Law Commons^™

The Taxation Of The Unrelated Business Activities Of Exempt Organizations: Where Do We Stand? Where Do We Seem To Be Headed?, Donald C. Haley

Akron Tax Journal

This article reviews the background of the UBIT, analyzes and evaluates recent court decisions interpreting the hotly debated criteria for its imposition, reviews the status and potential implications of current Congressional consideration of revisions to the UBIT, and concludes with an evaluation of the prevailing authority and the criteria for its application.

The University Of Akron Center For Taxation Studies Report: Complexity And Compliance Consequences Of The 1986 Reform Act

Akron Tax Journal

The study's goal was to determine whether tax experts (a tax expert was defined by association with professional tax organizations and years of experience in the field) believe that the Reform Act has resulted in a Federal tax policy which is substantially more complex than pre-1986 regulations. Individuals interviewed are experts in the practice of providing tax information and tax advice. They were selected from the members of the Tax Sections of the American Bar Association (ABA) and the American Institute of Certified Public Accountants (AICPA). The study sought expert opinions on the impact of the 1986 Act on tax …

The Interpretation Of Taxing Statutes: The English Perspective, Nicola Preston

Akron Tax Journal

Revenue law is entirely a creature of statute. The maxim that there is "no equity in tax" is embodied in the Bill of Rights 1689 which provided for "no taxation without legislation." This principle was of major political importance in 1689 because prior to the English Civil War 1642-49, Charles I had attempted to raise funds without the aid of Parliament, by inter alia, levying a window tax' and imposing the payment of ship money nationwide. The authors of the Bill of Rights were keen to ensure that the monarch would be unable to exercise such absolute power in the …

Some Planning Considerations In Light Of The Second Set Of Pal Regulations, Hans-Dieter Sprohge

Akron Tax Journal

This article consists of three parts: (1) an overview of the definition of an activity, (2) planning considerations, and (3) a summary of amendments to the first set of PAL Regulations. First, the overview section explains that a separate activity is an undertaking that consists of income-producing operations at a single location that are either predominantly rental operations or predominantly trade or business operations. Second, the overview discusses the aggregation and fragmentation rules for rental activities and trade or business activities. The Regulations provide detailed rules only for aggregating separate rental real estate activities into a single activity or for …

Deductibility Of Mandatory Donations To Religious Organizations Under The Internal Revenue Code, Sandra Machan

Akron Tax Journal

Church of Scientology members discovered their "inner selves" through "auditing" I and studied Church doctrines and tenets during "training" sessions. To participate in the auditing and training sessions, members paid mandatory or fixed fees to the Church.

In a recent United States Supreme Court Case, the Court considered whether the mandatory donations made to the Church of Scientology constituted a charitable deduction. The Court determined that the members made the mandatory donations with the expectation of a commensurate return benefit (i.e., a quid pro quo). and disallowed the charitable contribution deductions.

Although the Court's decision to disallow the deductions affected …

Towards An Understanding Of The Principles And Application Of The Temporary Regulations Under Internal Revenue Code Section 752, Madeline Mcguckin

Akron Tax Journal

This paper explores the methodology by which the Service has implemented the Congressional directive to allocate basis under I.R.C. §752 in accordance with economic realities. I.R.C. §752 contains rules for adjustment to a partner's basis in her partnership interest to reflect her share of the partnership's liabilities. The temporary regulations contain an elaborate set of rules for determining whether any partner bears the economic risk of loss with respect to a partnership liability, and for allocation of partnership liabilities among the partners in a manner consistent with the economic risk of loss analysis.

Should Internal Revenue Code Section 277 Be Applied To Cooperative Housing Organizations?, Nina J. Crimm

Akron Tax Journal

Whether IRC section 277 should be applied to cooperative housing corporations is the subject addressed by this article. First, the article explores the terms of the statute and Congress' intent in adopting it. In doing so, the article assesses the functions of cooperative housing organizations and the connections that such organizations and section 277 have with other federal tax provisions. Finally, the article considers whether the application of IRC section 277 to cooperative housing corporations is fair.