Author Archives: Russ

IRS to Tax Professionals: Rules for Thee but Not for Us

Posted on October 8, 2015 by Russ

Today I received an alert from the IRS that a new version of Publication 4557 is available. (At this point, only the web version of the publication is available.) Interestingly, the IRS notes the following: To safeguard taxpayer information, you … Continue reading →

Posted in IRS | Tagged , | 2 Comments

Tax Relief for South Carolinians

Posted on October 7, 2015 by Russ

South Carolina was devastated by a 1000-year storm. Much of the state has been declared a disaster area. A friend of mine who lives in Columbia tweeted pictures that show the absolutely ridiculous amount of flooding. The IRS has offered … Continue reading →

Posted in South Carolina | 2 Comments

Well, That’s One Way to Avoid ClubFed

Posted on October 5, 2015 by Russ

Peter Mizioch pleaded guilty on September 4th to one count of preparing a false tax return. Mr. Mizioch was allowed by the sentencing judge to go on a Caribbean cruise. Mr. Mizioch is now answering to a higher authority — … Continue reading →

Posted in IRS, Tax Evasion | 1 Comment

There Is No Magic OID Process

Posted on October 4, 2015 by Russ

One of my clients handed me a 1099-OID today. That’s income to him, duly noted on his now-filed tax return. A different individual decided to promote a very different OID plan, an “O.I.D. Process.” He’ll be spending nearly six years … Continue reading →

Posted in Tax Fraud | 1 Comment

Uber and Under-the-Table Kickbacks

Posted on October 4, 2015 by Russ

The ride sharing services Uber and Lyft are now active here in Las Vegas. There’s an interesting article on Buzzfeed about how Uber and Lyft got into Nevada. One of my clients asked me a question: Does he have to … Continue reading →

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IRS Computers Won’t be Completely Shutting Down Over Columbus Day Weekend

Posted on October 4, 2015 by Russ

Next Monday, October 12th, is Columbus Day. That’s a federal holiday. In prior years the IRS computer systems completely shut down over the three-day weekend. There was no efiling, no pulling of transcripts, no anything in dealing with the IRS. … Continue reading →

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TIGTA: “IRS Can’t Track International Correspondence.” IRS: “So What.”

Posted on September 30, 2015 by Russ

The nature of my practice is such that I have a relatively large number of clients who live outside the United States. When one of my expatriate clients gets an IRS notice, I shudder. The IRS offices that handle international … Continue reading →

Posted in International, IRS | Tagged | 1 Comment

How to Wynne Your Money Back in Maryland

Posted on September 29, 2015 by Russ

Earlier this year the US Supreme Court ruled that Maryland had to issue full tax credits–including the county add-on tax–to individuals facing double taxation (typically, Maryland residents who earned income taxed in other states). Kay Bell in Don’t Mess With … Continue reading →

Posted in Indiana, Iowa, Maryland, Michigan, North Carolina, Pennsylvania, Wisconsin | Tagged | 1 Comment

Neymar Tax Evasion Investigation Continues; Judge Freezes $48 Million of Assets

Posted on September 27, 2015 by Russ

Neymar is one of the world’s best soccer players. Given an injury to fellow Barcelona player Lionel Messi, there’s pressure on Neymar and his teammates to step up. Earlier this year it was disclosed that Neymar was being investigated for … Continue reading →

Posted in International, Tax Evasion | Tagged | 1 Comment

Cash & Carry Your Way to Tax Evasion

Posted on September 27, 2015 by Russ

Kasia’s Bakery is a very successful bakery in New Britain, Connecticut. Its owner, Marian Kobryn, emigrated from Poland to the US to escape political oppression. He opened the bakery, and it’s been a great success. The bakery operates on a … Continue reading →

Posted in Connecticut, Tax Evasion | 1 Comment