Category Archives: IRS

Amnesty, FBAR Deadline Less Than A Week Away

Posted on September 17, 2009 by Russ

FBAR. Just four letters, but put together it’s become a very interesting tax story this summer. Well, that story will play out as summer turns to fall next week. The IRS’ limited amnesty on criminal prosecutions of late filers of … Continue reading →

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Deadline Day

Posted on September 14, 2009 by Russ

Tuesday, September 15th is a big tax deadline. 3rd quarter estimated payments for individuals are due; 3rd quarter estimated payments for corporations are due; Calendar year corporate returns on extension are due (both C Corporations and S Corporations); Partnership and … Continue reading →

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Updates From the Blogosphere

Posted on September 6, 2009 by Russ

Over the past week there’s been some interesting stories posted around the tax Blogosphere: The IRS posted a page titled “Keeping Good Records Reduces Stress at Tax Time.” I cannot stress this enough. If you have good records (especailly good … Continue reading →

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Another Battle in the Spanish-American War?

Posted on August 9, 2009 by Russ

Remember the Maine? That was the battle cry for the Spanish-American War. That war was fought in 1898 and was funded by an excise tax on a then luxury, telephone service. Move forward 90 years. The excise tax was still … Continue reading →

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More on FBAR

Posted on July 20, 2009 by Russ

The Foreign Bank and Financial Account Reporting (FBAR) has been making the news. Today’s Wall Street Journal has an article detailing some of the issues with the filing requirements. Additionally, the New York State Bar Association isn’t happy with the … Continue reading →

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I Hope He’s Not Your IRS Auditor

Posted on July 20, 2009 by Russ

The headline says it all: “IRS agent arrested for threats: Treasury Department investigates Valencia man for filing false tax returns”. Yelling “I’m going to kill you” to Treasury Agents isn’t likely the best strategy in the world. As the article … Continue reading →

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Mailbag Time

Posted on July 12, 2009 by Russ

Lots of questions have come in during the past few weeks. Here are a few that might interest you. 1. I recently settled a lawsuit for wrongful termination, and was awarded $100,000 after attorney fees of $50,000. How much of … Continue reading →

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IRS, UBS In Negotiations

Posted on July 12, 2009 by Russ

The Wall Street Journal is reporting that the IRS and Swiss bank UBS will jointly request a postponement of a court hearing on Monday in Miami. The Journal is also reporting that UBS and the IRS are “…deep in talks … Continue reading →

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Foreign Financial Account Reporting Due

Posted on June 24, 2009 by Russ

If you have a foreign financial account, or have signature authority over such an account, you must file Form TD F 90-22.1. That form is due on June 30th. Unlike every other IRS deadline, this one is a receipt deadline. … Continue reading →

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Should Tax Preparers be Regulated?

Posted on June 21, 2009 by Russ

A debate is heating up among tax bloggers on whether or not tax preparers should be regulated. Some bloggers, such as Peter Pappas, think they should be. Others, including Joe Kristan, think they shouldn’t be. I happen to practice in … Continue reading →

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