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Full-Text Articles in Law

Codification Of The Economic Substance Doctrine: Agency Response And Certain Other Unforeseen Consequences, Rebecca Rosenberg Nov 2018

Codification Of The Economic Substance Doctrine: Agency Response And Certain Other Unforeseen Consequences, Rebecca Rosenberg

William & Mary Business Law Review

Section 7701(o) of the Internal Revenue Code incorporates the controversial judicial doctrine of economic substance into statutory language. In other words, it “codifies” the doctrine. (The economic substance doctrine generally provides that a tax benefit that goes beyond Congressional intent can be disallowed by the courts, even if the taxpayer meets all of the literal Code and regulatory requirements for claiming the benefit.)

This codification appears to have accidentally dissuaded the relevant agency (the Internal evenue Service, or IRS) from raising economic substance issues—an effect that is contrary to Congress’s intent in enacting the doctrine into legislation. Essentially, Congress imported …


Politics Of Tax Reform: Outline, Evan M. Migdail Nov 2018

Politics Of Tax Reform: Outline, Evan M. Migdail

William & Mary Annual Tax Conference

No abstract provided.


Choice Of Entity After Tax Reform – The New Normal (Outline), N. Pendleton Rogers Nov 2018

Choice Of Entity After Tax Reform – The New Normal (Outline), N. Pendleton Rogers

William & Mary Annual Tax Conference

No abstract provided.


New Rules Of The Road For Interest And Depreciation Deductions And Like-Kind Exchanges After Tax Reform (Powerpoint), Robert D. Schachat Nov 2018

New Rules Of The Road For Interest And Depreciation Deductions And Like-Kind Exchanges After Tax Reform (Powerpoint), Robert D. Schachat

William & Mary Annual Tax Conference

No abstract provided.


Powers Of Deduction: Tax-Saving Strategies Under The Legislation Formerly Known As The Tax Cuts And Jobs Act (Powerpoint), Thomas J. Pauloski Nov 2018

Powers Of Deduction: Tax-Saving Strategies Under The Legislation Formerly Known As The Tax Cuts And Jobs Act (Powerpoint), Thomas J. Pauloski

William & Mary Annual Tax Conference

No abstract provided.


Federal Tax Update (Powerpoint), Stephen L. Owen Nov 2018

Federal Tax Update (Powerpoint), Stephen L. Owen

William & Mary Annual Tax Conference

No abstract provided.


When Are You An Investor Versus A Dealer In Real Property? (Powerpoint), James B. Sowell, Stephen J. Giordano Nov 2018

When Are You An Investor Versus A Dealer In Real Property? (Powerpoint), James B. Sowell, Stephen J. Giordano

William & Mary Annual Tax Conference

No abstract provided.


Applying The New 20% Passthroughs Deduction Under Section 199a In The Real World (Powerpoint), James B. Sowell, Stephen J. Giordano, Mark C. Van Deusen Nov 2018

Applying The New 20% Passthroughs Deduction Under Section 199a In The Real World (Powerpoint), James B. Sowell, Stephen J. Giordano, Mark C. Van Deusen

William & Mary Annual Tax Conference

No abstract provided.


Mergers And Acquisitions Of Closely-Held Corporations (Powerpoint), Jerald D. August Nov 2018

Mergers And Acquisitions Of Closely-Held Corporations (Powerpoint), Jerald D. August

William & Mary Annual Tax Conference

No abstract provided.


Nonqualified Employee Benefits For Privately-Held Companies – Equity And Deferred Compensation Opportunities (Outline), Taylor W. French, G. William Tysse Nov 2018

Nonqualified Employee Benefits For Privately-Held Companies – Equity And Deferred Compensation Opportunities (Outline), Taylor W. French, G. William Tysse

William & Mary Annual Tax Conference

No abstract provided.


Recent Developments In Virginia Taxation, Craig D. Bell Nov 2018

Recent Developments In Virginia Taxation, Craig D. Bell

William & Mary Annual Tax Conference

No abstract provided.


International Provisions Of Public Law No. 115-97 (The “Tcja”) (Powerpoint), William B. Sherman Nov 2018

International Provisions Of Public Law No. 115-97 (The “Tcja”) (Powerpoint), William B. Sherman

William & Mary Annual Tax Conference

No abstract provided.


At A Loss: Excess Business Loss And Nol Provisions Of The Tcja (Powerpoint), Brian J. O'Connor, Stephen M. Sharkey Nov 2018

At A Loss: Excess Business Loss And Nol Provisions Of The Tcja (Powerpoint), Brian J. O'Connor, Stephen M. Sharkey

William & Mary Annual Tax Conference

No abstract provided.


Advising Partners And Partnerships Under The New Centralized Partnership Audit Rules: The Need To Amend Partnership And Llc Operating Agreements (Powerpoint), Jerald D. August Nov 2018

Advising Partners And Partnerships Under The New Centralized Partnership Audit Rules: The Need To Amend Partnership And Llc Operating Agreements (Powerpoint), Jerald D. August

William & Mary Annual Tax Conference

No abstract provided.


Mergers And Acquisitions Of Closely-Held Corporations (Outline), Jerald D. August Nov 2018

Mergers And Acquisitions Of Closely-Held Corporations (Outline), Jerald D. August

William & Mary Annual Tax Conference

No abstract provided.


An Overview Of Partnerships (Powerpoint), Ari Berk, Drew Tidwell Nov 2018

An Overview Of Partnerships (Powerpoint), Ari Berk, Drew Tidwell

William & Mary Annual Tax Conference

No abstract provided.


2018 Schedule Nov 2018

2018 Schedule

William & Mary Annual Tax Conference

No abstract provided.


2018 Tax Conference Forms Nov 2018

2018 Tax Conference Forms

William & Mary Annual Tax Conference

No abstract provided.


2018 Tax Conference Speakers Nov 2018

2018 Tax Conference Speakers

William & Mary Annual Tax Conference

No abstract provided.


Directed Tax Holidays: Economic Stimulus Or Corporate Dream?, Dakota Newton Apr 2018

Directed Tax Holidays: Economic Stimulus Or Corporate Dream?, Dakota Newton

William & Mary Business Law Review

U.S. corporations currently have more than $2.4 trillion stashed in the accounts of their overseas subsidiaries—a sum that costs the domestic economy billions of dollars every year. A directed tax holiday is one potential method of inducing repatriation of those funds and stimulating the domestic economy. Although a previous tax holiday failed to meet expectations, current proposals from the public and private sectors suggest that a directed tax holiday could fund much-needed infrastructure investment. A review and economic analysis of these proposals shows that a directed tax holiday that channels revenue into expanding and updating infrastructure will greatly benefit the …


The Natural Property Rights Straitjacket: The Takings Clause, Taxation, And Excessive Rigidity, Eric Kades Apr 2018

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

Faculty Publications

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 …