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Full-Text Articles in Law
Liquidation-Reincorporation: A Sensible Approach Consistent With Congressional Policy, Glenn P. Schwartz
Liquidation-Reincorporation: A Sensible Approach Consistent With Congressional Policy, Glenn P. Schwartz
University of Miami Law Review
No abstract provided.
The Tax Benefit Rule: Recovery Reevaluated, Paul T. Kestenbaum
The Tax Benefit Rule: Recovery Reevaluated, Paul T. Kestenbaum
University of Miami Law Review
The United States Supreme Court has granted certiorari in two cases, Bliss Dairy, Inc. v. United States and Hillsboro National Bank v. Commissioner, to resolve a conflict in the circuits as to whether recovery is necessary for the application of the tax benefit rule. The author argues that the application of the tax benefit rule should not depend on the existence of a recovery, but instead should depend on whether an event occurs that is inconsistent with the assumptions underlying the prior deduction; recovery merely is a manifestation of an inconsistent event.