Author Archives: Russ

“An Excercise in Bureaucratic Futility”

Posted on July 19, 2013 by Russ

Earlier this week I mentioned to you the ridiculous Patient Centered Outcomes Trust Fund Fee that HRAs must pay. I called it the most ridiculous tax ever. Jason Dinesen posts a real example of what he went through for one … Continue reading →

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Self-Proclaimed First Lady of Tax Fraud Gets 21 Years at ClubFed

Posted on July 18, 2013 by Russ

Let me give some helpful hints to anyone who is thinking of engaging in a life of crime. First, don’t brag about it to others. Live your life in a nice peaceful way and blend in. Second, if you do … Continue reading →

Posted in IRS, Tax Fraud | Tagged | 1 Comment

The IRS Is Not Taking July 22nd Off

Posted on July 16, 2013 by Russ

Earlier this year, the IRS announced they would be taking five furlough days due the sequester. The next of these furlough days was supposed to be Monday, July 22nd. The IRS announced today that the July 22nd furlough will not … Continue reading →

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The Most Ridiculous Tax Ever

Posted on July 15, 2013 by Russ

Suppose you have a Section 105 Health Reimbursement Arrangement. Do you know that you have a tax deadline approaching in just 16 days? Jason Dinesen has an excellent post on this. A Health Reimbursement Arrangement (HRA) is a common method … Continue reading →

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I’m Shocked to Find Another Enrolled Preparer Committed Tax Fraud

Posted on July 14, 2013 by Russ

Not really. The IRS would like the public and Congress to believe that if every preparer were regulated by the IRS that preparer tax fraud would magically vanish. The reality is that as long as money is involved in an … Continue reading →

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Microsafted to ClubFed

Posted on July 14, 2013 by Russ

Matthew Taylor is heading to ClubFed for a 7 1/2 year of vacation from his previous job as an art thief and tax evader. It’s what he did to try to hide his crime that makes this case interesting. First, … Continue reading →

Posted in Tax Evasion | Tagged , | 1 Comment

Ohio Back on the Bad List for Gamblers

Posted on July 12, 2013 by Russ

When Ohio legalized casino gambling in 2010, they also added a deduction for gambling losses effective January 1, 2013. Taxdood reported that the new budget signed into law repeals this deduction. He believes it’s retroactive; I can confirm that it … Continue reading →

Posted in Gambling, Ohio | 1 Comment

Foreign Gamblers Get Equal Footing

Posted on July 10, 2013 by Russ

The United States Court of Appeals for the District of Columbia ruled yesterday that foreign gamblers should be treated similar to US citizens and residents. The issue has to do with a basic idea in gambling: Should gamblers be taxed … Continue reading →

Posted in Gambling, International | 1 Comment

California Considering Conforming to Mortgage Debt Relief for One More Year

Posted on July 10, 2013 by Russ

The California Senate passed SB30 in June. This measure would extend California’s mortgage debt relief for one more year (through 2013). Note that the California mortgage debt relief is more stringent (in qualifications) than federal. The measure has been sent … Continue reading →

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A Gambler Gambles to Tax Court…and Loses

Posted on July 9, 2013 by Russ

With the World Series of Poker main event in progress here in Las Vegas, the Tax Court coincidentally released a decision of a former “Bracelet” winner. (If you win any event at the WSOP, you not only win cash, but … Continue reading →

Posted in Gambling, Tax Court | 1 Comment