May 16, 2013 |
MADRID -- In another blow to Spain's scandal-plagued royal family, a judge Thursday cleared the way for a new investigation into King Juan Carlos' youngest daughter, rejecting her appeal to have her tax returns shielded from further scrutiny. The princess, Infanta Cristina, was initially subpoenaed to testify in an investigation of her husband, a former Olympic handball champion who is accused of embezzling millions of dollars in public funds. Cristina, 47, last month became the first direct descendant of a Spanish monarch to be summoned to appear before a criminal court, though the decision was later reversed.
May 6, 2013 |
Lauryn Hill was sentenced to three months in federal prison Monday for failing to pay taxes on an estimated $1.8 million in income. U.S. District Court Judge Madeline Cox Arleo handed down the sentence in Newark, N.J., ruling that the Grammy-winning singer would have to complete an additional three months under house arrest followed by nine months of supervised release and ordering her to pay a $60,000 fine, according to TMZ, the Associated...
CALIFORNIA | LOCAL
April 28, 2013
Join us at 9 a.m. as we talk with Times reporter Garrett Therolf about a Times' report on Teens Happy Homes, a private foster care agency responsible for hundreds of children. A decade ago, a team of Los Angeles County auditors delivered a damning assessment of the agency. Agency workers bought beer and cigarettes with public funds intended for mistreated children, auditors found. It billed the state and county more than $100,000 for care it never provided. Employees wrote checks to themselves worth thousands of dollars and kept no receipts.
April 23, 2013 |
Lauryn Hill's sentence in her tax-evasion case has been postponed to May 6 because the singer had not yet paid restitution on the money she owes. She now has a two-week reprieve to gather the funds. The eight-time Grammy winner appeared in a New Jersey federal court Monday to receive her sentence on charges of not paying taxes on $1.8 million in earnings. She had entered a guilty plea to three counts of tax evasion in June 2012, admitting that she intentionally failed to file tax returns in 2005, 2006 and 2007.
April 15, 2013 |
As procrastinators scramble Monday to file their federal income taxes, some who reside in the well-off enclaves of Los Angeles or San Francisco may be bracing for an audit by the Internal Revenue Service. That's according to a new study from the National Taxpayer Advocate, which scoured IRS data to pinpoint five metropolitan areas where small business owners are more prone to dodging taxes. Other top tax-cheating hubs are the District of Columbia, Houston and Atlanta. Communities near the five cities were called out as well.
April 12, 2013 |
WASHINGTON -- President Obama's income continued its recent creep downward in 2012, along with his effective federal income tax rate, according to the tax returns released Friday by the White House. The president and first lady reported a joint adjusted gross income of $608,611, down from almost $790,000 in 2011. The Obamas paid $112,214 in federal taxes in 2012, for an 18.4% effective income tax rate. In recent years, the president's income has slipped as sale of his books appear to have tapered off. On a form noting his profession as “author,” the president reported $273,000 in income from book sales, a 40% drop since last year.
March 29, 2013 |
Stephen Baldwin on Friday admitted in court he hadn't paid New York state income taxes for a period of three years, and then walked away a free man - albeit one who still owes $300,000 in back taxes, and has to repay them fast. Under the term of Baldwin's deal, the "Celebrity Apprentice" contestant will stay out of jail so he can earn money to pay his debt. If he pays the money back within a year, his record will be wiped clean; otherwise he's looking at a five-year probation sentence, during which he has to repay the cash. "Unfortunately, I got some really bad suggestions and advice ... from lawyers and accountants," he told reporters outside court in New City, N.Y. He said he never intended to avoid paying taxes.
March 13, 2013 |
About 600,000 H&R Block customers face lengthy delays for tax refunds after a filing error by the Kansas City, Mo.-based tax preparer, the Internal Revenue Service said late Tuesday. The filing blunder affects customers -- mainly students -- who filed Form 8863 for education credits. Many were upset the delay would affect applications for federal financial aid for college. "The IRS is continuing to review the situation and working with affected software companies to assist in the processing of these tax returns," said IRS spokeswoman Michelle Eldridge, in a statement.
March 13, 2013 |
Some taxpayers splurge on big-screen televisions or pay off their credit cards with their tax refund, while others, like Brandon Frank, count on it to pay rent. The 25-year-old former construction worker from Michigan and father of three may have to wait as long as six weeks before he sees his refund, because of a filing error by H&R Block. "I was counting on it for rent," said Frank, who's been unemployed since October and is attending college. "I'm probably going to have to go to one of the cash-advance places, because the money I was expecting isn't there.
March 11, 2013 |
A former manager of an H&R Block tax preparation office in Van Nuys pleaded guilty to charges that he used the identities of the firm's clients to file false tax returns and get thousands of dollars in fraudulent refunds. Damon Charles Dubose, 39, of North Hills pleaded guilty on Monday to one count of wire fraud and one count of filing false claims with the Internal Revenue Service. Dubose used his access to client records to file unauthorized tax returns for at least 12 people, generating more than $48,000 in fraudulent refunds, federal prosecutors said.