Author Archives: Russ

Reason Magazine on Gilbert Hyatt vs. California’s Franchise Tax Board

Posted on October 26, 2017 by Russ

Reason magazine has a superb presentation on Gilbert Hyatt’s battle with California’s Franchise Tax Board. I cannot recommend it highly enough:

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The Five “Strangest” Things Clients Told Us This Tax Season

Posted on October 18, 2017 by Russ

As I write this from an undisclosed location on my vacation, it’s now two days past the closing (for most of us) of the 2017 Tax Season (filing 2016 tax returns). Our clients told us some, shall we say, interesting … Continue reading →

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California Fire Victims Have Extension Until January 31, 2018

Posted on October 13, 2017 by Russ

The IRS announced today that California wildfire victims have until January 31, 2018 to file various tax returns (including tax returns on extension due this coming Monday, October 16th). California’s Franchise Tax Board (the state income tax agency) immediately followed … Continue reading →

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Dead Men Tell No Tales, Even When They’re Supposed To

Posted on October 8, 2017 by Russ

For tax practitioners, the IRS’s e-Services suite of applications is extraordinarily useful. When a client give us the appropriate authorization we’re able to pull transcripts from the IRS’s computer system. This helps us file appropriate tax returns and it helps … Continue reading →

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Can a Tunnel Bridge Agent be a Professional Gambler, Too?

Posted on October 2, 2017 by Russ

The Tax Court looked at whether someone who worked full time as a Tunnel Bridge Agent could also be a professional gambler. There is a lot in the decision, including some things that I believe the Court gets wrong. The … Continue reading →

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It’s One 1099 Per Person, Or the Most Stupid and Hilarious Thing I’ve Seen in Some Time

Posted on September 29, 2017 by Russ

One of my clients, Barri Brown (all names in this post are fictitious), was missing a 1099 issued by one of the two large Daily Fantasy Sports (DFS) companies. It didn’t show on her Wage & Income Transcript, so she … Continue reading →

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IRS Suspends ASFR Program

Posted on September 26, 2017 by Russ

Via Procedurally Taxing comes news that the IRS has suspended the Automated Substitute for Return (ASFR) program. This doesn’t sound like much, but this is huge news. First, for those who aren’t tax geeks, the ASFR program is an automated … Continue reading →

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Prepare to Panic!

Posted on September 25, 2017 by Russ

Today is Monday, September 25, 2017. Exactly three weeks from today is Monday, October 16, 2017. That’s the deadline for individual taxpayers on extension to file their tax returns (save for those in hurricane disaster zones in Florida, Georgia, Texas, … Continue reading →

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The Train to Nowhere Remains a Boondoggle

Posted on September 22, 2017 by Russ

California’s high speed rail, aka The Train to Nowhere, remains likely to never carry passengers between Northern California and Southern California. Perhaps the segment linking Merced and Shafter (just north of Bakersfield) will run (although unlikely at high speed); more … Continue reading →

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Harvey and Irma Relief Includes the FBAR

Posted on September 13, 2017 by Russ

Taxpayers with $10,000 aggregate in one or more foreign financial accounts must file an FBAR (Report of Foreign Bank and Financial Accounts, Form 114) with the Financial Crimes Enforcement Network (FINCEN). FINCEN has announced on their website that they are … Continue reading →

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