Author Archives: Russ

If the Sopranos Ran New Jersey…

Posted on May 4, 2006 by Russ

…the state would probably be run much more efficiently than it is today. Their methods, though, might leave something to be desired. However, the methods employed by Governor Jon Corzine leave a lot to be desired. Corzine wants to increase … Continue reading →

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The 2% Solution

Posted on May 1, 2006 by Russ

Today the Tax Court looked at an ambiguous section of the Tax Code. Suppose an S Corporation is owed a refund, with interest. What interest rate should be used? The general “corporate overpayment” rate, the “large corporation” overpayment rate, or … Continue reading →

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ABBA May Need a Souper Trooper

Posted on April 30, 2006 by Russ

…on the tax front. Bjorn Ulvaeus, a member of the Swedish pop group ABBA, has been charged with tax evasion. He is accused of not paying 87 million kronor ($11.7 million) in taxes on royalties from ABBA’s songs and musicals. … Continue reading →

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The Tax Court Believes the AMT Is Unfair, But You Still Have to Pay It

Posted on April 26, 2006 by Russ

Is the Alternative Minimum Tax Unfair? Of course it is. But do you have to pay it? Certainly. And that’s the crux of today’s Tax Court case. Our unlucky petitioners earned quite a bit of money, reporting wage income of … Continue reading →

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A Fire Is No Excuse

Posted on April 26, 2006 by Russ

Today the Tax Court looked at a casualty loss case. Many times when casualty loss cases make their way to Tax Court, there’s a dispute about whether or not there really was a loss. Not today. A fire destroyed the … Continue reading →

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Honesty Is the Best Policy

Posted on April 26, 2006 by Russ

It’s still election season, and here in the Bronze Golden State, Democrats will vote on June 6th for their candidate for Governor to oppose the Governator. It’s rare we see such frank honesty as that given by one candidate, Phil … Continue reading →

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Some Interesting Tax Court Cases

Posted on April 26, 2006 by Russ

Yesterday, there were three interesting Tax Court decisions. Joe Kristan of Roth Tax Updates has an excellent post on the first case. In that case, Merlo v. Commissioner, the unlucky taxpayer found out the “gotcha” of incentive stock options. If … Continue reading →

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How Big Is the Tax Gap?

Posted on April 26, 2006 by Russ

The “Tax Gap” is difference between the amount of tax that the IRS should collect if everyone followed the law and the amount that it actually collects. There are three components of the gap: nonfiling, under-reporting, and underpayment. Of course, … Continue reading →

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Crime Blog Time

Posted on April 21, 2006 by Russ

It’s Friday, and Tax Day has come and gone. But the memory lingers, so let’s look at some scofflaws as the week ends: Louis Ratfield of Lake Worth, FL has been in trouble with the government before. The IRS secured … Continue reading →

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An Affair in Tax Court

Posted on April 20, 2006 by Russ

The scene is the doctor’s office, where the doctor is romancing his patient. Just a little problem: the patient is married to a policeman. The policeman finds out and vows to sue the doctor, or get paid a large sum. … Continue reading →

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