Monthly Archives: September 2013

Attorney Found Guilty of 28 Tax Charges, but Does Get Nomination for Tax Offender of the Year

Posted on September 29, 2013 by Russ

Donald Wanland, Jr. is described as a “financially successful” attorney. A resident of El Dorado Hills, California (a Sacramento suburb), Mr. Wanland practices in real estate, business litigation, and construction litigation. Perhaps I should change that to practiced because a … Continue reading →

Posted in Tax Evasion | Tagged | 1 Comment

It’s Only $67 Million that We Can’t Find…

Posted on September 29, 2013 by Russ

Have you ever lost something? Of course you have–we all have had experiences where we can’t find that paper we need. Of course, just after we get the second copy of the paper we find the original (Murphy’s Law at … Continue reading →

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Thigh Injury the Least of Messi’s Problems

Posted on September 29, 2013 by Russ

Football Soccer star Lionel Messi injured his thigh in yesterday’s game against Almeria (a game his team won, 2-0). Messi will miss two to three weeks with the injury. Meanwhile, Lionel Messi and his father are accused of something more … Continue reading →

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No Loving for Dead Horses in DC Court of Appeals

Posted on September 25, 2013 by Russ

While I was enjoying Texas, the DC Circuit Court of Appeals heard the IRS’s appeal of Loving v. IRS. This is the case that stopped the IRS from regulating tax preparers. The IRS argued that the circuit court got the … Continue reading →

Posted in IRS | Tagged | 1 Comment

A Tale of Two Audits

Posted on September 25, 2013 by Russ

Yesterday and today I represented two taxpayers in examinations (audits). I took a day trip to Texas yesterday, and today spent some time in downtown Las Vegas. One thing is certain: The IRS has far nicer quarters here in Las … Continue reading →

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The Affordable Care Act and Gamblers: A Bad Bet

Posted on September 21, 2013 by Russ

The Affordable Care Act (aka ObamaCare) is a complex law. For those who gamble, both professionally and as amateurs, there will be a multitude of impacts. The law includes twenty new taxes. Let’s take a look at how these will … Continue reading →

Posted in Gambling, IRS | Tagged | 1 Comment

Tax Implications of Full Tilt Poker Remission

Posted on September 17, 2013 by Russ

I did an interview with CardPlayer Media on the tax impact of the Full Tilt Poker remission. (That remission process formally begins tomorrow, September 18th. More information on that is available at the claims website run by the Garden City … Continue reading →

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IRS Scandal: Lerner, Others Re-Enter Spotlight

Posted on September 17, 2013 by Russ

The IRS scandal hasn’t gone away. More documents have been released, and they’re not flattering towards Lois Lerner. Government Executive has this: In a June 2012 email responding to an NPR story discussing the Democratic Senatorial Campaign Committee complaint with … Continue reading →

Posted in IRS | Tagged | 2 Comments

California Won’t Conform with Mortgage Debt Forgiveness for 2013

Posted on September 17, 2013 by Russ

If you have a short sale or a foreclosure and have cancelled debt, tax law treats that as income. However, Congress passed laws excluding most such debt from a short sale or foreclosure related to your principal residence from federal … Continue reading →

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California Is #1…For Highest Marginal Tax Rates for S-Corps

Posted on September 15, 2013 by Russ

The S-Corporation is a business structure that’s well liked by entrepreneurs. It allows for a flow-through entity, corporate protection, and (generally) favorable taxation. Of course, there are exceptions–in tax, there are always exceptions. The Tax Foundation has this wonderful map … Continue reading →

Posted in California, Nevada | 2 Comments