Author Archives: Russ

US-Russia Tax Treaty Mostly Suspended Beginning August 16th

Posted on June 21, 2024 by Russ

The IRS announced today that based on a request from Russia last August that most of the US-Russia Tax Treaty will be suspended beginning August 16, 2024.  One impact: Russians who have gambling income in the US that’s subject to … Continue reading →

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Is IRS Correspondence Broken?

Posted on May 30, 2024 by Russ

As a tax professional with quite a few clients, our clients receive IRS notices. Much of this correspondence (not all, but a large portion) has to be responded to.  My three most recent cases are making me think there are … Continue reading →

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The “Joy” of 1959 Technology

Posted on May 13, 2024 by Russ

Clients of ours (call them John & Betty) just received their IRS refund.  It was off by $1,250, exactly the amount of an estimated tax payment they made.  They made that payment using IRS Direct Pay (and I saw their … Continue reading →

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Surviving a Residency Audit

Posted on May 7, 2024 by Russ

A few years ago, one of my clients (call him Bob) moved from California to Nevada.  He then had a very large capital gain (but while a Nevada resident).  At the time, I advised him that a residency examination (audit) … Continue reading →

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An Identity Protection Unit Saga: Part 6

Posted on April 22, 2024 by Russ

When last we left the saga of my client and his tax year 2020 refund, we were waiting for a call from the Taxpayer Advocate Office.  Well, we received the callback and my client’s refund check was issued last Friday.  … Continue reading →

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Bozo Tax Tip #1: Use a Bozo Tax Professional!

Posted on April 12, 2024 by Russ

The IRS recently highlighted that taxpayers should choose tax professionals wisely; I agree.  I’ve had this as a Bozo Tax Tip in the past, but a new client highlighted this issue for me.  In the previous iteration of this “tip,” … Continue reading →

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Bozo Tax Tip #2: Withhold, but Don’t Remit, Your Employment Taxes!

Posted on April 11, 2024 by Russ

This Bozo Tax Tip—and do remember, these are things you really, really, really shouldn’t try—is aimed at the business owner who is having troubles. Business owners, unlike the federal government, can’t just print money. So let’s assume our hypothetical business … Continue reading →

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Bozo Tax Tip #3: Publicize Your Tax Crimes on Social Media!

Posted on April 10, 2024 by Russ

Social media is really, really big these days. You can follow me on Twitter. I may even update my Facebook page one of these days. Of course, I’m not a tax criminal, and my posts hopefully add knowledge for others. … Continue reading →

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Bozo Tax Tip #4: The $0.68 Solution

Posted on April 9, 2024 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 #5: Procrastinate!

Posted on April 8, 2024 by Russ

Today is April 8th. The tax deadline is just seven days away. What happens if you wake up and it’s April 15, 2024, and you can’t file your tax? File an extension. Download Form 4868, make an estimate of what … Continue reading →

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