Author Archives: Russ

It’s a Tax: What ObamaCare Means for You

Posted on July 1, 2012 by Russ

Unless you were shipwrecked on a deserted island you know that the Supreme Court ruled that the Affordable Care Act, aka ObamaCare, is a legal “tax.” Back in February 2010 I wrote about the taxes in ObamaCare. Let’s run down … Continue reading →

Posted in Legislation | Tagged | 2 Comments

Lauryn Hill Pleads Guilty to Tax Evasion Charges

Posted on July 1, 2012 by Russ

Yet another music star has tax troubles. Singer Lauryn Hill pleaded guilty to failing to file tax returns on more than $1.5 million she had earned from 2005 through 2007. Ms. Hill’s attorney indicated that she plans on paying the … Continue reading →

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Now He Gets to Watch Paint Dry

Posted on July 1, 2012 by Russ

Willard Douglas Kerr of Phoenix operated DK Coatings, LLC, a painting and wall covering company in Manassas, Virginia. Mr. Kerr had many employees, and the business was apparently successful. Mr. Kerr also had some pressing needs at home. He needed … Continue reading →

Posted in Payroll Taxes | Comments Off on Now He Gets to Watch Paint Dry

Jerry Brown Dreams of a Tax Increase and Other California Tidbits

Posted on July 1, 2012 by Russ

Quite a few things to report on from the Bronze Golden State. First, the budget was signed by Governor Jerry Brown. The budget only “works” if voters approve the new taxes he proposed and that will be on the November … Continue reading →

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eFile an FBAR? Use Internet Explorer, Not Firefox or Chrome

Posted on June 28, 2012 by Russ

Some of my clients have had problems efiling the FBAR on the BSA system. The FINCEN support group have confirmed that the system works only using Internet Explorer. So if you need to file an FBAR, use Internet Explorer, not … Continue reading →

Posted in International | Tagged | 1 Comment

IRS Announces New Procedure on RRSPs; Jaywalkers Apparently No Longer Subject to Firing Squad

Posted on June 27, 2012 by Russ

The IRS announced yesterday a new procedure to deal with “low compliance risk” taxpayers who have innocently not filed FBARs or tax returns noting their RRSPs (a Canadian retirement account similar to a 401(k) or IRA). While the full details … Continue reading →

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Can Online Gambling Help Solve State Debt Woes?

Posted on June 25, 2012 by Russ

That’s the question this FoxBusiness report asks. (I am quoted in the story.) Of course, convincing politicians that enacting something that the public actually wants and that brings in tax revenues that the public wants to pay should be a … Continue reading →

Posted in Gambling | Tagged | Comments Off on Can Online Gambling Help Solve State Debt Woes?

Stockton Likely to File Chapter 9 Bankruptcy This Week

Posted on June 25, 2012 by Russ

I used to work in Stockton, California. It’s a city east of the San Francisco Bay Area in central California. It’s in the San Joaquin Valley, and in recent years grew into a bedroom community for the Bay Area. And … Continue reading →

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49ers Sacked by Santa Clara County

Posted on June 25, 2012 by Russ

The San Francisco 49ers want a new stadium instead of playing at Candlestick Park. And in 2010 voters in Santa Clara approved the financing of a stadium. However, a monkey wrench was thrown into the plans last week when Santa … Continue reading →

Posted in California, Property Taxes | Tagged | 1 Comment

Charging Money for Canadians to Commit US Tax Fraud Doesn’t Work Well

Posted on June 24, 2012 by Russ

Have I got a deal for you! Did you know that even if you have never submitted a tax return in the US that you can get a refund? Yes, thanks to the magical (and mythical) bank account sitting at … Continue reading →

Posted in Tax Fraud | 1 Comment