Category Archives: IRS

Hurry Up and Wait

Posted on April 20, 2026 by Russ

Every year clients ask us this question: I paid my tax via IRS Direct Pay (or you had my account debited).  Why hasn’t my payment come out yet? The answer to this question is simple, and there’s nothing your tax … Continue reading →

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Bozo Tax Tip #1: If It Sounds too Good to be True…

Posted on April 10, 2026 by Russ

…it probably is.  That’s how the cliche goes, and it’s generally accurate.  If someone tells you: If you invest $10,000 in [whatever], you magically get a $50,000 deduction; If you buy $20,000 of Brazilian accounts receivable, you can get a … Continue reading →

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Bozo Tax Tip #4: Procrastinate!

Posted on April 8, 2026 by Russ

Today is April 8th. The tax deadline is just seven days away. What happens if you wake up and it’s April 15, 2026, and you can’t file your tax? File an extension. Download Form 4868, make an estimate of what … Continue reading →

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Bozo Tax Tip #5: 300 Million Witnesses Can’t Be Right!

Posted on April 7, 2026 by Russ

For tax bloggers like myself, the saga of Richard Hatch was a godsend. His antics were, well, remarkable.  One tip I can give any celebrity: Be careful about your taxes. The IRS loves going after Bozo tax celebrities. So here’s … Continue reading →

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Bozo Tax Tip #8: The $0.78 Solution

Posted on April 2, 2026 by Russ

With Tax Day fast approaching it’s time to examine yet another Bozo method of courting disaster. And it doesn’t, on the surface, seem to be a Bozo method. After all, this organization has the motto, Neither rain nor snow nor … Continue reading →

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Bozo Tax Tip #9: Honey, You Don’t Exist!

Posted on April 1, 2026 by Russ

I had just completed the return for a long-time client, and he asked the question, “Does my being married change my return?” I said it did, and asked when he got married; he responded, “Last Valentine’s Day.”  It must be … Continue reading →

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Bozo Tax Tip #10: Email You Social Security Number, ITIN, or EIN!

Posted on March 31, 2026 by Russ

It’s time for our annual rundown of Bozo Tax Tips, strategies that you really, really, really shouldn’t try. But somewhere, somehow, someone will try these. Don’t say I didn’t warn you! This is a repeat for the thirteenth year in … Continue reading →

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Why This Tax Season Is Likely to be Slow and Agonizing for All

Posted on January 29, 2026 by Russ

Matt Metras, a fellow tax professional, shared a chart on X (formerly Twitter) noting IRS personnel cuts by function between January 25, 2025 and December 18, 2025: I’ll take just three areas that I regularly deal with: Taxpayer Advocate Service … Continue reading →

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Paying the Piper: Qualified Opportunity Zones

Posted on January 23, 2026 by Russ

When Qualified Opportunity Zones (QOZs) began (with the Tax Cuts and Jobs Act (TCJA) in 2018), they were a way of deferring capital gains received.  This year–the 2026 tax year–is when taxpayers who invested in QOZs will be paying the piper. … Continue reading →

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Hurry Up and Wait 11 Years

Posted on January 20, 2026 by Russ

An interesting Court of Appeals decision came out on Friday: Sirius Solutions, LLLP v Commissioner.  Before getting to the decision and what it means (and does not mean), I wanted to comment about timing of court decisions. This case deals with the 2014-2016 … Continue reading →

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