Author Archives: Russ

Illinois’ Bankrupt Pension Systems and Tax Hikes

Posted on October 31, 2013 by Russ

I was born and raised just outside of Chicago. I still root for Chicago sports teams (Blackhawks, Bears, and Cubs). Yet I’m quite happy that I don’t reside in Illinois today. Illinois’ pension systems are basically bankrupt and Democrats in … Continue reading →

Posted in Illinois | Comments Off on Illinois’ Bankrupt Pension Systems and Tax Hikes

PTIN Follies, Year 4

Posted on October 31, 2013 by Russ

This is the fourth year I’ve had to pay for my PTIN (my third year to renew it). A PTIN is a Preparer Tax Identification Number–it’s a number I use when I prepare a tax return. It’s a means for … Continue reading →

Posted in IRS | Tagged , | 1 Comment

Noguez Gets More Charges

Posted on October 30, 2013 by Russ

Los Angeles County Assessor John Noguez finds himself facing more felony counts in the ongoing bribery/tax evasion scandal rocking the Los Angeles County Assessor’s Office. The new charges relate to three more building where Mr. Noguez and consultant Ramin Salari … Continue reading →

Posted in California | Tagged , | Comments Off on Noguez Gets More Charges

Coming Attractions: When the IRS Writes New Law When They’re Not Allowed To

Posted on October 22, 2013 by Russ

The IRS is part of the Executive Branch of government. The Executive Branch can’t write law–they can issue regulations based on laws passed by the legislative branch (Congress) and then only when Congress authorizes it. There’s an issue percolating in … Continue reading →

Posted in IRS, Legislation | Tagged | 1 Comment

Sigh: 2014 Tax Season to be Delayed up to Two Weeks

Posted on October 22, 2013 by Russ

Just the news that every tax professional wants to hear: The 2014 tax season (2013 tax returns filed next year) will be delayed one to two weeks. It appears the start date for processing will be sometime between January 28th … Continue reading →

Posted in IRS | Tagged | 1 Comment

One Down, One to Go: DOJ Gets an Injunction, Asks for Another

Posted on October 20, 2013 by Russ

One of the more humorous (to me) aspects of the Loving case was hearing the IRS argue that it has no means of disciplining rogue tax preparers. That’s just not true. If I deliberately prepare a bad return, I can … Continue reading →

Posted in Tax Preparation | Tagged | 2 Comments

Can an Indian Tribe Open a Casino on Non-Tribal Land that the Tribe Purchases?

Posted on October 20, 2013 by Russ

The Bay Mills Indian Community (Tribe) has a reservation on Michigan’s upper peninsula. The tribe decided to open a casino in Vanderbilt, Michigan–over 100 miles from the reservation. Is that legal? The tribe purchased the land and argues that since … Continue reading →

Posted in Gambling, Michigan | Comments Off on Can an Indian Tribe Open a Casino on Non-Tribal Land that the Tribe Purchases?

44 Days

Posted on October 20, 2013 by Russ

44 days isn’t much time. It’s about a month and a half. Yet in the bizarre world of the Affordable Care Act (aka ObamaCare), it’s a big deal. Over the coming weeks I’m going to be looking at various provisions … Continue reading →

Posted in IRS, Legislation | Tagged | Comments Off on 44 Days

Coloradans Have a Chance to Increase Business…In Utah, Idaho and Other Neighboring States

Posted on October 17, 2013 by Russ

It’s an off year for elections, but Coloradans have a chance to help neighboring states: Amendment 66 on the state ballot would increase taxes in Colorado. Colorado’s current income tax is a flat 4.63%; the ballot initiative would increase this … Continue reading →

Posted in Colorado | Comments Off on Coloradans Have a Chance to Increase Business…In Utah, Idaho and Other Neighboring States

When They Can’t Get You for the Real Crime, There’s Always Tax Evasion

Posted on October 17, 2013 by Russ

One of my clients a few days ago asked me jokingly–she’s been a client for years, so I know when she’s joking, “If I had a stream of illegal cash income, do I have to declare it on my tax … Continue reading →

Posted in Nevada, Tax Evasion | Comments Off on When They Can’t Get You for the Real Crime, There’s Always Tax Evasion