Author Archives: Russ

“Doctored Receipts and Implausible Testimony”

Posted on August 11, 2005 by Russ

It’s not a good thing for you when the Tax Court begins its opinion with “…[the petitioner] seeks to deduct expenses by relying mostly — if not quite entirely — on doctored receipts and implausible testimony.” The opinion includes such … Continue reading →

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Vacation

Posted on July 29, 2005 by Russ

I’ll be, in general, out of the office until August 9th, enjoying some time away from the office. While I’m away, take a look at some of the other excellent tax blogs noted in the blogroll on the right.

Posted in Taxable Talk | 1 Comment

Pork or Pork?

Posted on July 29, 2005 by Russ

As a member of the National Association of Enrolled Agents, every Friday I get an email with a summary of tax news. Today, I received the Ways & Means Committee’s Version of the new Highway Bill. You can find this … Continue reading →

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Porn Website Tax?

Posted on July 28, 2005 by Russ

According to a wire service story, Senator Blanche Lincoln (D-AR) plans on introducing legislation this week that would add a 25% federal excise tax on pornography and additional requirements on adult websites. Lincoln’s spokesman wouldn’t comment on the bill’s provisions, … Continue reading →

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IRS Help Centers: How Valuable?

Posted on July 27, 2005 by Russ

The Orange County Register reports today (one time subscriprtion required) that the IRS cannot tell whether its 400 help centers help taxpayers. The report, from independent auditor J. Russell George, the Treasury Department’s Inspector General for Tax Administration, was disputed … Continue reading →

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Technical Corrections Act

Posted on July 27, 2005 by Russ

Today’s Wall Street Journal also reports that Senators Grassley (R-IA) and Baucus (D-MT) have introduced a “technical corrections act” to fix errors in last year’s tax law and other recent legislation. The Tax Technical Corrections Act of 2005 was also … Continue reading →

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New Rules on Tax Shelters for Accounting Firms

Posted on July 27, 2005 by Russ

The Public Company Accounting Oversight Board announced new standards for tax shelters yesterday. The Wall Street Journal reported on this in today’s editions. The rules, which must be approved by the SEC, state that firms will be prohibited from auditing … Continue reading →

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Your Tax Dollars at Work: Did I Really Compliment the IRWD?

Posted on July 27, 2005 by Russ

As mentioned previously, my home and office are served the the Irvine Ranch Water District (IRWD). Unlike the neighboring Orange County Sanitation District, the IRWD hasn’t elected to spiritualize its’ sewage. But the IRWD has committed its own sin: Late … Continue reading →

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Uh Oh….

Posted on July 26, 2005 by Russ

I noticed a headline in today’s Orange County Register that grabbed my attention: “IRS Will Audit 5,000 Firms to Gauge Unpaid Taxes Nationwide” (one-time registration required). Then I read the article. If I hadn’t had heartburn before, now I did. … Continue reading →

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Once Burned ,Twice Shy

Posted on July 26, 2005 by Russ

The Tax Court was in a foul mood today, as they disposed of several frivolous taxpayer cases. In one case, they note, “We advised petitioner at the 2001 trial that his arguments were frivolous, and we admonished him against advancing … Continue reading →

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