Author Archives: Russ

Bozo Tax Tip #9 1/2: 300 Million Witnesses Can’t Be Right!

Posted on April 4, 2016 by Russ

I am a sad person this year as I’m writing my Bozo Tax Tips. Richard Hatch did nothing this past year to keep him in my top ten tax tips. Thus, Mr. Hatch is no longer part of the top … Continue reading →

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Bozo Tax Tip #10: Email Your Social Security Number!

Posted on April 1, 2016 by Russ

It’s time for our annual rundown of Bozo Tax Tips, strategies that you really, really, really shouldn’t try. But somewhere, somehow, someone will try these. Don’t say I didn’t warn you! This is a repeat for the third year in … Continue reading →

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A Bad Day for the IRS in Court

Posted on March 22, 2016 by Russ

An appeals court decision today should end speculation on Democrats’ claims that the IRS scandal is a non-event. The Sixth Circuit Court of Appeals heard an appeal last week. The NorCal Tea Party Patriots had filed a class action suit … Continue reading →

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March 15th Tax Deadlines

Posted on March 14, 2016 by Russ

There are a number of tax deadlines tomorrow, March 15th. Here’s what you need to know. Calendar Year Corporations: If you have a calendar year corporation, your Form 1120 or Form 1120S is due tomorrow. If you’re not ready to … Continue reading →

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Online Gambling Addresses Updated for 2016

Posted on March 8, 2016 by Russ

This list has been superseded by the 2017 list. With the United States v. Hom decision, we must again file an FBAR for foreign online gambling sites. An FBAR (Form 114) is required if your aggregate balance exceeds $10,000 at … Continue reading →

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Annual Blog Hiatus

Posted on March 7, 2016 by Russ

It’s time for my annual blog hiatus. There will be occasional posts regarding deadlines (the corporate tax deadline is in one week–Tuesday, March 15th) and my annual Bozo Tax Tips will appear beginning on April 1st (no foolin’). If anything … Continue reading →

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What Part of “Permanent Injunction” Didn’t You Understand?

Posted on March 6, 2016 by Russ

Last September, Gerardo Herrera found himself the target of the IRS and the US Department of Justice. Mr. Herrera owned a tax preparation business, El Lobo Multiservicios Professionales Inc. in Colorado. According to the indictment issued last September, Mr. Herrera … Continue reading →

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Koskinen Wins Public Service Award; Chaffetz Gets It Right

Posted on March 6, 2016 by Russ

IRS Commissioner John Koskinen was awarded the prestigious Elliot L Richardson Prize for Excellence in Public Service by the National Academy of Public Administration. According to the NAPA’s website, Those individuals selected to receive the ELR Prize shall have demonstrated: … Continue reading →

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Math Is Hard, IRS Addition

Posted on March 3, 2016 by Russ

This time I couldn’t resist. A client received an IRS CP2000 notice. This is an Automated Underreporting Unit (AUR) notice, designed to look for things such as matching errors. In this case, a client didn’t include his dividend income on … Continue reading →

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The Most Terrifying Words in the English Language Strike Again

Posted on March 2, 2016 by Russ

One of my favorite quotes is from President Ronald Reagan: The most terrifying words in the English language are: I’m from the government and I’m here to help. Yet another instance of this appears to be striking with the IRS. … Continue reading →

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