Monthly Archives: December 2009

2009 Tax Offender of the Year

Posted on December 31, 2009 by Russ

There were, as usual, several deserving individuals for the 2009 Tax Offender of the Year. To be considered for the Tax Offender of the Year award, you must do more than cheat on your taxes. It has to be special; … Continue reading →

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What’s Good for the Goose Is Good for the Gander

Posted on December 30, 2009 by Russ

If you move and don’t notify the IRS, bad things can happen. The IRS can send to your last known address a Notice of Deficiency. Even if you don’t receive it, it will be considered received if it was sent … Continue reading →

Posted in IRS, Tax Court | Tagged | 1 Comment

That’s Entertainment!

Posted on December 30, 2009 by Russ

When I last wrote about James Traficant, the former Congressman who went to ClubFed after being convicted on ten counts of tax evasion, bribery, racketeering, and obstruction of justice, Mr. Traficant was debating whether or not to run for Congress … Continue reading →

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A Loss for the Taxpayer but a Win for Gamblers

Posted on December 28, 2009 by Russ

The Tax Court today looked at the case of a couple who gambled in their local casino, won, but didn’t include the income on their tax return. That they had taxable income is a given, but there’s a very interesting … Continue reading →

Posted in Gambling | 1 Comment

Worse than Michigan: Gary, Indiana

Posted on December 28, 2009 by Russ

I was sent a link this morning to the Report of the Fiscal Monitor for Gary, Indiana. This suburb of Chicago located along Lake Michigan has, “…a proud history, tremendous physical assets and human resources. Today, however, the City’s future … Continue reading →

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One List Made, Another Missed

Posted on December 28, 2009 by Russ

Last week I was notified that Taxable Talk made a list of the top 50 accounting blogs. It’s nice to be listed with such worthy blogs. Taxable Talk didn’t make Dan Meyer’s list of the Twelve Blogs of Christmas this … Continue reading →

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Worse than California: Michigan

Posted on December 28, 2009 by Russ

Sure, California has problems. Our legislators can’t figure out that if you have $70 billion coming in that you can’t spend $90 billion. Still, there’s plenty of businesses located in the Bronze Golden State (mine included). Then there’s Michigan. How … Continue reading →

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Who’s in the Crosshairs?

Posted on December 28, 2009 by Russ

The IRS released their Fiscal Year 2009 Enforcement Results last week. Business audits are down while individual audits are up. If your income is over $1 million, you have a 6.42% chance of being audited. If your income is under … Continue reading →

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Governor Schwarzenegger Wants $8 Billion from the Feds

Posted on December 24, 2009 by Russ

The joy of living in California. The wonderful climate (it’s going to be 70 and sunny today). The beach is just a 15 minute drive from my house. I live in the safest city in the country. And our state … Continue reading →

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At Least They Got 30% Right…

Posted on December 24, 2009 by Russ

Government efficiency is usually thought of as an oxymoron. Yet another example of this has come to light—this time, in the world of tax. The Treasury Inspector General for Tax Administration (TIGTA) audited the IRS’ assignment of Individual Taxpayer Identification … Continue reading →

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