Author Archives: Russ

Is the Tax Haven Era Ending?

Posted on September 1, 2009 by Russ

Angel Gurria argues in the Guardian that it is, and bank secrecy will soon be a thing of the past. He notes, correctly, that even Liechtenstein has been signing agreements. Indeed, the principality announced today that it and Germany have … Continue reading →

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Wrangling Rangel

Posted on August 30, 2009 by Russ

Congressman Charlie Rangel (D-NY) remains in trouble. But will anything come of it? Mr. Rangel is Chairman of the House Ways and Means Committee, and is a powerful force among Democrats in Washington. However, his tax abuses are legion and, … Continue reading →

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Yet Another Trust Fund Tax

Posted on August 30, 2009 by Russ

If you’re an executive of a company and having monetary troubles, it’s tempting to both hide that fact and to not pay your “Trust Fund” taxes. Trust Fund taxes are the payroll taxes you collect (from withholding) and match and … Continue reading →

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Another Survivor Tall Tale

Posted on August 30, 2009 by Russ

No, I’m not going to have anything in this post about Richard Hatch. Instead, we’ll head to the Great White North (Canada) where an entrepreneur with a checkered past decided to try his hand at developing a Survivor show. “David … Continue reading →

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Two Years at ClubFed for ex-IRS District Director

Posted on August 27, 2009 by Russ

Jesse Cota was a District Director for the IRS. After he left the IRS he went to work for Renaissance, the Tax People. That wasn’t a good choice of employer. It may have been lucrative financially for Mr. Cota for … Continue reading →

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Don’t Brag When You’re Committing A Crime

Posted on August 27, 2009 by Russ

One of my favorite websites is the Bozo Criminal of the Day. Every so often we get to see a story about a particular dumb criminal who decides to do something dumb: From Papillion, Nebraska, comes the story of a … Continue reading →

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Don’t Worry, We’re From the Government

Posted on August 27, 2009 by Russ

Perhaps no scarier line has ever been uttered than the title of this post. And if ObamaCare passes, there will be yet more fun for those of us in the tax profession. Declan McCullagh is reporting that the new ObamaCare … Continue reading →

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Californians, Your Taxes Just Increased

Posted on August 27, 2009 by Russ

California’s tax brackets are indexed for inflation. Normally, the marginal tax brackets go up each year. But 2009 is anything but a normal year. The Franchise Tax Board announced the new brackets, and deflation is the name of the game. … Continue reading →

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Taxes Are For Little People

Posted on August 27, 2009 by Russ

That’s the gist of the famous line uttered by Leona Helmsley. She ended up spending time at ClubFed. It appears that philosophy is shared by the Chairman of the House Ways and Means Committee, Charles Rangel (D-NY). Mr. Rangel amended … Continue reading →

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California, Nevada, and Texas

Posted on August 26, 2009 by Russ

A California State Assemblyman is upset with the ads that the Nevada Development Corporation is running. California is golden, and Nevada is silver. Why would any business leave? Here’s Assemblyman Jose Solorio’s (D-Anaheim) response: Before I comment on that, there’s … Continue reading →

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