Monthly Archives: February 2010

Hot Air Leads to Trouble

Posted on February 28, 2010 by Russ

When I was an undergraduate in college, I did research at the Lawrence Berkeley Laboratory on the catalyzed production of methane from graphite. I don’t believe that research led to commercial production of natural gas (which is methane, CH4. The … Continue reading →

Posted in Tax Fraud | 1 Comment

The Wyden/Gregg Tax Reform Bill: Interesting, but DOA

Posted on February 28, 2010 by Russ

Senators Ron Wyden (D-OR) and Judd Gregg (R-NH) introduced a bill, “To amend the Internal Revenue Code of 1986 to make the Federal income tax system simpler, fairer, and more fiscally responsible, and for other purposes.” The bill would have … Continue reading →

Posted in Gambling, Legislation | Tagged | 1 Comment

Dumb Criminals, Tax Evading Style

Posted on February 28, 2010 by Russ

If you commit a crime, it’s definitely not a good idea to brag about it to others. It’s an especially bad idea to brag about it on the Internet. Yes, law enforcement and the IRS read the Internet. Joe Kristan … Continue reading →

Posted in Tax Evasion | Comments Off on Dumb Criminals, Tax Evading Style

It’s Unpopular, Unworkable, and Insane, So Naturally They’re in a Hurry to Pass It (Part 2)

Posted on February 22, 2010 by Russ

When I last wrote about the healthcare legislation, I noted the 17 taxes which would be in the plan. Let’s see what’s new in the “Unified Health Care Legislation” proposed by President Obama. 1. Individual Mandate Tax. For those who … Continue reading →

Posted in Legislation | Tagged | 6 Comments

Annualization Method for Estimated Taxes in California

Posted on February 21, 2010 by Russ

Many taxpayers, especially those with income streams that are inconsistent, use the Annualization Method to make their estimated tax payments. For federal tax purposes, it’s relatively easy. You take the year-to-date income through the period end (March 31st, May 31st, … Continue reading →

Posted in California | Tagged | Comments Off on Annualization Method for Estimated Taxes in California

What Do Hawaii, North Carolina, New York, Illinois, and California Have In Common?

Posted on February 21, 2010 by Russ

The Tax Foundation noted last week that several states will be delaying income tax refunds. Hawaii won’t be sending out refunds until July 1st; North Carolina will send them out “when they feel like it,” and New York Governor David … Continue reading →

Posted in California, Hawaii, Illinois, New York, North Carolina | Comments Off on What Do Hawaii, North Carolina, New York, Illinois, and California Have In Common?

When the Whine Under the Hood Is a Dead Rat

Posted on February 21, 2010 by Russ

Finding a good, honest automobile mechanic can be difficult. I’ve been lucky; my car is fairly reliable and my mechanic really is honest. Unfortunately, there’s a mechanic in the Bay Area who invented a unique way to rip off the … Continue reading →

Posted in Tax Evasion | Comments Off on When the Whine Under the Hood Is a Dead Rat

Traficant to Run as an Independent

Posted on February 21, 2010 by Russ

James Traficant is leaving the Democratic party. He is now planning on running as an independent in the May Ohio primary. The Associated Press noted that he doesn’t like the Congressional leadership of House Speaker Nancy Pelosi and Senate Majority … Continue reading →

Posted in Ohio | Tagged | Comments Off on Traficant to Run as an Independent

Nevada’s Budget Troubles

Posted on February 18, 2010 by Russ

While California has been on center stage with its budget troubles, Nevada, too, has had problems. The Silver State is facing an $887 million budget deficit (by comparison, California is facing a $19.9 billion deficit). Unemployment is high, and revenues … Continue reading →

Posted in Nevada | Comments Off on Nevada’s Budget Troubles

Austin Plane Crash

Posted on February 18, 2010 by Russ

As I’m sure you’ve heard, a man set fire to his home in Austin, Texas and then flew his private plane into an office building housing IRS offices. Two bodies have been found. Nineteen individuals were injured in the crash. … Continue reading →

Posted in IRS | Comments Off on Austin Plane Crash