Author Archives: Russ

Do IRS Employees Know the Postmark Rule?

So what’s the postmark rule?  The IRS notes this on their website: Your return is considered filed on time if the envelope is properly addressed, has enough postage, is postmarked, and is deposited in the mail by the due date. … Continue reading

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When Bad Recordkeeping Helps You (And Bad News for Some Canadian Professional Poker Players)

As we previously reported, the Canada Revenue Agency (CRA) thought that Jonathan Duhamel, the winner of the Main Event of the World Series of Poker (WSOP) in 2010 was a professional gambler, and that he conducted himself as a professional … Continue reading

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The Real Winners of the 2022 World Series of Poker

Yesterday afternoon, the 2022 Main Event of the World Series of Poker concluded. First, congratulations to Caesars for putting on a mostly great series at the Paris and Bally’s casinos on the Strip. This was the first year the events … Continue reading

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Is It One Penalty of $10,000 or Multiple Penalties of $10,000?

Suppose you are a resident of a foreign country–say, Romania–and you have foreign financial accounts.  You need to file the FBAR (Report of Foreign Bank and Financial Accounts) to tell the Financial Crimes Enforcement Network (FINCEN) what foreign accounts you … Continue reading

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Standard Mileage Rate Increases Beginning July 1st

The IRS announced today that the standard mileage rate for the second half of 2022 will be $0.625/mile, up from $0.585/mile.  As the IRS notes: In recognition of recent gasoline price increases, the IRS made this special adjustment for the … Continue reading

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Contributing to the IRS’s Paper Backlog

A client of ours has filed Form 2553 three times to elect S-Corporation status.  The first time, his attorney sent the form to the IRS.  The second time, my client mailed the form (right before the pandemic began).  The third … Continue reading

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Depressing

TIGTA (the Treasury Inspector General for Tax Administration) came out this morning with its interim report on the 2022 Tax Filing Season.  I would love to report statistics that make me feel warm and fuzzy; instead, we’re left with more … Continue reading

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2022 Tax Season: The Tax Season From Hell (Part 2)

In Part 1 of this series we looked at what went wrong with the IRS.  (That post might have been shorter if I had written what went right.)  Today, let’s look at what should be done by Congress and the … Continue reading

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We’re Under Attack!

This afternoon, I was answering email and I accidentally clicked on Outlook’s “File Information.”  I happen to notice that the last login was from Buffalo, New York.  I’m just 3,000 miles away in Las Vegas, so I immediately sent a … Continue reading

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2022 Tax Season: The Tax Season From Hell (Part 1)

Mr. Murphy says, what can go wrong will go wrong.  This was definitely the case for the 2022 Tax Season.  In this four-part series, we’re going to cover IRS and government (Congress and the President) failures, our failures, and what … Continue reading

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