Monthly Archives: December 2013

IRS Provided Some Good Tips this Morning

Posted on December 17, 2013 by Russ

The IRS sends out tax tips, and this morning’s tips are worthy of a repeat: Start a filing system, make charitable contributions, and contribute to retirement accounts. The IRS first noted that individuals should start a filing system. If you … Continue reading →

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IRS E-Filing Closed Beginning on December 26th

Posted on December 17, 2013 by Russ

My software provider sent me an update tonight that the IRS e-filing system will be taking a holiday vacation beginning on December 26th and returning “sometime in early January; the exact date has not been announced.” This will impact business … Continue reading →

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Health Care Fraud Leads to Tax Charge

Posted on December 15, 2013 by Russ

I’ve mentioned previously that if you fail to report illegal income on your tax return, you’re guilty of tax evasion. Yes, illegal income is just as taxable as legal income. This came into play with an ongoing investigation in Southern … Continue reading →

Posted in California, Tax Evasion | 1 Comment

Another Nominee for Tax Offender of the Year

Posted on December 15, 2013 by Russ

It’s getting to be that time of the year: Nominations are due for the Tax Offender of the Year. Remember, to be considered for this award the offender must do more than just cheat on his taxes. It has to … Continue reading →

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It’s Nice to Know I’m Right, But…

Posted on December 14, 2013 by Russ

I’ve written on a few occasions about my battles with the IRS over incorrectly assessed Failure to File and Failure to Pay penalties. (See here, here, and here.) As I noted in the last post linked to above, I submitted … Continue reading →

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Former Bell Administrator Pleads Guilty to Tax Fraud; That’s the Least of His Problems

Posted on December 13, 2013 by Russ

Former Bell (California) City Administrator Robert Rizzo pleaded guilty yesterday to two counts of tax fraud (conspiracy and filing a false income tax return). Mr. Rizzo, though, will likely never directly serve any time at ClubFed for those counts. Why? … Continue reading →

Posted in California | Tagged | 1 Comment

Bank Notice on IRS Tax Refund Fraud

Posted on December 9, 2013 by Russ

The IRS has been making noises that they are more aggressively pursuing identity theft and tax refund fraud. My bank (Bank of the West) sent me a notice on these issues. (I assume it was sent to all Bank of … Continue reading →

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IRS Interest Rates Unchanged for 1st Quarter 2014

Posted on December 9, 2013 by Russ

The IRS announced today that interest rates for the first quarter of 2014 will be unchanged: – 3% for overpayments (2% for corporations); – 3% for underpayments; – 5% for large corporate underpayments; and – 0.5% for the portion of … Continue reading →

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Vacation

Posted on December 1, 2013 by Russ

It’s time for my fall vacation. If something earth-shattering in the tax world happens while I’m relaxing, I’ll take time out to post on it. Otherwise, enjoy the fine bloggers listed in the blogroll on the right. In any case, … Continue reading →

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Inherited IRAs and Bankruptcy Heading to the Supreme Court

Posted on December 1, 2013 by Russ

Can creditors go after an inherited IRA in bankruptcy? The Supreme Court will examine that issue next Spring when they hear arguments in Clark v. Rameker. The Supreme Court will resolve a split in the Courts of Appeal (the 7th … Continue reading →

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