Roger Russell

While tax experts are divided on the immediate future of tax rates as we approach the fiscal cliff (the combination of scheduled tax rate increases and spending cuts by the government), the consensus is that rates will indeed rise precipitously.

Although the legislative trends decided by next month’s elections won’t be known until the lame duck session of Congress and later, based on what we know now it may be a good time to consider selling a small business.

Are you upset at the new tax prep franchise in the strip mall down the street that is siphoning off some of your return business?

With one debate already in the books, we’re not really any closer to knowing what taxes will be in the books, or not, come January. In fact, when the ball drops on New Year’s Eve, we may still need a crystal ball to tell us in what direction we are headed.

Government debt hit a record $16 trillion last week, accompanied by the usual calls for tax increases to help plug the gap between revenue and expenditures. But for those who believe that the way out of our deficit includes raising taxes, there’s a cautionary study that suggests otherwise.

Few criminal tax cases are defended successfully, with the government boasting a conviction rate of 94 percent. So when the IRS used information from three jailed former boiler room operators to go after Boca Raton CPA John Miller, it didn’t look good for Miller.

If there’s a shortage of tax preparers for the 2014 season, it won’t be for lack of education providers.

The focus of most taxpayers on their income taxes, small business taxes and potential estate taxes, with a gripe now and then about local sales taxes, misses a big chunk of the portion they pay every year: property taxes.

Every year, it seems that the tax profession is faced with year-end legislation, late forms and radical changes that add to the complexity and headache of preparing a return. Despite all of the above, most practitioners realize that it’s the complexity and confusion that drives new clients their way.

A proposal by the Obama Administration regarding grantor trusts has estate planners on edge as they ponder its implications.

It’s not just the presence of taxes, it’s the anticipation of the future tax landscape that plays a decisive role in decisions made by small businesses.

For Americans long subject to the complexities and confusions of the Internal Revenue Code, it may come as a shock to find that some believe the U.S. to be a tax haven.

When a taxpayer receives a notice of intent to levy, the taxpayer can pay the amount due and file a claim for refund, request an audit reconsideration, file for an offer in compromise or request a collection due process hearing.

Well, now we know the answer. The individual mandate in the Patient Protection and Affordable Care Act, which the Administration has variously said was a both a tax and not a tax, is, in fact, a tax. That’s what the Supreme Court has called it, as a reason for finding it constitutional.

I’m no fan of complexity, in taxes or any other area. But, as in most situations, there’s a silver lining.

While I’ve not yet been the victim of identity theft, the possibility—and the consequences—are beginning to loom.

There is often a disconnect between what a court directs a taxpayer to do and what is permitted under the Tax Code.

While most observers are reluctant to forecast any tax legislation prior to the November elections, there is legislation pending in Congress that, if enacted, would be a boon to small business and help jumpstart the economy.

The Federal Register publishes a quarterly list of persons who have renounced their citizenship. Known as the "name and shame" list, the most recent one, published on April 30, contains the name Eduardo Saverin, co-founder of Facebook. While the move may have nothing to do with Friday's Facebook IPO, it could result in significant tax savings for Eduardo.

Maybe we need tax education as well as tax reform. No matter how simple the Tax Code becomes, it might not be simple enough.