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Full-Text Articles in Taxation-Federal
Judicial Review Of Treasury Regulations For Taxpaying And Nontaxpaying Citizens, Paul E. Sullivan, Jr.
Judicial Review Of Treasury Regulations For Taxpaying And Nontaxpaying Citizens, Paul E. Sullivan, Jr.
Washington Law Review
This paper explores the possibility of subjecting such an administrative ruling to judicial review initiated either by a taxpayer not benefited by the regulation or by a nontaxpayer. For either party to prevail he must prove that he has standing, that judicial review is available, and that there is a remedy which he can obtain by judicial review
Income Tax—Section 482 Of The Internal Revenue Act: Commissioner's Authority To Allocate Income Is Limited By Taxpayer Legal Disability—Commissioner Of Internal Revenue V. First Security Bank Of Utah, N.A., 405 U.S. 394 (1972), J. P. H.
Washington Law Review
First Security Bank, a wholly owned subsidiary of Holding Company, referred its borrowers to Security Life, a sister subsidiary, for the purpose of obtaining credit insurance. Security Life paid no commissions to First Security, but it did pay substantial dividends to Holding Company. By funneling all of the premium income through Security Life, which qualifed for preferential treatment as a life insurance company, Holding Company enjoyed a substantial tax advantage. The Commissioner of Internal Revenue, acting pursuant to section 482 of the Internal Revenue Code,4 sent notice of deficiencies to First Security based on an allocation to that subsidiary of …