Category Archives: Tax Preparation

That Was the Tax Season that Was

Posted on April 23, 2017 by Russ

April 15th, err, make that April 18th, has come and gone. Every Tax Season is different, and this one had its ups and downs. So let’s take a look at eight observations I have of the first part of the … Continue reading →

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Bozo Tax Tip #8: Lie to Your Tax Professional!

Posted on April 4, 2017 by Russ

Like almost all tax professionals, we use an Engagement Letter. The Engagement Letter has grown from one page to three pages. Some of this relates to items that my attorney wants on the document; some of the growth is from … Continue reading →

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Please Don’t Do This!

Posted on January 10, 2017 by Russ

Joe Kristan tweeted the following last weekend: When a taxpayer emails his IP-PIN letter as an unencrypted attachment after his ID has been stolen… pic.twitter.com/oZIdYMZGnE — Joe Kristan (@joebwan) January 8, 2017 As I was going through my emails this … Continue reading →

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The Time for Procrastination Is Over

Posted on September 6, 2016 by Russ

Labor Day, the unofficial end of summer, has come and gone. It even felt like Autumn this morning here in Las Vegas (it was below 70). For those who filed an extension and have waited to prepare their tax returns, … Continue reading →

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Bozo Tax Tip #2: Use a Bozo Accountant!

Posted on April 14, 2016 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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What Part of “Permanent Injunction” Didn’t You Understand?

Posted on March 6, 2016 by Russ

Last September, Gerardo Herrera found himself the target of the IRS and the US Department of Justice. Mr. Herrera owned a tax preparation business, El Lobo Multiservicios Professionales Inc. in Colorado. According to the indictment issued last September, Mr. Herrera … Continue reading →

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Same as Last Year Doesn’t Work

Posted on January 18, 2016 by Russ

Robert Flach has a post today where he notes the information that’s needed to prepare a tax return. I don’t have much to add to his excellent list (though I do need to see your W-2Gs, too). If you’re one … Continue reading →

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Monsters Under the Bed

Posted on October 25, 2015 by Russ

Two Florida tax preparers (I hesitate to use the word “professionals” based on what they’re accused of) are facing a lawsuit from the Department of Justice seeking a civil injunction to prevent them from owning a tax preparation firm and … Continue reading →

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That Was the Year that Was

Posted on October 18, 2015 by Russ

Last November I wrote about “The Horrible, No Good, Very Bad Upcoming Tax Season.” This definitely wasn’t the best tax season but it also wasn’t the worst (but it was close to the bottom). The four issues that I identified … Continue reading →

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It’s October 13th and I’m Still Not Ready to File my Taxes; What Should I Do?

Posted on October 12, 2015 by Russ

Somewhere, there’s a procrastinator wondering that exact question. He’s likely thinking, “I don’t have to do anything; I have until October 15th!” That’s not a good answer (with one exception [1]). First, most tax professionals will not be able to … Continue reading →

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