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Articles 1 - 9 of 9
Full-Text Articles in Law
Rev. Proc. 2005-24 And The Upc Elective Share, Lawrence W. Waggoner
Rev. Proc. 2005-24 And The Upc Elective Share, Lawrence W. Waggoner
Law & Economics Working Papers Archive: 2003-2009
This article discusses Revenue Procedure 2005-24, which came as a bombshell to the estate-planning bar. The Rev. Proc. requires a spousal waiver of elective-share rights in order for a charitable remainder annuity trust (CRAT) or a charitable remainder unitrust (CRUT) created on or after June 28, 2005, to qualify for a charitable deduction. The elective share is a statutory provision common to most probate codes in non-community-property states that protect a decedent’s surviving spouse against disinheritance.
The Rev. Proc. is primarily though apparently not exclusively addressed to the elective share of the Uniform Probate Code (UPC). Unfortunately, the Rev. Proc. …
Do Different Types Of Hospitals Act Differently?, Jill R. Horwitz
Do Different Types Of Hospitals Act Differently?, Jill R. Horwitz
Other Publications
This essay is based on testimony delivered before the U.S. House of Representatives Committee on Ways and Means on May 26, 2005.
Closing The International Tax Gap, Joseph Guttentag, Reuven S. Avi-Yonah
Closing The International Tax Gap, Joseph Guttentag, Reuven S. Avi-Yonah
Book Chapters
In July of 1999, the Justice Department entered into a plea bargain with one John M. Mathewson of San Antonio, Texas. Mr. Mathewson was accused of money laundering through the Guardian Bank and Trust Co. Ltd., a Cayman Islands bank. Mr. Mathewson was chairman and controlling shareholder of Guardian, and in that capacity had access to information on its depositors. In return for a reduced sentence, Mr. Mathewson turned over the names of the persons who had accounts at Guardian. The result was an eye-opener: The majority of the accounts were beneficially owned by U.S. citizens, and the reason they …
All Of A Piece Throughout: The Four Ages Of U.S. International Taxation, Reuven S. Avi-Yonah
All Of A Piece Throughout: The Four Ages Of U.S. International Taxation, Reuven S. Avi-Yonah
Articles
This paper divides up the history of U.S. international taxation into four periods, on the basis of what was the basic theoretical principle underlying the major legislative enactments made in each period. The first period lasted from the adoption of the Foreign Tax Credit in 1918 to the end of the Eisenhower Administration, and was dominated by the concept of the right to tax as flowing from benefits conferred by the taxing state. The second period lasted from 1960 until the end of the Carter Administration, and was dominated by the concept of capital export neutrality and an emphasis on …
Tax Law Uncertainty And The Role Of Tax Insurance, Kyle D. Logue
Tax Law Uncertainty And The Role Of Tax Insurance, Kyle D. Logue
Articles
In the broadest sense, this is an article about legal or regulatory uncertainty and the role that private and public insurance can play in managing it. More narrowly, the article is about tax law enforcement and the familiar if ill-defined distinctions between tax evasion, tax avoidance, and abusive tax avoidance. Most specifically, the article is about a new type of tax risk insurance policy, sometimes called tax indemnity insurance or transactional tax risk insurance that provides coverage against the risk that the Internal Revenue Service (Service) will disallow a taxpayer-insured's tax treatment of a particular transaction. The question is whether …
Annex 3: Definition Of 'Tax' In Us Law, Reuven S. Avi-Yonah
Annex 3: Definition Of 'Tax' In Us Law, Reuven S. Avi-Yonah
Book Chapters
Under US law, a tax is defined as a compulsory payment pursuant to the authority of a foreign country to levy taxes. While this definition is somewhat circular, it does require (i) a payment, (ii) that is not voluntary,(iii) to a foreign country, (iv) pursuant to its authority to levy taxes
The Story Of The Separate Corporate Income Tax: A Vehicle For Regulating Corporate Managers, Reuven S. Avi-Yonah
The Story Of The Separate Corporate Income Tax: A Vehicle For Regulating Corporate Managers, Reuven S. Avi-Yonah
Book Chapters
The corporate income tax is under attack. The former Secretary of the Treasury has announced that it should be abolished, and the current drive to eliminate the taxation of dividends can be seen as the first step toward that goal. A significant number of tax academics have argued for repeal of the tax. Other academics have urged radical reform of the tax. And no serious academic has in recent years mounted a convincing normative defense of why this cumbersome tax should be retained.
And yet it does not seem likely that the corporate tax will be repealed any time soon. …
The Wto, Export Subsidies, And Tax Competition, Reuven S. Avi-Yonah
The Wto, Export Subsidies, And Tax Competition, Reuven S. Avi-Yonah
Book Chapters
From its beginnings late in the 19th century, the modem state has been financed primarily by progressive income taxation. The income tax differs from other forms of taxation (such as consumption or social security taxes) in that in theory it includes income from capital in the tax base, even if it is saved and not consumed. Because the rich save more than the poor, a tax that includes income from capital in its base is more progressive (taxes the rich more heavily) than a tax that excludes income from capital (e.g., a consumption tax or a payroll tax). However, the …
From Income To Consumption Tax: Some International Implications, Reuven S. Avi-Yonah
From Income To Consumption Tax: Some International Implications, Reuven S. Avi-Yonah
Book Chapters
This Article considers some possible implications for the international tax regime based on three major proposals in the United States which would abolish the U.S. corporate and personal income taxes and implement in their place a type of consumption tax. It describes the three main proposals and the potential international implications. The Article discusses the possible impact of tax reform on the U.S. tax treaty network and concludes that our treaty partners would be entitled to terminate their treaties with the U.S. if it abolished the income tax. The author concludes by addressing the question whether the effect of the …