Monthly Archives: April 2022

We’re Under Attack!

Posted on April 26, 2022 by Russ

This afternoon, I was answering email and I accidentally clicked on Outlook’s “File Information.”  I happen to notice that the last login was from Buffalo, New York.  I’m just 3,000 miles away in Las Vegas, so I immediately sent a … Continue reading →

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2022 Tax Season: The Tax Season From Hell (Part 1)

Posted on April 26, 2022 by Russ

Mr. Murphy says, what can go wrong will go wrong.  This was definitely the case for the 2022 Tax Season.  In this four-part series, we’re going to cover IRS and government (Congress and the President) failures, our failures, and what … Continue reading →

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The Worst Written IRS Notice Ever?

Posted on April 21, 2022 by Russ

A client, living in a foreign country but who receives his mail in New Jersey (because mail to New Jersey is far more reliable than where he resides) received an IRS notice on his 2021 tax return: Your refund has … Continue reading →

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Bozo Tax Tip #1: No Tax Form, No Income!

Posted on April 15, 2022 by Russ

A new client was on the phone with me last week: “Russ, I just found out that I don’t get a tax form for the income I earn.  That means I don’t have to report it, right?” This individual is … Continue reading →

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Bozo Tax Tip #2: Anger Your Tax Professional!

Posted on April 14, 2022 by Russ

If you are a tax professional living in Las Vegas, and you’re interested in working for me for the 2023 Tax Season (2022 tax returns filed in 2023)–or you are in Las Vegas and you’re interested in becoming a tax … Continue reading →

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Bozo Tax Tip #3: Ignore Cryptocurrency!

Posted on April 13, 2022 by Russ

Right underneath your name and address (and your spouse’s name) on Form 1040 is this question: “At any time during 2021, did you receive, sell, exchange, or otherwise dispose of any financial interest in any virtual currency?” All taxpayers must … Continue reading →

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Bozo Tax Tip #4: They Shoot Jaywalkers, Don’t They?

Posted on April 12, 2022 by Russ

I have, unfortunately, become quite competent in the Report of Foreign Bank and Financial Accounts. That form is better known as the FBAR. It used to have the form number TD F 90-22.1 (yes, it really did) but now goes … Continue reading →

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Bozo Tax Tip #5: Procrastinate!

Posted on April 11, 2022 by Russ

Today is April 11th. The tax deadline is just seven days away. What happens if you wake up and it’s April 18, 2022, and you can’t file your tax? File an extension. Download Form 4868, make an estimate of what … Continue reading →

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Bozo Tax Tip #6: The $0.58 Solution

Posted on April 8, 2022 by Russ

With Tax Day fast approaching it’s time to examine yet another Bozo method of courting disaster. And it doesn’t, on the surface, seem to be a Bozo method. After all, this organization has the motto, Neither rain nor snow nor … Continue reading →

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Bozo Tax Tip #7: Only Income Earned Outside the United States Is Taxable

Posted on April 7, 2022 by Russ

A few days ago I was explaining to a client the basics of the US Tax Code: All income is taxable unless Congress exempts it; nothing is deducible unless Congress allows it. That’s the basics. My office is in Las … Continue reading →

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