Taxation-Federal Commons^™

Ending The Irs As We Know It: Thoughts From Outside The Beltway, J. Clifton Fleming Jr.

Faculty Scholarship

No abstract provided.

'Complete' Accrual Taxation, Fred B. Brown

All Faculty Scholarship

Under the realization rule, accrued gains and losses generally are not taken into account for income tax purposes until a disposition occurs. Thus, the realization rule is responsible for tax deferral, which in turn likely leads to economic inefficiencies and inequities. The realization rule also contributes greatly to the complexity of the federal income tax system by necessitating numerous Internal Revenue Code provisions that address the many consequences arising from the decision to postpone taxation until a disposition occurs.

An alternative to the realization rule is accrual taxation - the inclusion in the tax base of annual increases and decreases …

Toward A Tax-Based Explanation Of The Liability Insurance Crisis, Kyle D. Logue

Articles

The so-called liability insurance crisis of 1985 and 1986 transformed the way we think about tort law and about liability insurance markets. The crisis phenomena, which first appeared in late 1984 and lasted until mid-1986, consisted of enormous increases in liability insurance premiums and alarming reductions in the availability of certain types of liability coverage. In the two principal liability lines of insurance (Other Liability and Medical Malpractice), premiums increased by hundreds (in some cases thousands) of percentage points in a matter of months. At the same time, the availability of liability insurance contracted sharply. The liability policies that were …

Irs Overhauls Spin-Off Ruling Guidelines, Stuart M. Finkelstein, Stuart G. Lazar

Other Scholarship

No abstract provided.

An Analysis Of The Disallowance Of Advertising Expenses For Tobacco Products, Ravi Mannam

LLM Theses and Essays

Generally, reasonable expenses incurred in the ordinary and necessary course of a legitimate trade or business are deductible from gross income under the U.S. Tax Code; however in an effort to curb tobacco use, recent legislation has disallowed this benefit to tobacco companies for advertising expenses. The judiciary has upheld this disallowance under the doctrine of legislative grace. This thesis critiques the doctrine of legislative grace along with a review Congress’s power to tax income and the role of deductions. Also, the possibility of disallowing business expenses under public policy grounds is examined, and the relationship between lobbying expenses and …

The Plethora Of Consumption Tax Proposals: Putting The Value Added Tax, Flat Tax, Retail Sales Tax, And Usa Tax Into Perspective, Alan Schenk

Law Faculty Research Publications

No abstract provided.

The American Dream In Legislation: The Role Of Popular Symbols In Wealth Tax Policy, William S. Blatt

Articles

No abstract provided.

Tax Transitions, Opportunistic Retroactivity, And The Benefits Of Government Precommitment, Kyle D. Logue

Articles

What if the current federal income tax laws were repealed and replaced with a simple flat tax? What if the entire Internal Revenue Code (with its graduated rates and countless deductions, exclusions, and credits) were scuttled in favor of a broad-based consumption tax? Only a few years ago, such proposals would have seemed radical and extremely unlikely to be adopted. But times are changing. Calls for a drastic overhaul of the Internal Revenue Code have become commonplace, even at the highest levels in the tax-policy community. In addition, proposals that would replace the income tax with a flat-rate broad-based consumption …

Reflections On Executive Compensation And A Modest Proposal For (Further) Reform, Mark J. Loewenstein

Publications

No abstract provided.

Tax Deduction Of Hazardous Waste Cleanup Costs: Harmonizing Federal Tax And Environmental Policies, Jeffrey M. Gaba

Faculty Journal Articles and Book Chapters

The issue of the deductibility of environmental cleanup costs involves the complex and painful intersection of tax and environmental law. The basic issue is whether environmental remediation costs may be immediately deducted as ordinary and necessary expenses or whether they must they be capitalized as improvements to land. A recent revenue ruling by the IRS, Rev. Rul. 94-38, addresses a relatively simple situation but basically leaves the most difficult issues unresolved.

This article discusses whether cleanup expenses may be immediately deducted when the payments were made by the current landowner and 1) the contamination was caused and cleaned up by …