Category Archives: IRS

Standard Mileage Rates Increase on July 1st

Posted on June 23, 2011 by Russ

When a manager gets a vote of confidence in baseball, he should usually start worrying that his job is in danger. After the IRS earlier this year stated that they would not increase the mileage rates, I began to believe … Continue reading →

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Myriad of Foreign Accounts Claim Two Victims

Posted on June 22, 2011 by Russ

The Department of Justice press release reads like a Who’s Who of foreign tax havens. Sean and Nadia Roberts of Tehachapi, California (near Bakersfield) run the National Test Pilot School in Mojave. They’ve also pleaded guilty to one count of … Continue reading →

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Unhappy Clients of Roni Deutch Talk to the Bee

Posted on June 21, 2011 by Russ

If you want to follow the Roni Deutch case, I strongly urge you to read the coverage in the Sacramento Bee. For example, on Sunday they spoke with several unhappy clients of Ms. Deutch. For the most part it appears … Continue reading →

Posted in California, IRS | Tagged | 3 Comments

When You Get that $110,000 Refund That’s Not Yours….

Posted on June 20, 2011 by Russ

What happens when you get a tax refund direct deposited in your bank account? Well, you spend the money (or invest it, etc.). But what if that isn’t your refund? Well, that’s a problem. Earlier this year I reported on … Continue reading →

Posted in IRS, Orange County | Tagged | 1 Comment

Son of FBAR Now Looks Uglier for 2012

Posted on June 15, 2011 by Russ

The IRS posted a revised draft of Form 8938, the “Son of FBAR.” I’d normally note the highlights; however, in this case let’s look at the lowlights: First, the form is far more extensive than the original draft. Let’s assume … Continue reading →

Posted in IRS | Tagged | 3 Comments

New Circular 230 Released: Welcome RTRPs!

Posted on June 1, 2011 by Russ

Ah, the acronym. In the world of tax preparation there are Enrolled Agents (EAs), Certified Public Accountants (CPAs), Attorneys (the acronym fails me here), and the new Registered Tax Return Preparers (RTRPs). The IRS regulates tax professionals who practice before … Continue reading →

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FBAR Delayed for Some Corporate Signers

Posted on June 1, 2011 by Russ

I, along with other tax professionals, liken the FBAR to going after jaywalkers with shotguns. Well, a few fewer jaywalkers need worry about the FBAR for this year. The IRS announced today that individuals in two categories will not need … Continue reading →

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Pound Wise, Penny Foolish

Posted on April 21, 2011 by Russ

Robert Flach states this morning that using certified mail, return receipt requested, when mailing tax returns to tax agencies is a waste of time and money. But the extra you spend to get a return receipt is a total waste … Continue reading →

Posted in IRS, Taxable Talk | 2 Comments

Bozo Tax Tip #2: Procrastinate!

Posted on April 14, 2011 by Russ

Today is April 14th. Tomorrow is, well, was, the tax deadline. Thanks to a holiday in the District of Columbia we all have an extra three days to get the returns done. What happens if you wake up and it’s … Continue reading →

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Bozo Tax Tip #4: Use a Bozo Accountant

Posted on April 11, 2011 by Russ

Here’s another Bozo Tax Tip that keeps coming around. The problem is, the Bozos don’t change their stripes. In any case, here are some signs your accountant might be a Bozo: * He’s never met a deduction that doesn’t fit … Continue reading →

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