Author Archives: Russ

Red, White, and Blue Fraud for the Fourth

I enjoyed the local fireworks show last night. The individuals mentioned below are involved in their own legal fireworks relating to tax evasion. First, if you really want to get into tax trouble, simply don’t remit your trust fund taxes … Continue reading

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Cap and Tax

Did you know that Congress is considering passing a tax increase? You hadn’t heard about that, right? Well, it’s not called a tax increase but it definitely is. This misguided legislation is called The American Clean Energy and Security Act … Continue reading

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New Hampshire Gambling Tax Now Law

New Hampshire’s budget was signed into law earlier this week, and it gives gamblers a reason to frown. Included in the budget is a 10% tax on gambling winnings. This article on the tax states, As written, he [Rick Newman, … Continue reading

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Schwarzenegger Vetoes Unconstitutional Budget

The Flash Report is stating that Governor Schwarzenegger this morning vetoed the unconstitutional tax increases passed by the Democrats two days ago. The Governator had vowed to veto any tax increases, stating that California must live within its means. Perhaps … Continue reading

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Russ Enters a Debate

Two tax bloggers who I respect, Robert Flach (The Wandering Tax Pro) and Peter Pappas (The Tax Lawyer’s Blog) have been debating Peter’s 5 Slam Dunk IRS Audit Red Flags. Robert responded, Peter replied, and Robert made his rebuttal. All … Continue reading

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IRS Gives More Time for FBAR for Some

The reporting of Foreign Bank and Financial Accounts—the FBAR reporting on Form TD F 90-22.1—is impacting more individuals than in the past. More people have foreign financial accounts, and online gambling accounts are now considered foreign financial accounts. As Joe … Continue reading

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Constitutional Requirements? Who Cares!

Last night, Democrats in the California Assembly passed billions of new taxes on a party-line vote. There’s just one problem: Tax increases require a two-thirds vote. If these increases are signed into law, they’d be challenged—almost certainly successfully—and we’d be … Continue reading

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Lies, Deceits, and Nefarious Schemes

When President Obama was elected, I noted that everyone should watch their wallets and that tax increases would be on the horizon. Sure, President Obama said that there would be no middle class tax increase. Unfortunately, it appears that every … Continue reading

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No Change In California

I’m enjoying the scenery in Las Vegas tonight. I just witnessed a beautiful sunset, with the sun peering out from beneath a high cloud from the mountains on the western edge of the Las Vegas valley. There’s no joy right … Continue reading

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Clunker Vouchers Likely Taxable in California

President Obama signed the Clunker Voucher program into law. This program will give automobile dealerships that register for it the ability to give out $3500 or $4500 vouchers to individuals for use when they buy a new vehicle that has … Continue reading

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