Author Archives: Russ

Deadline Day

Tuesday, September 15th is a big tax deadline. 3rd quarter estimated payments for individuals are due; 3rd quarter estimated payments for corporations are due; Calendar year corporate returns on extension are due (both C Corporations and S Corporations); Partnership and … Continue reading

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No Use for this Tax

If you’re a business in California that doesn’t maintain inventory or sell products—that is, you’re a service business—you haven’t had to register with the Board of Equalization. The Board of Equalization administers California’s sales tax laws. That may change, though. … Continue reading

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Christopher Kelly, Blagojevich Crony, Dies Before Prison

Christopher Kelly, a fundraiser for disgraced Illinois Governor Rod Blagojevich, died on Saturday in Chicago. Mr. Kelly late last year pleaded guilty to tax fraud charges related to gambling debts. Last week he also pleaded guilty to fraud against United … Continue reading

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Drip, Drip, Drip on Rangel

For embattled Congressman Charlie Rangel (D-NY), is time running out? Byron York thinks it is. He notes that Congressman John Carter (R-TX) has introduced the “Rangel Rule”: “The brainchild of Rep. John Carter, a Texas Republican who spent two decades … Continue reading

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Updates From the Blogosphere

Over the past week there’s been some interesting stories posted around the tax Blogosphere: The IRS posted a page titled “Keeping Good Records Reduces Stress at Tax Time.” I cannot stress this enough. If you have good records (especailly good … Continue reading

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Impersonating an Accountant?

Who in their right mind would want to impersonate an accountant? It’s not as if we live glamorous lives. For example, today I sent out my quarterly newsletter, gave a speech, and prepared tax returns. Of course, I should never … Continue reading

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Tax Fraud Night at the Ballpark Canceled

Well, it was a bad idea to begin with. The Mahoning Valley Scrappers, the Class A (short season) affiliate of the Cleveland Indians, have canceled Wednesday’s James A. Traficant, Jr. Release Night. The actual cancellation was made on August 14th. … Continue reading

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Is the Tax Haven Era Ending?

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

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

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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