Tax News

CCH (cch.taxgroup.com) reports:

  Beginning May 1, 2009, and ending July 31, 2009, taxpayers that participate in the City of Los Angeles' tax amnesty program may avoid tax penalties of up to 40% that are imposed as a result of a taxpayer's nonreporting, underreporting, underpayment, or nonpayment of the following Los Angeles municipal taxes:

  -- business taxes;

  -- telephone, electricity, and gas users taxes;

  -- commercial tenants occupancy taxes

  -- transient occupancy taxes; and

  -- parking occupancy taxes.

  To participate, taxpayers must file an application between May 1, 2009, and July 31, 2009, and must pay all outstanding taxes, including interest and any applicable fees, other than penalties. In addition, the taxpayer must file completed tax statements or returns for all periods and taxes for which the taxpayer has not previously filed a tax statement or return and/or file completed amended tax statements or returns for all periods for which the taxpayer underreported the taxes due. Taxpayers who have an outstanding business tax liability may enter into an installment agreement if unable to pay the delinquent taxes in full.

  Additional information, including applications, penalty waiver forms, and answers to frequently asked questions can be found on the City of Los Angeles Department of Finance's Web site at
http://www.lacity.org/finance/amnesty/index.html.

  Subscribers can view the full text of the amnesty provisions.

Ordinance No. 180, 598, effective April 19, 2009, and applicable as noted above