Author Archives: Russ

Bozo Takes a Year Off

Posted on March 18, 2020 by Russ

Every year I’ve posted my Bozo Tax Tips. I will not be posting them for the 2020 Tax Season. There are too many serious issues going on, and I think it’s best to focus on the serious issues tax filers … Continue reading →

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Tax Deadline NOT Being Extended; Payment Deadline Extended for Most by 90 Days

Posted on March 17, 2020 by Russ

Secretary of the Treasury Mnuchin appeared at a press conference with President Trump. They stated that there will be a massive stimulus package. Additionally, Secretary Mnuchin stated that the tax deadline would not be extended because much filing can be … Continue reading →

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Today *Is* the Partnership and S-Corp Filing Deadline

Posted on March 16, 2020 by Russ

During a news conference last week President Trump stated something to the effect that he was ordering Secretary of the Treasury Mnuchin to extend tax filing deadlines. That has not happened as of the moment I’m writing this. Today is … Continue reading →

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We’re Number One!

Posted on March 15, 2020 by Russ

I think we can all use a little levity right now, and in the email was a study from IPX1031 about where the biggest tax procrastinators are. Not surprisingly to me, it’s fabulous Las Vegas–my home. A friend of mine … Continue reading →

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California’s Franchise Tax Board Extends Deadlines

Posted on March 14, 2020 by Russ

Yesterday, California’s Franchise Tax Board, the state’s income tax agency, extended the deadlines for taxpayers to both file and pay 2019 California income taxes (and 2020 California estimated taxes) by 60 days. Here is the announcement in full: Sacramento — … Continue reading →

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No Face to Face Appointments

Posted on March 12, 2020 by Russ

Taxes are a personal business, and providing service to our clients is what we’re about. That means face-to-face interactions. But I’m also an employer, and I must look at the health of my employees. Thus, beginning tomorrow we are no … Continue reading →

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Will the April 15th Deadline be Extended?

Posted on March 11, 2020 by Russ

The Wall Street Journal has a story (pay link) this morning speculating that the Department of the Treasury will push back the April 15th deadline.  There are no specifics given in the story, but given that politicians on both sides … Continue reading →

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Online Gambling and Offshore Cryptocurrency Exchange Mailing Addresses for 2020

Posted on February 27, 2020 by Russ

If you have one or more foreign financial accounts and you have $10,000 aggregate in those account(s) at any time during 2019, you must file the Report of Foreign Bank and Financial Accounts (the “FBAR”). This is Form 114 from … Continue reading →

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California 7, Arizona 2

Posted on February 27, 2020 by Russ

The state of Arizona (specifically, Arizona Attorney General Mark Brnovich) is not happy with California’s policy of coming after any Arizona business that is even remotely doing business in California (passive or not) to collect the $800 minimum California franchise … Continue reading →

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The Case of the Missing K-1

Posted on February 19, 2020 by Russ

John and Mary Smith came by my office yesterday. “We normally get to you in June,” Mrs. Smith told me, “but this year we have everything so we’d like to file today.” Well, they had almost everything. Unfortunately, there was … Continue reading →

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