Author Archives: Russ

Hurricane Debby Tax Deadline Relief; Deadlines Extended for Impacted Taxpayers to February 3, 2025

Posted on August 9, 2024 by Russ

This year is supposed to be a very active year in the tropics, with over 20 tropical storms (some of which will be hurricanes) predicted.  Hurricane Debby made landfall in Florida, and then made a second landfall in the Carolinas … Continue reading →

Posted in Florida, Georgia, North Carolina, Pennsylvania, South Carolina | Tagged | Comments Off on Hurricane Debby Tax Deadline Relief; Deadlines Extended for Impacted Taxpayers to February 3, 2025

Why Did the IRS Send Me a $1.87 Refund?

Posted on August 1, 2024 by Russ

In mid-June I received mail from the IRS.  That’s not unusual; I receive a lot of mail from the IRS (generally, correspondence for clients).  But this was different: it was a check for $1.87.  Here’s the check: Now, I wasn’t … Continue reading →

Posted in IRS | Comments Off on Why Did the IRS Send Me a $1.87 Refund?

A Phish A Day…

Posted on July 26, 2024 by Russ

Phishing is something tax professionals see daily.  We have antivirus and malware protection installed throughout our network and on all workstations, but I still see a phishing email a day.  Here’s one: There are a number of clues that this … Continue reading →

Posted in Tax Preparation, Taxable Talk | Comments Off on A Phish A Day…

The Real Winners of the 2024 World Series of Poker

Posted on July 18, 2024 by Russ

I was not one of the 10,112 entrants (a record field) in the 2024 Main Event of the World Series of Poker. Yesterday saw the winner being crowned. He received a cool $10 Million, but how much of the winnings … Continue reading →

Posted in Gambling | Tagged | Comments Off on The Real Winners of the 2024 World Series of Poker

US-Russia Tax Treaty Mostly Suspended Beginning August 16th

Posted on June 21, 2024 by Russ

The IRS announced today that based on a request from Russia last August that most of the US-Russia Tax Treaty will be suspended beginning August 16, 2024.  One impact: Russians who have gambling income in the US that’s subject to … Continue reading →

Posted in Gambling, International | Comments Off on US-Russia Tax Treaty Mostly Suspended Beginning August 16th

Is IRS Correspondence Broken?

Posted on May 30, 2024 by Russ

As a tax professional with quite a few clients, our clients receive IRS notices. Much of this correspondence (not all, but a large portion) has to be responded to.  My three most recent cases are making me think there are … Continue reading →

Posted in IRS | Tagged , | Comments Off on Is IRS Correspondence Broken?

The “Joy” of 1959 Technology

Posted on May 13, 2024 by Russ

Clients of ours (call them John & Betty) just received their IRS refund.  It was off by $1,250, exactly the amount of an estimated tax payment they made.  They made that payment using IRS Direct Pay (and I saw their … Continue reading →

Posted in IRS | Tagged | Comments Off on The “Joy” of 1959 Technology

Surviving a Residency Audit

Posted on May 7, 2024 by Russ

A few years ago, one of my clients (call him Bob) moved from California to Nevada.  He then had a very large capital gain (but while a Nevada resident).  At the time, I advised him that a residency examination (audit) … Continue reading →

Posted in California, Nevada | Comments Off on Surviving a Residency Audit

An Identity Protection Unit Saga: Part 6

Posted on April 22, 2024 by Russ

When last we left the saga of my client and his tax year 2020 refund, we were waiting for a call from the Taxpayer Advocate Office.  Well, we received the callback and my client’s refund check was issued last Friday.  … Continue reading →

Posted in IRS | Tagged , | Comments Off on An Identity Protection Unit Saga: Part 6

Bozo Tax Tip #1: Use a Bozo Tax Professional!

Posted on April 12, 2024 by Russ

The IRS recently highlighted that taxpayers should choose tax professionals wisely; I agree.  I’ve had this as a Bozo Tax Tip in the past, but a new client highlighted this issue for me.  In the previous iteration of this “tip,” … Continue reading →

Posted in Tax Preparation | Tagged , | Comments Off on Bozo Tax Tip #1: Use a Bozo Tax Professional!