Author Archives: Russ

No More Taxachusetts?

Posted on December 2, 2007 by Russ

I have a few clients in Massachusetts. We joke that it’s really “Taxachusetts.” Massachusetts’ state income tax is 5.3%, and is really more of a gross receipts income tax; few deductions are allowed. But that may change. Citizens in Massachusetts … Continue reading →

Posted in Massachusetts | Comments Off on No More Taxachusetts?

Hudec Pleads Guilty

Posted on December 2, 2007 by Russ

Earlier this year I wrote about Richard Hudec, Jr. Mr. Hudec had been accused of tax evasion and concealing material information. He pleaded guilty to those charges on Friday. While he faces up to ten years at ClubFed it’s likely … Continue reading →

Posted in Tax Evasion | Comments Off on Hudec Pleads Guilty

I Thinking I’m Getting Sick…

Posted on December 2, 2007 by Russ

What does the IRS have to do with health care? Very little today. However, if one presidential candidate gets his wish, the IRS will be intimately involved in health care. Former Senator John Edwards (D-NC) proposes that under his version … Continue reading →

Posted in IRS | Comments Off on I Thinking I’m Getting Sick…

Another Way to Inflate Oil Prices

Posted on November 29, 2007 by Russ

I’m definitely not an expert on oil and gas accounting. That’s a very specialized niche, and I only know enough to be dangerous. But one thing I do know is that you can’t inflate prices on joint ventures to allow … Continue reading →

Posted in Tax Fraud | Comments Off on Another Way to Inflate Oil Prices

Federal Tax Fraud: The Users Guide

Posted on November 28, 2007 by Russ

As an author (my third book is due out in late January), one problem that I have faced is coming up with a title. It must be something that attracts your target audience to your book. A Norristown, Pennsylvania attorney … Continue reading →

Posted in Tax Fraud | Comments Off on Federal Tax Fraud: The Users Guide

IRS Oversight Board “Gravely Concerned”

Posted on November 27, 2007 by Russ

This afternoon I spoke to the Exchange Club of Irvine regarding tax law changes in 2007. One issue that came up that I couldn’t give a complete answer to was the Alternative Minimum Tax (AMT). Would Congress pass another “patch” … Continue reading →

Posted in IRS, Legislation | Comments Off on IRS Oversight Board “Gravely Concerned”

Yagman Gets Three Years

Posted on November 27, 2007 by Russ

Civil rights attorney Stephen Yagman was sentenced today to three years at ClubFed for his 19 convictions on bankruptcy fraud, tax fraud, and money laundering. The government had asked for nine years; Yagman had asked to teach a course on … Continue reading →

Posted in Tax Evasion | Tagged | Comments Off on Yagman Gets Three Years

Mileage Rates for 2008

Posted on November 27, 2007 by Russ

A sure way to know when the IRS will announce the standard mileage rates for the following year is to look at my schedule. At lunch today I spoke to the Exchange Club of Irvine on 2007 tax law changes. … Continue reading →

Posted in IRS | Comments Off on Mileage Rates for 2008

Tomorrow, Tomorrow…

Posted on November 26, 2007 by Russ

The sun’ll come out Tomorrow So ya gotta hang on ‘Til tomorrow Come what may Tomorrow! Tomorrow! I love ya Tomorrow! You’re always A day A way! Those lyrics, from the musical Annie, describe Stephen Yagman’s fate. After a six-hour … Continue reading →

Posted in Tax Evasion | Tagged | Comments Off on Tomorrow, Tomorrow…

FBARs

Posted on November 25, 2007 by Russ

Several months ago, I participated in a phone form on the FBAR program (Foreign Bank Account Rreporting); generally, if you have a foreign bank account with $10,000 or more in it you must file Form TD F90-22.1 with the Department … Continue reading →

Posted in IRS | Tagged | Comments Off on FBARs