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Securing Charitable Contribution Deductions, Paul G. Schloemer 2017 Cedarville University

Securing Charitable Contribution Deductions, Paul G. Schloemer

Business Administration Faculty Publications

Issues regarding charitable contributions have been a frequent source of contention between the IRS and taxpayers - the charitable contribution deduction was identified as one of the most litigated issues in the National Taxpayer Advocate’s latest report to Congress.1 Thus, a review of the key issues taxpayers encounter in claiming this deduction is warranted.


Introduction To Animal Therapy And Its Related Tax Benefits, Claudia L. Kelley, Christopher K. Eller 2017 Appalachian State University

Introduction To Animal Therapy And Its Related Tax Benefits, Claudia L. Kelley, Christopher K. Eller

Journal of Counseling and Psychology

How are animals being used to improve the emotional and physical health of individuals? What are the tax implications associated with service and therapy animals? We examine these questions by providing an introduction to the subject of Animal Assisted Therapy, including how therapists and counselors are routinely using therapy animals in both individual and group treatment settings. Additionally, we discuss the potential tax savings that may be available to counselors and their clients who are using service and therapy animals. We also offer recommendations and guidance for counselors who wish to incorporate animal therapy into their treatment options.


Taxing Systemic Risk, Eric D. Chason 2017 William & Mary Law School

Taxing Systemic Risk, Eric D. Chason

University of New Hampshire Law Review

A tax on the harmful elements of finance—a tax on systemic risk—would raise revenue and also lower the likelihood of future crisis. Financial institutions, which pay the tax, would try to minimize its cost by lowering their systemic risk. In theory, a tax on systemic risk is perfect policy. In practice, however, this perfect policy is unattainable. Tax laws need clear definitions to be administrable. Our current understanding of systemic risk is too abstract and too metaphorical to serve as a target for taxation.

Despite the absence of a clear definition of systemic risk, academics and policy makers ...


European Platform Undeclared Work 2017 Platform Survey Report: Organisational Characteristics Of Enforcement Bodies, Measures Adopted To Tackle Undeclared Work, And The Use Of Databases And Digital Tools, Colin C. Williams 2017 University of Sheffield

European Platform Undeclared Work 2017 Platform Survey Report: Organisational Characteristics Of Enforcement Bodies, Measures Adopted To Tackle Undeclared Work, And The Use Of Databases And Digital Tools, Colin C. Williams

Colin C Williams

This report presents the main findings of the first online survey of members of the European Platform Tackling Undeclared Work. A total of 23 Member States responded.

Organisational characteristics of enforcement bodies

Undeclared work covers paid activities that are lawful as regards their nature but are not declared to public authorities so as to evade either payment of taxes, social security contributions and/or labour laws. In three-quarters of Member States, responsibility for these three forms of evasion lies in separate public authorities, with each having separate targets and key performance indicators (KPIs). The outcome is a departmental ‘silos’ approach ...


Addressing Personal-Income-Tax Manipulation With Tools From Psychology, Alex Rees-jones 2017 University of Pennsylvania

Addressing Personal-Income-Tax Manipulation With Tools From Psychology, Alex Rees-Jones

Penn Wharton Public Policy Initiative

In order to better understand the tax manipulation decision-making process—both legal uses of tax deductions and illegal tax evasion—this brief looks at the impact of gain/loss framing. Analysis of tax data confirms that tax decisions are influenced by “loss aversion.” For instance, taxpayers are more likely to pursue tax reduction activities when they make a loss smaller, as compared to when they make a gain larger. The brief looks at tools that policymakers have at their disposal for both deterring tax evasion and making exiting tax incentives maximally effective. The brief discusses instances when such gain/loss ...


Undeclared Economic Activities Of Croatian Companies Findings From A Representative Survey Of 521 Companies, Colin C. Williams 2017 University of Sheffield

Undeclared Economic Activities Of Croatian Companies Findings From A Representative Survey Of 521 Companies, Colin C. Williams

Colin C Williams

This report presents the findings of a survey on undeclared economic practices undertaken by Croatian companies. In order to obtain the rigorous evidence on undeclared work in Croatia, we previously investigated citizens’ experiences with undeclared work and the practice of envelope wages. With this representative survey of 521 companies, we focus on frequency of company engagement in the undeclared economy.


Under-Declaring Work, Falsely Declaring Work: Under-Declared Employment In The European Union, Colin C. Williams, Ioana Horodnic 2017 University of Sheffield

Under-Declaring Work, Falsely Declaring Work: Under-Declared Employment In The European Union, Colin C. Williams, Ioana Horodnic

Colin C Williams

Under-declared employment occurs when a formal employer pays a formal employee an official declared wage but also an additional undeclared (‘envelope’) wage in order to evade the full social insurance and tax liabilities owed. The aim of this study is to evaluate the prevalence, characteristics and distribution of this fraudulent wage practice in the EU28, to explain its existence, to provide an evidence-based evaluation of the effectiveness of different policy approaches for tackling it, and propose a set of policy recommendations.

Prevalence, characteristics and distribution of under-declared employment
To evaluate the prevalence, characteristics and distribution of under-declared employment in the ...


Before International Tax Reform, We Need To Understand Why Firms Invert, Michael Knoll 2017 University of Pennsylvania

Before International Tax Reform, We Need To Understand Why Firms Invert, Michael Knoll

Penn Wharton Public Policy Initiative

A wave of corporate inversions by U.S. firms over the past two decades has generated substantial debate in academic, business, and policy circles. The core of the debate hinges on a couple of key economic questions: Do U.S. tax laws disadvantage U.S.-domiciled companies relative to their foreign competitors? And, if so, do inversions improve the competitiveness of U.S. multinational firms both abroad and at home? This brief, summarizes both old and new research that views these questions through the lens of corporations’ global effective tax rates (ETRs), and finds that the stronger case seems to ...


Before International Tax Reform, We Need To Understand Why Firms Invert, Michael S. Knoll 2017 University of Pennsylvania Law School

Before International Tax Reform, We Need To Understand Why Firms Invert, Michael S. Knoll

Faculty Scholarship

A wave of corporate inversions by U.S. firms over the past two decades has generated substantial debate in academic, business, and policy circles.

The core of the debate hinges on a couple of key economic questions: Do U.S. tax laws disadvantage U.S.-domiciled companies relative to their foreign competitors? And, if so, do inversions improve the competitiveness of U.S. multinational firms both abroad and at home?

There is unfortunately little, if any, empirical work directly determining whether U.S.-based MNCs are currently tax-disadvantaged compared to their foreign rivals, or measuring the amount by which (if ...


Tackling Undeclared Work In Southeast Europe: Knowledge-Informed Policy Responses, Colin C. Williams 2017 University of Sheffield

Tackling Undeclared Work In Southeast Europe: Knowledge-Informed Policy Responses, Colin C. Williams

Colin C Williams

Ø  Undeclared work is socially accepted and widely practiced in Bulgaria, Croatia, and the FYR of Macedonia.
 
Ø  More than 1 in 5 adults in these countries acknowledge that they have bought goods and services on the undeclared economy in the prior year. More than 1 in 12 report that they have undertaken undeclared work, and more than 1 in 10 declared employees report that they receive from their employer in addition to their declared salary an additional undeclared ‘envelope’ wage.
 
Ø  But undeclared work differs across and within the three countries. For every one working undeclared due to their ...


Greypolicybrief2_Macedonia.Pdf, Colin C. Williams, Peter Rodgers, Ruslan Stefanov 2017 University of Sheffield

Greypolicybrief2_Macedonia.Pdf, Colin C. Williams, Peter Rodgers, Ruslan Stefanov

Colin C Williams

KEY POINTS
Ø  Undeclared work hasdeep roots in FYR of Macedonia. 1 in 16 adults and 1 in 8 of the employed engage in undeclared work. The use of informal connections to circumvent formal institutions is practiced by 35% of Macedonians.
Ø  Formal institutions in the country are underdeveloped. Unemployment also remains unusually high compared with the EU average.
Ø  The traditional repression approach to tackling undeclared work, which has been prioritised so far by the authorities, is ineffective.
Ø  Increasing penalties and surveillance/ control should at the very least be supplemented by public awareness raising campaigns, educating citizens, and ...


The Real Effect Of State Corporate Tax Rate Changes: Evidence From Corporate Headquarters Relocation, Travis K. CHOW, Sterling HUANG, Kenneth J. KLASSEN, Jeffrey NG 2017 Singapore Management University

The Real Effect Of State Corporate Tax Rate Changes: Evidence From Corporate Headquarters Relocation, Travis K. Chow, Sterling Huang, Kenneth J. Klassen, Jeffrey Ng

Research Collection School Of Accountancy

The state tax apportionment formula used to determine state taxes is a function of the taxable income attributable to the state and state corporate tax rates. In this study, we rely on changes in state corporate income tax rates and other inducements across time and states as a quasi-natural experiment to examine the effect of state taxation on corporate headquarters (HQ) relocation. We find that changes in HQ state corporate income tax rates significantly affect the likelihood of cross-state HQ relocation. Other inducements also reduce the likelihood of relocation. The results of the cross-sectional analysis suggest that the likelihood of ...


Illegitimate Economic Practices In Bulgaria: Findings From A Representative Survey Of 2,005 Citizens, Colin C. Williams, Junhong Yang 2017 University of Sheffield

Illegitimate Economic Practices In Bulgaria: Findings From A Representative Survey Of 2,005 Citizens, Colin C. Williams, Junhong Yang

Colin C Williams

This report presents the findings of a survey on illegitimate economic practices in Bulgaria conducted between July and October 2015. This representative survey of 2005 citizens focused on the experiences of Bulgarians with undeclared work, envelope wages and the practice of “pulling strings”, as well as on their opinion about these types of dishonest behaviour.
According to the respondents, illegitimate economic practices are strongly ingrained in Bulgarian society. According to the estimation of Schneider (2013), the undeclared economy accounts for 31% of GDP in Bulgaria in 2013, which is the highest estimation for any country in the EU-28. According to ...


Preventative Policy Measures To Tackle Undeclared Work In Croatia, Colin C. Williams 2017 University of Sheffield

Preventative Policy Measures To Tackle Undeclared Work In Croatia, Colin C. Williams

Colin C Williams

This report examines the drivers of the undeclared economy in Croatia, the current organisation of the fight against undeclared work, and reviews the current and potential policy approaches and measures for tackling undeclared work in Croatia.
 
Drivers of the undeclared economy in Croatia
Recently, significant advances have been made in explaining the determinants of undeclared work. To explain undeclared work, it has been understood that every society has institutions which prescribe, monitor and enforce the ‘rules of the game’ regarding what is socially acceptable. In all societies, these institutions are of two types: formal institutions that prescribe ‘state morality’ about ...


Investor Valuations Of Japan's Adoption Of A Territorial Tax Regime: Quantifying The Direct And Competitive Effects Of International Tax Reform, Sebastien J. Bradley, Estelle Dauchy, Makoto Hasegawa 2017 Drexel University

Investor Valuations Of Japan's Adoption Of A Territorial Tax Regime: Quantifying The Direct And Competitive Effects Of International Tax Reform, Sebastien J. Bradley, Estelle Dauchy, Makoto Hasegawa

Sebastien J Bradley

Despite an extensive literature on the normative implications of different international tax regimes and an empirical literature addressing individual specific predictions, there exists little evidence encompassing the broad range of effects of taxing corporations' foreign-source income on a worldwide or territorial basis. This paper takes a more comprehensive quantitative approach by examining stock market reactions surrounding four events over the course of which Japan's 2009 adoption of a dividend exemption system was developed into proposed law. Using an event study methodology which leverages individual firm characteristics and accounts for contemporaneous financial market developments, we find that Japanese firms with ...


Tackling Undeclared Work In The Construction Industry: A Learning Resource, Colin C. Williams 2017 University of Sheffield

Tackling Undeclared Work In The Construction Industry: A Learning Resource, Colin C. Williams

Colin C Williams

On 3 May 2017, the European Platform Tackling Undeclared Work organised a seminar in Brussels on Tools and approaches to deal with undeclared work in the construction sector. The seminar brought together Platform members and observers from 21 EU Member States (MS) and Norway (EEA) representing labour inspectorates and social security, tax and customs authorities, as well as national and European social partner representatives from the construction sector. 
This learning resource paper describes the seminar outcomes. The first section looks at the extent and nature of undeclared work in the construction sector. This is followed by an overview of the ...


Post-Jgtrra Dividend Planning, Danny A. Pannese, Paul N. Iannone 2017 Sacred Heart University

Post-Jgtrra Dividend Planning, Danny A. Pannese, Paul N. Iannone

Danny Pannese

The JGTRRA reduced the tax rate on dividends for individuals and lowered the accumulated earnings and personal holding company taxes for corporations until 2008. This article reviews some of the planning techniques corporations and shareholders can use to take advantage of the temporarily lower rates. One of the key provisions of the Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA), if not the prime emphasis of the legislation, is Section 302's reduction in the individual tax rate on corporate dividends received to 15% (5% for individuals in the 15% and 10% brackets). In an emerging trend, the ...


Liberating Trapped Cash: A Case Study Of Trapped Cash At Apple And Microsoft, Russell P. Engel, Bridget M. Lyons, Danny A. Pannese 2017 Southern Connecticut State University

Liberating Trapped Cash: A Case Study Of Trapped Cash At Apple And Microsoft, Russell P. Engel, Bridget M. Lyons, Danny A. Pannese

Danny Pannese

The topic of trapped cash, or cash permanently reinvested overseas to avoid tax upon repatriation, has become a hot topic in accounting, finance and policy circles over the past two years. This case study analyzes the activities of two major technology firms, Microsoft and Apple, to liberate enormous holdings of trapped cash. The case prompts a discussion of the topic of trapped cash, stakeholder considerations and tools available to manage cash balances held outside the United States. The focus is to examine the strategies available and those selected by Microsoft and Apple to meet or at least appease stakeholder demands ...


Assessment Of Under-Declared Employment In Croatia, Colin C. Williams, Miroslav Radvansky, Miroslav Stefanik 2017 University of Sheffield

Assessment Of Under-Declared Employment In Croatia, Colin C. Williams, Miroslav Radvansky, Miroslav Stefanik

Colin C Williams

This report evaluates ‘under-declared employment’, which is the practice where a formal employer pays a formal employee an official declared wage but also an additional undeclared (envelope) wage in order to evade the full social insurance and tax liabilities owed. The aim is to evaluate the prevalence, characteristics and distribution of this fraudulent wage practice in Croatia, to explain its existence, and to provide an evidence-based evaluation of the different policy approaches for tackling it, and a set of policy recommendations. 


Cpa Exam Review, 2017 San Jose State University

Cpa Exam Review

The Contemporary Tax Journal

No abstract provided.


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