Author Archives: Russ

HR 2267: Much Ado About Nothing

Posted on July 29, 2010 by Russ

Online poker players and the Poker Players Alliance are celebrating the markup and passage of HR 2267 in the House Financial Services Committee. The measure passed the committee on a vote of 41 yes, 22 no, with one Congresscritter voting … Continue reading →

Posted in Gambling, Legislation | Tagged | Comments Off on HR 2267: Much Ado About Nothing

Rangel Hit With 13 Counts of Ethics Violations

Posted on July 29, 2010 by Russ

Congressman Charlie Rangel (D-NY), the former chairman of the tax writing House Ways and Means Committee, has been charged with 13 ethics violations. The charges include failing to report the rental income on property in the Dominican Republic on his … Continue reading →

Posted in Legislation | Tagged | Comments Off on Rangel Hit With 13 Counts of Ethics Violations

As the Budget Churns (2010 Edition)

Posted on July 28, 2010 by Russ

California’s constitution required a budget be enacted by June 30th. Californians ought to ask June 30th of what year as there are no negotiations in Sacramento right now. Meanwhile, there was some news from Governor Schwarzenegger. He told reporters today, … Continue reading →

Posted in California | Tagged | Comments Off on As the Budget Churns (2010 Edition)

She Can’t Take It With Her

Posted on July 27, 2010 by Russ

I thought I’d seen most of the methods of hiding cash from the taxman, but this short story is a new one. It seems that a British businessman decided that his aunt needed £140,000 to accompany her to the hereafter. … Continue reading →

Posted in Tax Evasion | Comments Off on She Can’t Take It With Her

Relief for Non-Profits

Posted on July 27, 2010 by Russ

I don’t do much work for non-profits, but there was a deadline just weeks ago and important news today. All non-profits are now required to file a version of Form 990. The deadline was May 17th, and non-profits that ignored … Continue reading →

Posted in IRS | Tagged | Comments Off on Relief for Non-Profits

Trading a Cellphone to a Porsche

Posted on July 25, 2010 by Russ

Recently, I saw a short blurb on the local news regarding a teenager who bartered his way from a cellphone to a Porsche. There’s an issue with this, of course, taxes. When you barter goods, you’re supposed to send a … Continue reading →

Posted in IRS | Tagged | Comments Off on Trading a Cellphone to a Porsche

Government to Snipes: It’s Time to Head to ClubFed

Posted on July 25, 2010 by Russ

With the recent ruling from the Court of Appeals denying Wesley Snipes’ appeal of his three misdemeanor tax convictions, the US Department of Justice has asked that Snipes head to ClubFed now. Mr. Snipes’ attorneys plan on responding to this … Continue reading →

Posted in Tax Evasion | Tagged | Comments Off on Government to Snipes: It’s Time to Head to ClubFed

$50 Here, $50 There: $50 From Me and Every Other EA, CPA, and Tax Preparer

Posted on July 23, 2010 by Russ

I received an email yesterday from my local IRS liaison: IRS Issues Proposed Rules Setting Fee for Tax Preparers to Get Unique ID Numbers By Diane Freda The Internal Revenue Service July 21 issued proposed rules (REG-139343-08) establishing a new … Continue reading →

Posted in IRS | Tagged , | Comments Off on $50 Here, $50 There: $50 From Me and Every Other EA, CPA, and Tax Preparer

WordPress 3, Russ 0

Posted on July 23, 2010 by Russ

A ton of stuff has happened over the past week…but I’ve been unable to post.  You see, WordPress “upgraded” to Version 3.0 and locked me out of the blog.  Now, that wasn’t supposed to happen but it did. Unplanned ‘vacations’ … Continue reading →

Posted in Taxable Talk | Tagged | Comments Off on WordPress 3, Russ 0

Snipes Loses Appeal; ClubFed Is on the Horizon

Posted on July 16, 2010 by Russ

Remember Wesley Snipes? The actor was convicted of three misdemeanor tax charges but has been free on bail while waiting for the 11th Circuit Court of Appeals to decide his appeal. Bad news for Mr. Snipes: “After thorough review, we … Continue reading →

Posted in Tax Evasion | Tagged | Comments Off on Snipes Loses Appeal; ClubFed Is on the Horizon