Disney CEO Eisner Sues Accountants for Alleged Tax Errors
Los Angeles (Bloomberg) -- Walt Disney Co. Chief Executive Michael Eisner sued his accountants, alleging they miscalculated his California taxes for 1996 through 1999. Eisner and his wife, Jane, claim that New York-based Executive Monetary Management Inc. failed to realize that California law differed from federal law in the treatment of stock donations to private foundations. The California Franchise Tax Board in July 2001 told the Eisners to pay about $3 million in additional taxes and interest, according to the suit. The Eisners' complaint seeks compensation for the $3 million as well as legal fees.
Los Angeles (Bloomberg) -- Walt Disney Co. Chief Executive Michael Eisner sued his accountants, alleging they miscalculated his California taxes for 1996 through 1999. Eisner and his wife, Jane, claim that New York-based Executive Monetary Management Inc. failed to realize that California law differed from federal law in the treatment of stock donations to private foundations. The California Franchise Tax Board in July 2001 told the Eisners to pay about $3 million in additional taxes and interest, according to the suit. The Eisners' complaint seeks compensation for the $3 million as well as legal fees.