Author Archives: Russ

Vegas to CA: Humorous Ads Score

Posted on March 25, 2006 by Russ

I previously wrote about Las Vegas’ attempt to draw more businesses from California. A few days ago I saw one of the ads: A giant peanut crushed a Californian, akin to California’s huge tax burden crushing a business. One Los … Continue reading →

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I Wish the IRS Would Look At….

Posted on March 24, 2006 by Russ

Have you ever thought of an area where you’d like to see the IRS issue guidance? Now is your chance to send the IRS cogent tax items that need clarification. Today the IRS issued Notice 2006-36 requesting recommendations for the … Continue reading →

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“I Never Got It”

Posted on March 23, 2006 by Russ

Assume that you’re a conniving individual. The pesky IRS sends you a notice of non-payment. You decide to either (a) ignore it, or (b) move, but not give the IRS your new address. What will happen? Today, the Tax Court … Continue reading →

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Wide Right?

Posted on March 23, 2006 by Russ

Ray Wersching had an illustrious career in the NFL. After starting his career with the San Diego Chargers, he moved on to the San Francisco 49ers, and played in Super Bowls XVI and XIX. Wersching holds the career Super Bowl … Continue reading →

Posted in Tax Evasion | 4 Comments

Almost Impossible to Trace

Posted on March 22, 2006 by Russ

Don’t try this at home. Suppose you set up some offshore companies. You take investors’ money and buy gold coins (making the money harder to trace). Add a few shell companies, here and abroad, ignore those pesky IRS (and Treasury) … Continue reading →

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CA LLCs: Where to Send Refund Request

Posted on March 21, 2006 by Russ

Courtesy of Roth Tax Updates, and CCH, here’s how to request a refund: Taxpayers should fax their protective claims to the FTB at 916-845-9796. In the fax, taxpayers should note that this is a protective claim and assert that the … Continue reading →

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I’m Shocked (New Jersey)

Posted on March 21, 2006 by Russ

Remember Captain Renault from Casablanca? He steps into the back room of Rick’s Cafe, and says, “I’m shocked, shocked to find that gambling is going on in here!” A croupier then hands him a pile of money and says, “Your … Continue reading →

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All-In Back in Florida

Posted on March 18, 2006 by Russ

Florida has some unusual gambling laws. A court last year ruled that no-limit Texas Hold’em tournaments violated the law. On Friday, an appeals court ruled that the Florida Department of Pari-Mutuel Gaming erred in its decision that no-limit Texas Hold’em … Continue reading →

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Las Vegas Gears Up for Prop 82

Posted on March 17, 2006 by Russ

Proposition 82, Rob Reiner’s Preschool/Tax Increase Initiative, is really the “Help Las Vegas, Phoenix, and Denver” Initiative. Las Vegas decided that I am absolutely correct. Today, Las Vegas’ mayor, Oscar Goodman, announced a new initiative to bring more California businesses … Continue reading →

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Will the Feds End Up With a Casino?

Posted on March 17, 2006 by Russ

Renato Medina is the principal owner of Lucky Chances, a Bay Area poker club located in Colma. According to the US Department of Justice and the IRS, he allegedly caused Lucky Chance’s to deduct $2.6 million in bogus business expenses, … Continue reading →

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