So here’s something I didn’t know: You buy a lot with a house on it, and you want to completely rebuild. But instead of paying to have the house razed, you can donate it to your local fire department, who will then burn it down for practice. And you get a nifty tax deduction for your efforts. At least that was the plan when ESPN college football analyst Kirk Herbstreit tried to do that in 2004.

Nope, said the IRS — not only will we deny your claim for a $195,394 tax deduction on the house, but we’re charging you an additional $134,606 in back taxes and interest. So the ex-Ohio State quarterback and his wife, Allison, are suing our government and its army of bespectacled number crunchers for that combined amount. Read more…

An IRS seminar held in the MGM Grand last week (!) somehow turned topics to legalizing sports books across the nation. We’re fairly certain IRS employees don’t set this policy, so it seems an odd time to bring up the topic. Still, it’s nice to have a totally unbiased discussion about taxable income, allocation of government resources, and legalized gambling in a casino with IRS officials.

(If you want to legalize gambling, talk to Senator Geary)

However, that wasn’t the part that struck us the most about this get-together. Noted sports book gambling expert Arne Lang felt the worst effect of legalized gambling wouldn’t be an increase in crime, poverty, or short-sighted government cash grabs that generally weaken surrounding economies.

Nope; Arne Lang worries that more people will be mean to athletes on the Internet if gambling was legalized across the nation. We’re trying the best we can, Arne! We can only snark so quickly!

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