Author Archives: Russ

I’m Shocked that Another Adult Entertainment Exec Cheated On His Taxes

Posted on January 11, 2012 by Russ

I’m just shocked, shocked mind you, to find out that yet another individual in the adult entertainment industry didn’t tell the truth on his tax return. Well, not really as there might just be a pattern here…. From my old … Continue reading →

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The IRS Gives Helpful Tips for Choosing a Tax Professional

Posted on January 6, 2012 by Russ

The IRS, as we previously noted, now has a YouTube channel. Here’s their latest video on choosing a tax professional: You can also read their suggestions in this article:: Check the person’s qualifications. Ask if the preparer is affiliated with … Continue reading →

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We’re Off With a Bang: It’s the Politician Arrest of the Week!

Posted on January 5, 2012 by Russ

There’s nothing like starting 2012 on the right foot. Let’s head to our nation’s capital where City Councilman Harry Thomas, Jr. has something more to worry about than his reelection campaign. In December, the FBI & IRS raided Mr. Thomas’ … Continue reading →

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2011 Tax Offender of the Year

Posted on December 31, 2011 by Russ

It’s time again to be considered for that most prestigious of awards, the Tax Offender of the Year. To be considered for the Tax Offender of the Year award, you must do more than cheat on your taxes. It has … Continue reading →

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Norway Demands $30 Million from Absolute Poker

Posted on December 28, 2011 by Russ

Absolute Poker, the now more-or-less defunct company that included UltimateBet, has been hit with a 180 million Norwegian Kroner tax bill ($29.9 million) by the Norwegian tax agency, Skatteetaten. The tax agency accuses Absolute Poker of running 430 million Kroner … Continue reading →

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IRS Acquiesces to Decision in Mayo v. Commissioner

Posted on December 27, 2011 by Russ

The IRS has acquiesced to the decision in Mayo v. Commissioner; this decision will be published in the January 17, 2012 issue of the Internal Revenue Bulliten according to Linda Beale. The Mayo case allows a professional gambler to deduct … Continue reading →

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Nominees Due for Tax Offender of the Year

Posted on December 23, 2011 by Russ

With just one week left in 2011, it’s time again for anyone to submit a nominee for the Tax Offender of the Year. To be considered for the Tax Offender of the Year award, the individual must do more than … Continue reading →

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Casualty Losses, Constructive Receipt and Full Tilt Poker

Posted on December 21, 2011 by Russ

I’ve been asked numerous times over the past few weeks one question by poker players: “Can I take a casualty loss on the money I have tied up on Full Tilt Poker?” The answer is a definite maybe, but even … Continue reading →

Posted in Gambling, IRS | Tagged | 8 Comments

Psychic Help Wasn’t Good for Clients, but Was Great for the Psychic…Until Caught

Posted on December 18, 2011 by Russ

I’ve been told that a psychic is supposed to know and foretell the future. Nancy Marks was a psychic in Lafayette, Colorado. She had a unique–and quite illegal–method of obtaining income. She warned her clients that there was evil lurking … Continue reading →

Posted in Colorado, Tax Evasion | 1 Comment

We’re Back, But Will the Sales Tax Deduction Come Back in 2012?

Posted on December 18, 2011 by Russ

I’ve moved into my new office, and everything is more-or-less running correctly in my new office in Las Vegas. There’s a new fax number (yes, there’s a real fax machine in my office) for those who need to send me … Continue reading →

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