Author Archives: Russ

Three Fewer Bozo Tax Preparers on the Loose

Posted on February 1, 2009 by Russ

>From the East Coast comes two tales of Bozo tax preparers. They’re joined by one from the heartland. Together, it’s a trifecta of what not to do. First, Henderson Joseph of Clarksburg, Maryland used to own Triad Business Services. Mr. … Continue reading →

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And the Band Played On…

Posted on February 1, 2009 by Russ

California continues to limp towards fiscal Armageddon, with no change in the positions of either the Republicans (“cut spending now”) and the Democrats (“increase taxes now”). Meanwhile, a Sacramento judge ruled that Governor Schwarzenegger’s mandatory furloughs are legal. Many state … Continue reading →

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Another Headache for Young Gamblers

Posted on January 31, 2009 by Russ

Many online gamblers are college students and may be considered dependents. You can be claimed as a dependent if your parent(s) provide at least 50% of your support and you are under 18 or a full-time college student under age … Continue reading →

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Online Casinos Are Foreign Financial Institutions

Posted on January 27, 2009 by Russ

Casinos in the United States fall under the same currency requirements as banks and other financial institutions. Congress and the IRS recognized that money laundering and other currency shenanigans could occur at a casino. I’ve always felt that one day … Continue reading →

Posted in Gambling | Tagged | 6 Comments

Zumwinkel Pays Fine, Avoids Prison

Posted on January 26, 2009 by Russ

Yesterday I reported on Claus Zumwinkel, the former head of Deutsche Post AG, the German mail and logistics giant. Mr. Zumwinkel admitted last week that he evaded paying taxes on €970,000. Presiding Judge Wolfgang Mittrup said Zumwinkel had “knowingly, meticulously, … Continue reading →

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Touch of Brazil Owner Avoids ClubFed

Posted on January 26, 2009 by Russ

There’s something about escort services and tax evasion. It’s a cash business, of course, and the owners get tempted by the cash. After all, who is going to rat on an escort service? Well, someone did let the IRS know … Continue reading →

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Will “I Forgot” Work for Me?

Posted on January 26, 2009 by Russ

Well, there’s a new Treasury Secretary tonight. Tim Geithner was approved by the Senate 60-44. Personally, I’m very unhappy with this. Yes, I do believe that failure to pay his taxes does disqualify Mr. Geithner from being Treasury Secretary (and … Continue reading →

Posted in Tax Evasion | 1 Comment

Blackmail and Tax Evasion from Europe

Posted on January 25, 2009 by Russ

Liechtensteinische Landesbank AG (LLB) is the oldest bank in the principality of Liechtenstein. It’s also very much involved in the current European tax evasion scandal centered around Germany. Two related stories emerged this past week. First, a German court has … Continue reading →

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Don’t Try These at Home

Posted on January 25, 2009 by Russ

We may have a new President, but it’s the same old tax fraud. Please, don’t try any of these yourself. >From Snohomish, Washington comes a crime that’s guaranteed to get yourself sent to ClubFed. Simply take the trust fund (FICA … Continue reading →

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No News Is No News

Posted on January 25, 2009 by Russ

There’s been no real change in California’s budget crunch this week. Democrats still don’t want to cut programs and Republicans still don’t want to increase taxes; all Governor Schwarzenegger wants is a way to resolve the crisis. I don’t see … Continue reading →

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