Author Archives: Russ

Pennsylvania Shuts Down, Sort Of

Posted on July 9, 2007 by Russ

The Keystone State is having a budget crisis. Governor Ed Rendell (D) has ordered a shutdown of all non-essential state services in Pennsylvania. The problem? There’s no approved state budget, and with the fiscal year having begun the state has … Continue reading →

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What’s the ClubFed Party Scene Like?

Posted on July 5, 2007 by Russ

That’s probably one of the thoughts going through Timothy Heffner’s mind right now. Mr. Heffner, of Pittsburgh, pleaded guilty to fraud, conspiracy and tax evasion charges on Tuesday. Mr. Heffner, according to the story in the Pittsburgh Post-Gazette, “entertained on … Continue reading →

Posted in Tax Fraud | 1 Comment

Muni Bonds After “United Haulers”

Posted on July 5, 2007 by Russ

As I mentioned in May, the Supreme Court will be looking at the taxing of municipal bonds later this year (Department of Revenue v. Davis). There’s an interesting article that I found that analyzes what the Supreme Court will likely … Continue reading →

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Antarctica Is Not a Country

Posted on July 5, 2007 by Russ

There are lots of foreign countries in the world, but Antarctica is not one of them. It is a continent. The question arose last year on whether you can take the Foreign Earned Income Exclusion (§911 of the Tax Code) … Continue reading →

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“We Made a Slight Mistake…”

Posted on July 5, 2007 by Russ

When I see that phrase, I just know that a whopper of an error is about to be seen. Well, those words weren’t used, but the DC Circuit realized that they did just that–made a whopper of a mistake. On … Continue reading →

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On Wisconsin!

Posted on July 1, 2007 by Russ

The Wisconsin State Senate approved a $66 billion (two-year) budget last week that includes $15.2 billion in new taxes. The budget includes new or increased taxes on oil companies, cigarette sales, hospitals, vehicle registrations, and real estate transfers. The proposed … Continue reading →

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California Developing New K-1s

Posted on July 1, 2007 by Russ

A few years ago, the IRS introduced new Schedule K-1s. The Franchise Tax Board plans on introducing new K-1s for the 2007 filing season, so that “[t]ransferring amounts from federal K-1s to California Schedule K-1s will soon be easier.” You … Continue reading →

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Off the Deep End

Posted on July 1, 2007 by Russ

Now that it’s summer, you may be considering a trip to the pool. Swimming is a great summer activity, but you do have to be careful when you dive into a pool. One diving coach jumped into some hot water … Continue reading →

Posted in Tax Fraud | 1 Comment

Another Offshore Scheme Goes Down the Drain

Posted on July 1, 2007 by Russ

I’m not a big drinker. The former President and co-owner of Domecq Importers will have 10 years at ClubFed of being a teetotaler after pleading guilty to fraud and tax fraud charges. Domecq Importers was a large liquor importer based … Continue reading →

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What Is It About Strip Club Owners & Tax Evasion?

Posted on July 1, 2007 by Russ

I’ve reported several times about strip club owners evading taxes (and getting caught). I guess there are a lot of temptations out there…and if you’re going to offer one, you get to thinking about another. In any case, yet another … Continue reading →

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