Author Archives: Russ

Tax Season to Open on January 19th

Posted on December 21, 2015 by Russ

The IRS announced today that the 2016 Tax Season (for filing 2015 tax returns) will begin on Tuesday, January 19th. The tax deadline will be Monday, April 18th (for federal individual returns) except for taxpayers in Maine and Massachusetts–they get … Continue reading →

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Once Again, the IRS Doesn’t Start by Calling You

Posted on December 20, 2015 by Russ

My mother received a phone call on Saturday morning at 6 am from “Agent Smith” of the IRS demanding immediate payment of her taxes or she would find herself “thrown in jail.” Yes, the scamsters are still out there. Now … Continue reading →

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The Great, the Good, and the Bad of the Extender Legislation

Posted on December 20, 2015 by Russ

Normally I would write about the good, the bad, and the ugly of the extender legislation. It’s different this year, because the legislation passed by Congress and signed into law doesn’t have much that’s ugly. Instead, there’s some great news, … Continue reading →

Posted in IRS | Tagged | 1 Comment

2016 Standard Mileage Rates Released

Posted on December 17, 2015 by Russ

The IRS today announced the standard mileage rates for 2016: $0.54/mile for business miles driven (down from $0.575/mile in 2015); $0.19/mile for medical or moving purposes (down from $0.23/mile in 2015); and $0.14/mile in service of a charitable organization (unchanged; … Continue reading →

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That’s A Lot of Roast Beef Sandwiches

Posted on December 15, 2015 by Russ

Nick’s Famous Roast Beef is in Beverly, Massachusetts. You can get a roast beef sandwich for $4.50 to $6.95, definitely a reasonable price. The Department of Justice is alleging that one reason the prices are low is that the owners … Continue reading →

Posted in Tax Evasion | 1 Comment

If a Professional Prepares Your Return, Are You Exempt from the Accuracy-Related Penalty?

Posted on December 14, 2015 by Russ

An attorney’s tax return had two major errors: $450,000 of gross receipts were left off the return and $505,417 of Contract Labor expenses were deducted as not only Contract Labor but also as Cost of Goods Sold. The return was … Continue reading →

Posted in Tax Court | 1 Comment

Not a Pigg or a Turkey of a Decision

Posted on December 14, 2015 by Russ

Clarence Leland is an attorney in Mississippi. However, he bought a farm in Turkey, Texas. He entered into a crop share agreement with a Mr. Pigg. The farm didn’t make money, and Mr. Leland claimed the losses on his 2009 … Continue reading →

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Six Month Vacation Leads to Four and Eight Years at ClubFed

Posted on December 13, 2015 by Russ

Everyone likes vacations. Last year, I went to New Zealand and Australia. Unfortunately, this year’s vacation wasn’t anything like that trip. An Oregon couple has learned that some vacations are better off not taken. As I previously wrote, Ronald and … Continue reading →

Posted in Oregon, Tax Evasion | 1 Comment

NY Judge Rules Against DFS Sites

Posted on December 11, 2015 by Russ

New York Judge Manuel Mendez granted the New York State Attorney General a preliminary injunction that bans DraftKings and FanDuel from operating in New York. Both sites will appeal, but for now daily fantasy sports (DFS) is gone from the … Continue reading →

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Yet Another Reason Why Requiring Tax Professionals to Obtain a License Won’t Stop Tax Professionals from Behaving Badly

Posted on December 6, 2015 by Russ

In California, everyone who prepares a tax return for money must have a license. Individuals must either be an Enrolled Agent, a CPA, an attorney, or obtain a license from the California Tax Education Council. Of course, that means that … Continue reading →

Posted in Tax Fraud | 1 Comment