Monthly Archives: February 2016

Frivolity Has a Price: $19,837.50

Posted on February 29, 2016 by Russ

The Tax Court doesn’t like frivolous arguments by petitioners. Indeed, if you bring a frivolous argument to Tax Court you can be fined up to $25,000. But what happens when an attorney deliberately pushes a frivolous argument for his clients? … Continue reading →

Posted in Uncategorized | Comments Off on Frivolity Has a Price: $19,837.50

Iowa Legislature Attacking EAs

Posted on February 29, 2016 by Russ

I’m exaggerating a bit, but I’m not happy when I find myself and my colleagues treated as second-class citizens. And that’s may become the case in Iowa. There’s a proposal in the Iowa legislature to regulate tax professionals. CPAs are … Continue reading →

Posted in Iowa | Comments Off on Iowa Legislature Attacking EAs

Math Is Hard, IRS Edition

Posted on February 28, 2016 by Russ

I was so, so tempted to write, “Math Is Hard, IRS Addition,” but I held off. Why? Because it turns out that it wasn’t 104,000 people who were victimized in last year’s “Get Transcript” hack, nor was it 334,000 taxpayers. … Continue reading →

Posted in IRS | Tagged | Comments Off on Math Is Hard, IRS Edition

Mr. Trump Has Trouble With the Truth

Posted on February 28, 2016 by Russ

Presidential candidate Donald Trump has stated that he cannot release his tax records because he’s under audit. He’s wrong. His tax records are his own, he can post them on billboards, websites, or anywhere else he’d like to. As the … Continue reading →

Posted in IRS | Tagged | 1 Comment

Where I Became the “Messenger of Doom” (My Final Comments on Turf Rebates)

Posted on February 21, 2016 by Russ

One of my friends coined my current nickname, the “Messenger of Doom.” It had to do with a year where he made a lot money, and then I gave him the bad news that he had only made about half … Continue reading →

Posted in California | Tagged | 3 Comments

Board of Equalization Excoriated for Ignoring the Law and Binding Precedents

Posted on February 16, 2016 by Russ

My thanks to Dan Walters of the Sacramento Bee for pointing out a California case where the California Board of Equalization (yet another California tax agency; this agency administers sales and use tax) was rightly excoriated. Dan Walters begins: However, … Continue reading →

Posted in California | Tagged | Comments Off on Board of Equalization Excoriated for Ignoring the Law and Binding Precedents

North Carolina Added to Bad States for Gamblers

Posted on February 13, 2016 by Russ

North Carolina changed its tax law over a year ago. While I have professional gambling clients in North Carolina, I do not currently have amateur gambling clients. It’s likely I won’t be getting many of those, as North Carolina legislators … Continue reading →

Posted in Gambling, North Carolina | 5 Comments

Phishers Target Tax Professionals

Posted on February 11, 2016 by Russ

I received the following email today: From: [redacted] [differentname@mail.csuchico.edu] Sent: Thu 2/11/2016 3:06 PM To: undisclosed-recipients: Hi, I and my Family are looking for a very Qualified CPA in your area. Please let us know if you can be available … Continue reading →

Posted in Taxable Talk | Tagged | Comments Off on Phishers Target Tax Professionals

Can a Resident of a Non-Tax Treaty Country (With Respect to Gambling) Get His Withheld Funds Back?

Posted on February 9, 2016 by Russ

Today, I received an inquiry from a citizen of New Zealand (he is not a US citizen or permanent resident). He had done well in a poker tournament here in the United States–well enough to have had 30% of his … Continue reading →

Posted in Gambling, International | Comments Off on Can a Resident of a Non-Tax Treaty Country (With Respect to Gambling) Get His Withheld Funds Back?

IRS Must Pay Fees in Civil Forfeiture Case

Posted on February 8, 2016 by Russ

I’m a huge fan of the Institute for Justice. Last week, the Institute for Justice won a case for a man who had $107,702.66 seized from him. Last May, Lyndon McLellan won the right to get back his $107,702.66 that … Continue reading →

Posted in IRS | Tagged , | Comments Off on IRS Must Pay Fees in Civil Forfeiture Case