Law Commons^™

Working With The Section 752 Partnership Liability Allocation Rules (Outline), Jennifer H. Alexander, Andrea M. Whiteway

William & Mary Annual Tax Conference

No abstract provided.

Structuring And Restructuring Deals In 2014 (And Beyond), Stephen L. Owen

William & Mary Annual Tax Conference

No abstract provided.

Overview Of Civil Tax Penalties, Craig D. Bell, Christopher S. Rizek

William & Mary Annual Tax Conference

No abstract provided.

Working With The Section 752 Partnership Liability Allocation Rules (Slides), Jennifer H. Alexander, Andrea M. Whiteway

William & Mary Annual Tax Conference

No abstract provided.

Deferred Compensation Reform: Taxing The Fruit Of The Tree In Its Proper Season, Eric D. Chason

Faculty Publications

Executive pensions (or deferred compensation) grabbed headlines after Enron's collapse and fresh concerns over ever-increasing executive pay. They also grabbed the attention of Congress, which reformed executive pensions legislatively in 2004 with § 409A of the Internal Revenue Code. Section 409A merely tightens and clarifies the doctrines that had already governed executive pensions, leaving the basic economics of executive pensions unchanged. Executives can still defer taxation on current compensation until actual payment is made in the future. Deferral still comes at the same price to the employer, namely the deferral of its deduction for the compensation expense. Thus, the timing …

What Corporate Tax Shelters Can Teach Us About The Structure Of Subchapter C, Glenn E. Coven

Faculty Publications

Coven argues that the rules extending nonrecognition treatment to the incorporation of property never have been properly integrated with the double taxation of corporations. As a result, the duplicate burden or benefit is applied retroactively. That defect, Coven believes, has been long overlooked, but now that it has been exploited by one popular version of the loss replicating corporate tax shelter, it must be addressed. The remedy applied by Congress to the tax shelter in section 358(h) is insufficient, does not operate correctly and undermines the integrity of the code, he says.

This article proposes a more comprehensive solution that …

Basis Shifting - A Radical Approach To An Intractable Problem, Glenn E. Coven

Faculty Publications

Coven asserts that one of the lingering ambiguities in subchapter C is how an appropriate tax benefit can be obtained from the tax basis that "disappears" when a shareholder's interest is completely redeemed but the transaction is treated as a dividend because stock held by others is attributed to the former shareholder. He believes that Treasury was content to rely on manifestly inadequate regulations to resolve that issue until taxpayers discovered how to convert those regulations into a potent tax shelter. The amendment to those regulations, proposed in 2002, however, was fatally flawed, according to Coven.

In this article, Coven …

Who Should Be Entitled To Claim The New Education Credits?, Glenn E. Coven

Faculty Publications

Professor Coven believes that the education assistance provisions enacted in 1997, while long overdue, were ill-considered and poorly constructed. Focusing on what should have been the simple question of who is entitled to claim an education tax credit, this report illustrates the harm that inadequate drafting produces. While section 25A appeared to deny a credit to a dependent child, an unfair and unwise result, the proposed regulations allow parents to shift the credit to their children but only on the forfeiture of the deduction for the personal exemption. That rule, says Coven, imposes a harsh penalty on low and middle-income …

Ethical Issues In Tax Practice, Robert I. Brauer, James P. Holden

William & Mary Annual Tax Conference

No abstract provided.

Integrating Qualified Plan Distributions Into The Overall Financial And Estate Plan, Bruce J. Temkin

William & Mary Annual Tax Conference

No abstract provided.

Allocation Of Nonrecourse Liabilities: Irs Takes Two Steps Forward, One Back, J. D. Dell, Michael G. Frankel, Leslie H. Loffman, Sanford C. Presant, Blake D. Rubin

William & Mary Annual Tax Conference

No abstract provided.

Planning Opportunities Remain Under The Final Partnership Allocation Rules For Contributed Property, Michael G. Frankel, Leslie H. Loffman, Sanford C. Presant

William & Mary Annual Tax Conference

No abstract provided.

Meeting With Irs Regarding Partnership Issues In Developing Section 1017 Regulations, Blake D. Rubin

William & Mary Annual Tax Conference

No abstract provided.

Partnership Workouts: Problems And Solutions Under Final Section 704(B) And 752 Regulations, Michael G. Frankel, Charles H. Coffin

William & Mary Annual Tax Conference

No abstract provided.

Focus On Capitalization V. Deductibility - Environmental Remediation, Stefan F. Tucker

William & Mary Annual Tax Conference

No abstract provided.

The Tax Treatment Of Environmental Cleanup Costs, Blake D. Rubin, Seth Green, Katherine P. Rosefsky

William & Mary Annual Tax Conference

No abstract provided.

Planning For The Taxable Disposition Of Overleveraged Property, Blake D. Rubin

William & Mary Annual Tax Conference

No abstract provided.

The Like Kind Exchange: Everything You Need To Know, Whether Or Not You Wanted To Ask, Stefan F. Tucker

William & Mary Annual Tax Conference

No abstract provided.

Partnership Profits Share For Services: An Aggregate Exegesis Of Revenue Procedure 93-27 (Part 1), John W. Lee

Faculty Publications

In this article, Lee charts two alternative methods for implementing an aggregate solution to the problem of partnership profits share exchanged for services. The functional, or judicial, method, he explains, is to handle (1) the exchange of partner-capacity services for a profit share subject to the risk of the venture with the Culbertson "common law relation of partnership," nonrealization event doctrine, implicitly contemplated by the 1984 legislative history to section 707(a)(2); (2) the classic Diamond transitory partner with a substance-over-form rule or step-transaction rule; and (3) a sale of the partnership interest in circumstances that would result in ordinary income …

Miscellaneous Revenue Issues: Hearings Before The Subcommittee On Select Revenue Measures Of The Committee On Ways And Means, House Of Representatives, One Hundred Third Congress, First Session, Charles B. Rangel, Mel Hancock, Stefan F. Tucker, B. Wyckliffe Pattishall Jr., Howard J. Levine, John W. Lee

Congressional Testimony

No abstract provided.

Intangible Asset Depreciation: Newark And Section 197, Kenneth W. Gideon

William & Mary Annual Tax Conference

No abstract provided.

Planning Opportunities After Chapter 14 (Section 2701 And 2702), Frederic A. Nicholson

William & Mary Annual Tax Conference

No abstract provided.

Section 382: Net Operating Loss Carryovers In Corporate Acquisitions, Peter L. Faber

William & Mary Annual Tax Conference

No abstract provided.

Interest Allocation Rules: The Nightmare Continues, Philip J. Wiesner

William & Mary Annual Tax Conference

No abstract provided.

Current Issues In Estate Planning Featuring The Replacement Of Section 2036(C), Ronald D. Aucutt

William & Mary Annual Tax Conference

No abstract provided.

The Affiliated Management Group And Code § 414(M), Robert M. Reed

William & Mary Annual Tax Conference

No abstract provided.

Chaos In Wonderland: A Review Of The Regulations Issued Under Irc Section 89, Rebecca J. Miller

William & Mary Annual Tax Conference

No abstract provided.

Corporate Divisions Under Section 355, Mark J. Silverman, Kevin M. Keyes

William & Mary Annual Tax Conference

No abstract provided.

Section 2036(C), Jere D. Mcgaffey

William & Mary Annual Tax Conference

No abstract provided.

Tax Aspects Of Divorce And Separation: Alimony, Child Support And Property Transfers, Robert E. Lee

William & Mary Annual Tax Conference

No abstract provided.