Category Archives: IRS

How Not to Deduct 85,491 Miles

Posted on April 30, 2013 by Russ

Having resided in Southern California, I know you can put a lot of miles on your car in that area. One engineering teacher learned the hard way from Tax Court that a written mileage log is essential if you want … Continue reading →

Posted in IRS, Tax Court | Tagged | 1 Comment

Kudos to Kenneth Ryskamp

Posted on April 27, 2013 by Russ

Who is Kenneth Ryskamp? He’s a Senior Judge in the United States District Court for the Southern District of Florida. Judge Ryskamp was born in 1932, and has been a US District Court Judge since 1986 (and a Senior Judge … Continue reading →

Posted in IRS | Tagged , | Comments Off on Kudos to Kenneth Ryskamp

Bozo Tax Tip #1: Don’t Be Suspicious!

Posted on April 11, 2013 by Russ

As I write this (in March), I just got off the phone with one of my clients. He just did very well in a poker tournament, and won just over $11,000. He took the money in cash (rather than a … Continue reading →

Posted in IRS | Tagged , | 1 Comment

Bozo Tax Tip #4: Procrastinate!

Posted on April 8, 2013 by Russ

Today is April 9th. The tax deadline is just six days away. What happens if you wake up and it’s April 15, 2013, and you can’t file your tax? File an extension. Download Form 4868, make an estimate of what … Continue reading →

Posted in IRS | Tagged | 1 Comment

DC Circuit Upholds Injunction on Preparer Regulation

Posted on March 28, 2013 by Russ

There’s no loving for preparer regulation at the DC Circuit. In a terse three sentence order, the Court of Appeals for the District of Columbia refused to grant the IRS’s request for a stay of the court decision (Loving et. … Continue reading →

Posted in IRS | Tagged | 1 Comment

To Boldly Go Where No IRS Employee Has Gone Before…

Posted on March 24, 2013 by Russ

I’m not a huge fan of Star Trek. I may have met Wil Wheaton (Wesley Crusher on the sequel, Star Trek: The Next Generation), but I just don’t watch much television. Apparently, someone (or several someones) at the IRS are … Continue reading →

Posted in IRS | Tagged , , | 1 Comment

If You Want a World Series of Poker Bracelet…

Posted on March 12, 2013 by Russ

…You can get one at auction in Sacramento on April 4th. Jerry Yang, the winner of the Main Event of the 2007 World Series of Poker, is in tax trouble with both the IRS and California’s Franchise Tax Board. Back … Continue reading →

Posted in Gambling, IRS | Tagged | Comments Off on If You Want a World Series of Poker Bracelet…

If You’re a Sole Proprietor, Get an EIN…Now!

Posted on March 10, 2013 by Russ

Most business entities have an Employer Identification Number (EIN) that they use. An EIN is for a business what a social security number is for an individual: It’s their taxpayer identification number. Some sole proprietors must have EINs (if they … Continue reading →

Posted in IRS | Tagged | 1 Comment

When the IRS Changes the Rules Midstream in a Legal Matter…

Posted on March 7, 2013 by Russ

Janet Novack has an interesting post in Forbes. It revolves around the Offshore Voluntary Disclosure Program. The idea behind the OVDP is that a taxpayer who the IRS doesn’t know about who has (for example) secreted away funds in a … Continue reading →

Posted in IRS | Tagged , | 1 Comment

Did the IRS Write Law?

Posted on March 5, 2013 by Russ

I received a special e-news for tax professionals. It states the following: Federal budget sequestration has resulted in required cuts to certain credits and awards, effective March 1. These required cuts include a reduction to the refundable portion of the … Continue reading →

Posted in IRS | 1 Comment