December 21, 2012 |
A feature allowing California taxpayers to use their income tax returns to make donations toward arts programs will disappear in 2013. Forms for the 2010 and 2011 tax years had a checkoff box for the California Arts Council as one of 18 options for targeted giving to various state-funded causes. But it won't be an option any longer. The state law that added the grant-making Arts Council to the mix for the two years specified that the box would vanish if the option didn't bring in at least $250,000 from tax returns filed for the 2011 tax year.
December 6, 2012 |
Stephen Baldwin, self-billed as "the kookiest of the Baldwin Brothers," was arrested in New York on Thursday and charged with failure to file state income taxes for three years. Baldwin was arraigned for repeated failure to file tax returns for the years 2008, 2009 and 2010, according to the Rockland County district attorney, who said the youngest of the Baldwin Brothers owes more than $350,000 in taxes and penalties. The 46-year-old "Celebrity Apprentice" alum and talk-radio host pleaded not guilty and was released on his own recognizance.
November 27, 2012 |
In New York next month, Gustavo Dudamel will receive the award as musician of the year for 2013 from the publication Musical America. In Los Angeles he might well have been the bargain of the year for 2010. The recent filing of the Los Angeles Philharmonic's federal tax return for 2010-11 shows that Dudamel earned $985,363 in salary and benefits for 2010, his first full calendar year on the job. In comparison, at least 12 conductors and executives earned $1 million or more from nonprofit arts organizations in the United States that year.
November 4, 2012 |
Here is a roundup of alleged cons, frauds and schemes to watch out for. Hurricane Sandy -- The Justice Department and FBI are warning consumers to be careful when making donations intended to help victims of Sandy. Here are some other tips: --Do not respond to spam emails or click on any links in the emails and instead seek out reputable organizations on their websites. Most reputable charities have websites that end with “.org” instead of “.com.” --Do not respond to high-pressure solicitations; reputable organizations do not use coercive tactics.
CALIFORNIA | LOCAL
October 18, 2012 |
Anaheim police detectives didn't have to go far to find the latest victims of an apparent embezzlement scam. For five years, Cindy Ann Su'a sat in the Anaheim police union as officer manager, quietly stealing more than $360,000 from the organization's accounts, prosecutors charged Wednesday. She altered her paychecks, sometimes doubling her pay, and paid her bills from the Anaheim Police Assn.'s bank accounts, Senior Deputy Dist. Atty. Marc Labreche said. "She was stealing our money and hiding the mail so we'd never find out … it was a shock," said Kerry Condon, the union president and a veteran homicide detective, who prosecutors credit with uncovering the alleged scheme.
October 5, 2012 |
WASHINGTON -- Uncle Sam is in your debt -- to the tune of more than $16 trillion and counting. But Americans have been voluntarily contributing to help pay the government's IOU, donating in excess of $7 million in the just-completed fiscal year, despite a tough economy. Lawmakers want to make it even easier for patriotic folks to contribute. The House recently approved and sent to the Senate legislation that would establish a check-off box on income tax returns for voluntary donations to pay down the debt.
September 22, 2012 |
With just 46 days to go, the presidential race has entered the hammer-and-tongs phase. From here on, it's a day-to-day messaging war, with President Obama and challenger Mitt Romney taking dramatically different views on how the fall campaign conversation should be framed. Here's a quick look at the topics that each of the two sides would like to take up in the 12 days before Oct. 3, the date of the first presidential debate. POLITICAL CARTOONS: Horsey's Top of the Ticket Obama would like to talk about: The 47%: Romney's videotaped comment about the “victim” 47% of Americans who are dependent and “unwilling to take responsibility for their lives.” Romney has tried to remold his language (secretly videotaped in May)
September 21, 2012 |
LAS VEGAS - Mitt Romney will release his 2011 tax return Friday, as well as a summary of his returns for the past two decades, the campaign announced. In 2011, Romney and his wife, Ann, reported $13.7 million in income, mostly investments, and their tax rate was 14.1%, or $1.9 million. The couple donated $4 million to charity, but didn't take the full deduction to remain true to a Romney statement in August that he paid at least 13% in taxes in recent years, according to a blog post by Brad Malt, the trustee of the Romneys' blind trust.
September 21, 2012 |
Mitt Romney paid $1.9 million in federal taxes in 2011 on income of $13.7 million, an effective rate of 14.1% that reflects the Republican presidential candidate's dividends, capital gains and other returns that are assessed at some of the lowest tax rates. Romney's tax return, which he released Friday, showed that he boosted his effective tax rate by not declaring all of the $4 million in charitable contributions that he made during 2011, instead only reporting $2.3 million. By doing so he stayed consistent with an earlier public statement that his tax rate for the year would not drop below 13%. The return does little to fundamentally change the perception of Romney's finances.
September 18, 2012 |
WASHINGTON -- The end is near. That is, the final days of the congressional session before the election. Reelection-minded lawmakers are scrambling to bring their pet causes up for votes before hitting the campaign trail. Among those causes: creating a check-off box on tax returns for voluntary contributions to pay down the national debt and recognizing the sites that developed the atomic bomb . Congress may have been labeled a do-nothing institution, racked by bitter partisanship, but it's nonetheless managed to pass legislation - even if that legislation has dealt with matters less consequential than the looming "fiscal cliff.