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Full-Text Articles in Taxation-Federal

The Ncaa And The Irs: Life At The Intersection Of College Sports And The Federal Income Tax, Richard L. Schmalbeck, Lawrence A. Zelenak Jan 2019

The Ncaa And The Irs: Life At The Intersection Of College Sports And The Federal Income Tax, Richard L. Schmalbeck, Lawrence A. Zelenak

Faculty Scholarship

Few organizational acronyms are more familiar to Americans than those of the National Collegiate Athletic Association (NCAA) and the Internal Revenue Service (IRS). Although neither organization is particularly popular, both loom large in American life and popular culture. Because there is a tax aspect to just about everything, it should come as no surprise that the domains of the NCAA and the IRS overlap in a number of ways. For many decades, the strong tendency in those areas has been for college athletics to enjoy unreasonably generous tax treatment-sometimes because of the failure of the IRS to enforce the tax ...


Head In The Clouds, Head In The Sand: Federal Failure To Update Guidance On Computer Transaction In An International Context, Logan S. Weaver Dec 2018

Head In The Clouds, Head In The Sand: Federal Failure To Update Guidance On Computer Transaction In An International Context, Logan S. Weaver

Washington Law Review

The United States has two different rationales for taxing income of non-U.S. persons and entities. First, the income may be “sourced” to the United States, as defined in the Internal Revenue Code. Alternatively, the income may be effectively connected to a trade or business within the United States that provides income to the non-U.S. person or entity. The sourcing rules for income of non-U.S. persons and entities depend heavily on the nature of the underlying transaction and the geographical location where certain key elements of the transaction take place. So long as the non-U.S. person or ...


Tax Reform On Homeownership, Margaret Ryznar Oct 2018

Tax Reform On Homeownership, Margaret Ryznar

University of Miami Law Review

The 2017 tax reform, by curtailing the deductions for mortgage interest and state and local taxes, frustrates the American public policy of encouraging homeownership. Yet, there are many reasons that public policy has encouraged homeownership for decades. Most importantly, homeownership is an important savings tool for Americans—and tax reform should be mindful of it.


Law School News: Does Indictment Mean Correia Will Likely Be Forced To Resign? Law School Dean Says 'Wait A Week' 10/17/2018, Michael Holtzman, Roger Williams University School Of Law Oct 2018

Law School News: Does Indictment Mean Correia Will Likely Be Forced To Resign? Law School Dean Says 'Wait A Week' 10/17/2018, Michael Holtzman, Roger Williams University School Of Law

Life of the Law School (1993- )

No abstract provided.


Legislative Foundation Of The United States' New International Tax System, Joshua D. Harms Oct 2018

Legislative Foundation Of The United States' New International Tax System, Joshua D. Harms

Seattle University Law Review

This Note begins with commentary on the United States’ former worldwide system of taxation. This system taxed multinational corporations’ offshore profits at the applicable domestic income tax rate less credits for taxes paid to foreign governments. This tax regime provided for the deferral of income tax due on the profits of multinational corporations’ overseas operations until the time of repatriation. This Note considers the issues inherent in this system and analyzes the repatriation tax holiday under the American Jobs Creation Act of 2004. This holiday has been unanimously criticized by both sides of the political aisle and led to large ...


The Meaning Of Capital In The Twenty-First Century, Edward J. Mccaffery Sep 2018

The Meaning Of Capital In The Twenty-First Century, Edward J. Mccaffery

Edward J McCaffery

America is on a path towards a level of both wealth and income inequality unparalleled in recorded history. Thomas Piketty’s Capital in the Twenty-First Century summarizes and conveys the work of Piketty and many co-authors, over many decades, looking at the structure of income and wealth inequality across many nations and centuries. This review essay builds on Piketty’s ambitions as well as his data, in order to put forth a better solution: one that accepts and even embraces the facts of unequal ownership of capital, but changes the social meaning of those facts to avoid the social harms ...


The Death Of The Income Tax (Or, The Rise Of America's Universal Wage Tax), Edward J. Mccaffery Sep 2018

The Death Of The Income Tax (Or, The Rise Of America's Universal Wage Tax), Edward J. Mccaffery

Edward J McCaffery

In 1913, with whispers of progressive politics in the air, Americans ratified a Constitutional amendment allowing for a tax on “all incomes, from whatever source derived.”This set the stage for the individual income tax, a tax meant to fall on wealth and the wealthy. It was a small step, but it was a step. Capital and labor, wealth and wages, would each be paying the price of civilization. The corporate income and gift and estate taxes soon formed a troika of wealth taxes, though the individual income tax fell on upper-income wages as well.

Things changed. Over a century ...


Taxing Wealth Seriously, Edward J. Mccaffery Sep 2018

Taxing Wealth Seriously, Edward J. Mccaffery

Edward J McCaffery

The social and political problems of wealth inequality in America are severe and getting worse. A surprise is that the U.S. tax system, as is, is a significant cause of these problems, not a cure for them. The tax-law doctrines that allow those who already have financial wealth to live, luxuriously and tax-free, or to pass on their wealth tax-free to heirs, are simple. The applicable legal doctrines have been in place for nearly a century under the income tax, the primary social tool for addressing matters of economic inequality. The analytic pathways to reform are easy to see ...


Beps, Atap, And The New Tax Dialogue: "A Transatlantic Competition?", Reuven Avi-Yonah, Gianluca Mazzoni Sep 2018

Beps, Atap, And The New Tax Dialogue: "A Transatlantic Competition?", Reuven Avi-Yonah, Gianluca Mazzoni

Articles

Since its launch in 2013, the US actively participated in all aspects of the BEPS project. However, until recently, the general view was that following the conclusion of the BEPS negotiations and the change of Administration the US is stepping back from the BEPS process. While the EU was charging ahead with implementing BEPS through the Anti-Tax Avoidance Directive (ATAD), the US stated that it was already in compliance with all BEPS minimum standards and therefore other than Country-by-Country Reporting (CbCR) it had no further BEPS obligations. The US decided not to sign the Multilateral Instrument (MLI) to implement BEPS ...


De Novo: Reviewing Tax Court Redressability Incongruities In Innocent Spouse Relief Sections 66© And 6015(F), Jason Harn Sep 2018

De Novo: Reviewing Tax Court Redressability Incongruities In Innocent Spouse Relief Sections 66© And 6015(F), Jason Harn

Seattle University Law Review

Part One of this Note details the historical background of joint and several liability in federal income taxation. Part Two introduces, compares, and contrasts the two statutory provisions Congress has enacted to relieve “innocent spouses” from joint and several liability. Part Three discusses the incongruent standards of review applied by the Tax Court to these—§§ 66 and 6015—two substantially similar relief provisions. Finally, Part Four suggests remedies to alleviate this incongruity.


The Death Of The Income Tax (Or, The Rise Of America's Universal Wage Tax), Edward J. Mccaffery Aug 2018

The Death Of The Income Tax (Or, The Rise Of America's Universal Wage Tax), Edward J. Mccaffery

University of Southern California Legal Studies Working Paper Series

In 1913, with whispers of progressive politics in the air, Americans ratified a Constitutional amendment allowing for a tax on “all incomes, from whatever source derived.”This set the stage for the individual income tax, a tax meant to fall on wealth and the wealthy. It was a small step, but it was a step. Capital and labor, wealth and wages, would each be paying the price of civilization. The corporate income and gift and estate taxes soon formed a troika of wealth taxes, though the individual income tax fell on upper-income wages as well.

Things changed. Over a century ...


The Contemporary Tax Journal Volume 7, No. 2 – Summer 2018 Aug 2018

The Contemporary Tax Journal Volume 7, No. 2 – Summer 2018

The Contemporary Tax Journal

No abstract provided.


Front Matter (Letter From The Editor, Masthead, Etc.) Aug 2018

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

The Contemporary Tax Journal

No abstract provided.


Analysis Of The Head Of Household Filing Status, Chau Le Aug 2018

Analysis Of The Head Of Household Filing Status, Chau Le

The Contemporary Tax Journal

No abstract provided.


Summaries For The 33rd Annual Tei-Sjsu High Tech Tax Institute, Silin Chen, June Hostetter, Sahdia Saiara, Jessica Wong, Cherry Zheng Aug 2018

Summaries For The 33rd Annual Tei-Sjsu High Tech Tax Institute, Silin Chen, June Hostetter, Sahdia Saiara, Jessica Wong, Cherry Zheng

The Contemporary Tax Journal

No abstract provided.


The Contemporary Tax Journal's Interview With Mr. Eric Ryan, Sara (Yaqin) Sun Aug 2018

The Contemporary Tax Journal's Interview With Mr. Eric Ryan, Sara (Yaqin) Sun

The Contemporary Tax Journal

No abstract provided.


The Beat And Treaty Overrides: A Brief Response To Rosenbloom And Shaheen, Reuven S. Avi-Yonah, Brett Wells Aug 2018

The Beat And Treaty Overrides: A Brief Response To Rosenbloom And Shaheen, Reuven S. Avi-Yonah, Brett Wells

Law & Economics Working Papers

In a recent paper posted on SSRN, Profs. David Rosenbloom and Fadi Shaheen argue that the Base Erosion Anti-Abuse Tax (BEAT) (IRC section 59A), as enacted in 2017, is a potential violation of Articles 23 and 24 of US tax treaties. In addition, they argue that the BEAT does not override those treaties and therefore the treaties can be relied upon to overcome the effects of the BEAT. In our opinion, this conclusion is wrong, for two reasons. First, we believe that the BEAT is not a treaty violation. Second, we believe that even if the BEAT were found to ...


The Tao Of The Dao: Taxing An Entity That Lives On A Blockchain, David J. Shakow Aug 2018

The Tao Of The Dao: Taxing An Entity That Lives On A Blockchain, David J. Shakow

Faculty Scholarship at Penn Law

In this report, Shakow explains how a decentralized autonomous organization functions and interacts with the U.S. tax system and presents the many tax issues that these structures raise. The possibility of using smart contracts to allow an entity to operate totally autonomously on a blockchain platform seems attractive. However, little thought has been given to how such an entity can comply with the requirements of a tax system. The DAO, the first major attempt to create such an organization, failed because of a programming error. If successful examples proliferate in the future, tax authorities will face significant problems in ...


Marginal Rates Under The Tcja, Reed Shuldiner Jun 2018

Marginal Rates Under The Tcja, Reed Shuldiner

Faculty Scholarship at Penn Law

In this report, Shuldiner argues that although the Tax Cuts and Jobs Act appears to offer an across-the board reduction in individual marginal tax rates augmented by an additional 20 percent reduction in rates on unincorporated business income, the situation is significantly more complex.


Higher Education Savings And Planning: Tax And Nontax Considerations, F. Philip Manns Jr., Timothy M. Todd May 2018

Higher Education Savings And Planning: Tax And Nontax Considerations, F. Philip Manns Jr., Timothy M. Todd

Texas A&M Law Review

Funding higher education is among the critical financial decisions made by individuals and families. There are myriad options. Yet, the conventional wisdom—namely using Section 529 Plans—may not be the optimal vehicle to effectuate this goal. Therefore, this Article discusses various strategies to plan, save, and pay for higher education. It compares various savings methods including gifts, UTMA accounts, Section 529 Plans, trusts, and other vehicles. The analysis explores both tax and non-tax considerations, including the effect of different strategies on financial aid, transaction costs, investor control, income taxes, gift and estate taxes, flexibility, and creditor protection. This Article ...


Was The Amt Effectively Repealed?, Reed Shuldiner Apr 2018

Was The Amt Effectively Repealed?, Reed Shuldiner

Faculty Scholarship at Penn Law

The individual alternative minimum tax (AMT) was a much disliked feature of the tax law prior to the Tax Cuts and Jobs Act (TCJA). Yet, despite repeated promises to repeal the AMT as part of tax reform, the TCJA dropped AMT repeal in favor of increasing the AMT exemption and its phaseout threshold. The question raised by this development is whether the AMT changes should be viewed as yet another stop-gap tweak of the AMT or whether the changes should be viewed as returning the AMT to its roots as a tax on high-income taxpayers using excessive loopholes. In this ...


Does The United States Still Care About Complying With Its Wto Obligations?, Reuven S. Avi-Yonah Apr 2018

Does The United States Still Care About Complying With Its Wto Obligations?, Reuven S. Avi-Yonah

Articles

The Tax Cuts and Jobs Act of 2017 (“TCJA”) contains a provision that on its face appears to be a blatant violation of the WTO’s Subsidies and Countervailing Measures (SCM) rules. New IRC section 250 applies a reduced 13.125% tax rate to “foreign derived intangible income” (FDII), which is defined as income derived in connection with (1) property that is sold by the taxpayer to any foreign person for a foreign use or (2) services to any foreign person or with respect to foreign property. In other words, this category comprises exports for property and services, including royalties ...


Accessible Reliable Tax Advice, Emily Cauble Apr 2018

Accessible Reliable Tax Advice, Emily Cauble

University of Michigan Journal of Law Reform

Unsophisticated taxpayers who lack financial resources are disadvantaged by a shortage of adequate tax advice. The IRS does not have the resources to answer all questions asked, and the IRS’s informal advice comes with no guarantee as to its accuracy and offers the taxpayer no protection when it is mistaken. Furthermore, non-IRS sources of advice have not sufficiently filled the void left by a lack of satisfactory IRS guidance. These biases against unsophisticated taxpayers have been noted by existing literature. This Article contributes to existing literature by proposing several novel reform measures to assist unsophisticated taxpayers.

First, with respect ...


The Upsides And Downsides Of Ending Chevron Deference, Steve R. Johnson, Kristin E. Hickman, Joseph B. Judkins, Donald B. Susswein Mar 2018

The Upsides And Downsides Of Ending Chevron Deference, Steve R. Johnson, Kristin E. Hickman, Joseph B. Judkins, Donald B. Susswein

Scholarly Publications

No abstract provided.


How Special Is The Special Timing Rule? Analyzing The Timing Of Fica Taxation In Nonqualified Deferred Compensation Plans, Alan J. Ponce Feb 2018

How Special Is The Special Timing Rule? Analyzing The Timing Of Fica Taxation In Nonqualified Deferred Compensation Plans, Alan J. Ponce

Georgia State University Law Review

Many employers offer nonqualified deferred compensation plans as a benefit to select employees, and those plans allow the employees to prepare for retirement in a tax-efficient manner. For employers,designing and administering such plans in compliance with federal law represents a paramount concern in order to achieve the tax advantages such plans entail. However, for these employers, there remains an inherent ambiguity in the tax code regarding how and when employers should withhold Federal Insurance Contribution Act (FICA) taxes—that is, Social Security and Medicare taxes—on deferred compensation in nonqualified retirement plans.

Tax regulations provide two distinct methods for ...


Tax Compliance In A Decentralizing Economy, Manoj Viswanathan Feb 2018

Tax Compliance In A Decentralizing Economy, Manoj Viswanathan

Georgia State University Law Review

Tax compliance in the United States has long relied on information from centralized intermediaries—the financial institutions,employers, and brokers that help ensure income is reported and taxes are paid. Yet while the IRS remains tied to these centralized entities,consumers and businesses are not. New technologies, such as sharing economy platforms (companies such as Airbnb, Uber, and Instacart)and the blockchain (the platform on which various cryptocurrencies are based) are providing new, decentralized options for exchanging goods and services.

Without legislative and agency intervention, these technologies pose a critical threat to the reporting system underlying domestic and international tax ...


Potential Penalties And Ethical Problems In Filing An Amended Return: The Case Of The Repentant Sports/Entertainment Figure's Legal Expenses Deduction, John R. Dorocak Feb 2018

Potential Penalties And Ethical Problems In Filing An Amended Return: The Case Of The Repentant Sports/Entertainment Figure's Legal Expenses Deduction, John R. Dorocak

Maine Law Review

A prominent sports/entertainment figure walks into your office (all preparers should be so lucky). He is in a repentant mood--not because he escaped conviction for the murder of his former wife and her friend, but because he deducted his legal expenses in defending against the criminal prosecution and the civil wrongful death suit. This Article discusses the obligation of the taxpayer, even one as nefarious as the athlete posited, and the practitioner to file an amended return. As one pair of commentators has stated, “How should the amendment be made, and what are the possible consequences of amending a ...


What's A Government Good For? Fiscal Policy In An Age Of Inequalituy, Edward D. Kleinbard Feb 2018

What's A Government Good For? Fiscal Policy In An Age Of Inequalituy, Edward D. Kleinbard

University of Southern California Legal Studies Working Paper Series

The debate surrounding the Tax Cuts and Jobs Act demonstrated the intellectual bankruptcy of U.S. fiscal policy debate. The TCJA has serious flaws as a matter of narrow tax policy, but it is more fundamentally flawed when viewed through the proper policy lens, which is overall fiscal policy – the net of government taxing and spending. The TCJA greatly exacerbates already untenable budget deficits. Its tax prescriptions are even more regressive when the spending cuts contemplated by the legislation itself are reflected. And the law’s regressivity is compounded further when plausible financing paths for these large deficits are included ...


Cybersecurity And Tax Information: A Vicious Cycle?, Diane Ring Feb 2018

Cybersecurity And Tax Information: A Vicious Cycle?, Diane Ring

Diane M. Ring

A review of Michael Hatfield, Cybersecurity and Tax Reform, 93 Ind. L.J., scheduled to be published in Spring 2018.


The Contemporary Tax Journal Volume 7, No. 1 - Winter 2018 Feb 2018

The Contemporary Tax Journal Volume 7, No. 1 - Winter 2018

The Contemporary Tax Journal

No abstract provided.