Monthly Archives: March 2009

Pre-April 15th Hiatus

Posted on March 29, 2009 by Russ

It’s that time of year again. I’ve written my top ten Bozo Tax Tips to help people like Richard Hatch in his quest to prove 300 million witness wrong. Those tips will start posting automatically beginning this coming Wednesday. Until … Continue reading →

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Hatch Again Asks for Freedom

Posted on March 29, 2009 by Russ

Richard Hatch, the Survivor winner who decided he didn’t have to pay taxes on his $1 million of winnings, is again asking a court to free him. He’s filed a motion with the US District Court in Rhode Island that … Continue reading →

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A Good Blog to Visit

Posted on March 29, 2009 by Russ

Peter Pappas, proprietor of the Tax Lawyer’s Blog, reminded me that I have forgotten to include him on my blogroll. Well, that’s an error I was happy to correct. Mr. Pappas’ blog is excellent, and we share annoyance over an … Continue reading →

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There’s Lots of Waste in California’s Government

Posted on March 25, 2009 by Russ

That’s the only conclusion I can draw after perusing this morning’s Orange County Register. A headline reads, “State Considers Ban on Big-Screen TVs.” No, it’s not April 1st—the headline is for real. The California Energy Commission—that’s the same group of … Continue reading →

Posted in California | 2 Comments

Where’s the Refund

Posted on March 23, 2009 by Russ

A good barometer of when others will receive their California tax refunds is when I will receive mine. My return was filed on February 15th. The Franchise Tax Board has a webpage to check on the status of your refund. … Continue reading →

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Not Pressed for Time Any More

Posted on March 22, 2009 by Russ

We’ve got some lowlights from the tax fraud world. A dentist and a doctor from West Virginia are in trouble. And we’ll take a look at what could happen if your 1031 Exchange uses a dishonest Qualified Intermediary. First, let’s … Continue reading →

Posted in Tax Evasion, Tax Fraud | 1 Comment

Three More Questions from the Mailbag

Posted on March 22, 2009 by Russ

Three more questions from the mailbag this week. We’ll take a look at pensions, extensions, and putting money aside for 2009 taxes. First, a Californian asks: If I retire with a government pension (Calpers) from California, will I have to … Continue reading →

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When a Gambler Loses…

Posted on March 22, 2009 by Russ

The Tax Code is anything but fair towards gamblers. This is especially true for professional gamblers; they’re in one of the few professions where you can’t lose. Section 165(d) states that losses from wagering (gambling) transactions are only allowable up … Continue reading →

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Budgeting 101, Sacramento Democrat Style

Posted on March 18, 2009 by Russ

You’re facing yet another $4 – $8 billion deficit. You’re in the middle of a recession. So do you cut back on spending, or do you propose billions more in new programs which would have to be funded through even … Continue reading →

Posted in California | 1 Comment

Good News from the IRS on Madoff and NOLs

Posted on March 18, 2009 by Russ

This week the IRS handed some beleaguered taxpayers good news. First, the IRS announced that the new NOL provision (a five-year carryback) can be used for 2008 returns. This new NOL provision applies to certain partnerships and S Corporations. And, … Continue reading →

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