Author Archives: Russ

The 2005 Tax Offender of the Year

Posted on December 31, 2005 by Russ

Boy, what a year. And what choices we have in naming our 2005 Offender of the Year. The nominees include, – Richard Hatch, who had over 300 million witnesses to winning $1 million on Survivor, but didn’t include the winnings … Continue reading →

Posted in Tax Fraud | Tagged | 1 Comment

The Last Days of ’05

Posted on December 31, 2005 by Russ

With just two days left in 2005, there are only a few things that you can do today or tomorrow that have tax impacts. You could have a baby. Or you could give to charity (if you use a credit … Continue reading →

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Hatch Facing January 10th Trial

Posted on December 28, 2005 by Russ

Richard Hatch, the Survivor winner who allegedly elected to stiff the IRS, faces a January 10th trial date in Providence, Rhode Island on ten counts of tax evasion, filing a false income tax return, wire fraud, bank fraud, and mail … Continue reading →

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The Grinch Is Alive and Well in Pennsylvania

Posted on December 27, 2005 by Russ

Pity those of you who own businesses in Pennsylvania. For your elected officials have no pity, and just days before Christmas put lumps of coal in your stockings. Pennsylvania Governor Ed Rendell (D) vetoed a package of business tax cuts … Continue reading →

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I’m Too Cynical: 2005 In Review

Posted on December 23, 2005 by Russ

…Or so I’ve been told. But as I continue to age (a phenomenon that I’ve been assured will continue) I have begun to wonder if Mark Twain was correct, when he said, “Suppose you were an idiot and suppose you … Continue reading →

Posted in IRS | 3 Comments

Business vs. Hobby

Posted on December 22, 2005 by Russ

One of the most vexing things for the layman is the difference between a hobby loss and a business loss. Because the US taxes all income earned worldwide, it makes no difference whether you earn money in a hobby or … Continue reading →

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Should All Tax Preparers be Regulated?

Posted on December 21, 2005 by Russ

Wait a second. Aren’t tax preparers regulated? Well, sort of. All tax preparers fall under the aegis of Circular 230. If your tax preparer is an Enrolled Agent (EA) (what I am), a Certified Public Accountant (CPA), or an attorney, … Continue reading →

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No Records, But A Big Heart (and a Wonderfully Written Decision)

Posted on December 15, 2005 by Russ

When the first lines of a Tax Court decision read, Tax records are the ancient Egyptians of the modern age–plagued not by boils, frogs, flies, and lice but by fire, flood, mold, and theft. The cursed tax records in this … Continue reading →

Posted in Tax Court | 5 Comments

A Gambling Association

Posted on December 14, 2005 by Russ

The Tax Court today looked at whether a heretofore charitable organization (a 501(c)(3)) that has a gaming operation can retain its’ charitable (501(c)(3)) status. This case gives an excellent example of some of the drawbacks of “charitable” gambling from a … Continue reading →

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Remember The Maine?

Posted on December 14, 2005 by Russ

Do you remember the Maine? For those of you who don’t remember history, the battleship USS Maine blew up in the harbor at Havana, Cuba. Even today, the cause of the explosion is still a mystery. But one thing is … Continue reading →

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