Category Archives: Uncategorized

Vacation

We’re on vacation for the next week.  If something earth-shattering in the tax world happens while I’m relaxing, I’ll take time out to post on it. Otherwise, enjoy the fine bloggers listed in the blogroll on the right. I’ll be … Continue reading

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When 5 ½ Months Seems Fast

Last week I complained about the IRS taking more than 5 ½ months to process an amended return. Well, I may have some clarity now on IRS processing time and it ain’t pretty. On February 4th clients of mine mailed … Continue reading

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If the Lawyers Had Followed the Rules…

Two marijuana dispensaries were audited by the IRS. Because of Internal Revenue Code § 280E (which prohibits all deductions for carrying on a business of trafficking in a controlled substance, which marijuana is), the first dispensary was looking at a … Continue reading

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Caesars Bankruptcy: An Update

When last we left the bankruptcy of Caesars Entertainment Operating Company (CEOC) (nearly four months ago), a complete reorganization wasn’t ruled out but Caesars was still in control of the bankruptcy. Over the last four months: In mid-March, a bankruptcy … Continue reading

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Bozo Tax Tip #8: Ignoring California

Perhaps I should call this Bozo Tax Tip “Forming a California Trust.” Why? Let me explain. Let’s assume John and Jane, two California residents, form a trust to benefit their children, Ann and Bob. Ann lives in Florida; Bob resides … Continue reading

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Frivolity Has a Price: $19,837.50

The Tax Court doesn’t like frivolous arguments by petitioners. Indeed, if you bring a frivolous argument to Tax Court you can be fined up to $25,000. But what happens when an attorney deliberately pushes a frivolous argument for his clients? … Continue reading

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“I Bestow on You the Title of Taxpayer in Good Standing…”

A bit of humor to start the day. Courtesy of Spidell’s Tax Season Tribune, I discover that a video game has decided to emulate the Internal Revenue Service. Now, it’s been years since I played video games. Apparently the game … Continue reading

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Yes, Start Your 2016 Mileage Log Now!

I’m going to start the new year with a few reposts of essential information. Yes, you do need to keep a mileage log: Monday is the first business day of the new year for many. You may have resolved to … Continue reading

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Ghost Hunter, Pheasant Hunter, or Deduction Hunter: No Matter, He Loses at Tax Court

My favorite Tax Court judge, Mark Holmes, is out with an opinion where Ghostbusters makes an appearance. And once again keeping records would win the day but perhaps that would take a supernatural effort from today’s petitioner. David Laudon is … Continue reading

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June 15th Tax Deadlines

There are two deadlines today. First, individuals outside the United States must make file their tax returns (or an extension) today. Second, today is the due date for second quarter estimated payments (both for individuals and corporations). These are both … Continue reading

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