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Articles 1 - 22 of 22
Full-Text Articles in Tax Law
Taxing Big Data: A Proposal To Benefit Society For The Use Of Private Information, Ziva Rubinstein
Taxing Big Data: A Proposal To Benefit Society For The Use Of Private Information, Ziva Rubinstein
Fordham Intellectual Property, Media and Entertainment Law Journal
Artificial intelligence, the technology that is currently shaping our world, relies on the data that each individual supplies. In 2017, the Economist magazine asserted that “the world’s most valuable resource is no longer oil, but data.” This assertion is supported by the current data market, which became a hundred-billion-dollar industry in the data broker market alone. However, despite its immense value, individuals are not compensated when their data is collected, shared, or when that data is used to replace them in the job market. Further, companies are legally avoiding taxes on this resource, both during its collection and on the …
The Future Of The New International Tax Regime, Rosanne Altshuler, Fadi Shaheen, Jeffrey Colon, Michael Graetz, Rebecca Kysar, Susan Morse, Daniel Shaviro, Richard Phillips, Danielle Rolfes, David Rosenbloom, Stephen Shay, Steven Dean
The Future Of The New International Tax Regime, Rosanne Altshuler, Fadi Shaheen, Jeffrey Colon, Michael Graetz, Rebecca Kysar, Susan Morse, Daniel Shaviro, Richard Phillips, Danielle Rolfes, David Rosenbloom, Stephen Shay, Steven Dean
Fordham Journal of Corporate & Financial Law
No abstract provided.
Framing Middle-Class Insecurity: Tax And The Ideology Of Unequal Economic Growth, Martha T. Mccluskey
Framing Middle-Class Insecurity: Tax And The Ideology Of Unequal Economic Growth, Martha T. Mccluskey
Fordham Law Review
This Article first explains how the prevailing discourse frames federal tax support for the middle class as either consumption or redistribution, both of which appear to be essentially unproductive and potentially destructive. Second, this Article examines the expansion of state and local tax support for elite private capital. In contrast to tax support favoring the middle class, this upper-class support is accepted widely as necessary for productive economic development. Operating below the radar of prominent tax debates, this state and local tax policy reveals more starkly and perversely how prevailing views of tax rationalize inequality and austerity. This Article concludes …
The Decline In Tax Adviser Professionalism In American Society, John S. Dzienkowski, Robert J. Peroni
The Decline In Tax Adviser Professionalism In American Society, John S. Dzienkowski, Robert J. Peroni
Fordham Law Review
In Part I, this Article briefly examines the debate over the proper role of the tax professional in representing clients. Part II discusses whether tax professionals owe special duties to the tax system. Part III analyzes how the tax professionals’ involvement in several waves of tax shelter abuses is in sharp contrast to the high-minded rhetoric of the tax ethics debate. This part also discusses changes in the legal and accounting professions that have contributed to the current state of taxpayer representation. This Article advocates for the position that tax professionals owe a duty to the tax system and such …
Registered Savings Plans And The Making Of Middle-Class Canada: Toward A Performative Theory Of Tax Policy, Lisa Philipps
Registered Savings Plans And The Making Of Middle-Class Canada: Toward A Performative Theory Of Tax Policy, Lisa Philipps
Fordham Law Review
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, however, …
Foreword: We Are What We Tax, Mary Louise Fellows, Grace Heinecke, Linda Sugin
Foreword: We Are What We Tax, Mary Louise Fellows, Grace Heinecke, Linda Sugin
Fordham Law Review
On November 12 and 13, 2015, the Fordham Law Review hosted a symposium entitled We Are What We Tax. We invited scholars with a wide array of expertise inside and outside of the tax arena to consider how tax laws have shaped public and private institutions, cultural norms and hierarchies, and societal values.
Perpetuating Inequality By Taxing Wealth, Goldburn P. Maynard Jr.
Perpetuating Inequality By Taxing Wealth, Goldburn P. Maynard Jr.
Fordham Law Review
This Article attempts to correct this shortcoming in the progressive argument by returning narrative to its central place in the estate tax debate. Drawing on psychological insights, I hope to underscore the difficulty of the effort to preserve progressive taxation and combat wealth inequality.
Job Creationism, Victor Fleischer
Job Creationism, Victor Fleischer
Fordham Law Review
Does a low tax rate on entrepreneurial income create jobs? Tax scholars view this question as empirical in nature. But for many policymakers, voters, and even some academics, the relationship between taxes and entrepreneurship is a matter of faith. If there is a question, it is one of ideological commitment, not evidence and reason. Consider the ease with which politicians claim that tax cuts for entrepreneurs and investors create jobs and fuel economic growth. This claim would appear to be a falsifiable claim subject to empirical observation and testing. But evidence in support of the claim is, in fact, hard …
How Individual Income Tax Policy Affects Entrepreneurship, David Clingingsmith, Scott Shane
How Individual Income Tax Policy Affects Entrepreneurship, David Clingingsmith, Scott Shane
Fordham Law Review
This Article reviews the empirical literature on the effects of individual income tax policy on entrepreneurship. We find no evidence of consensus, even on relatively narrow questions such as whether individual income tax rates deter or encourage entrepreneurial entry. We believe the absence of consensus reflects both the complexity of mechanisms connecting tax policy to entrepreneurial decision making and the infeasibility of employing the most reliable empirical methods, such as experiments, in this domain.
The Currency Of Taxation, Tsilly Dagan
The Currency Of Taxation, Tsilly Dagan
Fordham Law Review
In its canonical rendition, income taxation aspires to achieve the sometimes-conflicting goals of maximizing social welfare and promoting distributive justice. We do not usually think about tax law as participating in the formation of our identities, shaping the ways in which we perceive ourselves, or influencing how we interact with others. I argue, however, that income tax is a powerful social instrument that plays an important role in the construction of our identities and interactions with one another. Income tax law, I claim, simultaneously reflects and shapes our identities, self-perceptions, and social interactions in various contexts, including within our families …
The Semantics Of Sin Tax: Politics, Morality, And Fiscal Imposition, Bruce G. Carruthers
The Semantics Of Sin Tax: Politics, Morality, And Fiscal Imposition, Bruce G. Carruthers
Fordham Law Review
In this Article, I consider how negative social meanings can be projected through public revenue systems and propose to examine the link between taxation and representation in a new light.7 First, I discuss how social meanings are attached to money and then explain how, through the use of earmarking, this works in the case of tax revenues. I next briefly review the history of sin taxes at both the state and federal levels. Finally, I use computational linguistic methods to suggest that the fiscal significance of sin taxes, and their cultural significance, are loosely coupled.
The Social Boundaries Of Corporate Taxation, Sloan G. Speck
The Social Boundaries Of Corporate Taxation, Sloan G. Speck
Fordham Law Review
This Article argues that, while important, efficiency considerations should not function as the sole arbiter of the boundary between corporate and conduit tax treatment. First, classical corporate taxation is, in many ways, deeply embedded within a larger network of legal and social meanings. Classical corporate taxation operates in concert with, rather than separately from, these legal and social meanings. For this reason, the rules governing entities’ tax classification should take these interrelationships into account, if not as a primary norm, then as a secondary consideration when empirical or other uncertainties preclude a clear choice based on efficiency. The social boundaries …
Rhetoric And Reality In The Tax Law Of Charity, Linda Sugin
Rhetoric And Reality In The Tax Law Of Charity, Linda Sugin
Fordham Law Review
This Article contrasts the rhetoric of public benefit connected to charity in the law with the reality of private control of charitable organizations. It argues that the tension between the rhetoric and reality have produced norms of entitlement that undermine taxation. It offers an approach to the role of charity under the law by defining the obligations of government in a just society, qualifying the economic framework dominant in the literature concerning charities, and identifying what private charity can achieve that governments cannot. This Article concludes by endorsing the charitable deduction in the tax law on terms consistent with this …
Liberalism, Philanthropy, And Praxis: Realigning The Philanthropy Of The Republic And The Social Teaching Of The Church, Rob Atkinson
Liberalism, Philanthropy, And Praxis: Realigning The Philanthropy Of The Republic And The Social Teaching Of The Church, Rob Atkinson
Fordham Law Review
This Article seeks a common ground for theists of the Abrahamist religious faiths and agnostics in the Socratic philosophical tradition on the role that the liberal state should play in advancing the two coordinate aims of traditional philanthropy: helping society’s least well off and advancing the highest forms of human excellence. It focuses particularly on Abrahamists who are orthodox Catholics and Socratics who are left-liberals, distinguishing their broad views on the liberal state’s proper philanthropic role from the far narrower views of libertarians and other right-liberals. It concludes that adherents of Catholic Social Teaching and advocates of secular left-liberalism can …
The Curious Beginnings Of The Capital Gains Tax Preference, Ajay K. Mehrotra, Julia C. Ott
The Curious Beginnings Of The Capital Gains Tax Preference, Ajay K. Mehrotra, Julia C. Ott
Fordham Law Review
Despite the importance of the capital gains tax preference, and the controversy it often evokes, there has been relatively little serious scholarly attention paid to the historical development of this highly significant tax provision. This Article seeks to move beyond the normative and presentist concerns for or against the tax preference to recount the empirical beginnings and early twentieth-century development of this important tax law. In exploring the curious beginnings of the capital gains tax preference, this brief Article has several aims. First, its main goal is to show that the preference is not a timeless or transhistorical concept, but …
The Unjustified Subsidy: Sovereign Wealth Funds The Foreign Sovereign Tax Exemption, Jennifer Bird-Pollan
The Unjustified Subsidy: Sovereign Wealth Funds The Foreign Sovereign Tax Exemption, Jennifer Bird-Pollan
Fordham Journal of Corporate & Financial Law
The taxation of Sovereign Wealth Funds in the United States is outmoded and due for reconsideration. Offering a tax exemption to the billion dollar investment funds owned by foreign governments is both unfair and ineffective. Founded in the principles of sovereign immunity, the foreign sovereign tax exemption, codified in I.R.C. § 892, fails to satisfy the Congressional goals that motivated its creation. This Article explains the current taxation of foreign sovereigns and, by extension, Sovereign Wealth Funds. It then illustrates that the current exemption is simultaneously too broad, providing a tax exemption for activities that are clearly nongovernmental activities, and …
The New Section 1202 Tax-Free Business Sale: Congress Rewards Small Businesses That Survived The Great Recession, Beckett G. Cantley
The New Section 1202 Tax-Free Business Sale: Congress Rewards Small Businesses That Survived The Great Recession, Beckett G. Cantley
Fordham Journal of Corporate & Financial Law
On September 27, 2010, President Barack Obama signed the Creating Small Business Jobs Act of 2010 (“SBJA”) that contains a temporary amendment to Internal Revenue Code (“IRC”) § 1202. The amendment permits original shareholders of eligible corporation stock to sell the stock without being taxed on the sale. The temporary amendment initially only applied to certain stock acquired after the enactment of the SBJA and before January 1, 2011, but the amendment was extended on December 17, 2010 for another year ending January 1, 2012. With the impending sunset of the 15% capital gains rate at the end of 2012, …
New York Lifts Death Tax Penalty, Nancy O'Hagan
New York Lifts Death Tax Penalty, Nancy O'Hagan
Fordham Urban Law Journal
New York State replaced its estate tax and repealed its gift tax. This Article will trace the history of the New York State gift and estate taxes, explain the burden they imposed upon New York State residents in relation to other states, and examine the recent legislation in New York State which will gradually eliminate such inequities.
Application Of Internal Revenue Code Section 103(C) To Variable Rate Demand Bonds: Purging The Profiteering Potential, Troy M. Hellenbrand
Application Of Internal Revenue Code Section 103(C) To Variable Rate Demand Bonds: Purging The Profiteering Potential, Troy M. Hellenbrand
Fordham Urban Law Journal
This Note analyzes transactions involving VRDBs, to determine whether they comply with the strictures of IRC section 103(c) and, hence, qualify for the tax exemption. Initially, this Note provides an overview of the tax-exempt bond market by examining the factors that led to the development of VRDBs. It then demonstrates how a reasonable interpretation of the language of IRC section 103(c), gleaned from its legislative history and Treasury promulgations, requires that almost all VRDBs lose their tax-exempt status. More specifically, this Note concludes that the inability to calculate the yield for VRDBs creates an impermissible potential to earn arbitrage profits. …
Targeting Tax Dollars More Efficiently: Proposed Modifications To The 421-A Real Property Tax Exemption, Deborah Ann Konopko
Targeting Tax Dollars More Efficiently: Proposed Modifications To The 421-A Real Property Tax Exemption, Deborah Ann Konopko
Fordham Urban Law Journal
This note discusses Section 421-a of the Real Property Tax Law in New York, which awards a tax exemption to building owners who construct new multi-family housing units under certain conditions. The stated purpose of the statute is to provide safe, habitable dwellings in New York City. This note examines whether 421-a should remain applicable to all multi-family dwellings, including luxury buildings. The author argues that the present standards for granting exemptions represent an inefficient use of tax dollars and that the legislature should limit its application to rental units.
Industrial Development Bond Financing After The Deficit Reduction Act Of 1984: The Final Chapter?, Scott W. Bernstein
Industrial Development Bond Financing After The Deficit Reduction Act Of 1984: The Final Chapter?, Scott W. Bernstein
Fordham Urban Law Journal
Approximately sixteen years after Congress purportedly divested industrial development bonds (IDB) of the general tax exemption accorded interest on state and local obligations, President Reagan signed into law the Deficit Reduction Act of 1984 (1984 Act) which contains a substantial number of provisions affecting IDB financing. Title VII of the 1984 Act places a ceiling on the total dollar amount of IDBs that each state can issue per calendar year, further restricts the use of tax-exempt IDB proceeds, and eliminates various loopholes in the Internal Revenue Code pertaining to IDBs. Coincidentally, on November 27, 1984, the Treasury Department, in its …
The Small Tax Case Procedure: How It Works--Does It Work?, Christopher J. Badum
The Small Tax Case Procedure: How It Works--Does It Work?, Christopher J. Badum
Fordham Urban Law Journal
In 1968 the section of Taxation of the American Bar Association proposed an amendment to the Internal Revenue Code of 1954 to provide for a small claims division in the United States Tax Court. Such a division was thought to be a necessary alternative to the often expensive and time consuming tax litigation procedure in the Tax Court, the Court of Claims, and the district court. Congress adopted the proposal and it was incorporated into the Tax Reform Act of 1969. This Note will discuss the proceedings of bringing suit in the Small Tax Case Division and will propose ways …