Monthly Archives: July 2010

1099 Repeal?

Posted on July 30, 2010 by Russ

Before I head out the door, I just saw a short article that a repeal of the new requirement on issuance of 1099s (part of the health care fiasco) was introduced by Democrats today. The measure was an amendment to … Continue reading →

Posted in IRS, Legislation | Tagged | 1 Comment

Vacation

Posted on July 30, 2010 by Russ

It’s time for my annual vacation. I’ll be back on Tuesday, August 10th. Should California have a budget resolution during the next ten days I’ll take time off from my vacation to post about that. Otherwise, you can get your … Continue reading →

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Furloughs Return to California; Are IOUs (Registered Warrants) Coming in September?

Posted on July 30, 2010 by Russ

Governor Schwarzenegger announced yesterday that he has reimposed mandatory furloughs on state workers. Beginning in August there will be three furlough days a month for most state employees. These days are without pay and are a means of helping to … Continue reading →

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HR 2267: Much Ado About Nothing

Posted on July 29, 2010 by Russ

Online poker players and the Poker Players Alliance are celebrating the markup and passage of HR 2267 in the House Financial Services Committee. The measure passed the committee on a vote of 41 yes, 22 no, with one Congresscritter voting … Continue reading →

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Rangel Hit With 13 Counts of Ethics Violations

Posted on July 29, 2010 by Russ

Congressman Charlie Rangel (D-NY), the former chairman of the tax writing House Ways and Means Committee, has been charged with 13 ethics violations. The charges include failing to report the rental income on property in the Dominican Republic on his … Continue reading →

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As the Budget Churns (2010 Edition)

Posted on July 28, 2010 by Russ

California’s constitution required a budget be enacted by June 30th. Californians ought to ask June 30th of what year as there are no negotiations in Sacramento right now. Meanwhile, there was some news from Governor Schwarzenegger. He told reporters today, … Continue reading →

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She Can’t Take It With Her

Posted on July 27, 2010 by Russ

I thought I’d seen most of the methods of hiding cash from the taxman, but this short story is a new one. It seems that a British businessman decided that his aunt needed £140,000 to accompany her to the hereafter. … Continue reading →

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Relief for Non-Profits

Posted on July 27, 2010 by Russ

I don’t do much work for non-profits, but there was a deadline just weeks ago and important news today. All non-profits are now required to file a version of Form 990. The deadline was May 17th, and non-profits that ignored … Continue reading →

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Trading a Cellphone to a Porsche

Posted on July 25, 2010 by Russ

Recently, I saw a short blurb on the local news regarding a teenager who bartered his way from a cellphone to a Porsche. There’s an issue with this, of course, taxes. When you barter goods, you’re supposed to send a … Continue reading →

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Government to Snipes: It’s Time to Head to ClubFed

Posted on July 25, 2010 by Russ

With the recent ruling from the Court of Appeals denying Wesley Snipes’ appeal of his three misdemeanor tax convictions, the US Department of Justice has asked that Snipes head to ClubFed now. Mr. Snipes’ attorneys plan on responding to this … Continue reading →

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