Author Archives: Russ

Utopia Is Dead

Posted on February 16, 2014 by Russ

A perfect place. That’s what comes to my mind when I hear the word “utopia.” Vincent and Mary Giamo had a different idea; Utopia was their nightclub in Orchard Park, New York (near Buffalo). It was quite successful as they … Continue reading →

Posted in Tax Evasion | Comments Off on Utopia Is Dead

Texas’s Gain Is California’s Loss

Posted on February 16, 2014 by Russ

Today a client asked me about where to relocate her company headquarters. Her computer engineers aren’t thrilled with the current location, and would like to move to either California or Texas. I explained the decision has a cost difference of … Continue reading →

Posted in California, Texas | Comments Off on Texas’s Gain Is California’s Loss

DC Court of Appeals Rules Against IRS: Loving Decision Upheld

Posted on February 11, 2014 by Russ

This morning the US Court of Appeals for the District of Columbia unanimously upheld the district court’s decision in Loving v. IRS. This means that the IRS’s goal of mandating licensing for all tax professionals is dead. At some future … Continue reading →

Posted in IRS | Tagged | 1 Comment

Really Big Tax Evasion Leads to Really Long Sentence at ClubFed

Posted on February 9, 2014 by Russ

There’s tax evasion, big tax evasion, and then we have this story of really, really big tax evasion. And we also must highlight once again that tax protester arguments have as much chance of flying as the dodo bird. I’ve … Continue reading →

Posted in Tax Evasion | 1 Comment

Mailbag: Can Gambling Income Transform to Ordinary Income by Moving It Through a Business Entity?

Posted on February 9, 2014 by Russ

Back in the Middle Ages, alchemists attempted to transform base metals into gold and silver. If only one could change lead into gold. Unfortunately, lead is lead and gold is gold. Why do I bring up alchemy? Because I received … Continue reading →

Posted in Gambling, IRS | Comments Off on Mailbag: Can Gambling Income Transform to Ordinary Income by Moving It Through a Business Entity?

IRS Harassment of Tea Party Groups Reportedly Has Continued

Posted on February 8, 2014 by Russ

Congress continues to investigate the IRS scandal, and news this week indicates that it continues. Here’s the first two paragraphs of a Washington Examiner article: Tea Party officials told a congressional panel Thursday they are still being targeted for harassment … Continue reading →

Posted in IRS | Tagged | Comments Off on IRS Harassment of Tea Party Groups Reportedly Has Continued

100 Months of Boredom

Posted on February 4, 2014 by Russ

The cliche, “He who lives in a glass house shouldn’t throw stones,” is the theme of this post. Let’s take Larry Hill of Rocky Mount, North Carolina. Mr. Hill had a tax preparation business. He made this YouTube video asking … Continue reading →

Posted in Tax Fraud | Tagged | 1 Comment

Tax “Professionals” Behaving Badly

Posted on February 2, 2014 by Russ

A couple of news pieces out of the Department of Justice this week highlighted two tax “professionals” who apparently behaved badly. Let’s start with an alleged violator out of Plantation, Florida. Keisha Stewart owns Professional Tax Services Inc., but her … Continue reading →

Posted in IRS | Tagged | 1 Comment

Life as a Second-Class Citizen

Posted on January 31, 2014 by Russ

I’m quite perturbed at the IRS today. The NAEA in its weekly eAlert email confirmed that I am now a second-class citizen. I reported last week about being told that tax professionals might be unable to order transcripts through the … Continue reading →

Posted in IRS | Tagged , | 1 Comment

Speaking of Transcripts…

Posted on January 26, 2014 by Russ

Last week I wrote about the possible elimination of the ability for tax professionals to request transcripts through the Practitioner Priority Service beginning tomorrow (Monday, January 27th). I have not received confirmation of this, nor have I received any official … Continue reading →

Posted in IRS | Tagged , | Comments Off on Speaking of Transcripts…