Open Access. Powered by Scholars. Published by Universities.®
- Discipline
Articles 1 - 8 of 8
Full-Text Articles in Taxation-Federal
Tax Recognition, Barry Cushman
Tax Recognition, Barry Cushman
Journal Articles
This article was prepared for the St. Louis University Law Journal’s “Teaching Trusts & Estates” issue. Many law students take a course in Trusts & Estates, but comparatively few enroll in a class devoted to the federal wealth transfer taxes. For most law students, the Trusts & Estates course provides the only opportunity for exposure to some of the basic features of the estate tax, the gift tax, the generation-skipping transfer tax, and some related features of the income tax. The coverage demands of the typical Trusts & Estates course do not allow for intensive discussion of these issues, but …
Nonprofits, Politics, And Privacy, Lloyd Hitoshi Mayer
Nonprofits, Politics, And Privacy, Lloyd Hitoshi Mayer
Journal Articles
The first Part of this Article briefly reviews and contrasts the history and current rules governing disclosure and privacy in the federal tax, federal tax exemption, and federal election law contexts. This review reveals that both the cost-benefit approach and the right-to-privacy approach can be found in this history, but to a greater or lesser extent depending on the context. The second Part explores these two different approaches and the extent to which the existing disclosure rules reflect those approaches. This Part shows that the rules are sometimes but not always based both on the cost-benefit approach to disclosure, in …
A Quiet Faith? Taxes, Politics, And The Privatization Of Religion, Richard W. Garnett
A Quiet Faith? Taxes, Politics, And The Privatization Of Religion, Richard W. Garnett
Journal Articles
The government exempts religious associations from taxation and, in return, restricts their putatively political expression and activities. This exemption-and-restriction scheme invites government to interpret and categorize the means by which religious communities live out their vocations and engage the world. But government is neither well-suited nor to be trusted with this kind of line-drawing. What's more, this invitation is dangerous to authentically religious consciousness and associations. When government communicates and enforces its own view of the nature of religion - i.e., that it is a private matter - and of its proper place - i.e., in the private sphere, not …
Are Back Pay And Damages In Age Discrimination Cases Subject To Income Taxes?, Matthew J. Barrett
Are Back Pay And Damages In Age Discrimination Cases Subject To Income Taxes?, Matthew J. Barrett
Journal Articles
The Internal Revenue Code excludes damages received "on account of personal injuries" from federal income taxation. In this case, the Supreme Court decides if back pay and damages received under the Age Discrimination in Employment Act qualify for this exclusion. The Court's decision could affect thousands of workers who have brought, or may bring, federal age discrimination claims after losing their jobs in downsizings. It may also resolve the tax status of punitive damages.
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
Journal Articles
The tax benefit rule should be described to indicate that it applies to credits and exclusions besides deductions, and deduction recoveries should be reported in the same location as was affected initially. The recovery should not affect gross income, for the purpose of tax equity. The recovery should rather affect either taxable income or adjusted gross income. The IRS and the courts should adopt this new description and principles.
The Character Of A Partner's Distributive Share Under The "Substantial Economic Effect" Regulation, Alan Gunn
The Character Of A Partner's Distributive Share Under The "Substantial Economic Effect" Regulation, Alan Gunn
Journal Articles
Partnership income and deductions are allocated according to the amount and the character of each partner's distributive share. This article examines the ways in which the section 704(b) regulations apply the "substantial economic effect" test to character allocations. It argues that it is important to distinguish allocations of character from allocations of amounts to understand these regulations. This is because tests that the regulations apply to character issues have to do with source-measurement correspondence and proration, while amounts are determined according to economic effect in the capital account sense. Although the regulations' rules for character allocations purport to define "substantiality," …
Rira -- A Legal Information System In The Internal Revenue Service, David T. Link
Rira -- A Legal Information System In The Internal Revenue Service, David T. Link
Journal Articles
The IRS legal information retrieval program is still in its infancy. The results of its use so far indicate that the program is on a sound foundation. Consequently, the Office has great hopes for it. By eliminating a great deal of the duplication of effort among the attorneys it promises to result in certain economies to the Office. More important, it should assure a more consistent treatment of taxpayers through greater coordination than has ever been possible in the past. And most important, by providing more comprehensive and timely decision-making information the system should further the Offices constant goal of …
Federal Income Tax In Relation To Consumer Cooperatives, Joseph O'Meara
Federal Income Tax In Relation To Consumer Cooperatives, Joseph O'Meara
Journal Articles
The taxation of consumer cooperative associations has proceeded on an erroneous assumption deriving from Eisner v. Macomber. Contrary to that assumption, so long as these non-profit, mutual-benefit undertakings confine themselves to their proper functions they have no income under the Sixteenth Amendment and cannot validly be required to pay an income tax.