Author Archives: Russ

Fraud, With a Capital F

Posted on February 21, 2007 by Russ

It’s time for yet another round-up of tax fraud. We have some of the usual suspects, but there is one that rises to the top. I wrote about Wade Cook in December 2005 when he was indicted for tax fraud. … Continue reading →

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IRS Street Addresses

Posted on February 21, 2007 by Russ

Most taxpayers use the Postal Service to send their returns to the IRS. However, you can use Federal Express, UPS, or DHL. The problem is the IRS doesn’t list the street addresses of their service centers anywhere on their web … Continue reading →

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Are Poker Tournaments Gambling?

Posted on February 20, 2007 by Russ

A very interesting case today from the Tax Court. A husband and wife play poker. The wife is a professional, playing in poker tournaments; the husband is not a professional. The wife wins some money playing in poker tournaments; however, … Continue reading →

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Stop Tax Haven Abuse Act

Posted on February 19, 2007 by Russ

Three Senators have introduced the “Stop Tax Haven Abuse Act.” Senators Carl Levin (D-MI), Norm Coleman (R-MN), and Barack Obama (D-IL) are targeting the 30+ offshore tax havens. Senators Levin and Coleman have led an investigation into these tax havens, … Continue reading →

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Middle Class Tax Relief? From the Democrats?

Posted on February 18, 2007 by Russ

The Wall Street Journal on Friday headlines a possible attempt by the Democrats to enact middle class tax relief ($ubscriber pay link). With the Democrats now in control of Congress, they have enacted rules that require all tax legislation to … Continue reading →

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How Not To Commit Tax Evasion

Posted on February 14, 2007 by Russ

You’re a successful business owner, but you’re running a little short of cash. Do you cut back a bit on your expenditures? Of course not. Do you set up a trust, and write checks to cash, and pocket the money? … Continue reading →

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Psychic Doesn’t See Upcoming Sentence

Posted on February 14, 2007 by Russ

Pity “psychic” David Guardino. We’ve written about Mr. Guardino of Cary, North Carolina twice before: when he threw some punches at his wife and when he was one of our nominees for the 2005 tax offender of the year. He … Continue reading →

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Money Doesn’t Grow on Trees

Posted on February 13, 2007 by Russ

You know that. I know that. Does our leadership here in the Bronze Golden State know that? Last week I got the chance to read. I was forced to—I was in bed with the flu. A very small blurb in … Continue reading →

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Neteller, the DOJ, and the IRS

Posted on February 8, 2007 by Russ

One of my practice areas is professional gambling. Many gamblers maintained an account with the e-wallet firm Neteller. Neteller served as a financial intermediary between US customers and online gambling firms. In January, the Department of Justice arrested the two … Continue reading →

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Holes in the Tax Code

Posted on February 7, 2007 by Russ

With the 2008 Budget being sent to Congress, the Tax Foundation’s Tax Policy Blog shows the cost of ten famous deductions, credits and exemptions. Read the article for the full story. Meanwhile, Roth Tax Updates has the full details of … Continue reading →

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