Category Archives: IRS

Phish Got to Swim….

Posted on March 14, 2006 by Russ

A couple of weeks ago, I noted that phishers have started targeting people by claiming that you can receive a small tax refund. Just click on their link (to a phony IRS website), give out your information, and we’ll get … Continue reading →

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Spend the $4.50….

Posted on March 2, 2006 by Russ

When I send out a tax return to a client, and it has to be mailed to a tax agency, I always state, in my letter, “mail, using certified mail, return receipt requested….” Joe Kristan of Roth Tax Updates today … Continue reading →

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Go Phish.

Posted on February 27, 2006 by Russ

One of my clients called me this morning and asked about an email he received, purportedly from the IRS. I told him that, in general, the IRS doesn’t send out emails. The email he received told him that he had … Continue reading →

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Changed His Address…

Posted on February 21, 2006 by Russ

What happens when you don’t file your tax return, the IRS sends you notices to two different addresses (but you’ve moved), and then the IRS tries to put a lien on you? Today, the Tax Court ruled on such a … Continue reading →

Posted in IRS, Tax Court | 4 Comments

IRS Targets Share Lending

Posted on February 9, 2006 by Russ

According to this story [paid subscription required] in today’s Wall Street Journal, the IRS is targeting a technique used by highly paid individuals to defer capital gains taxes. The strategy is called “prepaid variable forward,” and is a hedging strategy … Continue reading →

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Ohio Is Traded…Again

Posted on January 19, 2006 by Russ

Last year residents of Ohio who made estimated payments sent their payments in the second half of the year to San Francisco (the Fresno IRS Service Center). Well, Ohio has been moved (again), now to the Kansas City Service Center. … Continue reading →

Posted in IRS, Ohio | 1 Comment

Virtual Profits = Taxes?

Posted on January 10, 2006 by Russ

The TaxProf Blog links to an extremely interesting article by Julian Dibbell on whether virtual profits in online multi-player games are taxable under the Internal Revenue Code. There’s also a link to a second article on CNET titled “The Tax … Continue reading →

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A Brief Note on Business Information Returns/Filings

Posted on January 3, 2006 by Russ

Now that we’re in 2006, it’s time for me to go back to work. First on the agenda will be business information returns/filings, such as W-2s and 1099s. These forms must be distributed by January 31st, but do not have … Continue reading →

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The Last Days of ’05

Posted on December 31, 2005 by Russ

With just two days left in 2005, there are only a few things that you can do today or tomorrow that have tax impacts. You could have a baby. Or you could give to charity (if you use a credit … Continue reading →

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I’m Too Cynical: 2005 In Review

Posted on December 23, 2005 by Russ

…Or so I’ve been told. But as I continue to age (a phenomenon that I’ve been assured will continue) I have begun to wonder if Mark Twain was correct, when he said, “Suppose you were an idiot and suppose you … Continue reading →

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