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Full-Text Articles in Law
Murphy And The Evolution Of "Basis", Deborah A. Geier
Murphy And The Evolution Of "Basis", Deborah A. Geier
Law Faculty Articles and Essays
Marrita Murphy received compensatory damages of $45,000 for emotional distress or mental anguish and $25,000 for injury to professional reputation after bringing a complaint with the Department of Labor under various whistle-blower statutes. A three-judge panel of the U.S. Court of Appeals for the D.C. Circuit unanimously held, in an opinion written by Chief Judge Douglas Ginsburg, that Murphy's damages were not due to physical injury and thus could not be excluded under the authority of section 104(a)(2) of the Internal Revenue Code but that the government nevertheless could not, under the Constitution, tax those damages as income. The government …
"Expense" Deductions On "Personal" Gross Income, Deborah A. Geier
"Expense" Deductions On "Personal" Gross Income, Deborah A. Geier
Law Faculty Articles and Essays
Prof. Deborah A. Geier responds to Tom Daley's letter on the taxation of contingent attorney fees.
The Taxation Of Income Available For Discretionary Use, Deborah A. Geier
The Taxation Of Income Available For Discretionary Use, Deborah A. Geier
Law Faculty Articles and Essays
The signature tax policy tension of the last two decades (at least) has been whether the federal tax base ought to reach income or only consumption. At the individual level, the current Internal Revenue Code (payroll taxes aside) incorporates an income tax base with numerous consumption tax components - provisions that allow either immediate deduction of a non-consumption capital expenditure (as under a cash-flow consumption tax), such as qualified pension plan and IRA savings, or exclusion of the returns to capital (as under a wage tax), such as the exclusion for home sale gain and Section 103 interest. (A more …
On Capital Gains And Marginal Tax Rates, Deborah A. Geier
On Capital Gains And Marginal Tax Rates, Deborah A. Geier
Law Faculty Articles and Essays
The current tax treatment of qualified residence interest is far from perfect. The President's Advisory Panel on Federal Tax Reform's proposal related to the current home mortgage interest deduction does little to advance Congress' clearly-stated policy of encouraging homeowership while, at the same time, it will have an almost-certain negative effect on home prices. The author asserts that those whose home is their most valuable asset have much to fear should the Panel's recommendations come to fruition.