Lucent to get $816 million tax refund
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Lucent Technologies Inc. said US tax officials have approved an $816 million refund to the company which could be recognized in its 2005 fiscal year, pending congressional approval.
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An article last Sunday in the special Your Taxes report about tips for preparing a tax return referred incompletely to the limit on claims for refundable alternative minimum tax credits resulting from the exercise of incentive stock options. While it is $5,000 under one calculation method, some taxpayers may claim more than that under a second method if their income is not too high.
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Computer maker sees to recover $8.6 million in pricing discounts granted to a hardware reseller in Tennessee.
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David Li, a former Dow Jones board member, has agreed to pay an $8.1 million civil penalty to settle charges of insider trading related to News Corp.âs  buyout offer, the S.E.C. said.
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Dutch food group Ahold's  former U.S. unit chief has agreed to pay $8 million to Ahold in a settlement related to the food group's $1.43 billion accounting scandal in 2003, Ahold said on Tuesday.
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(Corrects client asset figure in 8th paragraph of Jan. 4 story)     By Tim McLaughlin
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Alcatel-Lucent has agreed to pay $2.5 million in fines to resolve allegations that it provided Chinese government officials with free trips to Disneyland and other tourist attractions.The company has to pay $1 million to resolve U.S. Department of Justice charges that it violated the Foreign Corrupt Practices Act (FCPA) when providing travel and other perks to Chinese government officials, the DOJ said Friday. The company also agreed to pay a $1.5 million civil fine to the U.S. Securities and Exchange Commission.The agreement with the DOJ wraps up a multiyear investigation into whether Lucent, before its November 2006 merger with Alcatel, provided things of value to the Chinese officials and improperly accounted for the expenses.The company cooperated fully with the DOJ and SEC investigations, an Alcatel-Lucent spokeswoman said. The company is &quot;glad to put the matter behind us&quot; and looks forward to successful business dealings in China in the future, she said.From about 2000 to 2003, Lucent spent millions of dollars on more than 300 trips for Chinese government officials that included sightseeing, entertainment and leisure, the DOJ said. The trips were approved by senior Lucent Chinese officials, with the support of Lucent employees in the U.S.Lucent improperly recorded expenses for these trips and failed to implement internal controls to monitor the provision of travel and other things of value to Chinese officials, the DOJ said in a press release.In 2002 and 2003, there were 24 Lucent-sponsored trips for Chinese government customers, and at least 12 trips were primarily for sightseeing, the DOJ said. The people participating in these trips were senior government officials, including the heads of state-owned telecommunications companies in Beijing and the leaders of provincial telecommunications subsidiaries.Between 2000 and 2003, Lucent provided Chinese government officials with trips to the U.S., Europe, Australia and elsewhere that were often characterized as &quot;factory inspections&quot; or &quot;training,&quot; the DOJ said. By 2001, Lucent had outsourced most of its manufacturing and no longer owned factories for its customers to tour. These trips were primarily sightseeing tours to locations such as Disneyland, Universal Studios and the Grand Canyon, and typically lasted 14 days and cost between $25,000 and $55,000 per trip, the DOJ said.Lucent admits to all of this conduct in the agreement announced on Friday. The agreement also requires Lucent to adopt new or modify existing internal controls, policies and procedures. Those internal controls must ensure that Lucent keeps fair and accurate books, the DOJ said. The agency has agreed not to prosecute Lucent if it complies with all of the requirements in the agreement over a two-year term.
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Three California companies that paid no state income tax last year have been awarded &#36;5 million in tax refunds, angering critics who say the cash-strapped state cannot afford them.
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The Internal Revenue Service said the repeal of a tax on long-distance telephone service will be worth at least $60 to a family of four.
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For the second time in a year, telecommunications equipment maker Lucent Technologies Inc. is reducing benefits promised to thousands of its retirees.
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International Business Machines Corp.  saved about $1.6 billion last month by using a corporate tax loophole that has since been closed, the Wall Street Journal reported in its online edition on Wednesday.
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Lucent Technologies Inc. LU.N, among  the world's largest makers of telecommunications equipment, on  Wednesday said quarterly earnings rose sharply, helped by  improvement in its wireless networks business and lower costs.
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Lucent Technologies, fresh off its first profitable year since 2000, has rewarded its top executives with hefty bonuses. Pat Russo, the Murray Hill- based company&#39;s chairman and chief executive
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Retailer Ahold reached an 8 million  euros ($9.85 million) settlement with Dutch public prosecutors  over charges of publishing false accounts.
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Taxpayers have already received almost $87 billion in income tax refunds this year, but many are neglecting to ask for a modest refund from a now defunct telephone tax.
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SAN JOSE, Calif. - Some 22 companies that paid no state income tax are slated to receive $82 million in tax refunds, including Conexant Systems Inc.
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Department store operator Bon-Ton Stores Inc.  on Wednesday reported a wider quarterly loss, hurt by an income tax charge, but reaffirmed its fiscal year earnings forecast.