Author Archives: Russ

IRS Announces Which Taxpayers’ Returns Will Be Delayed

Posted on December 27, 2007 by Russ

The IRS announced today that most taxpayers will be able to file their tax returns normally. However, about 3 to 4 million taxpayers who use just a few forms will need to wait until February 11th. (While about 13.5 million … Continue reading →

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Snipes’ Motions Don’t Fly

Posted on December 27, 2007 by Russ

Wesley Snipes will be tried in Ocala, Florida, not New York City. That was just one of the rulings made yesterday by Judge William Hodges. The judge found that a jury in Florida would likely consist of the same racial … Continue reading →

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There’s a Good and a Bad Way to Change Your Address

Posted on December 26, 2007 by Russ

A partnership changes its address. What should it do to notify the IRS? Well, that’s fairly simple: Like any taxpayer it should send in Form 8822. Today, the Tax Court looked at a case where the partnership didn’t follow the … Continue reading →

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Gamblers, Keep Those Logs

Posted on December 26, 2007 by Russ

The Tax Court looked at another gambler’s attempt to write off substantial gambling losses. She claimed a losing year, but the IRS felt otherwise. Did she really have gambling losses, or were they a mirage? Gamblers, both professional or amateur, … Continue reading →

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Lumps of Coal for Christmas Tax Evaders

Posted on December 25, 2007 by Russ

There’s been lots of fraud over the past few days. People seem to be forgetting that cash sales are just as taxable as other sales. Let’s start in New York City. The New York Yankees may be one of baseball’s … Continue reading →

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Wash Sales Go To IRAs, Too

Posted on December 25, 2007 by Russ

Last week the IRS announced in Revenue Rule 2008-05 that wash sale rules impact transactions into an IRA. This could have a major impact to the unaware. A “wash sale” is when you sell shares of stock at a loss, … Continue reading →

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California Not So Golden For Residents

Posted on December 25, 2007 by Russ

In California’s last fiscal year (July 1, 2006 to June 30, 2007), 89,000 more people moved out of California than moved into the state. This is according to the annual report of the California Department of Finance. The state still … Continue reading →

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70 Pages of Non-Frivolity

Posted on December 23, 2007 by Russ

Heading into Christmas, I hope you’ve completed your shopping. The IRS gave out its list on Friday: A list debunking some of the most popular of the frivolous arguments used by tax protesters. For example, some have contended that only … Continue reading →

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Domecq Gets 10 Years

Posted on December 19, 2007 by Russ

When we last saw Michael Domecq, former president and co-owner of Domecq Importers, he had just pleaded guilty to tax fraud and knew he would spend 10 years at ClubFed. However, he had to prepare 17 years of revised, accurate … Continue reading →

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Wednesday the Rabbi Was Arrested

Posted on December 19, 2007 by Russ

Back in the 1960s Harry Kemelman began writing books about Rabbi David Small, including several bestsellers such as Friday the Rabbi Slept Late and Saturday the Rabbi Went Hungry. They’re cozy mysteries, and are worth your perusal. However, that’s not … Continue reading →

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