Monthly Archives: September 2018

Let Us Entertain You (or Not)

Posted on September 20, 2018 by Russ

The Tax Cuts and Jobs Act (TCJA) or, as I like to call it, the 2017 tax reform law, changed quite a few things for taxes. Most of these lower rates, or add a new deduction or credit. However, there … Continue reading →

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One Tiptoe Forward for Representation, With that Giant Step Backwards Still Coming

Posted on September 19, 2018 by Russ

The IRS released a Fact Sheet today on the new transcript redaction policy that begins on Monday. There’s one very slight piece of good news for tax professionals in the Fact Sheet: If necessary for return preparation, a client may … Continue reading →

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IRS Extends Deadlines for Those Impacted by Hurricane Florence

Posted on September 15, 2018 by Russ

Hurricane Florence is battering North and South Carolina. News reports indicate “biblical” amounts of rain will fall, with catastrophic flooding probable throughout the Carolinas. Today, the IRS announced that they are extending deadlines for those in the federal disaster zone … Continue reading →

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Can a Professional Gambler Take the Foreign Earned Income Exclusion?

Posted on September 15, 2018 by Russ

I was asked that question this past week: Can a professional gambler take the Foreign Earned Income Exclusion? The Exclusion allows one to exclude about $100,000 of income from income tax. The IRS website (which is quite good) has a … Continue reading →

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Regulations Matter, Too

Posted on September 10, 2018 by Russ

I used to have my office in Irvine, California. Today, like most days, the weather in Irvine will be absolutely gorgeous: A high of 79 and a low of 66. You can’t ask for better (weather) climate. How about the … Continue reading →

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