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Author Archives: Russ
Are Poker Tournaments Gambling?
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
Stop Tax Haven Abuse Act
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
Posted in Legislation
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Middle Class Tax Relief? From the Democrats?
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
Posted in Legislation
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How Not To Commit Tax Evasion
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
Posted in Tax Evasion
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Psychic Doesn’t See Upcoming Sentence
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
Posted in Tax Evasion
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Money Doesn’t Grow on Trees
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
Posted in California
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Neteller, the DOJ, and the IRS
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
Holes in the Tax Code
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
Posted in IRS
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Westinghouse and Sylvania
Two famous electronics companies. In fact, I used to work for Westinghouse (“You can be sure if it’s Westinghouse”). But that’s not the story here. Instead, it’s the usual tax evasion, with a twist. >From the Pittsburgh Post-Gazette comes the … Continue reading
Posted in Tax Evasion
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The Kanter Sage Continues
I’ve written about the Kanter case before (here , here, and here). In that case, the Tax Court reversed the finding of the trial court judge, and didn’t release the findings of the trial court judge. The case made its … Continue reading