Author Archives: Russ

Revenue Canada Says “Just Say No” to the IRS

Posted on August 24, 2011 by Russ

Last Sunday I linked to two well-written articles by Don Cayo of the Vancouver Sun. One question that has interested individuals residing in Canada who are impacted by FBAR (Form TD F 90-22.1) is whether the Canadian tax authorities would … Continue reading →

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A Question of Wirth

Posted on August 22, 2011 by Russ

Jeffrey Wirth was the sole owner of the Wirth Companies, a Minnesota commercial real estate company. Mr. Wirth developed numerous trophy properties in the Twin Cities, including the Grand Hotel in Minneapolis, the Grand Rios Hotel & Waterpark in Brooklyn … Continue reading →

Posted in Minnesota, Tax Evasion | 1 Comment

Catching Minnows Instead of Whales

Posted on August 22, 2011 by Russ

I like Joe Kristan’s terminology for the IRS’ efforts going after anyone who hasn’t filed an FBAR…even if they don’t really owe any additional tax: Using a shotgun to get jaywalkers. Of course, that’s all part of the kindler, gentler … Continue reading →

Posted in International | Tagged , | 1 Comment

You Didn’t Hear About the Woman Who Gave Birth to Nondecuplets?

Posted on August 22, 2011 by Russ

Well, back in December of 2002 a woman named Norma Coronel allegedly gave birth to nineteen children. I never heard of this, and with the birth supposedly happening in nearby Los Angeles, I’m certain that a woman giving birth to … Continue reading →

Posted in Tax Fraud | 1 Comment

There’s Good and Bad Creativity

Posted on August 22, 2011 by Russ

There’s being aggressive, and there’s being stupid. A. Blair Stover was the latter. As the 8th Circuit Court of Appeals noted, [The IRS]…found that even the most conservative estimate of the tax loss to the government caused by Stover’s schemes … Continue reading →

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Just Make a Check Out to “Bureau of Public Debt”

Posted on August 16, 2011 by Russ

Warren Buffet penned an op-ed piece where he said the wealthy should pay more tax. The Tax Foundation, imho, opinion gets it right where Mr. Buffet gets it wrong. Rather than repeat what the Tax Foundation wrote, I’d like to … Continue reading →

Posted in Legislation | Comments Off on Just Make a Check Out to “Bureau of Public Debt”

Impersonating a CPA and Miscounting His Bankruptcies Lead to Five Years

Posted on August 15, 2011 by Russ

Nick Holquin, Jr. was a tax preparer in San Jose. He decided to invest in a Mississippi land development project. When the economy tanked, the project did, too. Mr. Holquin was able to get twelve individuals to loan him money … Continue reading →

Posted in Tax Fraud | 1 Comment

Cost of Government Day

Posted on August 15, 2011 by Russ

Americans for Tax Reform released their study on “Cost of Government Day.” This study looks at for an average individual in each state, how long you are working for the Government rather than yourself. On average, you’re working for the … Continue reading →

Posted in Federal Budgeting, Legislation | Comments Off on Cost of Government Day

Perhaps $1 Million a Rider

Posted on August 15, 2011 by Russ

How many individuals want to ride high-speed rail through California’s Central Valley? That’s not an academic question, as that will be the first leg of the line built by the California High-Speed Authority. The line will run from Shafter (population … Continue reading →

Posted in California, Federal Budgeting | Tagged | Comments Off on Perhaps $1 Million a Rider

California Revenues Below Expectations; State Likely Looking at a $5 Billion Deficit

Posted on August 11, 2011 by Russ

I’m shocked, just shocked to find out that the Bronze Golden State is already falling behind on collections. That was sarcasm, of course. In June, California collections were $350 million below the budgeted amount. In July, they were $539 million … Continue reading →

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