Author Archives: Russ

The 2019 Tax Offender of the Year

Posted on December 31, 2019 by Russ

This year really went by fast, but unfortunately there’s no shortage of candidates for the Tax Offender of the Year award. As a reminder, to be considered for the Tax Offender of the Year award, the individual (or organization) must … Continue reading →

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An Update on Arizona v. California

Posted on December 23, 2019 by Russ

There’s been some news on Arizona’s attempt to stop California from requiring indirect passive owners of LLCs who happen to own other LLCs that invest in California from having to pay California’s $800 minimum franchise tax. When we last looked … Continue reading →

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Congress Gets in the Christmas Spirit: Tax Extenders Pass

Posted on December 20, 2019 by Russ

“It’s looking a lot like Christmas,” is how one Christmas tune begins. Here in Las Vegas, that means it’s cold (for Las Vegas), and the few deciduous trees in town are now leafless. But Congress got in the Christmas spirit, … Continue reading →

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Nominations for the 2019 Tax Offender of the Year Are Due

Posted on December 10, 2019 by Russ

In a little less than a month it will be time to reveal this year’s winner of the prestigious “Tax Offender of the Year” award. Remember, To be considered for the Tax Offender of the Year award, the individual (or … Continue reading →

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FOIA Lawsuit Looks at IRS Procedures on Representative’s Personally Identifiable Information

Posted on December 9, 2019 by Russ

One of the tax blogs that I faithfully read is Procedurally Taxing. Today, they noted a lawsuit against the IRS regarding the IRS’s procedures when a third-party calls them for taxpayer information. The author of the post is a tax … Continue reading →

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IRS Criminal Investigation Has a 91.2% Conviction Rate

Posted on December 5, 2019 by Russ

Here’s a helpful hint to anyone who commits a serious tax crime: If IRS Criminal Investigation (CI) comes after you, there’s a 91.2% chance that you will be heading to ClubFed or otherwise be convicted. As poker players say, ‘Those … Continue reading →

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No, You Weren’t Allowed to Do a Like-Kind Exchange for Cryptocurrency Before 2018

Posted on November 14, 2019 by Russ

A question that has come up is whether you could do a like-kind exchange for cryptocurrency prior to 2018. (The Tax Cuts and Jobs Act eliminated all like-kind exchanges for everything except real property beginning with the 2018 tax year.) … Continue reading →

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Out With the Fed Mandate; In With State Mandates

Posted on November 13, 2019 by Russ

Once upon a time there was the federal mandate to have health insurance; per the US Supreme Court, a “tax.” Well, beginning with 2019 tax returns (filed in 2020) the federal mandate is no more. Unfortunately, tax professionals and taxpayers … Continue reading →

Posted in California, District of Columbia, Massachusetts, New Jersey, Rhode Island, Vermont | Tagged | Comments Off on Out With the Fed Mandate; In With State Mandates

Deja Vu All Over Again, Again

Posted on November 7, 2019 by Russ

Last year I wrote a post noting the following: A client filed his tax return on October 2nd. He had a balance due (he had made an extension payment, but he still owed some tax). He paid by having his … Continue reading →

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Regulations Matter, Too

Posted on November 5, 2019 by Russ

Last week, KABC (a Los Angeles television station) reported on a couple moving their small business from Canoga Park, California (in the San Fernando Valley area of Los Angeles) to Fort Worth, Texas. There’s nothing new about this story–companies relocate … Continue reading →

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