Author Archives: Russ

$200,000,000 Refund Letters Come in Ohio, but the Refunds Won’t

Posted on March 15, 2011 by Russ

Some things are too good to be true. Imagine receiving a letter in the mail saying you will receive an income tax refund of $200,000,000. Yes, $200 million. Well, 9,701 taxpayers in the Buckeye State got such letters. As first … Continue reading →

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Will California Start Their Own Online Poker Sites?

Posted on March 14, 2011 by Russ

Unless you’ve been under a rock, you know that California is broke. The budget deficit for next year is projected at somewhere between $25 and $30 billion. That has caused legislators in the Bronze Golden State to look at online … Continue reading →

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Corporate Filing Deadline Tuesday

Posted on March 14, 2011 by Russ

The deadline for calendar year corporations to file their federal (and most state) tax returns is Tuesday, March 15th. This applies to both C-Corporations (filing Form 1120) and S-Corporations (filing Form 1120S). If you’re not ready to file, avoid penalties, … Continue reading →

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More Trouble for Marijuana Dispensaries from the IRS

Posted on March 14, 2011 by Russ

Back in 2007, the Tax Court ruled that a non-profit that supplied medical marijuana to terminally ill patients could not deduct business expenses related to that activity but could deduct the expenses related to their counseling and caregiving activities. It … Continue reading →

Posted in California, IRS | Tagged | 1 Comment

He’s Back!

Posted on March 13, 2011 by Russ

Just when you think you can finally put Richard Hatch out of mind, he fumbles back into the spotlight. Mr. Hatch is, of course, the winner of the very first Survivor; he thought that the $1 million he won on … Continue reading →

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Stanford Athletes Sacked

Posted on March 11, 2011 by Russ

As a graduate of the University of California, Berkeley, it’s always nice to see our Bay Area rival, Stanford, suffer some ignominious defeat. Courtesy of the TaxProfBlog, we discover that Stanford maintained for nearly a decade a list of “easy … Continue reading →

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The Giants Face the Taxman

Posted on March 7, 2011 by Russ

Football season is over, but the New York Giants are still in a fight. The Giants faced off against East Rutherford, New Jersey in state tax court last week. The battle is over whether or not the Giants should pay … Continue reading →

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Wesley Snipes Petitions the Supreme Court

Posted on March 7, 2011 by Russ

Wesley Snipes has submitted his petition for writ of certiorari to the US Supreme Court. Mr. Snipes would like to have his conviction reversed. As best as I can determine, Mr. Snipes is arguing that the case shouldn’t have been … Continue reading →

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IRS Publishes Annual List of Frivolous Tax Arguments

Posted on March 7, 2011 by Russ

As many times as I say don’t submit a frivolous tax argument to the IRS, some Bozo will do so. For those Bozos who want to try something new, the IRS has kindly published its list of frivolous tax arguments … Continue reading →

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Time Was On His Side

Posted on March 2, 2011 by Russ

Sometimes I have to be careful about jumping to conclusions. When I first looked at Charlton v. Commissioner I expected the taxpayer to lose. It wasn’t hard to jump to that conclusion when I read, Throughout his career, Jeffrey pursued … Continue reading →

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