Monthly Archives: December 2009

The “I Was Kidnapped” Defense to Tax Evasion

Posted on December 13, 2009 by Russ

If you’re accused of tax evasion, there are a myriad of good defense strategies. However, claiming you were kidnapped by IRS Agents isn’t one of them. Judge William Terrell Hodges rejected that claim along with several others made by Mark … Continue reading →

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Knocked Out From California

Posted on December 13, 2009 by Russ

Once a month the Irvine Marriott holds boxing matches. I’ve been told that they’re selling out, so it’s apparent that boxing does draw well in California. It’s likely that a major prize fight would also draw well. Bob Arum is … Continue reading →

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“Cutting Spending” Isn’t In Congress’ Vocabulary

Posted on December 13, 2009 by Russ

When you or I run into cash flow problems, what do we do? We’re forced to cut spending, of course. It’s not as if we have a choice: We can’t print money, and robbing banks is usually not a good … Continue reading →

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Links from the Blogosphere

Posted on December 12, 2009 by Russ

Over the past few days there’s been plenty of good stuff in the tax blogosphere. Here are some highlights: Joe Kristan wrote about William Benson. Mr. Benson wrote The Law That Never Was alleging that the 16th Amendment wasn’t ratified. … Continue reading →

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More Gambling Questions from the Mailbag

Posted on December 9, 2009 by Russ

A few interesting questions have come in recently on gambling and taxes: Question. I think it’s ridiculous that you have to file an FBAR on an online gambling account. These aren’t bank accounts and I don’t think the government can … Continue reading →

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$534,544 Is Greater Than $10,000

Posted on December 6, 2009 by Russ

I don’t think any of you have trouble with realizing that the title of this post is true. Yet for Terry Davis, formerly of New Haven, Connecticut and now a resident of Las Vegas, that simple statement posed a problem. … Continue reading →

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Next Time, Hide the Cash and Books Better

Posted on December 6, 2009 by Russ

I’ve commented from time-to-time that cash income is just as taxable as payments by check or credit card. I’ve also mentioned that certain businesses have more problems than others with that; strip clubs are one example. Another example would be … Continue reading →

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Thank You, George Cohan: A Gambler Gets Lucky

Posted on December 3, 2009 by Russ

George Cohan is known as “the man who owned Broadway.” He also proved quite helpful to a gambler today at the US Tax Court. Jose Caro liked horse racing. Any and every day he could, he went to the track … Continue reading →

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IRS 2009-2010 Priority Guidance Plan

Posted on December 3, 2009 by Russ

A couple of weeks ago the IRS released their 2009-2010 Priority Guidance Plan. There are 315 items on the list. It reflects the IRS’ goals in areas to give guidance; not every one of the 315 items will be covered … Continue reading →

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Standard Mileage Rates for 2010

Posted on December 3, 2009 by Russ

The IRS announced this morning the standard mileage rates for 2010. They are: $0.50/mile for business miles ($0.55/mile in 2009) $0.165/mile for medical and moving ($0.24/mile in 2009) $0.14/mile for charitable purposes (unchanged; set by statute) The details are in … Continue reading →

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