Author Archives: Russ

California Cigarette Tax Voted Down

Posted on June 24, 2012 by Russ

Proposition 29 on the June ballot in California would have increased cigarette taxes in the state by $1 per pack. On Friday, supporters officially threw in the towel and conceded defeat. Though there are 110,000 votes still to be counted, … Continue reading →

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Indians Win One Against New York

Posted on June 24, 2012 by Russ

No, it’s not the Cleveland Indians beating the Yankees; rather, the St. Regis Mohawk Tribe beat the New York Tax Department. After the New York cigarette tax on name-brand cigarettes sold on Indian lands some tribes decided to make their … Continue reading →

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FBAR Due Next Saturday, June 30th

Posted on June 24, 2012 by Russ

Anyone with $10,000 in one or more foreign financial accounts (determined by taking the maximum balance of each account at any time during the year, summing the maximums, and comparing the sum to $10,000) must file Form TD F 90-22.1 … Continue reading →

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Corruption Alleged at Canada Revenue Agency

Posted on June 19, 2012 by Russ

There may be some shenanigans happening north of the border. Canada’s Globe and Mail reports that the Royal Canadian Mounted Police are investigating officials at Canada Revenue Agency over a a $1 Million alleged kickback scheme. The allegations revolve around … Continue reading →

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Tribal Casino in Michigan Might be Illegal

Posted on June 18, 2012 by Russ

Back in 1999, the Match-E-Be-Nash-She-Wish Band of Pottawatomi Indians (thankfully, they are also known as the Gun Lake Tribe–a much easier mouthful to pronounce) were recognized as an Indian tribe. They asked the Secretary of Interior to acquire property to … Continue reading →

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Tournament Deals at the WSOP: A Primer

Posted on June 17, 2012 by Russ

This past week I received the following question: I was playing in the daily Deep Stack tournament at the Rio during the World Series of Poker. With seven players left we decided to chop the prize pool, but Caesar’s [the … Continue reading →

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California Dreamin’

Posted on June 17, 2012 by Russ

The California legislature passed yet another Bad Budget™ that used gimmicks and a hoped for tax increase this fall to balance the budget. The budget passed on a party-line vote with no Republican support. Governor Jerry Brown has not yet … Continue reading →

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Liechtenstein Bank Appears Ready to Cooperate with IRS

Posted on June 10, 2012 by Russ

I’ve written about bank secrecy in Liechtenstein before. One Liechtenstein bank, Liechtensteinische Landesbank AG (LLB), has received a “group request” for information. The IRS wants information on accounts with $500,000 or more from 2004 or later. If you happen to … Continue reading →

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Nifty Fifty’s Owners Facing 50 at ClubFed

Posted on June 10, 2012 by Russ

Last month I reported on the Nifty Fifty’s chain of restaurants in Philadelphia. As expected, an indictment on tax charges was coming. And it appears that a plea deal did occur, as all five defendants pleaded guilty on Friday to … Continue reading →

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Tony Gwynn in Tax Trouble

Posted on June 10, 2012 by Russ

Baseball Hall of Fame member Tony Gwynn has tax troubles. The former San Diego Padre and current head baseball coach at San Diego State University owes more than $400,000 in back taxes according to a report in the San Diego … Continue reading →

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