Author Archives: Russ

Former Bell Administrator Pleads Guilty to Tax Fraud; That’s the Least of His Problems

Posted on December 13, 2013 by Russ

Former Bell (California) City Administrator Robert Rizzo pleaded guilty yesterday to two counts of tax fraud (conspiracy and filing a false income tax return). Mr. Rizzo, though, will likely never directly serve any time at ClubFed for those counts. Why? … Continue reading →

Posted in California | Tagged | 1 Comment

Bank Notice on IRS Tax Refund Fraud

Posted on December 9, 2013 by Russ

The IRS has been making noises that they are more aggressively pursuing identity theft and tax refund fraud. My bank (Bank of the West) sent me a notice on these issues. (I assume it was sent to all Bank of … Continue reading →

Posted in IRS | Tagged | 1 Comment

IRS Interest Rates Unchanged for 1st Quarter 2014

Posted on December 9, 2013 by Russ

The IRS announced today that interest rates for the first quarter of 2014 will be unchanged: – 3% for overpayments (2% for corporations); – 3% for underpayments; – 5% for large corporate underpayments; and – 0.5% for the portion of … Continue reading →

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Vacation

Posted on December 1, 2013 by Russ

It’s time for my fall vacation. If something earth-shattering in the tax world happens while I’m relaxing, I’ll take time out to post on it. Otherwise, enjoy the fine bloggers listed in the blogroll on the right. In any case, … Continue reading →

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Inherited IRAs and Bankruptcy Heading to the Supreme Court

Posted on December 1, 2013 by Russ

Can creditors go after an inherited IRA in bankruptcy? The Supreme Court will examine that issue next Spring when they hear arguments in Clark v. Rameker. The Supreme Court will resolve a split in the Courts of Appeal (the 7th … Continue reading →

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Gilbert Hyatt In New York

Posted on November 27, 2013 by Russ

The decision on the Gilbert Hyatt appeal here in Nevada has still not come out. However, when I did my weekly check I discovered that the Gilbert Hyatt case has now reached New York State. The entire Gilbert Hyatt case … Continue reading →

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Don’t Try This at Home

Posted on November 24, 2013 by Russ

Thomas Thorndike was a tax preparer in Waterbury, Connecticut. I use “was” because earlier this year he was sentenced to six years at ClubFed for cheating on his own taxes and for helping clients obtain refunds using false deductions. Here’s … Continue reading →

Posted in IRS, Tax Preparation | 1 Comment

Nifty Scheme Lands Five at ClubFed

Posted on November 24, 2013 by Russ

Last year I reported on the inventive scheme used by the owners of Nifty Fifty’s, a Philadelphia area restaurant chain. Back in 1986, the restaurant was founded. The chain is themed on the 1950s; the owners apparently longed for the … Continue reading →

Posted in Tax Evasion | Tagged | 2 Comments

It’s All Greek to Me

Posted on November 21, 2013 by Russ

In reading through the poker world today, news from Greece pushed to the forefront: The Greek government has implemented an up to 20% “Player Withholding Tax” on online gambling. It doesn’t sound like much, but like everything the devil is … Continue reading →

Posted in Gambling, International | Tagged | 1 Comment

Pass the Popcorn, Please, II

Posted on November 20, 2013 by Russ

As ObamaCare and its troubles dominate the news, lurking in the background is the IRS scandal. The Chief Counsel of the American Center for Law and Justice (ACLJ) wrote an op-ed on FoxNews that noted the lawsuit filed by the … Continue reading →

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