Law Commons^™

Standing And Adverseness In Challenges Of Tax Exemptions For Discriminatory Public Schools, Thomas Mccoy, Neal Devins

Neal E. Devins

No abstract provided.

Why Pension Funding Matters, Eric D. Chason

Eric D. Chason

No abstract provided.

Taxing Losers, Eric D. Chason

Eric D. Chason

The U.S. tax system, like most in the world, benefits capital gains in two ways. Investors can defer paying tax until they "realize" any gain (typically by sale) rather than when the gain simply occurs via rising prices. Additionally, individual investors pay a lower, preferred rate on their long-term capital gains as compared to their other ordinary income (such as compensation or business profits).

However, investors face a burden with respect to their capital losses. Rather than allowing for unlimited capital loss deductions, the Code largely forces investors to match their capital losses against their capital gains. Limits on capital …

The Post-Tarp Movement To Regulate Banker Pay, Eric D. Chason

Eric D. Chason

No abstract provided.

Quantifying The Tax Advantage Of Deferred Compensation, Eric D. Chason

Eric D. Chason

No abstract provided.

Naked And Covered In Monte Carlo: A Reappraisal Of Option Taxation, Eric D. Chason

Eric D. Chason

The market for equity options and related derivatives is staggering, covering trillions of dollars worth of assets. As a result, the taxation of these instruments is inherently important. Moreover, the importance is made even more acute by the use of options in creating more complex transactions and in avoiding taxes. Consider an equity call option, which entitles, but does not obligate, its holder to buy stock at a set price at a set time in the future. Option theory gives us a way to break the option down into more fundamental units. For example, an equity call option over 10,000 …

The Natural Property Rights Straitjacket: The Takings Clause, Taxation, And Excessive Rigidity, Eric Kades

Eric A. Kades

Natural property rights theories have become the primary lens through which conservative jurists and scholars view the Constitution’s main property rights provision, the Takings Clause. One of their most striking arguments is that progressive income taxation — applying higher tax rates to higher incomes — is an unconstitutional taking of wealthy taxpayers’ property. This has become part and parcel of well-established battle lines between conservative property rights advocates and their liberal counterparts. What has gone unnoticed is that the very same argument deployed against progressive taxation also deems regressive taxation — applying lower tax rates to higher incomes — an …

Giving Credit Where Credit Is Due: Reducing Inequality With A Progressive State Tax Credit, Eric Kades

Eric A. Kades

No abstract provided.

A Progressive Federal Tax Credit For State Tax Payments, Eric Kades

Eric A. Kades

No abstract provided.

Reforming The Regulation Of Political Advocacy By Charities: From Charity Under Siege To Charity Under Rescue?, Adam Parachin

Adam Parachin

A newly elected liberal federal government in Canada has pledged to reform the legal distinction between charity and politics. This paper provides context to this reform initiative, linking it to a controversial political activities audit program funded by the former conservative federal government. It identifies three distorting ideas about charity—that charity can be understood as a tax expenditure, economic or neutral concept—that should be eschewed in the reform process. It also identifies three characteristics of charity—the capacity of charities for thought leadership, the pervasiveness of messaging in charitable programming and the distinctiveness of charity and government—that should guide reformers.

The "Independent" Sector: Fee-For-Service Charity And The Limits Of Autonomy, Lloyd Hitoshi Mayer

Lloyd Hitoshi Mayer

Although numerous scholars have attempted to explain and justify the benefits provided to charities, none has been completely successful. Their theories share, however, two required characteristics for charities. First, charities must be distinct from other types of entities in society, including governmental bodies, businesses, other types of nonprofit organizations, and informal entities such as families. Second, charities must provide some form of public benefit. Given these defining characteristics, the principal role for the laws governing charities is to protect charities from influences that could potentially undermine these traits. This Article is the first to recognize fully the importance of this …

A Good Old Habit, Or Just An Old One? Preferential Tax Treatment For Reorganizations, Yariv Brauner

Yariv Brauner

This article proposes to repeal the preferential tax treatment of certain merger and acquisition transactions known as "reorganizations," and tax them like all other sales or exchanges. In the last 80 years this preference has been a cornerstone of our tax system. It is also one of the most stable rules in the tax code. Nevertheless, its normative justification is weak, and has never been rigorously debated in the legal literature. This article rejects the stated rationale for this rules - that such transactions trigger insufficient realization and therefore it is both unfair and impractical to currently tax them. It …

The 21st Century Fight Over Who Sets The Terms Of The Charity Property Tax Exemption, Evelyn Brody

Evelyn Brody

Section 179 Expensing And The Bonus Depreciation Allowance: Their Application, History, Costs, And Benefits., Alice E. Keane

Alice E. Keane

This article examines Section 179 expensing and the bonus depreciation allowance, tax incentives that allow businesses to dramatically accelerate deductions on purchases of most tangible property. Generally, Section 179 expensing benefits smaller businesses, while the bonus depreciation allowance, which is more controversial and costly, is more useful to larger businesses and C corporations. Both of these tax incentives expired at the end of 2014. Congress is currently considering bills that would extend these incentives retroactively to 2015 and beyond. There is conflicting evidence of the benefit to the economy of Section 179 expensing and the bonus depreciation allowance, with certain …

Helping Out In The Family Firm: The Legal Treatment Of Unpaid Market Labor, Lisa Philipps

Lisa Philipps

This article investigates the work of individuals who help out informally with a family member's job, often without pay. Examples include the relative who works in the back room of the family business, the executive spouse who hosts corporate functions, the political wife who campaigns with her husband, or the child who does chores on the family farm. The term "unpaid market labor" (UML) is used here to describe the ways that family members collaborate directly in paid activities that are legally and socially attributed to others. The practical legal problems that can arise in relation to UML are illustrated …

Destination-Based Cash-Flow Taxation: A Critical Appraisal, Wei Cui

Wei Cui

This Article offers the first comprehensive appraisal in both the legal and economic literatures of proposals for adopting destination-based cash flow taxation (DCFT) of multinational corporations. The DCFT was a key recommendation for reforming corporate taxation in the U.K., and has subsequently attracted wide attention as a way to fundamentally reform international taxation in the U.S., Europe and elsewhere. The core intuition of the DCFT is to tax profits earned by mobile capital by reference to immobile factors. I distinguish three versions of the DCFT for implementing this intuition: 1. formulary apportionment of business profits by reference to locations of …

Recent Developments In Federal Income Taxation: The Year 2004, Ira B. Shepard, Martin J. Mcmahon Jr.

Martin J. McMahon

This recent developments outline discusses, and provides context to understand the significance of, the most important judicial decisions and administrative rulings and regulations promulgated by the Internal Revenue Service and Treasury Department during 2004 - and sometimes a little farther back in time if we find the item particularly humorous or outrageous. Most Treasury Regulations, however, are so complex that they cannot be discussed in detail and, anyway, only a devout masochist would read them all the way through; just the basic topic and fundamental principles are highlighted. Amendments to the Internal Revenue Code generally are not discussed except to …

Recent Developments In Federal Income Taxation: The Year 2005, Martin J. Mcmahon Jr., Ira B. Shepard

Martin J. McMahon

This recent developments outline discusses, and provides context to understand, the significance of, the most important judicial decisions and administrative rulings and regulations promulgated by the Internal Revenue Service and Treasury Department during 2005 - and sometimes a little farther back in time if we find the item particularly humorous or outrageous. Most Treasury Regulations, however, are so complex that they cannot be discussed in detail and, anyway, only a devout masochist would read them all the way through; just the basic topic and fundamental principles are highlighted. Amendments to the Internal Revenue Code generally are not discussed except to …

Recent Developments In Federal Income Taxation: The Year 2002, Ira B. Shepard, Martin J. Mcmahon Jr.

Martin J. McMahon

This recent developments outline discusses, and provides context to understand the significance of, the most important judicial decisions and administrative rulings and regulations promulgated by the Internal Revenue Service and Treasury Department during 2002 - and sometimes a little farther back in time if we find the item particularly humorous or outrageous. Most Treasury Regulations, however, are so complex that they cannot be discussed in detail and, anyway, only a devout masochist would read them all the way through; just the basic topic and fundamental principles are highlighted. Amendments to the Internal Revenue Code generally are not discussed except to …

Recent Developments In Federal Income Taxation: The Year 2001, Ira B. Shepard, Martin J. Mcmahon Jr.

Martin J. McMahon

This recent developments outline discusses, and provides context to understand the significance of, the most important judicial decisions and administrative rulings and regulations promulgated by the Internal Revenue Service and Treasury Department during 2001 - and sometimes a little farther back in time if we find the item particularly humorous or outrageous. Most Treasury Regulations, however, are so complex that they cannot be discussed in detail and, anyway, only a devout masochist would read them all the way through; just the basic topic and fundamental principles are highlighted. Amendments to the Internal Revenue Code generally are not discussed except to …

Recent Developments In Federal Income Taxation: The Year 2009, Martin J. Mcmahon Jr., Ira B. Shepard, Daniel L. Simmons

Martin J. McMahon

This article discusses, and provides context to understand the significance of, the most important judicial decisions and administrative rulings and regulations promulgated by the Internal Revenue Service and Treasury Department during 2008 – and sometimes a little farther back in time if the authors find the item particularly humorous or outrageous. Most Treasury Regulations, however, are so complex that they cannot be discussed in detail and, anyway, only a devout masochist would read them all the way through; just the basic topic and fundamental principles are highlighted. Amendments to the Internal Revenue Code generally are discussed to the extent that …

Recent Developments In Federal Income Taxation: The Year 2003, Ira B. Shepard, Martin J. Mcmahon Jr.

Martin J. McMahon

This recent developments outline discusses, and provides context to understand the significance of, the most important judicial decisions and administrative rulings and regulations promulgated by the Internal Revenue Service and Treasury Department during 2003 - and sometimes a little farther back in time if we find the item particularly humorous or outrageous. Most Treasury Regulations, however, are so complex that they cannot be discussed in detail and, anyway, only a devout masochist would read them all the way through; just the basic topic and fundamental principles are highlighted. Amendments to the Internal Revenue Code generally are not discussed except to …

Recent Developments In Federal Income Taxation: The Year 2000, Ira B. Shepard, Martin J. Mcmahon Jr.

Martin J. McMahon

This recent developments outline discusses, and provides context to understand the significance of, the most important judicial decisions and administrative rulings and regulations promulgated by the Internal Revenue Service and Treasury Department during 2000 - and sometimes a little farther back in time if we find the item particularly humorous or outrageous. Most Treasury Regulations, however, are so complex that they cannot be discussed in detail and, anyway, only a devout masochist would read them all the way through; just the basic topic and fundamental principles are highlighted. Amendments to the Internal Revenue Code generally are not discussed except to …

Recent Developments In Federal Income Taxation: The Year 2006, Ira B. Shepard, Martin J. Mcmahon Jr.

Martin J. McMahon

This recent developments outline discusses, and provides context to understand the significance of, the most important judicial decisions and administrative rulings and regulations promulgated by the Internal Revenue Service and Treasury Department during 2006 - and sometimes a little farther back in time if we find the item particularly humorous or outrageous. Most Treasury Regulations, however, are so complex that they cannot be discussed in detail and, anyway, only a devout masochist would read them all the way through; just the basic topic and fundamental principles are highlighted. Amendments to the Internal Revenue Code generally are not discussed except to …

An Overview Of Taxation Of Non-Resident Company In Nigeria, Oluwaseun Viyon Ojo

Oluwaseun Viyon Ojo

Non-resident companies, though not incorporated in Nigeria but deriving income from the Nigerian economic environment, is subject to tax within the nigerian tax environment under the specific circumstances set out in the provisions of the Companies Income Tax Act. Thus, this paper deals with the specific circumstances under which the non-resident companies will be subject to taxes in Nigeria.

King V. Burwell And The Chevron Doctrine: Did The Court Invite Judicial Activism?, Matthew A. Melone

Matthew A. Melone

No abstract provided.

Law Of Federal Estate And Gift Taxation, David Link, Thomas Shaffer

Thomas L. Shaffer

No abstract provided.

Sharpened Blades: The United States Government’S Aggressive Attempt To Close The “Unpatriotic” Loophole Known As Corporate Inversions, Lili Sowlati

Lili Sowlati

.

The Moral Undercurrent Beneath The Regulatory Regime Of Investor Protection, Huhnkie Lee

Huhnkie Lee

No abstract provided.

Academic Clinics: Benefitting Students, Taxpayers, And The Tax System, Leslie Book

Leslie Book

This brief article discusses academic tax clinics. The article is part of a project commemorating the 75th anniversary of the American Bar Association Section of Taxation's role in public service. The Tax Section has been a staunch supporter of tax clinics and has nurtured clinicians and clinics since the beginning of tax clinics in the late 1960's and 1970's. In this Article, I will discuss my personal connection to the Tax Section and tax clinics, briefly review the current state of academic tax clinics, and offer some suggestions for the future, including how the Tax Section can continue its leadership …