Author Archives: Russ

IRS Didn’t Tell a Court About the Missing Lerner Emails

Posted on June 29, 2014 by Russ

Eventually, we will know exactly what happened with the IRS scandal. For now, little pieces continue to drip out. One of the most recent concerns the missing Lois Lerner emails. I had forgotten that Judicial Watch had filed a Freedom … Continue reading →

Posted in IRS | Tagged | 1 Comment

There’s No Trust Like a Sham Trust

Posted on June 29, 2014 by Russ

My dentist loves me…well, he loves my teeth. Years of orthodontia and ice hockey combined with some interesting genetics has helped my dentists make money off me. One local dentist decided to make money in a different way. Dr. Leslie … Continue reading →

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FBAR Deadline Is June 30th, but It’s Not a Midnight Deadline

Posted on June 26, 2014 by Russ

Almost every tax deadline is a postmark deadline. If your return is postmarked by midnight of the deadline day it’s considered timely filed. If you file it electronically, and it’s filed by midnight, it’s timely. Of course, with every rule … Continue reading →

Posted in FINCEN | Tagged | 3 Comments

IRS Ignores AICPA & NAEA; Court Likely Destination for IRS’s New “Annual Filing Season Program”

Posted on June 26, 2014 by Russ

The National Association of Enrolled Agents sent the IRS a letter stating that they didn’t like the idea of a voluntary tax preparer regulation program. (Full disclosure: I’m a member of the NAEA.) The NAEA pointed out that there’s already … Continue reading →

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Lerner Appears to Have Targeted Iowa Senator Grassley

Posted on June 25, 2014 by Russ

In the IRS scandal news of the day, we learned today that Lois Lerner apparently targeted Senator Chuck Grassley (R-IA) and his wife for an audit. In an email, Lois Lerner wrote, Is this the one where we got the … Continue reading →

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Koskinen Channels His Inner Nixon

Posted on June 24, 2014 by Russ

Those of us who are old enough remember this: That is the late President Nixon who stated he was not a crook. Well, last night we had part two of Koskinen Goes to Capitol Hill. He was in front of … Continue reading →

Posted in IRS | Tagged | 1 Comment

Online Gambling Addresses (Updated for 2014)

Posted on June 22, 2014 by Russ

Note: This list has been superseded by the 2015 list. You can find it here. With the United States v. Hom decision, we must again file an FBAR for foreign online gambling sites. An FBAR (Form 114) is required if … Continue reading →

Posted in Gambling | Tagged | 1 Comment

We Don’t Need No Stinkin’ Backups

Posted on June 22, 2014 by Russ

The IRS scandal continues to be the big issue. And lots more news came out over the weekend. First, it turns out the IRS had a contract with an email backup company, Sonasoft; their motto is “Email Archiving Done Right.” … Continue reading →

Posted in IRS | Tagged | 1 Comment

“I Don’t Think an Apology Is Owed”

Posted on June 20, 2014 by Russ

Congressman Paul Ryan is annoyed. There is not much to add to what Congressman Ryan said today. For those who didn’t watch today’s hearing, FoxNews has an accurate summary: Koskinen set a defiant tone during his testimony before the House … Continue reading →

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Just File the FBAR

Posted on June 18, 2014 by Russ

Several of our clients have asked, “The decision on poker accounts being ‘banks’ is nonsensical. Do I really have to file an FBAR for those accounts?” I am in general agreement with the individuals questioning the ruling. Banks and financial … Continue reading →

Posted in FINCEN, Gambling | Tagged | 5 Comments