Author Archives: Russ

Form 1042 Filing Deadline is Monday, March 16th

Posted on March 12, 2015 by Russ

Most people are aware of Form 1099; that’s the form you send individuals in the US to report various kinds of income. There’s a similar form used when you’re sending paperwork to non-Americans: It’s Form 1042-S. These forms must be … Continue reading →

Posted in IRS | Tagged | 1 Comment

Corporate Tax Deadline is Monday, March 16th

Posted on March 12, 2015 by Russ

The deadline for calendar year corporations (both C-corporations and S-corporations) to file their 2014 tax returns is Monday, March 16th. If you’re not ready to file, simply file an extension. This can be done electronically, or download Form 7004 and … Continue reading →

Posted in IRS | Tagged | 1 Comment

“Give us a tax code that is simple enough for taxpayers to comply with and simple enough for the IRS to administer, and you’ll dramatically reduce fraud.”

Posted on March 12, 2015 by Russ

It’s not brain surgery. Tom Giovanetti hits the nail squarely on the head in his op-ed in The Hill. Mr. Giovanetti notes that keeping the voters happy is why fraud prevention hasn’t been a big issue. But it is now, … Continue reading →

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You Have to Have an Unreimbursed Loss to Claim a Casualty Loss

Posted on March 8, 2015 by Russ

On Monday, February 23rd it was raining as I left for the gym. As I got to the gym, the road felt funny–slicker than in a normal rain. I realized that it was snowing. Now, our “blizzard” wasn’t crippling or … Continue reading →

Posted in IRS | Tagged | 1 Comment

Upon Further Review…

Posted on March 8, 2015 by Russ

Remember Rashia Wilson? How could anyone forget someone who brilliantly wrote on her Facebook page: “I’m Rashia, the queen of IRS tax fraud,” Wilson said May 22 on her Facebook page, according to investigators. “I’m a millionaire for the record. … Continue reading →

Posted in Uncategorized | 1 Comment

I’m Sure This Will Endear Him To The Judge

Posted on March 8, 2015 by Russ

You’re about to be sentenced on 20 felony convictions. You wouldn’t just flee the country, would you? Well Alan Rodrigues tried to do just that. Mr. Rodrigues was convicted last May on charges that he led a national scheme to … Continue reading →

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Online Gambling Addresses Updated for 2015

Posted on March 5, 2015 by Russ

NOTE: This list has been superseded by the 2016 list.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 … Continue reading →

Posted in Gambling | 3 Comments

IRS Proposes Session Method for Slot Machine Play and a Revision to the Regulations on Gambling Information Returns

Posted on March 3, 2015 by Russ

This morning the IRS proposed a new Revenue Procedure for individual taxpayers to determine wagering (gambling) gains and losses from slot machine play. Additionally, the IRS proposed an update to the regulations on information returns for gambling from slot machines. … Continue reading →

Posted in Gambling | 1 Comment

Don’t Call Us

Posted on March 2, 2015 by Russ

Today I attempted to call the IRS Practitioner Priority Service (PPS). I had an outstanding issue I needed to resolve. I didn’t get through. I’m used to being on hold for two hours when calling the IRS. Unfortunately, the IRS … Continue reading →

Posted in IRS | Tagged | 3 Comments

It Was the Sisterly Thing To Do

Posted on March 1, 2015 by Russ

Three Wisconsin sisters allegedly decided that tax fraud and identity theft should stay in the family. They’ve been accused of filing 2,000 phony returns by the Wisconsin Department of Revenue. The Staten sisters (Sharon, Tawanda, and Angela) face 22, 28, … Continue reading →

Posted in Tax Fraud | Tagged | 1 Comment