Author Archives: Russ

Budget Deal Done

The Flash Report said this evening that a budget deal is done. “Lots of cuts, lots of borrowing, lots of gimmicks. But from the briefings I have had so far, the cuts are substantial, with mega-billions that are permanent.” The … Continue reading

Posted in California | Comments Off on Budget Deal Done

More on FBAR

The Foreign Bank and Financial Account Reporting (FBAR) has been making the news. Today’s Wall Street Journal has an article detailing some of the issues with the filing requirements. Additionally, the New York State Bar Association isn’t happy with the … Continue reading

Posted in IRS | Tagged | Comments Off on More on FBAR

I Hope He’s Not Your IRS Auditor

The headline says it all: “IRS agent arrested for threats: Treasury Department investigates Valencia man for filing false tax returns”. Yelling “I’m going to kill you” to Treasury Agents isn’t likely the best strategy in the world. As the article … Continue reading

Posted in IRS | Comments Off on I Hope He’s Not Your IRS Auditor

Real Budget Cuts Needed

I read this story this morning and couldn’t believe it. Yet I’ve been assured it’s true. California’s DMV is returning a check because it was sent in too quickly from the time the notice was received! There’s another few bucks … Continue reading

Posted in California | Comments Off on Real Budget Cuts Needed

California Budget Vote This Week?

Rumors are flying that a vote will occur this week on a new California budget that contains no new taxes. Of course, until the proposal is read no one knows what “user fees” and other disguised tax increases are within … Continue reading

Posted in California | Comments Off on California Budget Vote This Week?

Woman Accepts Guilt in Defrauding Psychic

That’s the headline in the Rutland (Vermont) Herald. Denise Hall was employed by psychic Rosemary Altea. Ms. Hall pleaded guilty to wire fraud and filing a false tax return. It seems that Ms. Hall was Ms. Altea’s bookkeeper. Ms. Hall … Continue reading

Posted in Tax Evasion | Comments Off on Woman Accepts Guilt in Defrauding Psychic

Progress on the Budget?

News reports indicate that some progress has been made on the California budget meltdown. That said, the headline notes that “the thorniest issues remain.” Meanwhile, the liberal Los Angeles Times continues with its attacks on Proposition 13. It’s just not … Continue reading

Posted in California | Comments Off on Progress on the Budget?

Mailbag Time

Lots of questions have come in during the past few weeks. Here are a few that might interest you. 1. I recently settled a lawsuit for wrongful termination, and was awarded $100,000 after attorney fees of $50,000. How much of … Continue reading

Posted in Gambling, IRS | Comments Off on Mailbag Time

IRS, UBS In Negotiations

The Wall Street Journal is reporting that the IRS and Swiss bank UBS will jointly request a postponement of a court hearing on Monday in Miami. The Journal is also reporting that UBS and the IRS are “…deep in talks … Continue reading

Posted in IRS | 1 Comment

California Budget Update

Or perhaps this should be titled, no news isn’t good news. First, income tax collections were $1 billion under projections in June. That shouldn’t be a surprise to anyone; when people aren’t making as much money they don’t pay as … Continue reading

Posted in California | Comments Off on California Budget Update