Category Archives: IRS

Beware: Lots of Incorrect IRS Notices

Posted on May 21, 2012 by Russ

A client of mine received a CP2000 notice from the IRS alleging that the taxpayer owes nearly $7,000. The IRS states that several stock transactions were not included on the return. My client calls me, I calm him down, and … Continue reading →

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Eight Sacked, Including Two from the NFL

Posted on May 1, 2012 by Russ

The storefront in North Miami cashed checks. There’s nothing that unusual in that. However, there were two major differences between the storefront in Miami and most check cashing locations: The store charged very high fees (35%-45%) but didn’t ask questions … Continue reading →

Posted in Florida, IRS | Tagged | 3 Comments

Bozo Tax Tip #1: Get Out of Town, Fast

Posted on April 15, 2012 by Russ

There’s an old saying: When the going gets tough, the tough get going. Well, with Bozos things work differently. “Oh my,” a Bozo thinks. “Tax Day is just a couple of days away. I’m completely unprepared. I know: I’ll go … Continue reading →

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Bozo Tax Tip #3: Procrastinate!

Posted on April 11, 2012 by Russ

Today is April 11th. The tax deadline is just four days away. Well, six, actually, since April 15th is a Sunday and April 16th is a holiday in the District of Columbia. What happens if you wake up and it’s … Continue reading →

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Bozo Tax Tip #4: Foreign Trusts

Posted on April 9, 2012 by Russ

By far the worst tax schemes in the view of the IRS are offshore (foreign) trusts. In fact, trusts of all sorts—domestic and foreign—are regularly abused. First, not all trusts are bad. Many trusts serve a legitimate purpose, such as … Continue reading →

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Bozo Tax Tip #7: The $0.45 Solution

Posted on April 4, 2012 by Russ

With Tax Day fast approaching it’s time to examine yet another Bozo method of courting disaster. And it doesn’t, on the surface, seem to be a Bozo method. After all, this organization has the motto, Neither rain nor snow nor … Continue reading →

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Bozo Tax Tip #8: Honey, You Don’t Exist!

Posted on April 3, 2012 by Russ

Another repeat, but it again popped up this past weekend. It’s springtime, and that means weddings. With weddings comes changes in tax status. Your marital status on December 31st determines your marital status for the year. If you are married, … Continue reading →

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Bozo Tax Tip #9: Just Don’t File

Posted on April 2, 2012 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 #10: We Don’t Need No Stinkin’ Employees (Especially Because We’re Lawyers)

Posted on April 1, 2012 by Russ

It’s time for our annual rundown of Bozo Tax Tips, strategies that you really, really, really shouldn’t try. But somewhere, somehow, someone will try these. Don’t say I didn’t warn you! From Joe Kristan of Roth Tax Updates I first … Continue reading →

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Things Have Changed Just a Bit Since 1943

Posted on March 28, 2012 by Russ

Back in 1943, Walt Disney released this short for the war effort. Back in 1943, it was the income tax to sink the Axis. Just five years later, Rex Stout wrote, A man condemning the income tax because of the … Continue reading →

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