Monthly Archives: June 2017

Boston Bruins 2, IRS 0

Posted on June 26, 2017 by Russ

The United States Tax Court today looked at whether pregame road meals for a National Hockey League (NHL) team are “meals and entertainment” expense (which would be deductible at 50% of cost) or a “de minimis fringe” and deductible at … Continue reading →

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If You Want to Get In Tax Trouble as a Business…

Posted on June 25, 2017 by Russ

…simply do not deposit your payroll taxes. As best as I can tell, the IRS investigates 100% of such violations. One Missouri business owner pleaded guilty last week to failing to pay the IRS more than $1.4 million in payroll … Continue reading →

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2016 Tax Offender of the Year Gets 34 Months at ClubFed

Posted on June 25, 2017 by Russ

Last April, a husband and wife from Minnesota were indicted on tax evasion charges. There wasn’t anything unusual about what they allegedly did; besides lying to their tax professional and the IRS they deducted personal expenses as business expenses. The … Continue reading →

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California Single-Payer Health Plan Shelved

Posted on June 25, 2017 by Russ

As Samuel Johnson said, “Whatever you have, spend less.” Apparently some Democrats in the California legislature have realized the virtue of this quote. Assembly Speaker Anthony Rendon shelved the single-payer measure, calling it “woefully incomplete.” The California Senate Appropriations Committee … Continue reading →

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“celebritytaxguy” Soon to be at ClubFed

Posted on June 18, 2017 by Russ

Michael Joseph Calalang Cabuhat had been living the good life. He had a nice house in the Hollywood Hills (of Los Angeles) and drove a Ferrari 360 Spider. Mr. Cabuhat owned a tax practice in Glendale (near Los Angeles) and … Continue reading →

Posted in Tax Fraud | Tagged | 1 Comment

Office Closed on June 16th

Posted on June 16, 2017 by Russ

Two idiot drivers raced down Jones Blvd in front of our office this morning driving an estimated 80mph in a 35 zone. They hit an innocent SUV which flipped, caught on fire, and landed on top of a transformer. The … Continue reading →

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IRS Not Moving e-Services to a New Platform this Week

Posted on June 12, 2017 by Russ

The IRS had planned on moving e-Services to a new platform on Thursday, June 15th. However, today I received an email stating it has been postponed until later this summer: The planned move of IRS e-Services to a different platform … Continue reading →

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IRS Interest Rates Unchanged for Third Quarter 2017

Posted on June 9, 2017 by Russ

The IRS announced today that third quarter interest rates will remain unchanged: The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning July 1, 2017. The rates will be: • four (4) … Continue reading →

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I See $25,000 In Your Future

Posted on June 8, 2017 by Russ

When I start reading a Tax Court decision and see the sentence, “Petitioner and her husband derived considerable income from peddling this scheme to gullible individuals,” you know it’s not going to be a good day for petitioners. But I’m … Continue reading →

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Court Rules IRS Cannot Charge for PTINs

Posted on June 2, 2017 by Russ

Back in 2010 to 2011 the IRS ordered all tax professionals to obtain a PTIN–a Preparer Tax Identification Number. The IRS stated this was necessary to track tax professionals, and would help in regulating the tax professional community. There is … Continue reading →

Posted in IRS, Tax Preparation | Tagged , | 2 Comments