Author Archives: Russ

The IRS Scandal Reaches the White House

Posted on May 19, 2013 by Russ

The IRS scandal is now linked into the White House. The Wall Street Journal is reporting that a “senior White House official” was told around April 22nd of the results of the TIGTA audit (note: Link is for subscribers of … Continue reading →

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Elected Officials In Tax Trouble

Posted on May 19, 2013 by Russ

A pair of reports from the South about elected officials (well, in one case former elected officials) in tax trouble. A longtime state representative allegedly took from charities while a former mayor may not have reported interest he received on … Continue reading →

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Receiving Stolen Refunds Leading to ClubFed

Posted on May 19, 2013 by Russ

While the IRS is receiving criticism that’s well justified for the current scandal, IRS criminal investigation and the Department of Justice are slowly increasing their efforts on identity theft. Glenn Powell, Jr. of Alabama found that out. Mr. Powell opened … Continue reading →

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A Planted Question, Targeting, and Early Knowledge

Posted on May 17, 2013 by Russ

Some news came out of the first of what will be many Congressional hearings on the IRS scandal. First, the question that occurred just one week ago and started the controversy–yes, it’s only been one week–was planted. The question came … Continue reading →

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“We Were Just Following Orders”

Posted on May 16, 2013 by Russ

In a story that has not yet been picked up nationally, Fox19 News in Cincinnati reported that the four IRS workers at the supposed core of the story, “simply did what their bosses ordered.” Here’s the video from Fox19: This … Continue reading →

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The Cynics Were Right (The IRS Scandal Gets Official Confirmation)

Posted on May 14, 2013 by Russ

The Treasury Inspector General for Tax Administration’s (TIGTA) report on the targeting of Tea Party and other conservative groups was released late today. If you were to step back in time to May 1st, you would have said that everything … Continue reading →

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Drip, Drip, Drip: The IRS Scandal Continues to Grow

Posted on May 13, 2013 by Russ

The scandal involving the targeting of conservative groups continues to grow with new revelations. ABC obtained a timeline (purportedly from the soon to be released TIGTA report) which shows that the targeting began in 2010, not as Ms. Lerner of … Continue reading →

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Leisure Suit Larry Goes to Tax Court

Posted on May 13, 2013 by Russ

I vaguely remember a video game with the character Leisure Suit Larry. I’ve never played video games (well, perhaps some online poker) so my knowledge of the games is minimal. From Wikipedia, we find that Larry is, …though still somewhat … Continue reading →

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What Can Go Wrong? Nevada Democrats Want to Give Tax Breaks to Movie Industry

Posted on May 12, 2013 by Russ

The Nevada Democratic Party proposed a tax increase on entertainment venues. (It’s doomed, as both Republican Governor Brian Sandoval and Republicans in the state legislature are opposed to it.) To balance it out, Democrats in Carson City are now proposing … Continue reading →

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IRAs and Owning a Business Through an IRA

Posted on May 12, 2013 by Russ

Every so often a client asks me, “Can I fund/purchase/own my business through an IRA.” My general answer is don’t do this! You may be able to do it legally, but there are so many gotchas that it’s rarely worth … Continue reading →

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