Category Archives: IRS

Your Mileage Log — Start It Now (2014 Version)

Posted on January 2, 2014 by Russ

I’m going to start the new year with a few reposts of essential information. Yes, you do need to keep a mileage log: Today is the first business day of the new year. You may have resolved to keep good … Continue reading →

Posted in IRS | Tagged | 6 Comments

2013 Tax Offender of the Year

Posted on December 31, 2013 by Russ

It’s time once more for that most prestigious of prestigious awards, the 2013 Tax Offender of the Year. The winner of this award must do more than just cheat on his or her taxes. It has to be special; it … Continue reading →

Posted in IRS, Taxable Talk | 3 Comments

Capital Losses Must be Realized to be Taken

Posted on December 29, 2013 by Russ

With just two business days left in 2013, it may be time for you to harvest some capital losses. You’re allowed to take $3,000 of capital losses (in excess of capital gains). To be a capital loss, the transaction must … Continue reading →

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Business Tax Season to Begin on January 13th

Posted on December 21, 2013 by Russ

The IRS announced that they will begin accepting 2013 business tax return on Monday, January 13, 2014. This includes corporate tax returns (Forms 1120 and 1120S), partnership tax returns (Form 1065), trust and fiduciary tax returns (Form 1041), excise tax … Continue reading →

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FBI Agent Structures His Gambling Into ClubFed

Posted on December 19, 2013 by Russ

Law enforcement officers are supposed to know the law. That’s obvious, but one former FBI agent remembered half the law about currency (cash) deposits to his regret. Travis Wilson is a former Special Agent of the FBI. Agent Wilson liked … Continue reading →

Posted in Gambling, IRS | Tagged | 1 Comment

The Death of the Death Master File (Sort of)

Posted on December 19, 2013 by Russ

I’ve been complaining about the Death Master File for some time. This is a wonderful tool for identity thieves, allowing them to get all the details for an individual who has gone to the great beyond. As Jason Dinesen noted, … Continue reading →

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2014 Tax Season to Begin on January 31st

Posted on December 18, 2013 by Russ

The IRS announced today that 2013 personal tax returns will begin to be accepted on January 31st. Since most states piggyback onto the IRS’s computer system, most state returns can also begin to be filed on January 31st. The 2013 … Continue reading →

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IRS Provided Some Good Tips this Morning

Posted on December 17, 2013 by Russ

The IRS sends out tax tips, and this morning’s tips are worthy of a repeat: Start a filing system, make charitable contributions, and contribute to retirement accounts. The IRS first noted that individuals should start a filing system. If you … Continue reading →

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IRS E-Filing Closed Beginning on December 26th

Posted on December 17, 2013 by Russ

My software provider sent me an update tonight that the IRS e-filing system will be taking a holiday vacation beginning on December 26th and returning “sometime in early January; the exact date has not been announced.” This will impact business … Continue reading →

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It’s Nice to Know I’m Right, But…

Posted on December 14, 2013 by Russ

I’ve written on a few occasions about my battles with the IRS over incorrectly assessed Failure to File and Failure to Pay penalties. (See here, here, and here.) As I noted in the last post linked to above, I submitted … Continue reading →

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