Author Archives: Russ

Here We Go Again: Bias in the IRS’s Tax Exempt Group

Posted on June 20, 2021 by Russ

Most of us remember the IRS scandal from 2013.  In that scandal we learned that the IRS and/or individuals working at the IRS deliberately targeted conservative tax exempt (nonprofit) organizations.  It was a huge scandal at the time, and it … Continue reading →

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§1031 Exchanges for Cryptocurrency: The IRS Thinks Not

Posted on June 19, 2021 by Russ

Back in September 2017 I wrote a piece titled, “Can You Use a §1031 Exchange to Defer Gain with Cryptocurrency?”  The conclusion I drew was, “[M]ost exchanges of one cryptocurrency for another do not qualify as §1031 exchanges and it’s … Continue reading →

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“I Haven’t Received My IRS Refund. Can You Help Me?”

Posted on June 18, 2021 by Russ

This past week I fielded a number of phone calls asking this question.  Unfortunately, the answer is no.  Neither I nor any other tax professional can speed up your IRS refund. First, the good news: about 90% of IRS refunds … Continue reading →

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The 2021 Tax Season (Part 1)

Posted on June 14, 2021 by Russ

I’ve had good Tax Seasons and bad Tax Seasons, but the first part of the 2021 Tax Season was unique.  And uniqueness doesn’t mean good nor does it mean bad.  Both points were present this year, and continue to be … Continue reading →

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Bozo Tax Tip #1: Lies, Deceit, and Nefarious Schemes!

Posted on May 14, 2021 by Russ

The following two stories are true.  Only the names have been changed to protect the Bozos. I was at the barber shop a couple of weeks ago and overheard a barber (not mine) telling someone, …I just filed my tax … Continue reading →

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Bozo Tax Tip #2: Ignore Cryptocurrency!

Posted on May 13, 2021 by Russ

Three years ago was the last time I included cryptocurrency in my Bozo Tax Tips.  No matter how you slice it, when you dispose of cryptocurrency you have a taxable event.  In the view of the IRS, every disposal must … Continue reading →

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Bozo Tax Tip #3: Move Without Moving!

Posted on May 12, 2021 by Russ

Nearly ten years ago, we moved from Irvine, California to Las Vegas. The home in Irvine was sold, a home was purchased in Las Vegas, and the belongings went from the Golden State to the Silver State. Cars were re-registered, … Continue reading →

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Bozo Tax Tip #4: The $0.55 Solution

Posted on May 11, 2021 by Russ

With Tax Day fast approaching it’s time to examine yet another Bozo method of courting disaster. And it doesn’t, on the surface, seem to be a Bozo method. After all, this organization has the motto, Neither rain nor snow nor … Continue reading →

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Bozo Tax Tip #5: Procrastinate!

Posted on May 10, 2021 by Russ

Today is May 10th. The tax deadline is just seven days away. What happens if you wake up and it’s May 17, 2021, and you can’t file your tax? File an extension. Download Form 4868, make an estimate of what … Continue reading →

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Bozo Tax Tip #6: Use a Bozo Tax Professional!

Posted on May 7, 2021 by Russ

Here’s another Bozo Tax Tip that keeps coming around. The problem is, the Bozos don’t change their stripes. In any case, here are some signs your accountant might be a Bozo: – He’s never met a deduction that doesn’t fit … Continue reading →

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