Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 6 of 6
Full-Text Articles in Law
Heal The Suffering Children: Fifty Years After The Declaration Of War On Poverty, Francine J. Lipman, Dawn Davis
Heal The Suffering Children: Fifty Years After The Declaration Of War On Poverty, Francine J. Lipman, Dawn Davis
Scholarly Works
Fifty years ago, President Lyndon B. Johnson declared the War on Poverty. Since then, the federal tax code has been a fundamental tool in providing financial assistance to poor working families. Even today, however, thirty-two million children live in families that cannot support basic living expenses, and sixteen million of those live in extreme poverty. This Article navigates the confusing requirements of an array of child-related tax benefits including the dependency exemption deduction, head of household filing status, the Earned Income Tax Credit, and the Child Tax Credit. Specifically, this Article explores how altering the definition of a qualifying child …
The "Illegal" Tax, Francine J. Lipman
The Taxation Of Undocumented Immigrants: Separate, Unequal, And Without Representation, Francine J. Lipman
The Taxation Of Undocumented Immigrants: Separate, Unequal, And Without Representation, Francine J. Lipman
Scholarly Works
No abstract provided.
The Separate Tax Status Of Loan-Out Corporations, Mary Lafrance
The Separate Tax Status Of Loan-Out Corporations, Mary Lafrance
Scholarly Works
When professionals and other persons who offer their goods and/or services to the public conduct their businesses through corporations, the Treasury has acknowledged that for federal income tax purposes it must treat those corporations as separate and distinct from their controlling shareholder-employees, even where there is only a single shareholder-employee, provided that the corporation has a business purpose and the taxpayer consistently respects the corporate form. However, the Treasury has refused to accord equal dignity to incorporated workers who offer their services not to the public at large but to a single recipient or a small number of recipients. The …
Constitutional Implications Of Acquisition-Value Real Property Taxation: The Elusive Rational Basis, Mary Lafrance
Constitutional Implications Of Acquisition-Value Real Property Taxation: The Elusive Rational Basis, Mary Lafrance
Scholarly Works
This article is the first in a two-part series addressing the constitutional implications of acquisition-value real property taxation. Acquisition-value real property taxation systems represent a departure from the traditional practice of taxing real property on its current fair market value. In contrast to traditional systems, which are still employed by the vast majority of states, under acquisition- value taxation a real estate owner's property tax liability is determined by the value of the property when the taxpayer acquired it. In periods of rising real estate prices, such a scheme compels later buyers to shoulder a higher annual tax liability than …
Installment Method Asset Sales By S Corporations, Mary Lafrance
Installment Method Asset Sales By S Corporations, Mary Lafrance
Scholarly Works
This Article examines the impact of recent developments on a particular category of taxpayer: the S corporation whose shareholders desire to sell some or all of the corporation's assets. While an installment sale of assets has, for many taxpayers, lost much of its previous allure, such sales may still be commercially desirable under certain circumstances—e.g., where a buyer lacks ready cash or adequate borrowing power. In such a case, some S corporations may be able to achieve significant tax savings through proper planning and documentation of an installment sale. Until Congress or the Treasury provides needed clarification, however, …