Monthly Archives: August 2016

Caesars Gets Another Month

Posted on August 31, 2016 by Russ

Caesars Entertainment Operating Company (CEOC) appealed Judge Goldgar’s decision to US District Court (decisions in a bankruptcy court get appealed to the District Court). Judge Robert Gettleman gave Caesars until October 5th; Judge Gettleman will hold a hearing in Chicago … Continue reading →

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Fail, Caesar: The Bankruptcy May Grow

Posted on August 28, 2016 by Russ

On Friday, Bankruptcy Judge Benjamin Goldgar ruled that an injunction against $11 billion in lawsuits over how Caesars split itself into various units will be allowed to expire on Monday, August 29th. Given that the first of several court rulings … Continue reading →

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Kiplinger’s Tax Friendly and Tax Unfriendly States: No Surprises

Posted on August 27, 2016 by Russ

Kiplinger released its list of the tax friendly and least tax-friendly states in the US. There really aren’t any surprises: Here are the bottom ten: 1. California 2. Hawaii 3. Connecticut 4. New York 5. New Jersey 6. Minnesota 7. … Continue reading →

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Paying Employment Taxes Is Optional…Until You Get Caught

Posted on August 21, 2016 by Russ

Two stories regarding employment taxes from the past week should serve as a reminder that paying employment taxes is only optional until you get caught. First, an update on the individual who thought he could just create a new business … Continue reading →

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Three Sets of Books Isn’t Better than One

Posted on August 21, 2016 by Russ

From time to time I’ve seen stories of individuals using two sets of books: One with the actual numbers and one with the (lesser) numbers used to prepare the tax returns. It’s a great idea…until you get caught. A former … Continue reading →

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Five Sentenced for Tax Fraud; Justice Department Gets ITINs Wrong

Posted on August 14, 2016 by Russ

A Justice Department press release caught my eye. Five individuals, all Mexican nationals residing in the US, were sentenced to ClubFed for terms between 33 months and 121 months. The five individuals had pleaded guilty to conspiracy to commit mail … Continue reading →

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Exempt Organization Extension Filing Deadline Is Monday

Posted on August 11, 2016 by Russ

The extension deadline for filing Form 990 series returns for tax-exempt organizations is Monday, August 15th. This deadline is for the 501(c) series of organizations that filed extensions back in May, including charitable organizations, welfare organizations, social clubs, and other … Continue reading →

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Nevada Commerce Tax Filing Deadline Is Monday

Posted on August 11, 2016 by Russ

The deadline for filing Nevada Commerce Tax returns is Monday, August 15th. The tax is a modified gross receipts tax on businesses with more than $4 million of Nevada gross receipts. However, all Nevada businesses must file the returns. Impacted … Continue reading →

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