Author Archives: Russ

Bozo Tax Tip #8: Publicize Your Tax Crimes on Social Media!

Posted on April 2, 2025 by Russ

Social media is really, really big these days. You can follow me on X (Twitter). I may even update my Facebook page one of these days. Of course, I’m not a tax criminal, and my posts hopefully add knowledge for … Continue reading →

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Bozo Tax Tip #9: Only Income Earned Outside the United States Is Taxable

Posted on April 1, 2025 by Russ

A few days ago I was explaining to a client the basics of the US Tax Code: All income is taxable unless Congress exempts it; nothing is deducible unless Congress allows it. That’s the basics. My office is in Las … Continue reading →

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Bozo Tax Tip #10: Email You Social Security Number, ITIN, or EIN!

Posted on March 31, 2025 by Russ

It’s time for our annual rundown of Bozo Tax Tips, strategies that you really, really, really shouldn’t try. But somewhere, somehow, someone will try these. Don’t say I didn’t warn you! This is a repeat for the twelfth year in … Continue reading →

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Bye, Bye, BOI

Posted on March 22, 2025 by Russ

It’s now official: Beneficial Ownership Information (BOI) reporting per the Corporate Transparency Act (CTA) is dead for almost all entities.  Late yesterday, FinCEN announced an interim final rule that effectively killed BOI reporting.  As noted in the announcement: In that … Continue reading →

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That May 30th Tax Deadline (BE-10)

Posted on March 6, 2025 by Russ

What, you’re saying? What tax deadline falls on May 30th?  It’s one that impacts a small number of businesses—generally, larger businesses.  It’s the BE-10 Survey: A U.S. person or business enterprise is required by law to submit the BE-10 survey … Continue reading →

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Online Gambling and Cryptocurrency Mailing Addresses for 2025

Posted on March 5, 2025 by Russ

If you have one or more foreign financial accounts and you have $10,000 aggregate in those account(s) at any time during 2024, you must file the Report of Foreign Bank and Financial Accounts (the “FBAR”). This is Form 114 from … Continue reading →

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BOI Reporting Dead for Most Entities (At Least, for the Foreseeable Future)

Posted on March 3, 2025 by Russ

Last night, President Trump and the Treasury Department each posted regarding the Corporate Transparency Act (which required Beneficial Ownership Information (BOI) reporting).  I happened to see President Trump’s announcement first (on Truth Social), quoted by Carol Roth on Twitter: From … Continue reading →

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BOI Reporting Again Voluntary

Posted on February 28, 2025 by Russ

Last night, FinCEN issued a press release which made Beneficial Ownership Information (BOI) reporting voluntary (for now). Today, FinCEN announced that it will not issue any fines or penalties or take any other enforcement actions against any companies based on … Continue reading →

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California’s FTB Issued Incorrect 1099-G’s

Posted on February 20, 2025 by Russ

This afternoon, California’s Franchise Tax Board (FTB, the state income tax agency) announced that taxpayers may have received incorrect 2024 Form 1099-G’s. The Form 1099-Gs sent by FTB for tax year 2024 may contain incorrect amounts when an estimate transfer … Continue reading →

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If You’re Asking for Bail, Don’t Hide Your Cryptocurrency Accounts

Posted on February 11, 2025 by Russ

The saga of poker playing Supreme Court litigator (and, for the attorneys who read this, SCOTUSblog founder) Tom Goldstein continues.  Mr. Goldstein was arrested late yesterday, and will be spending his time (at least for a while) at ClubFed while … Continue reading →

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