Monthly Archives: July 2015

Judge Threatens IRS, Justice Department; IRS Closely Monitored Tax-Exempt Applications; IRS Responses to Exempt Organizations Were Designed to Stop Inquiries to Congress

Posted on July 29, 2015 by Russ

Yes, I’m still on vacation. But twin developments in the IRS scandal force me to post. Yesterday, the IRS released documents to Judicial Watch regarding the IRS scandal. Judicial Watch had sued the IRS under the Freedom of Information Act … Continue reading →

Posted in IRS | Tagged | Comments Off on Judge Threatens IRS, Justice Department; IRS Closely Monitored Tax-Exempt Applications; IRS Responses to Exempt Organizations Were Designed to Stop Inquiries to Congress

Vacation

Posted on July 25, 2015 by Russ

It’s time for my annual 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. I’ll be back … Continue reading →

Posted in Taxable Talk | Comments Off on Vacation

Judicial Watch: IRS Used Donor Lists to Target Audits

Posted on July 25, 2015 by Russ

Remember the IRS Scandal? Well, the nuggets continue to drip out. On Friday, Judicial Watch announced that “New Documents Show IRS Used Donor Lists to Target Audits.” Here’s an excerpt: But then, in February 2011, at least five donors of … Continue reading →

Posted in IRS | Tagged | Comments Off on Judicial Watch: IRS Used Donor Lists to Target Audits

FTB Disables “MyFTB” Registrations Until 2016

Posted on July 24, 2015 by Russ

California’s Franchise Tax Board announced yesterday that they disabled registration for “MyFTB,” the online interactive FTB system, until 2016. Beginning July 23, 2015, we disabled the ability to register for a MyFTB account while we enhance the registration process. This … Continue reading →

Posted in California | Tagged | Comments Off on FTB Disables “MyFTB” Registrations Until 2016

Fail, Caesar! Update

Posted on July 23, 2015 by Russ

Yesterday US Bankruptcy Judge Benjamin Goldgar ruled that various lawsuits against Caesars Entertainment can go forward. Caesars Entertainment Operating Company (CEOC) is already in bankruptcy; this ruling increases the chances that Caesars Entertainment Corporation (CEC) follows CEOC into Chapter 11. … Continue reading →

Posted in Gambling | Tagged , | Comments Off on Fail, Caesar! Update

They’ll Know It in Dubuque

Posted on July 19, 2015 by Russ

Perhaps someone will understand the reference in the title (it’s to one of my favorite novels). But this is a tale from Dubuque, Iowa about a scheme gone bad. James Spaulding was the director of the Clarke University Bookstore; he … Continue reading →

Posted in Iowa, Tax Evasion | Comments Off on They’ll Know It in Dubuque

Yes, Illegal Income Is Taxable

Posted on July 19, 2015 by Russ

If you commit fraud do you have to report the illegal income on your tax return? Absolutely! Illegal income is just as taxable as legal income. Al Capone went to prison not for the murders and other crimes he committed … Continue reading →

Posted in Tax Fraud | Comments Off on Yes, Illegal Income Is Taxable

Where There’s Smoke…

Posted on July 12, 2015 by Russ

Martin Olive operates “The Vapor Room,” a medical marijuana dispensary in San Francisco. His business, a sole proprietorship, was audited by the IRS for 2004 and 2005. He lost. He took that case to Tax Court. Back in August 2012 … Continue reading →

Posted in Tax Court | Tagged | 1 Comment

The Operation Was a Success, but the Patient Died

Posted on July 7, 2015 by Russ

No, I’m not veering into medicine today. The title of this post is a homage to the title of a chapter in a book by the late Fred Karpin. Mr. Karpin was writing about doing everything right, but still having … Continue reading →

Posted in Tax Court | Tagged | Comments Off on The Operation Was a Success, but the Patient Died

State Financial Health: Alaska, Dakotas on Top, Illinois, New Jersey, Massachusetts and Connecticut on the Bottom

Posted on July 7, 2015 by Russ

The Mercatus Center at George Mason University released a study today ranking the 50 states on their financial health. Here are the top six states: 1. Alaska (8.26) 2. North Dakota (2.97) 3. South Dakota (2.84) 4. Nebraska (2.75) 5. … Continue reading →

Posted in Alaska, California, Connecticut, Illinois, Massachusetts, New Jersey, North Dakota, South Dakota | Comments Off on State Financial Health: Alaska, Dakotas on Top, Illinois, New Jersey, Massachusetts and Connecticut on the Bottom