Author Archives: Russ

Hiding a Golf Course and Millions

Posted on January 30, 2012 by Russ

It’s one thing to hide a few dollars. It’s quite another to hide a few million dollars. The IRS’s assault on UBS, the Swiss bank, has reaped some more indictments. This time, three individuals involved in venture capital are alleged … Continue reading →

Posted in Tax Fraud | Tagged , , , | 2 Comments

Out of the Swamplands

Posted on January 29, 2012 by Russ

Over the years, I’ve referred to New Jersey as the swamplands. Their politics, corruption, and tax policies left a lot to be desired. But something unusual happened in 2010: Chris Christie, a Republican, was elected governor in the historically Democratic … Continue reading →

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IRS Street Addresses (Updated)

Posted on January 29, 2012 by Russ

Most taxpayers use the Postal Service to send their returns to the IRS. However, you can use Federal Express or UPS. The problem is the IRS hides the street addresses of their service centers on their website if you need … Continue reading →

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Tax Foundation Releases 2012 Business Tax Climate Index; California, New York and New Jersey at the Bottom

Posted on January 25, 2012 by Russ

The Tax Foundation released their 2012 State Business Tax Climate Index today. And it was no surprise to see the bottom three composed of California, New York and New Jersey. These states have high taxes overall (California adds high regulatory … Continue reading →

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Illinois: Proving Laffer Correct

Posted on January 22, 2012 by Russ

Arthur Laffer popularized the Laffer curve. The father of Supply Side Economics noted that in many cases, increasing the tax rate decreases the amount of tax revenues. It appears that Illinois is proving Dr. Laffer correct. Moody’s just downgraded Illinois’ … Continue reading →

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Heaven Can’t Wait

Posted on January 22, 2012 by Russ

My understanding is that we can’t take it with you: Our worldly possessions won’t be with us in the hereafter. One Florida man believes he is already a resident there, and is thus exempt from trivialities such as the income … Continue reading →

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Browns’ Convictions Upheld

Posted on January 20, 2012 by Russ

Tax protesters Edward and Elaine Brown were convicted in 2007 of tax evasion. They were sentenced to spend some time at ClubFed. Instead of reporting to prison, they decided to barricade themselves in their New Hampshire home. After a stand-off … Continue reading →

Posted in Tax Evasion | 1 Comment

It Pays to Read the Lease

Posted on January 19, 2012 by Russ

Today the Tax Court looked at whether a rental was passive or active. But there was a major difference from most such cases: The taxpayer claimed his lease was passive while the IRS thought it was not passive. Most of … Continue reading →

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A Good Way to Get to ClubFed: Finance Porn Distribution and Don’t Report the Income

Posted on January 18, 2012 by Russ

If you want to paint a recipe for heading to ClubFed, Carolynne Tilga of Santa Fe, New Mexico couldn’t do it any better. First, begin by investing in a business that’s likely illegal: Distributing pornography over the Internet. Yes, the … Continue reading →

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Illinois Mayor Sentenced for Not Filing Tax Returns

Posted on January 18, 2012 by Russ

Joseph Cook has been the mayor of Channahon, Illinois since 2003 (Channahon is southwest of Chicago). Given Illinois politics, he has likely helped his reelection campaign by admitting he committed a crime. He was sentenced yesterday to two years probation … Continue reading →

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