Author Archives: Russ

I am not a Crook

Posted on October 16, 2012 by Russ

A friend sent me a link to a news story; she headlined it in her email, “Russell Fox caught as tax evader; must repay 200,000.” And then I took a look at the story: A fish and chip shop owner … Continue reading →

Posted in Tax Evasion | 1 Comment

On Death, Taxes, and Estate Planning

Posted on October 16, 2012 by Russ

Today is October 16th. I just had a client fax me his signature documents, hoping that a day late isn’t a dollar behind. He’s getting a refund, so it won’t be that big of a deal. October 15th and 16th … Continue reading →

Posted in Estate Tax | Comments Off on On Death, Taxes, and Estate Planning

The End of Procrastination Season Is Upon Us

Posted on October 13, 2012 by Russ

Monday is October 15th. Individual tax returns on extension are due. What do you do if you haven’t done anything except procrastinate? It’s time to file your return. The IRS website has all the forms. Dig up all of your … Continue reading →

Posted in IRS | Tagged , | 1 Comment

Up in Flames

Posted on October 13, 2012 by Russ

Back in 2005, a load of estimated payments ended up “swimming with the fishes” when a driver of a truck went off the San Mateo Bridge into the San Francisco Bay. Believe it or not, a similar incident happened last … Continue reading →

Posted in Uncategorized | 1 Comment

Why I’m Happy to be in Nevada and Not in California

Posted on October 9, 2012 by Russ

The Tax Foundation released its 2013 State Business Tax Climate Index today. Last year, I was a California resident; in the 2012 Index, California ranked 48th out of 50 states. I now reside in Nevada, which ranks 3rd out of … Continue reading →

Posted in California, Michigan, Nevada, New Jersey, New York | Tagged , | 1 Comment

Escort Service Operator Charged with Structuring

Posted on October 8, 2012 by Russ

Here in Las Vegas, escort services and strip clubs are big business. They’re also (generally) cash businesses. A joint police task force has been looking into the operations. The local police are concerned about prostitution (it is illegal in Clark … Continue reading →

Posted in Las Vegas | Tagged , | 2 Comments

IRS CAF Unit Fax Numbers Have Changed

Posted on October 6, 2012 by Russ

The IRS is implementing an inbound efax system. Because of this, the CAF Unit (Centralized Authorization Files) fax numbers have changed. For non-tax professionals, the CAF Unit handles IRS Power of Attorney and Tax Information Authorization forms. For tax professionals, … Continue reading →

Posted in IRS | 3 Comments

Gillette Decision Upheld, But Beware

Posted on October 6, 2012 by Russ

The California Court of Appeals for the First District upheld its earlier ruling in Gillette v. Franchise Tax Board. This means that for tax years from 1993 – 2011 a three-factor formula for apportioning income is valid. Earlier, the same … Continue reading →

Posted in California | 1 Comment

The IRS Takes the Weekend Off

Posted on October 6, 2012 by Russ

Well, sure, Monday is Columbus Day and a federal holiday. That doesn’t bother me. However, the problem is that with just nine days left before the extension deadline, the IRS shuts off all of its computer systems for a scheduled … Continue reading →

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208 Chances to Commit Tax Evasion and Other Stories

Posted on September 30, 2012 by Russ

There are good schemes and bad schemes. Today, I’m focusing on the particularly stupid. From McClellandtown, Pennsylvania comes the story of Sherman Friend. Mr. Friend just knew that the number “1127” would come up in the lottery. He bought 208 … Continue reading →

Posted in Tax Evasion, Tax Fraud | 1 Comment