Author Archives: Russ

IRS (and All Federal Agencies) Closed Tomorrow, December 5th

Posted on December 4, 2018 by Russ

The Internal Revenue Service and all federal agencies will be closed tomorrow, Wednesday, December 5th, for the national day of mourning for President George H.W. Bush. The IRS also announced today that they have granted taxpayers an extra day, until … Continue reading →

Posted in IRS | Comments Off on IRS (and All Federal Agencies) Closed Tomorrow, December 5th

Swart Broadens

Posted on November 29, 2018 by Russ

California’s Franchise Tax Board believes that any business with even a remote tie to California should pay California tax. Let’s say you own a 0.21% interest in Acme LLC. Acme invests in something in California. You have no authority to … Continue reading →

Posted in California | Tagged , , | Comments Off on Swart Broadens

Bobble Away

Posted on November 27, 2018 by Russ

Are bobbleheads promotional items that are subject to Use Tax? The Cincinnati Reds fought the Ohio Department of Taxation’s ruling that bobbleheads were subject to Use Tax all the way to the Ohio Supreme Court. In this case, we are … Continue reading →

Posted in Ohio, Sales Tax | Tagged | Comments Off on Bobble Away

Nothing for Something

Posted on November 21, 2018 by Russ

Have I got a deal for you! (It is, after all, the Holiday Season where we’re all looking for deals, right?) I can take your assets and hide them from anyone and everyone! Simply form one of my special Nevada … Continue reading →

Posted in Tax Fraud | Comments Off on Nothing for Something

Gambling With an Edge Podcast

Posted on November 13, 2018 by Russ

I appear on this week’s episode of Gambling With an Edge. We discuss the new tax law, and tax topics of interest to gamblers, including how the new higher standard deduction will negatively impact gamblers.

Posted in Gambling | Tagged | Comments Off on Gambling With an Edge Podcast

This Name Looks Vaguely Familiar

Posted on November 1, 2018 by Russ

I’m a tax nerd. I read Tax Court decisions. Today, one caught my eye: W.T. Snipes v. Commissioner. This name looks vaguely familiar. Yes, it’s the Wesley Snipes. Mr. Snipes, for those who don’t remember, visited ClubFed for failing to … Continue reading →

Posted in Tax Court, Tax Evasion | Tagged | Comments Off on This Name Looks Vaguely Familiar

Here We Go Again…

Posted on October 30, 2018 by Russ

A few years ago I penned a post titled “Taxes and Daily Fantasy Sports: The Duck Test.” To remind everyone, If it looks like a duck, walks like a duck and quacks like a duck, then it just may be … Continue reading →

Posted in Gambling, New York | Tagged | Comments Off on Here We Go Again…

Haste Makes Waste

Posted on October 22, 2018 by Russ

Or so the cliche goes. And for the IRS, it certainly does. 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 … Continue reading →

Posted in IRS | Tagged | Comments Off on Haste Makes Waste

A Letter on Redacted Transcripts

Posted on October 18, 2018 by Russ

About a month ago I wrote Nina Olson, the IRS National Taxpayer Advocate, regarding the IRS’s new policy on redacting transcripts. I noted several issues: 1. While an unredacted transcript is available, it is only available to taxpayers, not tax … Continue reading →

Posted in IRS | Comments Off on A Letter on Redacted Transcripts

It’s Time to Panic!

Posted on October 9, 2018 by Russ

If you haven’t done your taxes yet but have an extension, it is now officially TIME TO PANIC! The deadline is in less than one week (unless you’re in a hurricane disaster zone, and that will, unfortunately, likely include the … Continue reading →

Posted in Tax Preparation | Tagged | Comments Off on It’s Time to Panic!