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A Whole New World: Income Tax Considerations Of The Bitcoin Economy, Benjamin W. Akins JD, LLM, Jennifer L. Chapman JD, CPA, Jason M. Gordon JD, MBA 2015 SelectedWorks

A Whole New World: Income Tax Considerations Of The Bitcoin Economy, Benjamin W. Akins Jd, Llm, Jennifer L. Chapman Jd, Cpa, Jason M. Gordon Jd, Mba

Benjamin W. Akins

Bitcoin is a virtual, cryptocurrency growing rapidly in influence throughout the world. Numerous characteristics associated with the bitcoin system, including low transaction costs and greater user privacy, make it appealing as a medium of electronic payment. The number of users of bitcoin, including merchants accepting the currency as a form of payment, has grown considerably in recent years. Estimates indicate that there are more than 60,000 active bitcoin users as of September 2012, with nearly 11 million bitcoins in existence. According to the latest estimates, bitcoin market capitalization is roughly $9 billion. The growth of bitcoin as an accepted ...


The Death Of Tax Court Exceptionalism, Stephanie Hoffer, Christopher J. Walker 2014 SelectedWorks

The Death Of Tax Court Exceptionalism, Stephanie Hoffer, Christopher J. Walker

Christopher J. Walker

Tax exceptionalism—the view that tax law does not have to play by the administrative law rules that govern the rest of the regulatory state—has come under attack in recent years. In 2011, the Supreme Court rejected such exceptionalism by holding that judicial review of the Treasury Department’s interpretations of the tax code is subject to the same Chevron deference regime that applies throughout the administrative state. The D.C. Circuit followed suit by rejecting the IRS’s position that its notices are not subject to judicial review under the Administrative Procedure Act (APA). This Article calls for ...


Charitable Giving And Utilitarianism: Problems And Priorities, Miranda Perry Fleischer 2014 Maurer School of Law: Indiana University

Charitable Giving And Utilitarianism: Problems And Priorities, Miranda Perry Fleischer

Indiana Law Journal

Charitable giving is redistributive at heart. It is thus surprising that scholarship on the charitable tax subsidies focuses on the efficient and pluralistic production of public goods while largely ignoring distributive justice concerns. Existing scholarship and current law leave crucial questions unanswered: How should we prioritize among charities? Should subsidized groups be required to help the poor? Are criticisms that charities do too little to help the poor valid? This Article is part of a series that examines how each common theory of distributive justice would answer these questions.

More specifically, this Article explores utilitarianism and the charitable tax subsidies ...


The Medical Device Excise Tax: An Unfair Burden, Elizabeth M. Bolka 2014 Maurer School of Law: Indiana University

The Medical Device Excise Tax: An Unfair Burden, Elizabeth M. Bolka

Indiana Law Journal

No abstract provided.


A Comparison Of Corporate Taxation In The United States And Germany: Different Ways Up The Mountain, Walter D. Schwidetzky 2014 University of Georgia School of Law

A Comparison Of Corporate Taxation In The United States And Germany: Different Ways Up The Mountain, Walter D. Schwidetzky

Georgia Journal of International & Comparative Law

No abstract provided.


Exotic Dancing: Taxable Gyrations Or Exempt Art, John O. Hayward 2014 SelectedWorks

Exotic Dancing: Taxable Gyrations Or Exempt Art, John O. Hayward

John O. Hayward

Exotic dancers usually embroil themselves in censorship battles with local authorities. But recently they have drawn the attention of tax authorities who have tussled with the owners of so-called “gentlemen’s clubs” over whether the exotic dancing performed in their establishments are subject to taxation. This paper examines several recent cases where state authorities choose to tax exotic dancing while at the same time exempting what some jurists regard as comparable choreographic performances. In the opinion of these commentators, the tax authorities exhibited a bias against low-brow artistic expression, thus engaging in impermissible content discrimination. It advances the proposition that ...


The Intersection Of Tax And Bankruptcy: The Mccoy Rule, John Ferguson 2014 SelectedWorks

The Intersection Of Tax And Bankruptcy: The Mccoy Rule, John Ferguson

John Ferguson

No abstract provided.


"Competitiveness" Has Nothing To Do With It, Edward D. Kleinbard 2014 BLR

"Competitiveness" Has Nothing To Do With It, Edward D. Kleinbard

University of Southern California Legal Studies Working Paper Series

The recent wave of corporate tax inversions has triggered interest in what motivates these tax-driven transactions now. Corporate executives have argued that inversions are explained by an “anti-competitive” U.S. tax environment, as evidenced by the federal corporate tax statutory rate, which is high by international standards, and by its “worldwide” tax base. This paper explains why this competitiveness narrative is largely fact-free, in part by using one recent articulation of that narrative (by Emerson Electric Co.’s former vice-chairman) as a case study.

The recent surge in interest in inversion transactions is explained primarily by U.S. based multinational ...


Beer, Liquor, Or A Little Bit Of Both? Getting To The Bottom Of Properly Classifying Flavored Malt Beverages In The United States And Australia, Bryan A. Schivera 2014 University of Georgia School of Law

Beer, Liquor, Or A Little Bit Of Both? Getting To The Bottom Of Properly Classifying Flavored Malt Beverages In The United States And Australia, Bryan A. Schivera

Georgia Journal of International & Comparative Law

No abstract provided.


Congress Promotes Perpetual Trusts: Why?, Lawrence W. Waggoner 2014 University of Michigan Law School

Congress Promotes Perpetual Trusts: Why?, Lawrence W. Waggoner

Law & Economics Working Papers

This posting updates the article titled Congress Promotes Perpetual Trusts: Why?. The article was originally posted on SSRN in September 2013. The updated version incorporates a discussion of two new developments—the unveiling of the long-awaited House Ways and Means Committee’s proposal for comprehensive tax reform and the issuance of the president’s proposed budget for 2015. Both of these new developments are disappointing because neither proposes curtailing or effectively curtailing perpetual trusts. By unwittingly granting a tax exemption for perpetual trusts, Congress undermined state perpetuity law and promoted private trusts that can last and remain tax exempt for ...


Complexity And Simplicity In Law: A Review Essay (Cass R. Sunstein, Simpler 2013)), David M. Driesen 2014 Syracuse University

Complexity And Simplicity In Law: A Review Essay (Cass R. Sunstein, Simpler 2013)), David M. Driesen

David M Driesen

This essay discusses Cass Sunstein’s book, Simpler, in order to advance our understanding of the concepts of complex and simple law. Many writers identify complexity with uncertainty and high cost. This essay argues that complexity bears no fixed relationship to costs or benefits. It also shows that complexity’s relationship to uncertainty is so ambiguous that it is profitable to treat complexity and uncertainty as separate concepts. It develops useful separate concepts of legal and compliance complexity that will aid efforts to simplify law, like the one Sunstein claims to have embarked upon. It also argues that complexity is ...


The Origins Of Affirmative Fiscal Action, Mirit Eyal-Cohen 2014 SelectedWorks

The Origins Of Affirmative Fiscal Action, Mirit Eyal-Cohen

Mirit Eyal-Cohen

This article highlights an anomaly. It shows that two tax rules aimed to achieve a similar goal were introduced at the same time. Both meant to be temporary and bring economic stimuli, but received a dramatically different treatment. The less efficient or economically inferior survived. Its superior counterpart did not. The article reviews the reasons for this paradox. It shows that the reason is both political and an agency problem. The article not only enriches an important and ongoing debate that has received much attention in recent years, but also provides important lessons to policymakers.


Redevelopment In California: The Demise Of Tif-Funded Redevelopment In California And Its Aftermath, George Lefcoe, Charles W. Swenson 2014 BLR

Redevelopment In California: The Demise Of Tif-Funded Redevelopment In California And Its Aftermath, George Lefcoe, Charles W. Swenson

University of Southern California Legal Studies Working Paper Series

California was the first state to embrace the use of tax increment financing (TIF) for redevelopment, and the first state to abandon it. Both the rise and fall of redevelopment are attributable to the fact that cities and counties sponsoring redevelopment could pledge not just their own share of the property tax increments from redevelopment project areas but also those of the other taxing entities including schools and special districts.

By voter initiative in 1978, California enacted significant limitations on the property tax, cutting property tax revenues by half. The property tax had been the most important revenue source for ...


Multiple Myopias, Multiple Selves, And The Under-Saving Problem, Daniel Shaviro 2014 NELLCO

Multiple Myopias, Multiple Selves, And The Under-Saving Problem, Daniel Shaviro

New York University Law and Economics Working Papers

In both public policy debate and the academic literature, there is widespread, though not universal, agreement that millions of Americans are saving too little for their own retirements. If this is true, we could potentially increase such individuals’ welfare through the adoption of policies that resulted in their saving more. A key dilemma, however, is that, unless one understands why people are under-saving, it is hard to evaluate the likely responses to or merits of a given policy.

Possible explanations for systematic under-saving include at least the following: (1) naïve myopia, (2) sophisticated or self-aware myopia, (3) procrastination, or putting ...


United States National Report On Exchange Of Information, Joshua D. Blank, Ruth Mason 2014 NELLCO

United States National Report On Exchange Of Information, Joshua D. Blank, Ruth Mason

New York University Law and Economics Working Papers

This National Report was prepared for the 2014 Annual Congress of the European Association of Tax Law Professors, which took place in May 2014 at Koç University, Istanbul, Turkey. This National Report discusses administrative and legal mechanisms, especially the Foreign Account Tax Compliance Act (FATCA), that the United States has deployed to obtain offshore tax information. Portions of this National Report were originally published in Joshua D. Blank and Ruth Mason, “Exporting FATCA,” 142 Tax Notes 1245 (2014).


Penalties For The Failure To Report Foreign Financial Accounts And The Excessive Fines Clause Of The Eighth Amendment, Matthew A. Melone 2014 SelectedWorks

Penalties For The Failure To Report Foreign Financial Accounts And The Excessive Fines Clause Of The Eighth Amendment, Matthew A. Melone

Matthew A. Melone

Offshore financial accounts held by U.S. citizens or residents have been the subject of government scrutiny for some time. These accounts often are maintained by taxpayers as repositories of funds derived from illegal activities or to evade income taxes both on funds derived from legal and illegal activities. Recent high profile scandals, particularly those that involved Swiss banks, have brought heightened congressional and public attention to the nefarious use of such accounts. Particularly prominent was the scandal involving UBS and the deliberate attempts by its private banking division to aid U.S. citizens in evading income taxes. This scandal ...


Marriage Penalty: How Stacking Income Affects The Secondary Earner’S Decision To Work, Kevin M. Walsh 2014 SelectedWorks

Marriage Penalty: How Stacking Income Affects The Secondary Earner’S Decision To Work, Kevin M. Walsh

Kevin M Walsh

Our progressive tax rate structure is aimed at taxing citizens fairly and based on their ability to pay. The rate structure, however, partially loses its purpose when analyzing the income taxation of married individuals. If a married couple decides to file jointly they are sometimes taxed at higher rates than individuals are depending on the incomes of the couple. This has created what we know today as the “marriage penalty,” and it can serve as a deterrent to the secondary earner from working.

There is no simple solution to address how the marriage penalty, in combination with necessary expenses, affects ...


Renewable Energy: Where We Are Now And How Renewable Energy Investment And Development Can Be Expanded, Kevin M. Walsh 2014 SelectedWorks

Renewable Energy: Where We Are Now And How Renewable Energy Investment And Development Can Be Expanded, Kevin M. Walsh

Kevin M Walsh

The renewable energy field is currently stifled because many renewable energy developments require tax equity investors to provide additional funds to get the project off the ground and running. The Code provides tax credits to incentivize investors to invest. Currently, the Investment Tax Credit (“ITC”) is the only available credit left for renewable projects placed in service from 2014 on. Tax credits are a step in the right direction to encourage renewable investment; however, the credits are limited in application mostly to large financial institutions. Moreover, investments into one specific renewable energy project can be risky because there is no ...


Moving Beyond Marriage: A Proposed Unit Of Presumed Economic Interdependence For Joint Filing Purposes In Bankruptcy And In Tax, Heather V. Graham 2014 Pace University

Moving Beyond Marriage: A Proposed Unit Of Presumed Economic Interdependence For Joint Filing Purposes In Bankruptcy And In Tax, Heather V. Graham

Pace Law Review

In order to promote both equality and efficiency, this Comment proposes that individuals should have the opportunity to file jointly for tax and bankruptcy purposes when they have a relationship predicated upon economic interdependence, as opposed to basing the opportunity to file jointly upon marital status. Part I of this Comment will briefly discuss the history of marriage in the United States. In particular, Part I will discuss the role that the government has had in promoting and regulating marriage and how the treatment of married persons operates to the exclusion of the unmarried. Parts II and III of this ...


The Tax Code's Crowdfunding Dilemma: The Temptation Of Kickstarter Creators To Use The Gift Exclusion Under Section 102(A), Eric Dietz 2014 Hamline University

The Tax Code's Crowdfunding Dilemma: The Temptation Of Kickstarter Creators To Use The Gift Exclusion Under Section 102(A), Eric Dietz

Hamline Law Review

abstract


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