Monthly Archives: September 2008

Three More Sentenced in Evanson Case

Posted on September 8, 2008 by Russ

Three CPAs will be joining attorney Dennis Evanson at ClubFed. Reed Barker of Littleton, Colorado got 18 months, Brent Metcalf of Cottonwood Heights, Utah, received 24 months, while Stephen Peterson of Coalville, Utah received 35 months. Additionally, Barker must make … Continue reading →

Posted in Tax Evasion | Comments Off on Three More Sentenced in Evanson Case

Another Week, No Progress for California’s Budget

Posted on September 7, 2008 by Russ

Frankly, the headline is all you need to know about the situation in Sacramento. Republicans announced a budget plan that had no new taxes; their plan was condemned by Democrats. Yet Democrats haven’t proposed anything acceptable to Republicans. So the … Continue reading →

Posted in California | Comments Off on Another Week, No Progress for California’s Budget

Not A Good Week for Tax Protesters

Posted on September 7, 2008 by Russ

This past week wasn’t a good one for tax protesters. Irwin Schiff, who is 80-years old, is spending 13 years at ClubFed in Terre Haute, Indiana. Well, make that 13 years and 11 months—those additional 11 months a result of … Continue reading →

Posted in Tax Fraud | Tagged | Comments Off on Not A Good Week for Tax Protesters

Labor Day Payroll Tax Fraud

Posted on September 1, 2008 by Russ

I’ve said this before but it bears repeating—especially on Labor Day. If you want to get in trouble with the IRS either withhold payroll taxes and don’t remit them to the IRS or pay your employees under the table (thus … Continue reading →

Posted in Payroll Taxes, Tax Fraud | Comments Off on Labor Day Payroll Tax Fraud

UCI Identity Theft Leads to Texas

Posted on September 1, 2008 by Russ

Earlier this year officials at the nearby University of California, Irvine announced that about 1,100 student identities were stolen by Texas-based United Healthcare. Now several individuals have been indicted for filing phony tax returns using these students identities (and others). … Continue reading →

Posted in Tax Fraud | Comments Off on UCI Identity Theft Leads to Texas

Interest Rate Changes

Posted on September 1, 2008 by Russ

While interest on underpayments to the IRS will increase to 6% from 5% in the third quarter, interest on underpayments to California will fall from 7% to 5% as of January 1st. Corporate underpayment interest in California will fall from … Continue reading →

Posted in California, IRS | Comments Off on Interest Rate Changes

No Progress on the California Budget Front

Posted on September 1, 2008 by Russ

Another week and there’s absolutely no progress on the California budget front. Republicans won’t vote for anything with a tax increase and Democrats won’t vote for anything without a tax increase. The latest Republican proposal (which has major budget cuts … Continue reading →

Posted in California | Comments Off on No Progress on the California Budget Front

IRS Suspends ISO AMT Through September 30th

Posted on September 1, 2008 by Russ

The IRS announced last week that they would suspend collection of the Alternative Minimum Tax (AMT) on incentive stock options (ISOs) through September 30th. Senator Charles Grassley (R-IA) believes that legislation will clear Congress by month-end to reduce the tax … Continue reading →

Posted in IRS | Comments Off on IRS Suspends ISO AMT Through September 30th