Wednesday, November 29, 2006

Rep. Bruce Long on Video

The Channel 10 link is in the title. Just click. Then go to the tab for "Today's Most Popular." It's the last one.

I've spoke with those more familiar with Schedule C which Rep. Long has never filed with the IRS (according to his ex-wife & a deposition). This business has been owned for appx. 15 yrs. If you don't make a profit, you may not file this form. And you could file late. However, constantly having a business which doesn't make a profit can result in problems after a few no-profit filings. The IRS will examine you more closely (audit) and question the legitimacy of your business. This then can result in local & state problems if the IRS does not consider that your business is legitimate.

My guess is that he's too busy to speak with the press now and is very occupied with his accountant & the IRS. A sad situation which may turn out to be so much more. Stay tuned.