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Tax Forms

August 20, 2011 | By Lauren Williams, Los Angeles Times
Along with the regular catalogs, donation requests and bills, Heidi Patricola received a special delivery this week: A tax form sent from her Corona del Mar restaurant was returned — 21 years after it was mailed. Pieces of the coffee-brown W-2 peeked out from the moth-nibbled edges. The crumbling envelope in a plastic slip also included an apology from the U.S. Postal Service for the late "return to sender. " "We were just amused, really," Patricola said. The Italian restaurant, Rothschild's, has been in the Reiss family for 35 years.
April 6, 2011 | By Sharon Bernstein, Los Angeles Times
Congress has repealed a tax provision that small businesses said would have buried them in paperwork and forced them to pay for hours of extra accounting services. The provision, passed last year as a way to raise money to pay for healthcare reform, would have forced all businesses to file special tax forms to report anyone with whom they did more than $600 worth of business in a given year. The repeal was welcomed by small-business owners and advocates across the nation, who had fought hard to push Congress and the White House to withdraw support from a measure that President Obama had initially favored.
February 21, 2011 | By Karen E. Klein
Dear Karen: Nearly 80% of my revenue comes from one company on a 1099 basis. Will the IRS consider me that company's employee? Answer: The IRS uses a checklist to evaluate whether individuals are independent contractors or employees, said Keith Hall of the National Assn. for the Self-Employed. If your major client controls the "who, where, when and how" of your work schedule, you're probably an employee for tax purposes. The company should withhold payroll taxes and send you a W2 form.
September 13, 2010 | By Karen E. Klein
Dear Karen: Does the healthcare law require me to send out more 1099s? Answer: A provision of health insurance reform that goes into effect in 2012 requires companies to issue a tax form 1099 to any vendor with whom they spend $600 or more annually on goods or services. It is an attempt to close an estimated $300-billion tax gap on unreported income, said Gregg Wind, a certified public accountant with Wind & Stern in Los Angeles. Because companies currently issue 1099s mainly to independent service providers, accountants have warned that this provision could double accounting costs for small firms.
May 17, 2010 | Sharon Bernstein, Los Angeles Times
Small businesses fear that they may face expensive new payroll paperwork requirements as part of little-known tax provisions in President Obama's healthcare overhaul. Starting in 2012, the law would require all businesses to file special forms with the Internal Revenue Service not just for freelancers who work for them, as in the past, but also for stores, vendors and anybody else from whom they buy more than $600 in goods or services over the course of a year. The new tax provisions were intended to help collect from businesses and individuals who do not report all of their income, said Michael Mundaca, assistant secretary for tax policy at the Treasury Department.
December 21, 2009 | By Cyndia Zwahlen
California is targeting service businesses in its latest bid to collect more of the estimated $1.1 billion in taxes that go unpaid each year on out-of-state purchases. California is taking the step, which it said will bring in an additional $631 million over the next three fiscal years, to bridge what is projected to be a widening gap between use taxes owed and those paid as both Internet sales and the service sector continue to grow. "It's $1 billion a year now, but the concern is it's going to grow," said Annette Nellen, an accounting and finance professor at San Jose State University who writes frequently about tax issues.
April 14, 2009
Re "Cutting politics out of the cuts," Opinion, April 10 Robert Krol implies in his Op-Ed article that we should avoid tax increases and implement budget cuts instead. A lot of times, the difference between tax increases and budget cuts is an imaginary one. When we cut the budget, we implicitly tax people who have to cover the difference. A case in point is educational cuts: What sounds like avoiding a tax increase is really taxing the parents who have to contribute to fundraisers to keep the schools running.
January 21, 2009
Re "Controller 'pulls trigger,' suspends state tax refunds," Jan. 17, and "Gov. says budget is No. 1 goal," Jan. 16 Can I charge the state of California penalties for its late payment of my tax refund? My family also has budget problems, so I would like to suspend all state tax payments at this time and offer an IOU that is free of interest and penalties. When my wife and I decide how to solve our budget problem, I would be happy to send what we owe in taxes. Steve Shaevel Woodland Hills -- So California Controller John Chiang has decided to suspend state tax refunds.
January 17, 2008 | From the Associated Press
The state agency that prints tax forms said a mistake on some of them could cost taxpayers. The Franchise Tax Board said Wednesday that early versions of Schedule CA (540), California Adjustments, tells filers to enter information from the wrong federal tax box. The form is used to make adjustments to federal adjusted gross income and claim itemized deductions.
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