Author Archives: Russ

Answering Some FBAR-Related Questions

Posted on June 5, 2016 by Russ

The FBAR–the Report of Foreign Bank and Financial Accounts (Form 114)–is due on June 30th. If you have $10,000 aggregate in one or more foreign financial accounts you must file the FBAR. There are no extensions available. Here are three … Continue reading →

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If You Want to Go to ClubFed…

Posted on June 5, 2016 by Russ

…The simplest, fastest, and easiest method (via the tax world) is to withhold employment taxes and not remit them to the IRS. This is always investigated. But at least once a month I see yet another example. Take the case … Continue reading →

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Lionel Messi On Trial For Tax Evasion

Posted on May 30, 2016 by Russ

Football–well, soccer for us colonials–is a big business. Lionel Messi is one of the world’s best players. The Spanish tax agency, Agencia Tributaria, accuses Mr. Messi (and his father) of evading €4.16 million of tax on his image rights. Mr. … Continue reading →

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Only the IRS Can Unite Democrats and Republicans

Posted on May 30, 2016 by Russ

Last week Congress held a hearing on the IRS refusing to return wrongly seized small business owners assets. Only the IRS could unite Democrats and Republicans this year, and once again the IRS managed to do so. As reported in … Continue reading →

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Individual F: Has Kermit Washington Fouled Out?

Posted on May 25, 2016 by Russ

Yesterday I wrote about the guilty plea of former San Diego Charger Ron Mix; today, the other shoe dropped. “Individual F,” as former NBA basketball player Kermit Washington was called in the Mix indictment, was arrested on charges of corrupt … Continue reading →

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Mix Sacked: From Hall of Fame to ClubFed?

Posted on May 24, 2016 by Russ

Ron Mix is in the NFL Hall of Fame for his play as an offensive lineman for the San Diego Chargers. He was nicknamed the “Intellectual Assassin” for the combination of his physical play and his law degree. Mr. Mix’s … Continue reading →

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Taxes and the WSOP: 2016 Update

Posted on May 16, 2016 by Russ

I’ll be heading to the Rio Hotel and Casino tomorrow for three days of continuing education. In a little over two weeks, the poker world will be descending on the Rio for the annual World Series of Poker. (I’m probably … Continue reading →

Posted in Gambling | Tagged | 2 Comments

Caesars Bankruptcy: An Update

Posted on May 15, 2016 by Russ

When last we left the bankruptcy of Caesars Entertainment Operating Company (CEOC) (nearly four months ago), a complete reorganization wasn’t ruled out but Caesars was still in control of the bankruptcy. Over the last four months: In mid-March, a bankruptcy … Continue reading →

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1500 Full Tilt Remission Petitions Denied by Department of Justice

Posted on May 8, 2016 by Russ

Most (but not all) of the remission payments for balances on Full Tilt Poker have been resolved. However, a notice appeared on Friday on www.fulltiltpokerclaims.com: INFORMATION REGARDING DENIED PETITIONS GCG has been informed that the Department of Justice Asset Forfeiture … Continue reading →

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He Didn’t Wear His Sunglasses at Night

Posted on May 8, 2016 by Russ

Speaking of guilty pleasures, one of my favorite 1980’s songs is Corey Hart’s “Sunglasses At Night.” One New York seller of sunglasses forgot a not-so-minor detail of selling sunglasses, and may be finding his way to ClubFed. Michael Stern was … Continue reading →

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