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Articles 1 - 30 of 1999

Full-Text Articles in Taxation-Federal

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 ...


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.


Why Section 179(B)(3)(A)'S Business Income Limitation Does Not Apply To Partnerships And S Corporations, David Randall Jenkins Ph.D. Feb 2018

Why Section 179(B)(3)(A)'S Business Income Limitation Does Not Apply To Partnerships And S Corporations, David Randall Jenkins Ph.D.

The Contemporary Tax Journal

No abstract provided.


Summaries For The 2017 Irs-Sjsu Small Business Tax Institute, Ruchi Chopra Cpa, Mba, Ophelia Ding, Surbhi Doshi, Nilesh Lad Cpa, Sara Yaqin Sun Feb 2018

Summaries For The 2017 Irs-Sjsu Small Business Tax Institute, Ruchi Chopra Cpa, Mba, Ophelia Ding, Surbhi Doshi, Nilesh Lad Cpa, Sara Yaqin Sun

The Contemporary Tax Journal

No abstract provided.


Analysis Of S.1352 - 115th Congress (2017-2018) Apprenticeship And Jobs Training Act Of 2017, Veena Hemachandran, Katrina Jodrey, George (Peixuan) Liu, Leigh Ann Moore Feb 2018

Analysis Of S.1352 - 115th Congress (2017-2018) Apprenticeship And Jobs Training Act Of 2017, Veena Hemachandran, Katrina Jodrey, George (Peixuan) Liu, Leigh Ann Moore

The Contemporary Tax Journal

No abstract provided.


Analysis Of H.R.2802 - 115th Congress (2017-2018) First-Time Homebuyer Savings Account Act Of 2017, Shimiao Gong, Xiaotong Stella Li, Ling Wei, Pingrong Xue Feb 2018

Analysis Of H.R.2802 - 115th Congress (2017-2018) First-Time Homebuyer Savings Account Act Of 2017, Shimiao Gong, Xiaotong Stella Li, Ling Wei, Pingrong Xue

The Contemporary Tax Journal

No abstract provided.


Latent Semantic Analysis: A Big Data Opportunity For Tax Research, Paul D. Hutchison Ph.D., C. Elizabeth Plummer Ph.D., Cpa, Benjamin George Ph.D. Feb 2018

Latent Semantic Analysis: A Big Data Opportunity For Tax Research, Paul D. Hutchison Ph.D., C. Elizabeth Plummer Ph.D., Cpa, Benjamin George Ph.D.

The Contemporary Tax Journal

No abstract provided.


The Contemporary Tax Journal's Interview With Mr. Jim Fuller, Ophelia Ding Feb 2018

The Contemporary Tax Journal's Interview With Mr. Jim Fuller, Ophelia Ding

The Contemporary Tax Journal

No abstract provided.


Who Truly Benefits From The Mortgage Interest Deduction?, Stephen Wildt Mba Feb 2018

Who Truly Benefits From The Mortgage Interest Deduction?, Stephen Wildt Mba

The Contemporary Tax Journal

No abstract provided.


R&D Credit Against Payroll Tax Liabilities - The Payroll Tax Credit, Sarah Yaqin Sun Feb 2018

R&D Credit Against Payroll Tax Liabilities - The Payroll Tax Credit, Sarah Yaqin Sun

The Contemporary Tax Journal

No abstract provided.


Analysis Of H.R.2551 - 115th Congress (2017-2018) - Student Loan Debt Relief Act, Soon-Young Apple, Debanjana Banerjee, Nilesh Lad, Anna Li Feb 2018

Analysis Of H.R.2551 - 115th Congress (2017-2018) - Student Loan Debt Relief Act, Soon-Young Apple, Debanjana Banerjee, Nilesh Lad, Anna Li

The Contemporary Tax Journal

No abstract provided.


Tax Treatment Of High-Tech Start-Up Costs, June (Yun) Hostetter Cpa Feb 2018

Tax Treatment Of High-Tech Start-Up Costs, June (Yun) Hostetter Cpa

The Contemporary Tax Journal

No abstract provided.


Perversion Of The Tax Policymaking Process, Edward D. Kleinbard Jan 2018

Perversion Of The Tax Policymaking Process, Edward D. Kleinbard

University of Southern California Legal Studies Working Paper Series

The Tax Cuts and Jobs Act can be criticized on many substantive grounds, and for its effect on deficits. But the legislative process also revealed important shortcomings beyond its haste. Traditional tax policy metrics – conventional revenue estimates, dynamic estimates and distributional analyses – yield misleading results in a tax framework that loses over one trillion dollars. The result is that the legislation has even more deleterious welfare implications than these standard metrics suggest.


Dual Residents: A Sur-Reply To Zelinsky, Michael S. Knoll, Ruth Mason Jan 2018

Dual Residents: A Sur-Reply To Zelinsky, Michael S. Knoll, Ruth Mason

Faculty Scholarship

In this article, we respond to Professor Zelinsky’s criticism of our arguments regarding the constitutionality of New York’s tax residence rule. We argue that the Supreme Court’s decision in Wynne requires reconsideration of the New York Court of Appeal’s decision in Tamagni.


Cracking Shells: The Panama Papers & Looking To The European Union's Anti-Money Laundering Directive As A Framework For Implementing A Multilateral Agreement To Combat The Harmful Effects Of Shell Companies, Nicholas Vail Jan 2018

Cracking Shells: The Panama Papers & Looking To The European Union's Anti-Money Laundering Directive As A Framework For Implementing A Multilateral Agreement To Combat The Harmful Effects Of Shell Companies, Nicholas Vail

Texas A&M Law Review

In early 2016, the International Consortium of Investigative Journalists released a report detailing thousands of leaked documents demonstrating how a Panamanian law firm had, for years, helped wealthy clients conceal their financial activities through the use of offshore shell companies. The Panama Papers, as the leaked documents came to be known, directed renewed attention at the use of shell companies. Shell companies are used by the world’s wealthy and powerful to lower their taxes, but are also used by tax evaders, criminal organizations, and terrorists. While much of the renewed attention has been directed at offshore tax havens such ...


On The Disparate Treatment Of Business And Personal Salt Payments, Michael S. Knoll Jan 2018

On The Disparate Treatment Of Business And Personal Salt Payments, Michael S. Knoll

Faculty Scholarship

The Tax Cuts and Jobs Act, H.R. 1, would eliminate the federal income tax deduction for nonbusiness state and local taxes while maintaining the deduction for business state and local taxes. That disparate treatment has generated a storm of negative commentary. In this short essay, I consider whether the federal tax law should allow a deduction for business state and local taxes assuming that there is no deduction for nonbusiness state and local taxes. I argue that investors and businesses, including pass-through businesses, should be allowed to deduct state and local property and sales taxes, but not general income ...


Graduate Education And The Taxation Of Tuition Reductions, Erik M. Jensen Jan 2018

Graduate Education And The Taxation Of Tuition Reductions, Erik M. Jensen

Faculty Publications

While the legislation popularly (or unpopularly) known as the Tax Cuts and Jobs Act of 2017 was working its way through Congress, many colleges and universities were afraid that the repeal of Internal Revenue Code section 117(d), as provided in the House version of the bill, would have catastrophic effects on American graduate education. The concern was that, after repeal, graduate teaching and research assistants would be taxed on their tuition reductions, and the measure of the income would be determined using the stated tuition figure—the sticker price—for the academic institution. Section 117(d) survived, but it ...


Improving Tax Rules By Means-Testing: Bridging Wealth Inequality And “Ability To Pay”, James M. Puckett Jan 2018

Improving Tax Rules By Means-Testing: Bridging Wealth Inequality And “Ability To Pay”, James M. Puckett

Oklahoma Law Review

No abstract provided.


Taxation Of Gamblers: The House Always Wins, Christine Manolakas Jan 2018

Taxation Of Gamblers: The House Always Wins, Christine Manolakas

Oklahoma Law Review

No abstract provided.


Cybersecurity And Tax Information: A Vicious Cycle?, Diane Ring Dec 2017

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

Boston College Law School Faculty Papers

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


Protective Claims For Refund: Protecting The Interests Of Taxpayers And The Irs, Kristy M. Bowden Dec 2017

Protective Claims For Refund: Protecting The Interests Of Taxpayers And The Irs, Kristy M. Bowden

Maine Law Review

The Internal Revenue Code provides taxpayers wishing to claim a refund of an overpayment of taxes with a simple, straightforward provision setting forth a taxpayer's right to make such a claim. Additionally, regulations exist that provide for the procedure to be followed in order to claim a refund, further clarifying what is expected of the taxpayer. Unfortunately, not all situations that give rise to the right to claim a refund are so straightforward and simple. Taxpayers may find themselves in a situation that seems to have very little direct connection with tax, but may nonetheless result in significant tax ...


26 Usc Section 280e: Will The Dragon Now Be Slayed?, Bill Greenberg, Rebecca Greenberg Dec 2017

26 Usc Section 280e: Will The Dragon Now Be Slayed?, Bill Greenberg, Rebecca Greenberg

Journal of Law and Policy

26 USC § 280E of the Internal Revenue Code (“§ 280E”) prohibits the deduction of ordinary business expenses for businesses deemed by the federal government to be drug traffickers as defined by the Controlled Substances Act (“CSA”). The tax enactment is specifically designed to serve as a disincentive to socalled drug traffickers who might otherwise deduct “ordinary and necessary business expenses” from their taxes. However, this harms legitimate cannabis businesses by promoting unintended consequences, such as under-reported income. For three decades, there has been a patent incongruity between § 280E’s congressional purpose and the expansion of state-legalized cannabis businesses in the United ...


Corporate Tax Avoidance And Honoring The Fiduciary Duties Owed To The Corporation And Its Stockholders, Eric C. Chaffee, Karie Davis-Nozemack Nov 2017

Corporate Tax Avoidance And Honoring The Fiduciary Duties Owed To The Corporation And Its Stockholders, Eric C. Chaffee, Karie Davis-Nozemack

Boston College Law Review

Corporate tax avoidance is a pressing issue of both national and international concern. Corporations usually claim that they are legally required to engage in aggressive tax strategies. But this Article proves that claim is incorrect when based upon the fiduciary duties owed to the corporation and its stockholders. Directors and other corporate managers often look to the classic case of Dodge v. Ford, which is ubiquitous in corporate law from the boardroom to the courtroom, as a North Star that guides them toward and defines their fiduciary duties to the corporation and its stockholders. In Dodge, the court held, “A ...


A Progressive Case For A Universal Transaction Tax, Gary Chartier Nov 2017

A Progressive Case For A Universal Transaction Tax, Gary Chartier

Maine Law Review

Federal Reserve Board chair Alan Greenspan’s recent call for tax simplification and his acknowledgement of arguments for a consumption tax may help to place the question of such taxes, including a value-added tax (VAT), on the national political agenda. If the possibility of imposing a VAT does receive significant national attention, the debate it occasions will obviously, and appropriately, focus in part on a variety of technical questions. But normative questions will likely be at issue as well. A VAT is like a sales tax, but is applied at each stage in a product’s development and not merely ...


Federal Tax Code Restrictions On Church Political Activity, Deirdre Dessingue Halloran, Kevin M. Kearney Oct 2017

Federal Tax Code Restrictions On Church Political Activity, Deirdre Dessingue Halloran, Kevin M. Kearney

The Catholic Lawyer

No abstract provided.