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Full-Text Articles in Tax Law

The Negative Capital Account Maze, Walter D. Schwidetzky Aug 2017

The Negative Capital Account Maze, Walter D. Schwidetzky

All Faculty Scholarship

Outside Hubert I and Hubert II, there has been little discussion of negative capital accounts in the tax context and almost no discussion in the nontax context. Nontax law, however, is critically important. This report provides an integrated discussion of the application of tax and nontax law to negative capital accounts.

One of the challenges in writing this report is that it requires a discussion of both the at-risk rules of section 465 and the debt allocation rules of section 752. Complex issues involving sections 465 and 752 and their interaction are worthy of their own articles. Indeed, others have ...


Sex, Tax And The Charter: A Review Of Thibaudeau V. Canada, Lisa Philipps, Margot Young Jul 2017

Sex, Tax And The Charter: A Review Of Thibaudeau V. Canada, Lisa Philipps, Margot Young

Lisa Philipps

Section 15 of the Charter offers the promise of redressing many systemic inequalities in the law. This paper considers the implications of section 15 for the taxation of child support payments, an issue raised in the Thibaudeau case. While endorsing the Federal Court of Appeal's decision that the current tax regime is unconstitutional, the authors take issue with the Court's reasoning in reaching this result. In the first part of their paper, the authors address a number of shortcomings in the Court's equality analysis, arguing that the process employed by the Court ignored critical aspects of equality ...


Registered Savings Plans And The Making Of Middle-Class Canada: Toward A Performative Theory Of Tax Policy, Lisa Philipps Jul 2017

Registered Savings Plans And The Making Of Middle-Class Canada: Toward A Performative Theory Of Tax Policy, Lisa Philipps

Lisa Philipps

Campaigning politicians and elected governments across Canada’s political spectrum strive to position themselves as defenders of the middle class. This is to be expected given the large proportion of the Canadian population that self-identifies as middle class. Since the term lacks precision, it is a claim that can accommodate a wide range of policy proposals. Tax policy serves as a prime vehicle for making this appeal to middle-class voters. Undoubtedly, any tax reform proposal can be examined critically to evaluate its likely distributional impacts and how well these map onto specific definitions of the middle class. This Article attempts ...


An Appraisal Of The Tax Implications Of Derivative Instruments In Nigeria, Oluwaseun Viyon Ojo Jun 2017

An Appraisal Of The Tax Implications Of Derivative Instruments In Nigeria, Oluwaseun Viyon Ojo

Oluwaseun Viyon Ojo

With the recent fall in the prices of Crude Oil and other commodities in the international Market and the attendant adverse effect on the Nigerian economy coupled with the Exchange risks arising from the sale and purchase of foreign currencies in the Foreign Exchange Market(FOREX), there was the need to come up with strategies for managing the risks associated with the fluctuations in  the Exchange Rates by the introduction of derivatives  for adoption by the various stakeholders and  players in the market.Generally, Derivatives are usually used to hedge against risks and fluctuations in the Financial Market. The increasing ...


Offshore Accounts: Insider's Summary Of Fatca And Its Potential Future, J. Richard Harvey Jr. Jun 2017

Offshore Accounts: Insider's Summary Of Fatca And Its Potential Future, J. Richard Harvey Jr.

Richard Harvey

No abstract provided.


A Progressive Federal Tax Credit For State Tax Payments, Eric Kades Jun 2017

A Progressive Federal Tax Credit For State Tax Payments, Eric Kades

Popular Media

No abstract provided.


Business Taxes Reinvented: The Dual Business Enterprise Income Tax, Edward D. Kleinbard Jun 2017

Business Taxes Reinvented: The Dual Business Enterprise Income Tax, Edward D. Kleinbard

University of Southern California Legal Studies Working Paper Series

This short overview and accompanying term sheet summarize the key features of a proposed comprehensive business tax environment termed the Dual Business Enterprise Income Tax (the Dual BEIT). The term sheet format is a useful mode of presentation for capturing in one accessible document the major policy recommendations of the Dual BEIT (or any other comprehensive tax reform proposal).

This paper makes the case that the Dual BEIT satisfies the objectives of policymakers from both parties for comprehensive business tax reform that can serve as the platform for economic growth while collecting appropriate levels of tax revenue. The arguments are ...


Denying Disgorgement: The Supreme Court’S Refusal To Grant The Crow Tribe Relief, Alex Galliani Jun 2017

Denying Disgorgement: The Supreme Court’S Refusal To Grant The Crow Tribe Relief, Alex Galliani

Boston College Environmental Affairs Law Review

In Montana v. Crow Tribe of Indians, the United States Supreme Court declined to award the Crow Tribe of Indians disgorgement of coal taxes collected by Montana from a mining company with operations on the Tribe’s reservation. The Supreme Court justified its decision by distinguishing the 1939 Montana Supreme Court case Valley County v. Thomas, referencing the precedent set by Cotton Petroleum Corp. v. New Mexico, and noting that the Tribe lacked the necessary approval to tax from the Department of the Interior. This Comment argues that the Supreme Court should have granted the Tribe full disgorgement, partial disgorgement ...


Transparency, Disclosure And Developing Countries, Diane M. Ring May 2017

Transparency, Disclosure And Developing Countries, Diane M. Ring

Diane M. Ring

No abstract provided.


Front Matter (Letter From The Editor, Masthead, Etc.) May 2017

Front Matter (Letter From The Editor, Masthead, Etc.)

The Contemporary Tax Journal

No abstract provided.


Country By Country Reporting Under Beps, Fenny Lei May 2017

Country By Country Reporting Under Beps, Fenny Lei

The Contemporary Tax Journal

No abstract provided.


Proposition 64 Legalizes Marijuana In California But The War On Drugs Continues, Jessica Wong May 2017

Proposition 64 Legalizes Marijuana In California But The War On Drugs Continues, Jessica Wong

The Contemporary Tax Journal

No abstract provided.


U.S. Tax Forms For American Expatriates, Saqib Amin Cpa May 2017

U.S. Tax Forms For American Expatriates, Saqib Amin Cpa

The Contemporary Tax Journal

No abstract provided.


Bringing The U.S. Tax Court Exam Out Of Obscurity, Lucia Nasuti Smeal J.D., Tad D. Ransopher J.D. May 2017

Bringing The U.S. Tax Court Exam Out Of Obscurity, Lucia Nasuti Smeal J.D., Tad D. Ransopher J.D.

The Contemporary Tax Journal

No abstract provided.


Summaries For The 32nd Annual Tei-Sjsu High Tech Tax Institute, Saqib Amin, Silin Chen, Ophelia Ding, Veena Hemachandran, Elle San Pedro De Kornsand, Padmini Yalamarthi, Yu Zheng May 2017

Summaries For The 32nd Annual Tei-Sjsu High Tech Tax Institute, Saqib Amin, Silin Chen, Ophelia Ding, Veena Hemachandran, Elle San Pedro De Kornsand, Padmini Yalamarthi, Yu Zheng

The Contemporary Tax Journal

No abstract provided.


The Contemporary Tax Journal Volume 6, No. 2 – Spring 2017 May 2017

The Contemporary Tax Journal Volume 6, No. 2 – Spring 2017

The Contemporary Tax Journal

No abstract provided.


Base Erosion And Profit Shifting: How Corporations Use Transfer Pricing To Avoid Taxation, Gregory Pun May 2017

Base Erosion And Profit Shifting: How Corporations Use Transfer Pricing To Avoid Taxation, Gregory Pun

Boston College International and Comparative Law Review

In an increasingly global economy, base erosion and profit shifting (BEPS) has allowed multinational corporations to utilize their subsidiaries to move assets and profits. As a result, corporations are able to lower their tax bills, but also deprive governments of integral tax funds, while leaving smaller competitors who pay their fair share of taxes at a disadvantage. To combat the effects of BEPS, the Organization for Economic Cooperation and Development (OECD) has collaborated with the Group of 20 (G20) major economies for the first time to implement an action plan. The BEPS Project seeks to ensure all corporations pay proper ...


Capital Taxation In An Age Of Inequality, Edward D. Kleinbard May 2017

Capital Taxation In An Age Of Inequality, Edward D. Kleinbard

University of Southern California Legal Studies Working Paper Series

The standard view in the U.S. tax law academy remains that capital income taxation is both a poor idea in theory and completely infeasible in practice. But this ignores the first-order importance of political economy issues in the design of tax instruments. The pervasive presence of gifts and bequests renders moot the claim that the results obtained by Atkinson and Stiglitz (1976) counsel against taxing capital income in practice.

Taxing capital income is responsive to important political economy exigencies confronting the United States, including substantial tax revenue shortfalls relative to realistic government spending targets, increasing income and wealth inequality ...


Statutory Interpretation Lessons Courtesy Of Pilgrim’S Pride, Philip G. Cohen May 2017

Statutory Interpretation Lessons Courtesy Of Pilgrim’S Pride, Philip G. Cohen

University of Miami Business Law Review

In Pilgrim’s Pride Corp. v. Commissioner, the Fifth Circuit reversed the Tax Court and held that the taxpayer was entitled to an ordinary loss deduction from its abandonment of securities. While the conclusion reached by the Fifth Circuit has been overshadowed by the promulgation of Treasury Regulation section 1.165-5(i) that effectively treats an abandoned security as worthless and thus characterizes the loss as capital, the case remains noteworthy because it provides an opportunity to examine the statutory interpretation of two distinct Internal Revenue Code sections, section 165(g)(1) and section 1234A. The article focuses on what ...


Taxation, Competitiveness, And Inversions: A Response To Kleinbard, Michael S. Knoll May 2017

Taxation, Competitiveness, And Inversions: A Response To Kleinbard, Michael S. Knoll

Faculty Scholarship

In this report, I argue that the inversion situation is more nuanced, complex, and ambiguous than Edward D. Kleinbard acknowledges, and I challenge Kleinbard’s claim that U.S. multinationals are on a tax par with their foreign competitors.


Partnership Tax Allocations: The Basics, Walter D. Schwidetzky May 2017

Partnership Tax Allocations: The Basics, Walter D. Schwidetzky

All Faculty Scholarship

This article endeavors to help practitioners who are not partnership tax allocation experts identify when they should consult with those with that expertise. The partnership-allocation Treasury Regulations have been called "a creation of prodigious complexity ... essentially impenetrable to all but those with the time, talent, and determination to become thoroughly prepared experts on the subject." This article is written for those, to date at least, without that time and determination. At the same time, the article provides an introduction to the partnership tax allocation rules for those contemplating making the requisite investment of time and determination.

The term "partnership," for ...


Tax Impact On Charitable Organizations, Honorable Barber Conable Apr 2017

Tax Impact On Charitable Organizations, Honorable Barber Conable

The Catholic Lawyer

No abstract provided.


Difficult Definitional Problems In Tax Administration: Religion And Race, Jerome Kurtz Apr 2017

Difficult Definitional Problems In Tax Administration: Religion And Race, Jerome Kurtz

The Catholic Lawyer

No abstract provided.


Why The Charitable Deduction For Gifts To Educational Endowments Should Be Repealed, Herwig Schlunk Apr 2017

Why The Charitable Deduction For Gifts To Educational Endowments Should Be Repealed, Herwig Schlunk

University of Miami Law Review

No abstract provided.


The Sermon On The Mountain Of Cash: How To Curtail The Prosperity Scheme And Prevent Opportunists From “Preying” On Vulnerable Parishioners, Jacob M. Bass Apr 2017

The Sermon On The Mountain Of Cash: How To Curtail The Prosperity Scheme And Prevent Opportunists From “Preying” On Vulnerable Parishioners, Jacob M. Bass

Boston College Journal of Law & Social Justice

Many televangelists in the United States preach the “prosperity gospel,” a doctrine which teaches that a religiously faithful person who continually donates money to church ministries can expect God to grant material improvements to their finances, health, and relationships. Americans who participate in prosperity gospel churches often donate thousands of dollars to these churches, despite their difficulty financing such large donations and the lack of the promised material improvement to their lives. Televangelists who preach the prosperity gospel secretly use these donations to finance their extravagant lifestyles, instead of using the funds to support the faithful masses who continue to ...


Should Foreign Pension Funds With U.S. Investments Pay U.S. Tax?, Cynthia Blum Apr 2017

Should Foreign Pension Funds With U.S. Investments Pay U.S. Tax?, Cynthia Blum

William & Mary Business Law Review

U.S. and foreign pension funds are investing heavily outside of their home countries. With the aging of the world’s population, this trend will likely intensify. Most countries, including the U.S., accord a tax exemption to certain qualified pension funds organized within their own country; however, when a foreign pension fund invests in the U.S., the U.S. tax code does not recognize its tax exemption. Responding to the need to attract greater investment in U.S. infrastructure, Congress in 2015 enacted a new provision ameliorating the tax treatment of foreign pension plans investing in U.S ...


A Return On Investment: How The Breastfeeding Promotion Act Can Change The Make-Up Of The Private Workforce, Krishna Jani Apr 2017

A Return On Investment: How The Breastfeeding Promotion Act Can Change The Make-Up Of The Private Workforce, Krishna Jani

William & Mary Journal of Women and the Law

No abstract provided.


Panel Discussion On Unrelated Business Income Tax, Robert M. Spevack, Charles M. Whelan, S.J., George E. Reed Apr 2017

Panel Discussion On Unrelated Business Income Tax, Robert M. Spevack, Charles M. Whelan, S.J., George E. Reed

The Catholic Lawyer

No abstract provided.


Exemptions From Unrelated Business Tax - Rental Income, George E. Reed Apr 2017

Exemptions From Unrelated Business Tax - Rental Income, George E. Reed

The Catholic Lawyer

No abstract provided.


Taxation Of Advertising Income Of Exempt Organizations' Publications, Robert M. Spevack Apr 2017

Taxation Of Advertising Income Of Exempt Organizations' Publications, Robert M. Spevack

The Catholic Lawyer

No abstract provided.