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Tax Laws

September 12, 2012
Re "Tax planning? Or tax cheating?," Opinion, Sept. 7 The subheadline ("Laws that encourage corporate tax havens are bad for America") suggests an indictment against tax law and those who wrote it. But Edward D. Kleinbard's argument is really against those (Republicans and businesspeople) who take full legal advantage of the law. A valid case can be made that the law should be different; unfortunately, Kleinbard goes after the corporations that are governed by the law, calling them tax cheats.
April 9, 2014 | By Shan Li
As the deadline for tax season nears, a study shows that many tax preparers are prone to errors when preparing returns for their clients. The Government Accountability Office released the report this week based on visits to 19 randomly selected tax preparers. Of the 19 tax professionals visited, 17 calculated the wrong refund amount, the GAO said. One gave a customer $52 less than the proper refund, for example, while another over-calculated the amount by $3,718. PHOTOS: World's most expensive cities A dozen of the tax preparers failed to report certain income such as cash tips, while three claimed a child as a dependent who was ineligible.
January 15, 1987 | DEBRA WHITEFIELD
QUESTION: Have you ever come across any figures that estimate just how much time we taxpayers waste every year preparing our income tax returns? And does anyone really think tax reform is going to bring the preparation time down?--E.I. ANSWER: Runzheimer International, a Wisconsin consulting firm that specializes in cost-of-living data, estimates that the average American taxpayer spends 22 hours a year preparing tax forms.
April 1, 2014 | By Stuart Pfeifer
Popular home rental website Airbnb will start paying San Francisco's 14% hotel tax, addressing a key regulatory concern. David Hantman, Airbnb's head of global public policy, said in a blog post that "we'll soon be collecting and remitting taxes on behalf of our hosts in San Francisco. " The announcement follows Airbnb 's agreement to start paying hotel taxes in Portland, Ore. The San Francisco Chronicle reported that the move will potentially add millions of dollars of revenue to the city, one of the most popular vacation destinations in the world.
January 13, 1990 | BILL SING
No question, figuring out the tax laws is a royal pain in the you-know-what. And just when you figure you've got current rules licked, those folks in Congress and the Internal Revenue Service slap on some new doozies. Sure enough, they've done it again. Several changes have taken effect for 1989 or 1990 tax returns. Some are generally beneficial, such as those affecting certain fringe benefits, savings bonds and business use of cars.
February 24, 1985 | Dick Turpin
The 51.8% January surge in apartment construction reported last week by the Commerce Department stems from 1981 tax law revisions as well as stability of interest rates. Housing starts in the multifamily sector set a hot pace, getting the new year off to a surprising 14.9% increase in all housing starts, the best since May, 1983, even as start-ups for single-family homes dropped by 4%. Large apartment construction projects benefit most from tax breaks created four years ago.
January 5, 1987 | United Press International
Republican Gov. George Deukmejian, urging simpler state tax laws and renewing his opposition to across-the-board tax hikes, today was sworn in for a second term by his former law partner, state Supreme Court Justice Malcolm Lucas.
November 22, 1988 | JAN HERMAN, Times Staff Writer
The Wells Fargo Foundation, which gave $150,000 to South Coast Repertory Theatre in Costa Mesa in 1987, is being investigated by the California attorney general's office to determine whether the foundation violated tax laws with that grant and others. Deputy Atty. Gen.
October 26, 1986 | JOHN M. BRODER, Times Staff Writer
California economists expect the initial impact of the broad new federal tax reform program to be negative: Construction activity will slow, manufacturers will suffer and consumers won't see the cash from their tax cuts for at least a year. Paradoxically, all that bad news could be good news for the Southern California employment picture. You almost have to be an economist yourself to follow the serpentine reasoning behind this conclusion. Bear with us.
February 5, 1989
Local property owners who want to sell real estate to Japanese investors would be wise to brush up on the latest Japanese tax laws. "Just as we wouldn't buy or sell a piece of property without considering possible tax consequences, neither do Japanese investors," says Roger Moliere, executive vice president of FLIC (USA), a real estate investment firm with offices in Los Angeles, New York and Tokyo.
December 2, 2013 | By Jim Puzzanghera and David G. Savage
WASHINGTON - Inc. and other online retailers suffered a legal setback on Cyber Monday as the Supreme Court turned away their challenge to a New York law that requires Internet companies to collect sales taxes. Delivered on one of the year's busiest online shopping days, the court's decision is expected to accelerate the move by states to try to capture the taxes due on online purchases made by their residents. The court's refusal to take up the issue also increases pressure on Congress to settle the long-standing dispute between online and conventional bricks-and-mortar retailers and to enact legislation standardizing online sales tax collection.
November 1, 2013 | By Tracy Wilkinson
MEXICO CITY - Hardly had the ink dried on President Enrique Peña Nieto's contentious $14-billion tax plan when big business - especially the powerful maquiladora industry on Mexico's border with the U.S. - raised a loud voice of protest, vowing to fight a package that opponents say will cripple industry. Major business groups, after weeks of unsuccessful lobbying, said Friday they would mount legal challenges to block the plan, which won final congressional approval Thursday and would raise taxes on border enterprises including the thriving maquiladoras, as the export-centered assembly plants near the border are known.
May 23, 2013
Re "Apple's U.S. tax shelters faulted," May 21 French novelist Honoré de Balzac once wrote, "The secret of a great success for which you are at a loss to account is a crime that has never been found out, because it was properly executed. " That statement describes Apple Inc. perfectly, except it has finally been found out. Thankfully, Sen. Carl Levin (D-Mich.), chairman of the Senate Permanent Subcommittee on Investigations, seeks to expose Apple's fraudulent tax policies.
May 22, 2013 | By David Horsey
Apple, America's richest, most innovative consumer technology company, is also the most creative in hiding billions of dollars in profits from the taxman, according to congressional investigators. But on Tuesday in testimony before the Senate Permanent Subcommittee on Investigations, Apple CEO Tim Cook pointed out that his company's creative tax sheltering, far from being illegal, is made possible by the loophole-ridden tax laws of the United States.  Cook told the senators that Apple paid a $6-billion tax bill to the federal government last year.
May 21, 2013 | By Jim Puzzanghera
WASHINGTON -- Apple Inc. Chief Executive Tim Cook and other company officials will be in a legendary hot seat Tuesday as they try to defend the company's tax practices -- in front of Sen. Carl Levin. The veteran Michigan Democrat chairs the Senate's Permanent Subcommittee on Investigations and is known for his aggressive and lengthy interrogation of witnesses he brings before the panel after his staff conducts detailed investigations. The subcommittee's latest probe found that Apple used a web of foreign subsidiaries to shelter billions of dollars in overseas income from U.S. taxes.
May 9, 2013 | By Robin Abcarian, Los Angeles Times
Stephanie Nordlinger, who lives in a modest Baldwin Hills tract home, has been reading with interest the news stories about computer magnate Michael Dell and his low, low property taxes. Last week, the Times reported that Dell has saved more than a million dollars a year in taxes on a landmark Santa Monica hotel by exploiting a gaping legal loophole in the rules that govern how Proposition 13 is applied. By bringing his wife and two investment advisors into the 2006 deal for the Fairmont Miramar Hotel, my colleagues Jason Felch and Jack Dolan reported, Dell has so far been able to keep his taxes based on the hotel's 1999 assessed value of $86 million, rather than the $200 million he paid.
February 9, 1987 | JEANNINE STEIN, Times Staff Writer
Burton Rockoff has seen the future under the new tax laws, and it isn't pleasant. "I anticipate 1987 to be an impossible year," the accountant with J. Arthur Greenfield and Co. in Westwood said. "People are aware and concerned about the new tax laws, especially about tax planning. People want to know if they're going to have to change their style of living. Some of them are quite nervous."
December 20, 1985 | From a Times Staff Writer
Gov. George Deukmejian on Thursday urged the Assembly to approve legislation that would relieve foreign corporations of paying millions of dollars yearly under California's unitary method of collecting business taxes, saying that only quick action will stave off a federal effort to repeal state unitary tax laws. "I think it would be wise to bring it up immediately and let the Assembly vote on it," Deukmejian told reporters after a luncheon speech. U.S. Sen. Pete Wilson (R-Calif.
January 23, 2013 | By Chris Dufresne
LA JOLLA -- Media members from all over the world packed the press tent at Torrey Pines on Wednesday to hear star golfer Phil Mickelson speak about...taxes. Yes, it's already been a strange week at the Farmers Insurance Open. Following up on a statement he issued late Monday night, Mickelson offered a personal apology for comments he made about California's tax system. "You know, I've made some dumb, dumb mistakes and, obviously, talking about this stuff was one of them," Mickelson said.
January 22, 2013 | Chris Dufresne
LA JOLLA - Phil Mickelson, an expert at applying backspin on the golf course, issued a statement clarifying comments he made Sunday indicating he might move out of California because of the state's income tax laws. "I'm like many Americans who are trying to understand the new tax laws," Mickelson's statement read in part. "I certainly don't have a definitive plan at this time, but like everyone else I want to make decisions that are best for my future and my family. Finances and taxes are a personal matter and I should not have made my opinions on them public.
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