Author Archives: Russ

The 2021 Tax Offender of the Year

Posted on December 31, 2021 by Russ

It’s time once more for that (not really) most prestigious of prestigious awards, the Tax Offender of the Year.  One year I’ll find that I don’t have many deserving winners (probably the year after I retire); however, there were plenty … Continue reading →

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2022 State Business Tax Climate Index: Bring Me the Usual Suspects!

Posted on December 17, 2021 by Russ

Yesterday, the Tax Foundation released its list of the business tax climate in the 50 states.  Not much has changed, and for those in New York, New Jersey, and California wondering why businesses are moving to Florida and Nevada, you … Continue reading →

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Dear IRS: What Part of Deceased Didn’t You Understand?

Posted on December 16, 2021 by Russ

Last year, one of our clients (call him John Smith) passed away.  I had both a Power of Attorney and Tax Information Authorizations on file with the IRS for this taxpayer.  One of the rules about representation is that when … Continue reading →

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Nominations Due for 2021 Tax Offender of the Year!

Posted on December 14, 2021 by Russ

In just over two weeks it will be time for me to hand out the annual Tax Offender of the Year award.  I suspect that once again there are too many deserving nominees.  If you have a suggestion, feel free … Continue reading →

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IRS Appears to Add Requirement for Individuals to Include Statement on PPP Loan Forgiveness for 2021 Personal Returns

Posted on December 6, 2021 by Russ

On Friday, the IRS released draft instructions for Form 1040.  Buried on page 23 of the instructions (page 24 of the PDF) is the following: Forgiveness of Paycheck Protection Program (PPP) Loans The forgiveness of a PPP Loan creates tax-exempt … Continue reading →

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The IRS Can’t Figure Out Where to Apply an Electronic Payment…Where the IRS Was Told Where to Apply It

Posted on November 30, 2021 by Russ

My client received a letter from the IRS dated November 22, 2021: Taxpayer identification number: [redacted] Tax Period(s): Dec. 31, 2018 Form: 1040 We received a payment of $2,002.00 on Oct. 08, 2020. We don’t have enough information to apply … Continue reading →

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The 2021 Real Winners of the World Series of Poker

Posted on November 18, 2021 by Russ

Last night, the Main Event of the World Series of Poker concluded.  (While there are still a few events to be decided in the WSOP, this is the event that everyone thinks of as the big one.)  Before  I get … Continue reading →

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Why Did the WSOP Change the Rules on Lammers?

Posted on November 16, 2021 by Russ

With the World Series of Poker (WSOP) winding down (the Main Event champion will be crowned Wednesday evening–and, yes, I will have my customary post on the real winners of the WSOP on Thursday), an issue arose late in the … Continue reading →

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IRS: Per Diem Is Food Provided by Restaurants

Posted on November 16, 2021 by Russ

For tax years 2021 and 2022 taxpayers are allowed to deduct 100% of business meals provided by restaurants (per § 274(n)(2)(D) of the Internal Revenue Code).  One question that I had was how the per diem would be treated. Taxpayers … Continue reading →

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IRS’s “ID.me”: Not Ready for Prime Time

Posted on November 15, 2021 by Russ

This afternoon, I needed to upload an IRS Power of Attorney form to the IRS’s CAF Unit.  The IRS advised me (on the login screen) that I should obtain an account on ID.me. The IRS rightly wants to make sure … Continue reading →

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