Author Archives: Russ

$5 Million or $228,000…

Posted on April 25, 2008 by Russ

Joe Kristan has an excellent round-up of tax bloggers’ reactions to Wesley Snipes’ sentencing. Joe’s conclusion is worth noting (especially if you have ideas of following Mr. Snipes’ attempts at not paying federal taxes): Mr. Snipes’ acquittal on the felony … Continue reading →

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Snipes Gets Three Years

Posted on April 24, 2008 by Russ

Wesley Snipes will be spending three years at ClubFed. Judge William Terrel Hodges sentenced Snipes to the maximum possible sentence on his three misdemeanor charges. The Associated Press noted that Judge Hodges said that Snipes had shown a “history of … Continue reading →

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Things Don’t Look Good for Mr. Snipes

Posted on April 24, 2008 by Russ

I’ve been on the phone all morning, but Joe Kristan has been watching Ocala.com. The sentencing hearing has broken for lunch (I suspect since it’s 4:09 p.m. as I type this they’ve reconvened), and Judge William Terrel Hodges remarked: He … Continue reading →

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Snipes’ Sentencing Tomorrow

Posted on April 23, 2008 by Russ

Wesley Snipes will be sentenced tomorrow in Ocala, Florida, for his conviction on three misdameaner charges of failure to file a tax return. The prosecution has asked that Snipes get the maximum sentence: three years at ClubFed. Snipes’ attorneys are … Continue reading →

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Two Cases of Bozo Tax Fraud

Posted on April 20, 2008 by Russ

I spent the last couple of days relaxing (along with printing tax returns). Unsurprisingly there’s some fraud to report on in just those last few days. First, I have to look at a Bozo tax preparer. From nearby Rialto, California … Continue reading →

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Dark Clouds on the Horizon in California

Posted on April 20, 2008 by Russ

Back in February California’s legislature passed legislation that helped cut $8 billion from the projected $16 billion budget deficit. That’s good. Unfortunately, the deficit is growing as the state’s revenues aren’t. The San Francisco Chronicle has a story on the … Continue reading →

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Bozo Tax Tip #1: Foreign Trusts

Posted on April 15, 2008 by Russ

By far the worst tax schemes in the view of the IRS are offshore (foreign) trusts. In fact, trusts of all sorts—domestic and foreign—are regularly abused. First, not all trusts are bad. Many trusts serve a legitimate purpose, such as … Continue reading →

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Bozo Tax Tip #2: 300 Million Witnesses Can’t Be Right

Posted on April 14, 2008 by Russ

The IRS loves Bozo tax celebrities. They get a chance to show you and I that Bozo celebrities must pay their taxes. And if they go to court and win, it’s guaranteed that there will be plenty of publicity. So … Continue reading →

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Bozo Tax Tip #3: Call Your Accountant on the 15th

Posted on April 13, 2008 by Russ

Let’s assume you’ve procrastinated on your taxes, and you (all of a sudden) notice it’s April 15th. You’ll just call your accountant, and you’re sure he’ll drop everything for you. No chance. If you called me today, and I haven’t … Continue reading →

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Bozo Tax Tip #4: Foreign Bank Accounts

Posted on April 12, 2008 by Russ

Let’s assume your business has been successful. Very successful. What should you do with all that money, especially if you’d prefer to not send a lot of it to Uncle Sam? Well, you can take the Bozo method of hiding … Continue reading →

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