Monthly Archives: June 2018

The Amazing, Incredible, Expanding Postcard!

Posted on June 29, 2018 by Russ

When I was a child, people used postcards to save on postage. Postage for postcards ran a nickel. That was less than a phone call. Today, with the emergence of cellphones, the only postcards I receive are advertisements. But the … Continue reading →

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The FBAR Is *Not* Due Tomorrow

Posted on June 28, 2018 by Russ

Most tax-related deadlines are on the 15th of various months. Income tax returns for individuals are due on April 15th; the extended deadline is October 15th. But just to have fun with us there are some exceptions. One of these … Continue reading →

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Wayfair and Economic Nexus

Posted on June 24, 2018 by Russ

Last week the Supreme Court ruled in South Dakota v. Wayfair that South Dakota’s law forcing Wayfair, an Internet retailer, to collect (and remit) sales tax to South Dakota (a state that it did not have physical nexus to) was … Continue reading →

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Gambling with an Edge Podcast

Posted on June 22, 2018 by Russ

I was the guest on this week’s Gambling with an Edge podcast. You can download the podcast here or on iTunes. The main point of discussion was the new tax law, but we covered some other topics such as bad … Continue reading →

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Battling for Tax-Free Bobbleheads: Will Reds Win in Court?

Posted on June 14, 2018 by Russ

This has not been a good year for the Cincinnati Reds. With just 25 wins in 68 games they have the worst record in the National League. While they have one of the best players in baseball–Joey Votto–the rest of … Continue reading →

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IRS Interest Rates Unchanged for the Third Quarter of 2018

Posted on June 9, 2018 by Russ

The IRS announced yesterday that IRS interest rates will be unchanged for the third quarter of 2018: The rates will be: – 5 percent for overpayments, 4 percent in the case of a corporation; – 2.5 percent for the portion … Continue reading →

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IRS Offers Penalty and Filing Relief on New Transaction Tax on Foreign Earnings

Posted on June 4, 2018 by Russ

Individuals who own foreign entities typically have complex returns. I prepare returns for three such individuals; they’re all on extension. Yet one item needed to be prepared for these individuals by April 18th: the new Section 965 transition tax. One … Continue reading →

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A Thriller of a Decision Upcoming

Posted on June 3, 2018 by Russ

The Wall Street Journal yesterday highlighted Judge Mark Holmes of the United States Tax Court. Judge Holmes’s opinions are extraordinarily readable even to those who know little about tax law. I’ve noted Judge Holmes’s writings in the past (on the … Continue reading →

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