Category Archives: IRS

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Posted on May 10, 2015 by Russ

It’s a topic that, frankly, bores the media. It’s a topic that the current Administration would love to go away. It’s a topic that should never have arisen. It’s a topic that underlies the current crisis that impacts the IRS. … Continue reading →

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Not All Private Delivery Services Are Equal

Posted on May 6, 2015 by Russ

Back when I was getting my MBA I did a team project about a California company that offers private delivery services in just Southern California. They were competing against FedEx, and they built a regional network. Recently I received an … Continue reading →

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Don’t Call Us Continues

Posted on April 22, 2015 by Russ

Back in the 1970s Saturday Night Live had this sketch of Lily Tomlin reprising her role as Ernestine the phone company operator (from Laugh-In): That’s how I feel about calling the IRS. I have three matters I need to get … Continue reading →

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Bozo Tax Tip #1: Let Your IRS Notice Age Like Fine Wine!

Posted on April 12, 2015 by Russ

My brother is a wine connoisseur. As all my friends know, I’m anything but a wine aficionado. But I have learned one difference between fine wine and a notice from the IRS: Wine can age very well but IRS notices … Continue reading →

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Bozo Tax Tip #2: The Eternal Hobby Loss

Posted on April 9, 2015 by Russ

The goal of must businesses is to make money. There aren’t many businesses that can lose on each sale and make it up in volume. In fact, I don’t know of any. But I digress…. So let’s take Sam and … Continue reading →

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Bozo Tax Tip #3: Just Don’t File

Posted on April 8, 2015 by Russ

We’re running some repeats, but there is some new Bozo material coming. It’s just that people keep trying the same things over and over again. It’s tough to avoid the tax system. There are currency transaction reports (cash transactions of … Continue reading →

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Bozo Tax Tip #4: Procrastinate!

Posted on April 8, 2015 by Russ

Today is April 8th. The tax deadline is just seven days away. What happens if you wake up and it’s April 15, 2015, and you can’t file your tax? File an extension. Download Form 4868, make an estimate of what … Continue reading →

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Bozo Tax Tip #7: Be Suspicious!

Posted on April 2, 2015 by Russ

As I write this (in March), I just got off the phone with one of my clients. He’s had a very good year, and has $100,000 in cash to deposit. He had been keeping the money as cash because he … Continue reading →

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Bozo Tax Tip #8: Be Frivolous!

Posted on April 1, 2015 by Russ

I’d love to be frivolous during tax season. But the inbox is full, the piles of paper don’t go anywhere unless I move them, and my next day off is April 16th. I can get a good laugh when I … Continue reading →

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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 →

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