Monthly Archives: May 2012

Another Survey, Another Bad Result for California

Posted on May 30, 2012 by Russ

Yet another survey puts California among the worst three states from a tax perspective. Alvarez & Marsal Taxand, a consulting and tax advisory firm, surveyed 800 financial executives (302 responded). Among the questions asked was Which states do you view … Continue reading →

Posted in California, Florida, Nevada, New Jersey, New York, Texas | Comments Off on Another Survey, Another Bad Result for California

On the Bright Side, Lawns Need Mowing at ClubFed, Too

Posted on May 28, 2012 by Russ

If there’s been a constant theme in this blog, it’s that if you monkey around with payroll taxes bad things will happen to you. Unfortunately, Michael Cioffi of Loxhatchee, Florida isn’t a reader of this blog. Mr. Cioffi operated a … Continue reading →

Posted in Payroll Taxes, Tax Evasion | Comments Off on On the Bright Side, Lawns Need Mowing at ClubFed, Too

Consistency: WSOP Still Not Accepting Form 5754

Posted on May 27, 2012 by Russ

Back in 2007, I wrote this post regarding staking and the World Series of Poker. Five years have elapsed and nothing has changed. Caesar’s (Harrah’s changed their name a year ago), which operates the WSOP at the Rio Casino here … Continue reading →

Posted in Gambling | Tagged | 1 Comment

Miccosukees Definitely in the Running for Tax Offender of the Year

Posted on May 22, 2012 by Russ

When I last reported on the Miccosukees (a South Florida Indian tribe that runs a casino), the tribe decided to apparently ignore the advice of their then-attorney and not withhold taxes on earnings of their members. They now have been … Continue reading →

Posted in Florida, Gambling | Tagged | Comments Off on Miccosukees Definitely in the Running for Tax Offender of the Year

Strip Club Tax Proposed in California; Unlikely to Become Law

Posted on May 22, 2012 by Russ

There’s now a proposal in California to tax strip clubs. The revenue that would be raised by the tax, proposed at $10 per patron, would go to rape crisis centers in the state. However, because this is a tax it … Continue reading →

Posted in California | Tagged | Comments Off on Strip Club Tax Proposed in California; Unlikely to Become Law

There’s Good Nostalgia and Bad Nostalgia

Posted on May 22, 2012 by Russ

Nifty Fifty’s is a nostalgia-themed chain of restaurants in the Philadelphia area. The chain is apparently successful, having won ten “Best in Philly” awards from readers of a Philadelphia newspaper. While the food is themed from the 1950s, the owners … Continue reading →

Posted in Tax Evasion | 2 Comments

An Incorrect 1099-C Leads to Tax Court

Posted on May 21, 2012 by Russ

A taxpayer receives a notice of canceled debt income (Form 1099-C). He disputes the notice, stating that instead of the debt being canceled in 2008, the debt went away years earlier — 1996. The IRS says the notice says you … Continue reading →

Posted in IRS, Tax Court | 1 Comment

Beware: Lots of Incorrect IRS Notices

Posted on May 21, 2012 by Russ

A client of mine received a CP2000 notice from the IRS alleging that the taxpayer owes nearly $7,000. The IRS states that several stock transactions were not included on the return. My client calls me, I calm him down, and … Continue reading →

Posted in IRS | Tagged | 1 Comment

CPA Allegedly Practices Theft of Funds

Posted on May 20, 2012 by Russ

A few years ago, there was a tax blog called April15.com. The proprietor, William Murray, was a CPA in Sacramento. He had a “trust accounting” system. Payments were sent to him, and he supposedly forwarded those payments on. It was … Continue reading →

Posted in South Carolina, Tax Evasion | 1 Comment

I’m Shocked! A Strip Club Owner Is “Appalled” by Proposed Strip Club Tax

Posted on May 20, 2012 by Russ

Illinois is debating a tax on strip clubs. I’m shocked, just shocked to find that Al Zuccarini, owner of Big Al’s in Peoria (an adult entertainment facility–a strip club) opposes a proposed tax on strip clubs. First, we honor Mr. … Continue reading →

Posted in Illinois | 1 Comment