Author Archives: Russ

No Renaissance for Them

Posted on October 11, 2006 by Russ

Back in 2000, the IRS raided “Renaissance, The Tax People.” The company was a multi-level marketing firm specializing in tax. Nothing wrong so far. However, the Department of Justice alleged in 2004 that the company told clients to add non-existant … Continue reading →

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Technical Corrections Bill Introduced in Congress

Posted on October 11, 2006 by Russ

A bill to make “technical corrections” to recently enacted tax legislation was introduced in both the House and the Senate, according to this story from CCH. The bills, S. 4026 and H.R. 6264, should find their way to passage in … Continue reading →

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An Unsuccessful Launderer

Posted on October 7, 2006 by Russ

Samuel Currin, the former chairman of the North Carolina Republican party, has agreed to plead guilty to conspiracy charges related to tax fraud, according to a published report. Mr. Currin will, according to the report, admit to taking $1.45 million … Continue reading →

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California Election: Proposition 1E

Posted on October 6, 2006 by Russ

The last of the five of the Governator’s infrastructure initiatives deals with disaster preparedness and levee repairs. This measure would allow the issuance of $4.09 billion in bonds, with payback costing about $266 million per year for 30 years. Most … Continue reading →

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California Election: Proposition 1D

Posted on October 6, 2006 by Russ

The fourth of five of the Governator’s infrastructure initiatives is a school funding bond act. If approved, $10.416 billion of bonds would be issued, costing around $680 million a year for 30 years to payoff. Yikes! Again, the goal of … Continue reading →

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California Election: Proposition 1C

Posted on October 6, 2006 by Russ

Proposition 1C is the third of five of the Governator’s infrastructure bills on the November ballot. Titled “Housing and Emergency Trust Fund Act of 2006”, it’s yet another monstrous bond act. This measure would allow the issuance of $2.6 billion … Continue reading →

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ITunes + Tax in New Jersey

Posted on October 4, 2006 by Russ

As I mentioned previously, New Jersey increased its sales tax earlier this year. The Garden State also expanded what is covered by sales tax. Tattoos, massages, limousines, and data processing services are just some of the itmes that the state … Continue reading →

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What Is It About Strip Club Owners that Makes Them Want to Become Tax Cheats?

Posted on October 3, 2006 by Russ

I wish I knew the answer—I could write a book on it! Perhaps it’s the cash income. Maybe it’s the borderline pornography. In any case, yet another strip club owner had his day in court. James Andrew Yaeger, of Columbia, … Continue reading →

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Coal in the Stocking for Online Gamblers

Posted on October 3, 2006 by Russ

Very early Saturday morning, Congress passed the Safe Port Act. Appended at the end of the legislation is the “Unlawful Internet Gambling Enforcement Act of 2006.” (The link takes you to the entire text of the act; go to page … Continue reading →

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Most People Only Want to File One Return a Year

Posted on September 29, 2006 by Russ

Why would you want to file two individual federal tax returns for one person for one year? Unless you’re amending your return, you don’t do this…unless you’re committing tax fraud. And from just up the road in Huntington Beach comes … Continue reading →

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