Author Archives: Russ

A Companion to Tax Trouble

Posted on March 21, 2010 by Russ

After ranting on health care, it’s time for the lighter side of taxes. That means a visit to that old standby, the escort service, where tax trouble is apparently second nature. Let’s head to Salt Lake City where companionship appeared … Continue reading →

Posted in Tax Evasion | Tagged | 1 Comment

Why I’m Against This Health Care Bill

Posted on March 21, 2010 by Russ

Most tax professionals I know want a limited government and limited taxation. The measure that the House will likely approve tonight will be disastrous in so many ways. First, there are twenty new taxes in the measure. I’ve talked about … Continue reading →

Posted in Legislation | Comments Off on Why I’m Against This Health Care Bill

Unearned Income Tax in New Healthcare Bill Will Impact Gambling

Posted on March 18, 2010 by Russ

The new healthcare legislation contains plenty of taxes. One especially bad one is a new 3.8% tax on unearned income above $200,000. This will have a very bad impact on amateur gamblers. When I last looked at the bill, the … Continue reading →

Posted in Gambling, Legislation | Tagged | 2 Comments

$15 Million in Allegedly Phony Refund Claims

Posted on March 17, 2010 by Russ

I’ve seen returns requesting large tax refunds, but I haven’t personally seen one requesting $2.5 million. However, that’s what Alexander Adams and his son Garrett, of nearby Huntington Beach, requested from the IRS. There’s just a few problems with the … Continue reading →

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What May Really be Behind the 4¢ Fiasco

Posted on March 17, 2010 by Russ

Last night I listened to a presenter from the IRS at the monthly meeting of the Orange County chapter of the California Society of Enrolled Agents. He knew all about the 4¢ fiasco. It appears that there might be a … Continue reading →

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IRS’ Dirty Dozen Tax Scams

Posted on March 17, 2010 by Russ

The IRS released the dirty dozen tax scams today. Joe Kristan has more, and a dirty dozen of bad tax policies.

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Deadline Day: Corporations and S-Corps

Posted on March 15, 2010 by Russ

We’ve hit the first tax filing deadline for 2009 returns. Today’s the day that calendar year corporation and S-corporation tax returns are due. Since almost all S-Corps are calendar year, that means a whole bunch of returns are due today. … Continue reading →

Posted in IRS | Comments Off on Deadline Day: Corporations and S-Corps

Getting Their 2¢ Worth…Twice

Posted on March 13, 2010 by Russ

Let’s head to Sacramento, where one place to get your car washed is Harv’s Metro Car Wash. The IRS decided that Harv’s needed more publicity. Last Wednesday, two IRS agents drove to Harv’s and demanded that the owner pay up … Continue reading →

Posted in IRS | 1 Comment

Spring Ahead…

Posted on March 13, 2010 by Russ

Tonight is not the favorite night for tax professionals: we lose an hour of sleep. Daylight Savings Time begins at 2am; before you head to bed move your clocks up one hour.

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FUBAR Update: The Use Tax Letters Begin to Arrive

Posted on March 10, 2010 by Russ

Yesterday, my first client received his Use Tax Enrollment Letter. At least this client managed to ask me if they had to do anything with it. The letter, dated March 1st, arrived on March 9th. The deadline for filing 2007 … Continue reading →

Posted in California, Sales Tax | Tagged | 2 Comments