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Full-Text Articles in Law
Federal Taxation, Robert Beard
Federal Taxation, Robert Beard
Mercer Law Review
The past year saw few significant tax cases decided in the United States Court of Appeals for the Eleventh Circuit.' However, the court did issue two interesting opinions: one dealing with the characterization of a real estate developer's gain as ordinary income and another dealing with a statutory interpretation question relating to the first-time homebuyer tax credit. These two cases, both reversals of the United States Tax Court, are discussed below.
Dodging The Taxman: Why The Treasury’S Anti-Abuse Regulation Is Unconstitutional, Linda D. Jellum
Dodging The Taxman: Why The Treasury’S Anti-Abuse Regulation Is Unconstitutional, Linda D. Jellum
Articles
To combat abusive tax shelters, the Department of the Treasury promulgated a general anti-abuse regulation applicable to all of subchapter K of the Internal Revenue Code of 1986. The Treasury targeted subchapter K because unique aspects of the partnership tax laws—including its aggregate-entity dichotomy—foster creative tax manipulation. In the anti-abuse regulation, the Treasury attempted to “codify” existing judicially- created anti-abuse doctrines, such as the business-purpose and economic-substance doctrines. Also, and more surprisingly, the Treasury directed those applying subchapter K to use a purposivist approach to interpretation and to reject textualism. In this article, I demonstrate that the Treasury exceeded both …