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Full-Text Articles in Law
Sales Between A Partnership And Non-Partners, Douglas A. Kahn
Sales Between A Partnership And Non-Partners, Douglas A. Kahn
Articles
The code denies a deduction for a loss recognized on a sale or exchange between certain related parties. Two of the principal code sections that deny a deduction in that circumstance are sections 267(a)(1) and 707(b)(1)(A). Two regulatory provisions promulgated under section 267 apply the denial of a loss deduction rule to partnerships — reg. section 1.267(b)-1(b) and temp. reg. section 1.267(a)-2T(c), Question 2. I conclude that to the extent reg. section 1.267(b)-1(b) applies to section 267(a)(1), it is invalid and has been invalid since 1986. Also, two of the questions and answers in the temporary regulation are invalid.
Tax Exceptionalism: Wanted Dead Or Alive, Gene Magidenko
Tax Exceptionalism: Wanted Dead Or Alive, Gene Magidenko
University of Michigan Journal of Law Reform Caveat
Tax law has just not been the same since January 2011. Did Congress pass earthshaking legislation affecting the Internal Revenue Code? Did the IRS dramatically change regulations? If only it were that exciting. Instead, eight jurists sitting at One First Street in our nation’s capital transformed tax law in a less bloody, but no less profound, way. The thought must have gone through many a tax mind – is tax exceptionalism dead?