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Articles 1 - 7 of 7
Full-Text Articles in Tax Law
Estate Tax Repeal And The Budget Process, Karen C. Burke, Grayson M.P. Mccouch
Estate Tax Repeal And The Budget Process, Karen C. Burke, Grayson M.P. Mccouch
University of San Diego Law and Economics Research Paper Series
This article examines the Bush Administration’s proposal, as part of its proposed fiscal year 2005 budget, to extend permanently the repeal of the federal estate tax. The article considers the budgetary impact of permanent estate tax repeal and discusses procedural impediments to use of the reconciliation process for permanent tax cuts. The article also notes the possibility of a durable compromise solution involving retention of the estate tax with lower rates and a higher exemption.
The Matthew Effect And Federal Taxation, Martin J. Mcmahon Jr.
The Matthew Effect And Federal Taxation, Martin J. Mcmahon Jr.
UF Law Faculty Publications
The “Matthew Effect” is a synonym for the well-known colloquialism, “the rich get richer and the poor get poorer.” This Article is about the Matthew Effect in the distribution of incomes in the United States and the failure of the federal tax system to address the problem. There has been a strong Matthew Effect in incomes in the United States over the past few decades, with an increasing concentration of income and wealth in the top one percent. Nevertheless, there has been a continuing trend of enacting disproportionately large tax cuts for those at the top of the income pyramid. …
Shape Up Or Ship Out: Accountability To Third Parties For Patent Ambiguities In Testamentary Documents, Angela M. Vallario
Shape Up Or Ship Out: Accountability To Third Parties For Patent Ambiguities In Testamentary Documents, Angela M. Vallario
All Faculty Scholarship
The attorney's preparation of a testamentary document (hereinafter sometimes referred to as a will or revocable trust) should clearly and accurately reflect the client's last wishes. Although these testamentary documents should reflect the client's intent, they often fall short of accomplishing that goal. There are numerous examples of will and trust construction cases that exhaust tremendous resources in an effort to ascertain the client's wishes or intent. Many of these cases involve the construction of patent and/or latent ambiguities which should have been resolved by appropriate drafting. This article's scope is limited to patent ambiguities caused by the attorney's negligence …
Practical Planning Ideas For Distibutions From Iras And Qualified Plans, 37 J. Marshall L. Rev. 807 (2004), Steven R. Lifson
Practical Planning Ideas For Distibutions From Iras And Qualified Plans, 37 J. Marshall L. Rev. 807 (2004), Steven R. Lifson
UIC Law Review
No abstract provided.
Abandoning Principles: Qualified Tuition Programs And Wealth Transfer Taxation Doctrine, Wayne M. Gazur
Abandoning Principles: Qualified Tuition Programs And Wealth Transfer Taxation Doctrine, Wayne M. Gazur
Publications
In 1996 Congress gave its imprimatur to a modest qualified tuition program provision. Over the course of the next five years the provision was expanded, providing additional wealth transfer taxation and income taxation benefits. This essay proposes that unless limited, such benefits are inconsistent with established taxation principles and also have the potential to undermine the integrity of the wealth transfer tax structure and the progressive nature of the income tax.
Family Limited Partnerships: Discounts, Options, And Disappearing Value, Karen C. Burke, Grayson M.P. Mccouch
Family Limited Partnerships: Discounts, Options, And Disappearing Value, Karen C. Burke, Grayson M.P. Mccouch
UF Law Faculty Publications
Family partnerships have been become increasingly popular as a means of avoiding estate and gift taxes. As other estate freezing techniques have been closed off by statutory anti-abuse rules, estate planners have increasingly resorted to partnerships as a vehicle for transferring assets within a family at deeply discounted values. Discounts ranging from one-third to over one-half of the value of the underlying assets are routinely claimed, and often allowed, based on lack of marketability and lack of control, even where these disabilities have no lasting or ascertainable economic effect. Nevertheless, the use of family partnerships to suppress value for transfer …
Investing Trust Assets: Prudence Redefined, Mark R. Gillett
Investing Trust Assets: Prudence Redefined, Mark R. Gillett
Mark R Gillett
No abstract provided.