Monthly Archives: October 2015

Gilbert Hyatt Goes to Washington…Again

Posted on October 11, 2015 by Russ

The Franchise Tax Board sent out a release on Friday noting that oral arguments in California Franchise Tax Board v. Hyatt will take place on December 7th. This is the second time this case has reached the US Supreme Court. … Continue reading →

Posted in California | Tagged | 1 Comment

IRS to Tax Professionals: Rules for Thee but Not for Us

Posted on October 8, 2015 by Russ

Today I received an alert from the IRS that a new version of Publication 4557 is available. (At this point, only the web version of the publication is available.) Interestingly, the IRS notes the following: To safeguard taxpayer information, you … Continue reading →

Posted in IRS | Tagged , | 2 Comments

Tax Relief for South Carolinians

Posted on October 7, 2015 by Russ

South Carolina was devastated by a 1000-year storm. Much of the state has been declared a disaster area. A friend of mine who lives in Columbia tweeted pictures that show the absolutely ridiculous amount of flooding. The IRS has offered … Continue reading →

Posted in South Carolina | 2 Comments

Well, That’s One Way to Avoid ClubFed

Posted on October 5, 2015 by Russ

Peter Mizioch pleaded guilty on September 4th to one count of preparing a false tax return. Mr. Mizioch was allowed by the sentencing judge to go on a Caribbean cruise. Mr. Mizioch is now answering to a higher authority — … Continue reading →

Posted in IRS, Tax Evasion | 1 Comment

There Is No Magic OID Process

Posted on October 4, 2015 by Russ

One of my clients handed me a 1099-OID today. That’s income to him, duly noted on his now-filed tax return. A different individual decided to promote a very different OID plan, an “O.I.D. Process.” He’ll be spending nearly six years … Continue reading →

Posted in Tax Fraud | 1 Comment

Uber and Under-the-Table Kickbacks

Posted on October 4, 2015 by Russ

The ride sharing services Uber and Lyft are now active here in Las Vegas. There’s an interesting article on Buzzfeed about how Uber and Lyft got into Nevada. One of my clients asked me a question: Does he have to … Continue reading →

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IRS Computers Won’t be Completely Shutting Down Over Columbus Day Weekend

Posted on October 4, 2015 by Russ

Next Monday, October 12th, is Columbus Day. That’s a federal holiday. In prior years the IRS computer systems completely shut down over the three-day weekend. There was no efiling, no pulling of transcripts, no anything in dealing with the IRS. … Continue reading →

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