September 12, 2012 |
Help wealthy people dodge taxes. Go to prison. And cap it off by getting $104 million for ratting out your former clients to the IRS. In one of the largest whistle-blower cases in U.S. history, the federal government is paying that amount to a globe-trotting banker who once smuggled a client's diamonds in a toothpaste tube to avoid detection by tax authorities. The financier, Bradley Birkenfeld, later confessed his transgressions and helped the Internal Revenue Service nab thousands of Americans who had stashed money overseas to avoid paying taxes.
August 17, 2012 |
WASHINGTON -- The Obama campaign, undeterred by Mitt Romney declaring its interest in his tax returns "small-minded," is ready to make a deal. In a letter to the Romney campaign Friday, Obama campaign chief Jim Messina asks for a total of five years' worth of Romney's tax returns, from 2007 through 2011. In return, Messina pledges the campaign will put down its sword on the issue -- but only to a point. "I commit in turn that we will not criticize him for not releasing more -- neither in ads nor in other public communications or commentary for the rest of the campaign," Messina wrote to Matt Rhodes , his counterpart on the Romney campaign. Messina's letter, released to reporters, points out that the request only asks Romney for three more years of returns beyond what the GOP presidential candidate has provided, and already pledged to provide -- a request Team Obama calls "surely not unreasonable.
August 16, 2012 |
Ann Romney gets her say Thursday night about the increasingly urgent - or from her perspective, unreasonable - demands for the release of her family's tax returns. After briefly dropping off the political radar, questions that have dogged presumed GOP presidential nominee Mitt Romney are back: How much has he paid over the last decade in federal taxes? Will he prove it by releasing more than two years of returns? On the trail Thursday, The Times' Michael Finnegan reported that Romney swatted down the accusation (as advanced and re-advanced by Senate Minority Leader Harry Reid)
July 14, 2012 |
To say the Obama campaign is undeterred by Mitt Romney's harsh criticism of its attacks of his business record would be an understatement. The president's reelection effort launched a dramatic new television advertisement Saturday that sets Romney's halting rendition of "America the Beautiful" from a January campaign stop in Florida against visual charges about his personal wealth and alleged outsourcing by the investment firm he led, Bain Capital, with the sharp conclusion that Romney is "not the solution, he's the problem.
CALIFORNIA | LOCAL
May 21, 2012 |
SACRAMENTO — Gov. Jerry Brown defends his soak-the-rich tax proposal as just. And besides, he says, it's popular with the non-rich. Never mind that it's the opposite of reform, that it would make California's roller-coaster tax system even more volatile. But maybe things do have to get worse before they get better. The state treasury is starved for more revenue. The governor is trying to avoid massive cuts to K-12 schools and more swats at the universities. It's probably not practical to wait for reform.
August 27, 2010 |
Ex-KPMG senior manager John Larson's conviction for selling illegal tax shelters was upheld by a U.S. appeals court. But the court ordered a recalculation of his $6-million fine to below $3 million. The three-judge panel in New York said the prosecution's evidence supported the jury's finding that the shelters were "marketed solely as tax-avoidance schemes. " The convictions of two co-defendants were also upheld. The court threw out Larson's fine, saying U.S. District Judge Lewis Kaplan hadn't followed controlling case law in making his calculation.