords to be eight to twelve characters long, containing at least one uppercase letter, one lowercase letter, and one number … Continue reading →

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