Author Archives: Russ

FINCEN Announces Due Dates for 2016 FBARs

Posted on December 19, 2016 by Russ

The Financial Crimes Enforcement Network (FINCEN) announced the due dates for 2016 Report of Foreign Bank and Financial Accounts (FBAR, Form 114). The FBAR will now be due on the same day as tax returns with an automatic extension for … Continue reading →

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My E-Services Follies

Posted on December 15, 2016 by Russ

The IRS is trying to become a bit more security conscious. As part of their efforts, the IRS is having all e-Services account users who use the IRS’s “Transcript Delivery Service” re-validate their identities. Letters are being sent to impacted … Continue reading →

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How to Go to Jail

Posted on December 14, 2016 by Russ

A few years ago, Steven Martinez won the coveted (not really) Tax Offender of the Year Award. His scheme was to tell clients that they had an amount due to the IRS and California. He then prepared a second set … Continue reading →

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Former French Budget Minister Heading to Prison for Tax Evasion

Posted on December 11, 2016 by Russ

We have yet another late nominee for Tax Offender of the Year. From Paris, France comes the story of Jérôme Cahuzac, former Budget Minister under President François Hollande and soon to be resident of the Bastille French Prison System. The … Continue reading →

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Iowa Disbands Forfeiture Team; Settles Lawsuit from Poker Players

Posted on December 6, 2016 by Russ

Back in 2014 I mentioned (in passing) that two poker players had $100,000 seized while simply driving across Iowa on their way home to California. The Iowa Department of Public Safety (the state highway patrol) had a dedicated team on … Continue reading →

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IRS Appeals Implements Stupid Policy of Not Sending Initial Contact Letters

Posted on December 6, 2016 by Russ

I have a client who filed a Tax Court petition in late September. She is disputing additional tax from an Automated Underreporting Unit (AUR) notice. She didn’t respond to the initial AUR notice, so the way to resolve this is … Continue reading →

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Nominations Due for 2016 Tax Offender of the Year

Posted on December 5, 2016 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 →

Posted in Taxable Talk | Tagged | 1 Comment

Won’t Be Getting Off for a Dime

Posted on December 4, 2016 by Russ

Sreedhar Potarazu is apparently very intelligent. He’s an ophthalmic surgeon in Potomoc, Maryland. He’s also an entrepreneur and an author. He’s also likely to be spending a few years at ClubFed. Dr. Potarazu formed VitalSpring Technologies, Inc., in 2000. Based … Continue reading →

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Your Tax Professional, A Cop

Posted on December 1, 2016 by Russ

When I flew to visit my mother for Thanksgiving, I had to show my driver’s license to get through TSA security at the Las Vegas Airport. That’s not a surprise. When I prepare my mother’s tax return for 2016, I … Continue reading →

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At Least His Name Was Right on the Return

Posted on November 28, 2016 by Russ

Steven H. Young of St. Petersburg, Florida didn’t like to pay taxes. Well, most of us don’t like to pay taxes but we do because it’s the law. Mr. Young decided that veracity wasn’t needed when filing tax returns. Mr. … Continue reading →

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