Author Archives: Russ

While I Was Out: TIGTA Assails IRS’s ITIN Management and Did Harry Reid Violate the Law?

My vacation is over, and that’s not a good thing (for me). While I was enjoying my time off, our Congresscritters remain in a bickering mood. A close election–and this year’s presidential race will likely be one such race–means that … Continue reading

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Bad News for Medical Marijuana Dispensaries (and Espcially for the Vapor Room)

Yet another important case came up while I am on vacation. Martin Olive operates the Vapor Room, a medical marijuana dispensary in California. He was audited, and the IRS held: – That the dispensary underreported gross receipts; – Could only … Continue reading

Posted in Tax Court | Tagged | 2 Comments

DOJ Settles Civil Claims Against PokerStars & Full Tilt Poker; Full Tilt Balances to be Refunded to US Players; Settlement with Absolute/UB Also Referenced

News came out this morning that the long-rumored deal that would have PokerStars acquire Full Tilt Poker, agree to pay the DOJ $731 million (the rumored amount was $750 million), and pay back players while settling the civil charges it … Continue reading

Posted in Gambling | Tagged , , , | 7 Comments

Vacation

It’s time for my annual 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. I’ll be back … Continue reading

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El Monte Considering Sugary Drink Tax

Many California municipalities face budget issues. One of these cities is El Monte, in the San Gabriel Valley east of Los Angeles. El Monte is looking at a $7 million deficit when a local sales tax expires in 2014. So … Continue reading

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Sales Factor to be Weighed Equally in California

For business entities operating in multiple states, apportioning corporate tax can be difficult. Every state has different rules. This is especially true when dealing with California. While California has a “single-factor” (sales) apportionment that can be used, there’s also a … Continue reading

Posted in California | Tagged | 2 Comments

The Grass Isn’t Always Greener on the Other Side

Here in Las Vegas the local water district really, really tries for everyone to remove their lawns and replace them with “water-friendly” landscapes. Of course, this isn’t an issue in most of the US where rain happens far more frequently … Continue reading

Posted in Tax Evasion | 1 Comment

Two Sets of Books Aren’t Better than One

I’ve found that the one set of books I keep is plenty. Why would I want (or need) a second set of records showing my income and expenses? Of course, I don’t have a Bozo mind, and I don’t think … Continue reading

Posted in Tax Fraud | 1 Comment

Attorney Gets Tax Lien, Then Allegedly Commits Tax Evasion

Lee Gottesman is a bankruptcy attorney in Toms River, New Jersey. He is also facing a heap load of tax troubles for some of the usual reasons. According to the Department of Justice, Mr. Gottesman allegedly created a sub account … Continue reading

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More Municipalities in Trouble in California

Yet another California city may be joining Stockton, Mammoth Lakes, and San Bernardino in bankruptcy. According to the Huffington Post, Compton has $3 million on hand but must pay out $5 million in the next month. The problems are the … Continue reading

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