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Articles 31 - 49 of 49
Full-Text Articles in Law
I.R.C. §(A)(3)(D): Reorganizing An Insolvent Savings And Loan Association, Brenda D. Crocker, Michael L. Unti
I.R.C. §(A)(3)(D): Reorganizing An Insolvent Savings And Loan Association, Brenda D. Crocker, Michael L. Unti
Akron Law Review
Whether or not the new reorganization provision, section 368(a)(3) (D), succeeds in inducing the acquisition of insolvent savings and loan associations, it is likely to be viewed as a creative attempt at a solution. To best illustrate the novelty of Congress's approach, the ensuing sections begin with an explanation of federal tax law as it has evolved in the context of insolvency reorganizations.
The Use Of Short-Term Trusts In Conjunction With Interests In Oil Or Gas Properties: A Practitioner's Guide, Robert W. Malone
The Use Of Short-Term Trusts In Conjunction With Interests In Oil Or Gas Properties: A Practitioner's Guide, Robert W. Malone
Akron Law Review
This article will address the tax consequences of the funding of a short-term trust with an interest in oil or gas wells. At the end of this article there is set forth as Appendix 11 a form of short-term trust which could be used for this purpose. Appendix 11 contains an example of a situation where such use would be appropriate and a computation of the tax savings which can be generated by the use of such a trust.
Federal Income Tax Developments: 1981
Federal Income Tax Developments: 1981
Akron Law Review
The scope of this survey is limited to the substantive developments in the field of income taxation. The thrust of this article is not only to identify new developments, but also to trace these concepts through their formulative changes.
Individual, Couple Or Family? The Unit Of Taxation For Transfer Tax Purposes: A Shifting Focus, Anne-Marie Rhodes
Individual, Couple Or Family? The Unit Of Taxation For Transfer Tax Purposes: A Shifting Focus, Anne-Marie Rhodes
Akron Law Review
This paper examines the shifting focus of the transfer tax system from the perspectives of the articulated primary purpose for the taxes and the appropriate unit of taxation given that purpose. The historical progression shows that as a sense of purpose became less clear, the unit of taxation similarly became less focused.
Denial Of Tax Exempt Status For Racially Discriminatory Schools, Bob Jones University V. U.S., Margaret K. Cassidy
Denial Of Tax Exempt Status For Racially Discriminatory Schools, Bob Jones University V. U.S., Margaret K. Cassidy
Akron Law Review
The extent to which the government may deny tax-exempt status in order to further its goal of eliminating racial discrimination is a question of paramount importance. The United States Supreme Court recently addressed this question in the case of Bob Jones University v. U.S., a consolidated action which involved a conflict between two established public policies: racial equality and religious freedom. The Court held that this nation's policy of racial equality overrides any interest that an educational and religious institution may have in promoting racial discrimination.
Partnership Sales: When Nonrecourse Debt Exceeds Fair Market Value, Commissioner V. Tufts, Joseph Perkovich
Partnership Sales: When Nonrecourse Debt Exceeds Fair Market Value, Commissioner V. Tufts, Joseph Perkovich
Akron Law Review
The United States Supreme Court has used its decision in Commissioner v. Tufts to settle a conflict between circuits and to fine tune an ambiguity which it created thirty-six years ago in Crane v. Commissioner. The circumstances focus on a taxpayer who sells his partnership interest by having the purchaser assume nonrecourse debt to which the partnership property is subject.
Internal Revenue Service Review Of Tax Accrual Workpapers United States V. Arthur Young & Co., Steven Dimengo
Internal Revenue Service Review Of Tax Accrual Workpapers United States V. Arthur Young & Co., Steven Dimengo
Akron Law Review
The broad summoning power of the Internal Revenue Service [IRS] which enables it to examine any documents related to a taxpayer's liability' was challenged in United States v. Arthur Young & Co. The major issue of the proceedings was whether tax accrual workpapers, prepared by a taxpayer's independent auditor during the course of an annual audit, were subject to disclosure to the IRS pursuant to a summons under section 7602 of the Internal Revenue Code of 1954. In reaching its holding, the Supreme Court had to determine whether tax accrual workpapers were relevant to an IRS inquiry within the meaning …
Dickman And Code Section 7872: The Death Knell To Interest-Free And Below-Market Loans, Beverly Mcdonel
Dickman And Code Section 7872: The Death Knell To Interest-Free And Below-Market Loans, Beverly Mcdonel
Akron Law Review
This comment will discuss the history of interest-free and below-market rate loans, including recent changes in the law from Dickman and the Internal Revenue Code (Code) revision in 1984. In addition, some of the tax planning alternatives to interest-free loans will be briefly examined.
A Line Drawn By Unsteady Hands: Section 170, Charitable Contributions, And Return Benefits In Hernandez V. C.I.R., David M. Phipps
A Line Drawn By Unsteady Hands: Section 170, Charitable Contributions, And Return Benefits In Hernandez V. C.I.R., David M. Phipps
Akron Law Review
This Note analyzes the majority decision and dissenting opinion in Hernandez, which have far-reaching implications for charitable organizations, taxpayers, and the government. Traditional tax deductions for charitable organizations may be in danger and these organizations may suffer economic difficulty?
Taking It With Them The Dynamics Of Changing A State Income Tax Residence, Hamlin C. King
Taking It With Them The Dynamics Of Changing A State Income Tax Residence, Hamlin C. King
Akron Law Review
Since nonresidence is taking on "hot issue" status in Ohio, it is the purpose of this article to closely focus on two issues regarding the taxation of such nonresident income. The first issue is what constitutes a state income tax residence change. The second is to identify the income items originating from Ohio sources that may pass out to nonresidents free of the Ohio income tax. As we go along, we will take notice of how these two issues impact the taxpayers' federal income tax, as well as their Ohio and federal estate taxes.
Nonpayment Of Taxes: When Ignorance Of The Law Is An Excuse, Jon Strauss
Nonpayment Of Taxes: When Ignorance Of The Law Is An Excuse, Jon Strauss
Akron Law Review
"Ignorance of the law is no excuse" is a well-known saying regarding criminal law. Yet the 1991 Supreme Court decision of Cheek v. United States held that a defendant's ignorance of the federal tax laws is an excuse to the crime of nonpayment of income taxes. This paper reviews the history of the defense of ignorance of the law in tax crimes, discusses the philosophical ramifications of this defense, and examines the extent to which the Supreme Court's allowance of this defense is appropriate.
Gray Market Goods Produced By Foreign Affiliates Of The U.S. Trademark Owner: Should The Lanham Act Provide A Remedy?, Steven M. Auvil
Gray Market Goods Produced By Foreign Affiliates Of The U.S. Trademark Owner: Should The Lanham Act Provide A Remedy?, Steven M. Auvil
Akron Law Review
I shall argue that, with limited exceptions, the problem posed by genuine gray market imports from an affiliated source is not a trademark problem per se, and as such federal relief must come from Congress in the form of sui generis legislation. First, I shall briefly examine the historical background of this problem and discuss the debate leading up to the K Mart decision. Second, I shall discuss the nature of the trademark right, provisions under the Lanham Act that safeguard that right and several illustrative gray market cases decided thereunder. Third, I shall discuss the relationship between the trademark …
Of Taxes And Duties: Taxing The System With Public Employees' Tax Obligations, Kenneth H. Ryesky
Of Taxes And Duties: Taxing The System With Public Employees' Tax Obligations, Kenneth H. Ryesky
Akron Law Review
Governmental agencies, including and especially those involved in the taxation function, have compelling reasons to insist that individuals in their employ comply with the laws of the land, including the personal tax requirements. As tax law complexity increases, so does the general propensity for noncompliance. The governmental agencies are thus confronted with increasing volumes of disciplinary issues relating to employee tax obligations. This article will explore how the various types of governmental agencies deal with enforcing compliance by their employees with personal taxation obligations, and will discuss how fallout from thetax law arena affects the efficiency of government as compliance …
Carroll V. Commissioner: Narrow Judicial Interpretations Of Internal Revenue Code' § 7502 May Cause Increased Burden On Taxpayers, Nicole D. Stanger
Carroll V. Commissioner: Narrow Judicial Interpretations Of Internal Revenue Code' § 7502 May Cause Increased Burden On Taxpayers, Nicole D. Stanger
Akron Law Review
In Carroll v. Commissioner, the United States Court of Appeals for the Sixth Circuit upheld the minority viewpoint that the statute repeals the common law presumption of delivery in all cases other than those where the taxpayer used registered or certified mail. Thus, taxpayers who do not send tax documents using registered or certified mail must bear the risk of nondelivery. Critics of this decision contend that the court misinterpreted the I.R.C. As a result of the court's narrow interpretation, taxpayers may suffer substantial tax losses and penalties even when a document is lost through no fault of their own. …
Commissioner Of Internal Revenue V. Lundy: Transforming "An Intended Benefit Into A Handicap"?, Douglas Edwards
Commissioner Of Internal Revenue V. Lundy: Transforming "An Intended Benefit Into A Handicap"?, Douglas Edwards
Akron Law Review
This Note analyzes the Court's decision in Lundy. Part II examines the relevant statutory provisions concerning the power granted to the Tax Court and federal district court. Part III addresses the facts, procedural history, and holding of the Court." Part IV(A) analyzes the holding of the case. Part IV(B) addresses several dissenting arguments, and contends that the Court could have clarified this murky area of the law by adopting the holding of Miller v. United States.
Taxation Of Prepaid Tuition Plans And The 1997 Tax Provisions - Middle Class Panacea Or Placebo? Continuing Problems And Variations On A Theme, Eric A. Lustig
Taxation Of Prepaid Tuition Plans And The 1997 Tax Provisions - Middle Class Panacea Or Placebo? Continuing Problems And Variations On A Theme, Eric A. Lustig
Akron Law Review
This article addresses the continuing tax issues and policies attendant to one form of financing the costs of higher education -- prepaid tuition plans. These plans generally allow one to purchase tuition in advance for future use. One attraction of such a plan is that the purchaser can lock in tuition at present rates, thus protecting against inflation and other tuition hikes. Moreover, favorable tax treatment exists as the build up of benefits is generally tax-free to the purchaser, which provides a significant advantage over other savings programs. Although prepaid tuition plans have been in existence for a number of …
Taxation Expatrition: Will The Fast Act Stop Wealthy Americans From Leaving The United States?, Beckett G. Cantley
Taxation Expatrition: Will The Fast Act Stop Wealthy Americans From Leaving The United States?, Beckett G. Cantley
Akron Law Review
In the wake of September 11, 2001, several influential lawmakers have sought to pass tax legislation that would reduce the tax benefits that may result from an American citizen expatriating to a foreign nation. According to these congressional critics, certain wealthy American citizens are willing to relinquish their United States citizenship to save taxes (“tax expatriates”). The last major attempt to prevent tax expatriation was undertaken in 1995 when Internal Revenue Code (“I.R.C.”) § 877 was enacted. Several congressional critics have charged that I.R.C. § 877 is being easily circumvented by tax expatriates and their advisors. To stem the tide …
Standing In The Mud: Hein V.Freedom From Religion Foundation, Inc.
Standing In The Mud: Hein V.Freedom From Religion Foundation, Inc.
Akron Law Review
In 1968, in Flast v. Cohen, the Supreme Court first set forth the requirements that a plaintiff must satisfy to have standing to challenge a government action in federal court solely based on his or her status as a taxpayer. The subsequent history of taxpayer standing is littered with precedents supported by unclear reasoning. Hein v. Freedom from Religion Foundation, Inc. represents the Supreme Court’s latest effort to address the limits of taxpayer standing in an Establishment Clause challenge. Unfortunately, the Court in Hein maintained its tradition of providing perplexing decisions in taxpayer standing cases. In Hein, a plurality of …
Realsim Over Formalism And The Presumption Of Constitutionality: Chief Justice Roberts' Opinion Upholding The Individual Mandate, Wilson Huhn
Akron Law Review
In National Federation of Independent Business v. Sebelius, Chief Justice John Roberts cast the deciding vote to uphold the individual mandate of the Affordable Care Act. Speaking for the Court in Part IIIC of his opinion, Roberts found that the individual mandate was properly enacted pursuant to the General Welfare Clause. Two aspects of his opinion in particular drove this result. In deciding whether the individual mandate constitutes a “tax” within the meaning of the Constitution, the Chief Justice engaged in realistic analysis rather than legal formalism. In addition, Roberts reasoned that, if fairly possible, the statute had to be …