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Tax loot left in the loo …

June 2, 2006

And other strange tax tales. Got you to click, didn’t it?!


It’s Friday and, thanks to a late start today and an interruption for an automotive repair errand, I’ve still got a lot of stuff to finish up. So rather than try to come up with some weighty post, I’ve
decided to close out this blog week with some of the goofier things
going on the tax world.


Let’s start overseas.


The hubby, doing some Web surfing this morning, ran across this Associated Press story from Vienna, Austria:


A tax collector in the southern Austrian city of Graz accidentally left
$28,000 in cash in a black attaché case he placed on top of a toilet in
the men’s room of a local restaurant Thursday, police said. By the time
he realized it was missing and went back, the cash was gone,
authorities said. As of press time, no one had turned up with the
money, prompting police in the city 120 miles south of Vienna to issue
an appeal for its return.


Thanks, sweetie, for the tip (and the catchy headline). But I don’t
really want to know what you were looking for when you came upon this
story!

Now to the proverbial eternals of life: death and taxes.

Taxalicious brings us a video of a determined IRS collector in pursuit of Emil Gorbachov, who committed the fatal crime of not paying his taxes.
Interesting camera angles and a thrilling soundtrack keep the short
film, if not Emil, on its toes. Your ticket to the mini movie is
here.


A not-quite-MPAA-warning: I don’t know which is more disturbing, the
ultimate outcome or the shorts worn by the ostensible IRS agent.


If golf, not movies (tax-themed or otherwise), is your recreational
choice, then you might want to start working on the accuracy of your
tee shot so you can participate in the Augusta Hills Golf Course closest-to-the-pin contest.

The
golf club in Albion, Ind., is holding the competition in September. Get your $1,000 entry fee in by Aug. 1.


Yikes! One grand?

Yes, but if you win, you never have to leave the course. It’s yours.


Bob Placido, owner of Augusta Hills for the
last 19 years, has decided to retire. But rather than sell the course, he opted
for the giveaway contest.


"Whoever wins will assume a golf course that is debt free with the
taxes paid through fall of this year," Placido told the Indianapolis Star. "I’ve been in the golf business since 1965. That’s
long enough. It’s time to go."


The Deer Run Corporation will conduct the contest as long as it gets at least
1,500 entrants, but no more than 2,500, by the August deadline. It will award the prize to the
contestant whose one shot of a standard golf ball comes closest to "a
target selected by the corporation."


In addition to the mortgage-free, 18-hole regulation golf course on
approximately 125 acres, the winner gets its irrigation system,
clubhouse, maintenance building, storage building and a substantial
collection of golf and course-related equipment.

You can find details on the course and contest here. And thanks to TaxProf for the
tip and for looking into the tax issues the contest poses for both
Placido and the eventual winner.

Loo_sanction_orig_cover_2
Tying it all together: You’ve just read about a short "action" film, a perennial retirement pursuit, and tax troubles in a European bathroom. Now, in a manner of speaking, here’s a book that pulls those elements (lavender highlights below) all together.

In "The Loo Sanction," author Trevanian gives us the next daring adventure of art historian and international counter assassin Dr. Jonathan Hemlock, last seen, among other things, scaling the Alps in "The Eiger Sanction."

Now, Hemlock’s attempt at retirement in Great Britain is interrupted by a blackmail scheme that forces him to flush out the bad guys.

And for you wordsmiths out there, Jason Kottke plumbs, as tastefully as possible, the etymology of "loo" here.

Calling all Carnival fans: One final note before we head into the weekend. The Tax Carnival will
debut here on Monday, June 5. Get your submission in by 11 p.m.
CDT Saturday (details here). See ya on the tax midway!

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The More Tax Posts tab at the top of this page will take you to, well, more tax posts. You also can search below for a tax topic. 

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TAX-SAVVY WAYS 
TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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