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Full-Text Articles in Taxation-Federal
Resolving Unfairness In A Fair Way: How The Grantor Trust Rules Should Be Reformed, Aaron T. Anderson
Resolving Unfairness In A Fair Way: How The Grantor Trust Rules Should Be Reformed, Aaron T. Anderson
BYU Law Review
Affluent taxpayers often create one or more grantor trusts to achieve significant tax savings. By leveraging mismatches in the rules between the income and estate tax systems, these taxpayers avoid the compressed income tax brackets of trusts while minimizing the property that is included in their estates for estate tax purposes. Some commentators have argued that reform is needed to remove such mismatches. Yet, trusts that rely on the current grantor trust rules abound.
This Note (1) provides a background and history of the rules and use of grantor trusts, (2) argues that harmonizing the estate and income tax systems …
Wealth Transfer Tax Planning After The Tax Cuts And Jobs Act, John A. Miller, Jeffrey A. Maine
Wealth Transfer Tax Planning After The Tax Cuts And Jobs Act, John A. Miller, Jeffrey A. Maine
BYU Law Review
On December 17, 2017, Congress passed the Tax Cuts and Jobs Act (TCJA). Among its many impacts, the TCJA increased the inflation-adjusted estate tax basic exclusion amount to $10,000,000 on a temporary basis. This has dramatic implications for many existing and future estate plans, including a major crossover impact on income tax planning. In this Article, we explain the operation of the federal wealth transfer taxes (the estate tax, the gift tax, and the generation skipping transfer tax) in the wake of the TCJA and dissect the basic tax planning techniques for wealth transmission. The overall design of this Article …
Taxing Parents: Welfarist Theories, Shannon Weeks Mccormack
Taxing Parents: Welfarist Theories, Shannon Weeks Mccormack
BYU Law Review
The Internal Revenue Code (the "Code") taxes parents inequitably. Couples with a sole earner are undertaxed compared to couples with dual earners and to single parents. Legal tax scholarship (including my own) has identified the many inequities that result from this sole-earner bias and have called for its elimination. But while these arguments have been sufficient for some, they do remain susceptible to the criticism that they are theoretically incomplete.
That critique might proceed as follows. Simply establishing that an inequity exists does not create a full argument for legal reform. After all, it might be argued, the Code plays …
Information Matters In Tax Enforcement, Leandra Lederman, Joseph C. Dugan
Information Matters In Tax Enforcement, Leandra Lederman, Joseph C. Dugan
BYU Law Review
Most scholars recognize both that the government needs information about taxpayers’ transactions to determine whether their reporting is honest, and that third third-party reporting helps the government obtain that information. Given governments’ reliance on tax collections, it would be risky to think that information or third third-party reporting is not needed by tax agencies. However, a recent article by Professor Wei Cui asserts that “modern governments can practice ‘taxation without information.’” Professor Cui’s argument rests on two claims: (1) “giving governments effective access to taxpayer information through third parties does not explain the success of modern tax administration” because, he …
Mormon Profit: Brigham Young, Tithing, And The Bureau Of Internal Revenue, Samuel D. Brunson
Mormon Profit: Brigham Young, Tithing, And The Bureau Of Internal Revenue, Samuel D. Brunson
BYU Law Review
No abstract provided.
Per Se Economic Substance, Jesse P. Houchens
Per Se Economic Substance, Jesse P. Houchens
BYU Law Review
The economic substance doctrine is used by the IRS and courts to distinguish legal tax avoidance from tax evasion. More specifically, executive and judicial bodies use this doctrine to revoke statutorily compliant tax benefits that arise from transactions that lack, beyond such tax benefits, both a subjective business purpose and an objective economic effect. The most common tool for measuring the objective economic effect of a transaction is the pre-tax profit test. However, disagreement among courts and scholars applying this test has led to taxpayer uncertainty and accusations of reverse-engineered opinions. In this Comment, I reevaluate and propose an alternative, …
Finishing The Job On Section 356(A)(2): Closing Loopholes And Providing Consistent Treatment To Boot In Tax-Free Reorganizations, Trevor Crowley
Finishing The Job On Section 356(A)(2): Closing Loopholes And Providing Consistent Treatment To Boot In Tax-Free Reorganizations, Trevor Crowley
BYU Law Review
No abstract provided.
Unfair And Unintended: The Tax-Exempt Organization Blocker Loophole, Andrew M. Dougherty
Unfair And Unintended: The Tax-Exempt Organization Blocker Loophole, Andrew M. Dougherty
BYU Law Review
No abstract provided.
Wealth Transfer Tax Planning For 2013 And Beyond, John A. Miller, Jeffrey A. Maine
Wealth Transfer Tax Planning For 2013 And Beyond, John A. Miller, Jeffrey A. Maine
BYU Law Review
On January 1, 2013, Congress avoided the tax part of the so-called “fiscal cliff” when it passed the American Taxpayer Relief Act of 2012 (ATRA). Among its many impacts, ATRA prevented the application of a number of sunset provisions that would have dramatically altered the operation of the federal wealth transfer taxes. Instead, Congress made permanent two significant transfer tax provisions introduced as temporary measures in 2010: the $5,000,000 indexed basic exclusion amount and the deceased spousal unused exclusion amount. The latter provisions are sometimes referred to as the portability rules because, in effect, they allow one spouse’s estate tax …
Surrogate Taxation And The Second-Best Answer To The In-Kind Benefit Valuation Riddle, Jay A. Soled
Surrogate Taxation And The Second-Best Answer To The In-Kind Benefit Valuation Riddle, Jay A. Soled
BYU Law Review
For well over a century, theorists have debated how the receipt of inkind benefits, such as meals and lodging furnished for the convenience of an employer and business entertainment opportunities, should be taxed. While debate participants have generally agreed that the receipt of such in-kind benefits constitutes income, the question has remained about whether to value such benefits at fair market value or at the recipient’s subjective value or to use some other metric. Because of administrative considerations in determining the tax base, the Internal Revenue Code (Code) historically used a binary approach: either include the in-kind benefit at its …
Tax Protestors And Penalties: Ensuring Perceived Fairness And Mitigating Systemic Costs, Danshera Cords
Tax Protestors And Penalties: Ensuring Perceived Fairness And Mitigating Systemic Costs, Danshera Cords
BYU Law Review
No abstract provided.
Substantially Deferring To Revenue Rulings After Mead, Ryan C. Morris
Substantially Deferring To Revenue Rulings After Mead, Ryan C. Morris
BYU Law Review
No abstract provided.
A Good Old Habit, Or Just An Old One? Preferential Tax Treatment For Reorganizations, Yariv Brauner
A Good Old Habit, Or Just An Old One? Preferential Tax Treatment For Reorganizations, Yariv Brauner
BYU Law Review
No abstract provided.
Preslar V. Commissioner: Debt-Discharge Income And Its Rationale, Chad J. Pomeroy
Preslar V. Commissioner: Debt-Discharge Income And Its Rationale, Chad J. Pomeroy
BYU Law Review
No abstract provided.
Section L04(A)(2) After Commissioner U. Schleier: Litigating The Excludability Of Statutory Damages "Received On Account Of Personal Injuries", T. James Lee Jr.
Section L04(A)(2) After Commissioner U. Schleier: Litigating The Excludability Of Statutory Damages "Received On Account Of Personal Injuries", T. James Lee Jr.
BYU Law Review
No abstract provided.
Stock Redemptions And The Family-Owned Corporation: Tax Traps Oll The Path To Capital Gain Treatment, Scott E. Copple
Stock Redemptions And The Family-Owned Corporation: Tax Traps Oll The Path To Capital Gain Treatment, Scott E. Copple
BYU Law Review
No abstract provided.
Taxes, Morals, And Legitimacy, Leo P. Martinez
Determining An Individual's Federal Income Tax Liability When The Tax Benefit Rule Applies: A Fifty-Year Checkup Brings A New Prescription For Calculating Gross, Adjusted Gross, And Taxable Incomes, Matthew J. Barrett
BYU Law Review
No abstract provided.
The Ethics Reform Act Of 1989: Why The Taxman Can't Be A Paperback Writer, David A. Golden
The Ethics Reform Act Of 1989: Why The Taxman Can't Be A Paperback Writer, David A. Golden
BYU Law Review
No abstract provided.
Jurisdiction Over Civil Tax Cases, Larry Kramer
Abortion Politics: The Roman Catholic Church's Tax-Exempt Status In Jeopardy Under Section 501(C)(3) Of The Internal Revenue Code, Junji John Shimazaki
Abortion Politics: The Roman Catholic Church's Tax-Exempt Status In Jeopardy Under Section 501(C)(3) Of The Internal Revenue Code, Junji John Shimazaki
BYU Law Review
No abstract provided.
Is It Really Reform? A Theoretical Overview Of The 1986 Tax Reform Act, Daniel L. Simmons
Is It Really Reform? A Theoretical Overview Of The 1986 Tax Reform Act, Daniel L. Simmons
BYU Law Review
No abstract provided.
Overturning Bellas Hess: Due Process Considerations, Sandra B. Mccray
Overturning Bellas Hess: Due Process Considerations, Sandra B. Mccray
BYU Law Review
No abstract provided.
Internal Revenue Code Section 414(N): Congressional Authorization To Discriminate Among Retirement Plan Participants, David A. Channer
Internal Revenue Code Section 414(N): Congressional Authorization To Discriminate Among Retirement Plan Participants, David A. Channer
BYU Law Review
No abstract provided.
Rca Corp. V. United States: The Latest Round In The Controversy Over Actrual Accounting For Prepaid Income, R. Glen Woods
Rca Corp. V. United States: The Latest Round In The Controversy Over Actrual Accounting For Prepaid Income, R. Glen Woods
BYU Law Review
No abstract provided.
Lobbying Restriction On Section 501(C)(3) Organizations Held Unconstitutional: First Amendment Implications Of Taxation With Representation Of Washington V. Regan, Karen B. Crockett
Lobbying Restriction On Section 501(C)(3) Organizations Held Unconstitutional: First Amendment Implications Of Taxation With Representation Of Washington V. Regan, Karen B. Crockett
BYU Law Review
No abstract provided.
An Inequitable Jury Instruction On The Taxability Of Personal Injury Damage Awards: Blanchfield V. Dennis, Thomas D. Boyle
An Inequitable Jury Instruction On The Taxability Of Personal Injury Damage Awards: Blanchfield V. Dennis, Thomas D. Boyle
BYU Law Review
No abstract provided.
The Continuing Controversy Over Crane's Footnote 37: Tufts V. Commissioner, S. Robert Bradley
The Continuing Controversy Over Crane's Footnote 37: Tufts V. Commissioner, S. Robert Bradley
BYU Law Review
No abstract provided.
Revocation Of Tax-Exempt Status Of Religious Schools-Conflict With The Religion Clauses Of The First Amendment: Bob Jones University V. United States, R. Clyde Parker Jr.
Revocation Of Tax-Exempt Status Of Religious Schools-Conflict With The Religion Clauses Of The First Amendment: Bob Jones University V. United States, R. Clyde Parker Jr.
BYU Law Review
No abstract provided.
A Substance-Oriented Approach To The Boot-Netting Rules Under Section 1031 Of The Internal Revenue Code: Biggs V. Commissioner, Gregory Clark Newton
A Substance-Oriented Approach To The Boot-Netting Rules Under Section 1031 Of The Internal Revenue Code: Biggs V. Commissioner, Gregory Clark Newton
BYU Law Review
No abstract provided.