Author Archives: Russ

Arbitrage Is Legal, But You Better Pay the Taxes

Posted on June 21, 2015 by Russ

Let’s say you are 100% certain that the price of a certain article will increase from $0.20 to $0.62 in a few weeks. Can you purchase a stock of that at $0.20 each and then sell them later at $0.62? … Continue reading →

Posted in Tax Evasion, Tennessee | 1 Comment

Form 8300 and Poker

Posted on June 17, 2015 by Russ

I’ve posted before on staking, but someone asked me the following question: I’m a professional [poker player] and am going to be staked for the High Roller One Drop Tournament [a $111,111 buy-in tournament]. I’m going to be handed the … Continue reading →

Posted in Gambling, IRS | 1 Comment

June 15th Tax Deadlines

Posted on June 15, 2015 by Russ

There are two deadlines today. First, individuals outside the United States must make file their tax returns (or an extension) today. Second, today is the due date for second quarter estimated payments (both for individuals and corporations). These are both … Continue reading →

Posted in Uncategorized | Comments Off on June 15th Tax Deadlines

Neymar Wins Championship but Faces Tax Evasion Investigation

Posted on June 7, 2015 by Russ

On Saturday Barcelona beat Juventus 3-1 in Berlin, Germany to win the Champions League Final in soccer (or football as it’s known everywhere but here). Neymar, from Brazil, is one of Barcelona’s star players. Neymar might have enjoyed the game … Continue reading →

Posted in Tax Evasion | Tagged | 1 Comment

Another Las Vegas Preparer Gets In Trouble Over the Foreign Earned Income Exclusion

Posted on June 7, 2015 by Russ

The Foreign Earned Income Exclusion is pretty simple to understand. An individual who is either a bona fide resident of a foreign country or is outside of the United States for 330 days out of a 365-day period can exclude … Continue reading →

Posted in Las Vegas, Tax Evasion | 1 Comment

The BEA Responds, or Making IRS Customer Service Look Normal (Bad)

Posted on June 2, 2015 by Russ

On Sunday I penned the post, “Making IRS Customer Service Look Good.” I now need to take that back. Why? I was greeted at 7am this morning by a phone call from an analyst from the Bureau of Economic Affairs. … Continue reading →

Posted in BEA, IRS | 1 Comment

I’m Shocked, Shocked! That a Chicago Attorney may have Committed Tax Evasion Related to Corruption

Posted on May 31, 2015 by Russ

There’s one thing about Illinois politics: Both Democrats and Republicans tend toward corruption. After all, which of the past few governors haven’t gone to prison? The DOJ news release on the indictment of Daniel Soso makes for interesting reading. Sure, … Continue reading →

Posted in Illinois, Tax Evasion | 1 Comment

Chipco President Gets 10 Months

Posted on May 31, 2015 by Russ

Back in March I reported on the president of Chipco, John Kendall. Chipco closed a couple of years ago, and most of us in the poker world thought it had to do with the end of the poker boom. That … Continue reading →

Posted in Tax Evasion | Comments Off on Chipco President Gets 10 Months

Making IRS Customer Service Look Good

Posted on May 31, 2015 by Russ

It’s hard to make the IRS’s customer service look good. If you get through–and it’s very difficult to reach the IRS, and you will usually be on hold for more than an hour before you do–there’s a good chance the … Continue reading →

Posted in BEA | 1 Comment

Surprise! You Heard About that May 29th Filing Deadline, Right?

Posted on May 27, 2015 by Russ

You’re looking at the headline and wondering what I’m drinking. There’s no May 29th tax deadline, right? Well, yes, that’s correct; however, there is a May 29th government filing deadline that will impact some business owners. The Bureau of Economic … Continue reading →

Posted in BEA | 1 Comment