Donor Advised Funds: Charitable Spending Vehicles For 21st Century Philanthropy, 2017 The Catholic University of America, Columbus School of Law
Donor Advised Funds: Charitable Spending Vehicles For 21st Century Philanthropy, Roger Colinvaux
Scholarly Articles and Other Contributions
The donor advised fund (DAF) is changing longstanding giving norms in United States philanthropy. DAF contributions now account for around 8.4% of giving by individuals in the U.S. Over half of those contributions go to national DAF sponsors that have relationships with large commercial investment firms like Fidelity, Vanguard, and Schwab. This Article seeks to advance the understanding of the donor advised fund and to address two of the main policy questions: whether to require a mandatory distribution of funds by DAFs and their sponsoring organizations and how to respond to the increased use of DAFs for noncash ...
Simplexity: Plain Language And The Tax Law, 2017 New York University School of Law
Simplexity: Plain Language And The Tax Law, Joshua D. Blank, Leigh Osofsky
In recent years, federal government agencies have increasingly attempted to use plain language in written communications with the public. The Plain Writing Act of 2010, for instance, requires agencies to incorporate "clear and simple" explanations of rules and regulations into their official publications. In the tax context, as part of its "customer service" mission, the Internal Revenue Service bears a "duty to explain" the tax law to hundreds of millions of taxpayers who file tax returns each year. Proponents of the plain language movement have heralded this form of communication as leading to simplicity in tax compliance, more equitable access ...
Tax Cannibalization And Fiscal Federalism In The United States, 2017 Indiana University Maurer School of Law
Tax Cannibalization And Fiscal Federalism In The United States, David Gamage, Darien Shanske
Articles by Maurer Faculty
We began this project pondering a riddle. Most state governments have adopted what we-and many others-view as clearly suboptimal tax policies, especially in regard to the taxation of corporate income and capital gains. Yet, with the notable exception of those who oppose progressivity and the taxation of capital, state-level tax policymakers have had remarkably little appetite for reform.
This Article provides one major explanation for this riddle by identifying and demonstrating a phenomenon that we label as "tax cannibalization." We argue that flawed state-level tax policies derive in part from perverse incentives inadvertently created by the federal government.
Why A State-Level Carbon Tax Can Include Border Adjustments, 2017 Indiana University Maurer School of Law
Why A State-Level Carbon Tax Can Include Border Adjustments, David Gamage, Darien Shanske
Articles by Maurer Faculty
This is our third in a series of articles considering taxation and greenhouse gas mitigation. To date, all state-level attempts to mitigate greenhouse gas emissions by placing a price on carbon have involved cap-and-trade regimes. In our previous two articles, we considered how importing tax features into a cap and- trade regime could ease distributive concerns and also make cap-and-trade regimes more efficient.
The Definitions Of Income, 2017 Georgetown University Law Center
The Definitions Of Income, John R. Brooks
Georgetown Law Faculty Publications and Other Works
What is income? It’s a seemingly simple question that’s surprisingly hard to answer. Income is the basis for assigning tax burdens, for distributing transfers, and for broader normative issues of inequality and justice. Yet we lack a shared conception of income, and a pure, rigorous definition of income is impossible. In this Article I review the intellectual history of the income concept among tax and fiscal theorists to show the difficulty of the problem, and also to show that some important debates about what’s proper under an income tax can be explained instead as arguments over competing ...
Taxation Without Information: The Institutional Foundations Of Modern Tax Collection, 2017 Allard School of Law at the University of British Columbia
Taxation Without Information: The Institutional Foundations Of Modern Tax Collection, Wei Cui
A prominent strand of recent economic and legal scholarship hypothesizes that third-party information reporting (TPIR) is essential to modern tax collection. The slogan, “no taxation without information,” has captured researchers’ imagination and is even often presented as self-evident truth. This Article offers a fundamentally different perspective, arguing that the emphasis on TPIR is misplaced. TPIR is used largely in the collection of the personal income tax but not of many other types of modern taxes. Even for the personal income tax, TPIR also has close substitutes which do not involve information transmission to the government. Theoretically, the appeal to TPIR ...
Changing The Tax Code To Create Consumer-Driven Health Insurance Competition, 2017 Duke Law School
Changing The Tax Code To Create Consumer-Driven Health Insurance Competition, Regina Herzlinger, Barak D. Richman
Because current tax laws exclude employer-paid health insurance premiums from employees’ taxable wages and income, employer-sponsored insurance remains the primary source of health insurance for most employed Americans. Economists have long blamed the employer-based insurance tax exclusion for inflating health care costs, and, more recently, for constraining income growth and exacerbating income inequality.
We execute a simulation to test the effect of permitting employees to receive their employers’ premium contribution directly and then purchase health insurance themselves, using tax-free funds. Employees could deduct for income tax purposes the amount used for insurance and, if they spend less than the amount ...
Green__Tax Evasion As Crime.Docx, 2016 Rutgers Law School-Newark
Green__Tax Evasion As Crime.Docx, Stuart Green
When Helpers Hurt: Protecting Taxpayers From Preparers, 2016 Washington and Lee University School of Law
When Helpers Hurt: Protecting Taxpayers From Preparers, Michelle L. Drumbl
Michelle L Drumbl
In States We "Trust": Self-Settled Trusts, Public Policy, And Interstate Federalism, 2016 Northwestern Pritzker School of Law
In States We "Trust": Self-Settled Trusts, Public Policy, And Interstate Federalism, Brendan Duffy
Northwestern University Law Review
Over the last twenty years, domestic asset protection trusts have risen in popularity as a means of estate planning and asset protection. A domestic asset protection trust is an irrevocable trust formed under state law which enables an independent trustee to allocate money to a class of
persons, which includes the settlor.
Since Alaska first enacted domestic asset protection legislation in 1997, fifteen states have followed its lead. The case law over the last twenty years addressing these trust mechanisms has, however, been surprisingly sparse. A Washington bankruptcy court decision, In re Huber, altered this drought, but caused more confusion ...
La Prescripción Adquisitiva Y El Régimen Económico De La Propiedad Privada., 2016 Universidad Nacional Mayor de San Marcos
La Prescripción Adquisitiva Y El Régimen Económico De La Propiedad Privada., Leonardo Jara Bazán
Leonardo Jara Bazan
No abstract provided.
Mandatory Third Party Compliance Examinations For Investment Advisers: An Sec Waterloo?, 2016 Brooklyn Law School
Mandatory Third Party Compliance Examinations For Investment Advisers: An Sec Waterloo?, Mercer Bullard
Brooklyn Journal of Corporate, Financial & Commercial Law
The Securities and Exchange Commission (SEC or Commission) appears to be on the verge of requiring investment advisers to undergo third party examinations. One justification for the rulemaking is that the Commission lacks sufficient resources to examine advisers frequently enough. Another is to create indirectly a self-regulatory organization (SRO) for investments advisers. Both may leave a rulemaking particularly vulnerable to challenge as arbitrary and capricious under the Administrative Procedures Act. This Article considers three novel grounds on which a rulemaking may be successfully challenged. Congress has repeatedly rejected SEC requests to provide additional funding for examinations or to create an ...
Country By Country Reporting And Corporate Privacy: Some Unanswered Questions, 2016 University of Michigan Law School
Country By Country Reporting And Corporate Privacy: Some Unanswered Questions, Reuven S. Avi-Yonah
Corporate privacy is an oxymoron. Individuals have a right to privacy, which the Supreme Court has recognized at least since Griswold v. Connecticut (1965). Warren and Brandeis’ famous defense of the right to privacy (1890) clearly applied only to individuals, because only individuals have the kind of feelings that are affected by invasions of privacy. Corporations are legal entities, and the concept of privacy does not apply to them, as the Supreme Court held in 1906. Thus, any objection to making corporate tax returns public cannot rest on the right to privacy. In fact, corporate returns were made public in ...
Show Me The Money: The Ceo Pay Ratio Disclosure Rule And The Quest For Effective Executive Compensation Reform, 2016 Fordham University School of Law
Show Me The Money: The Ceo Pay Ratio Disclosure Rule And The Quest For Effective Executive Compensation Reform, Biagio Marino
Fordham Law Review
This Note discusses past attempts to combat growing levels of executive compensation, analyzes the role of both shareholders and directors in the compensation-setting process, and discusses conflicting views concerning shareholder-director power, the disclosure mechanism, and the pay-ratio metric. Finally, this Note balances these views by proposing alterations to the CEO Pay Ratio Disclosure Rule that preserve the long-standing corporate structure, while also offering shareholders an accountability mechanism to enhance the Rule’s intended results.
The Right Tax At The Right Time, 2016 University of Southern California
The Right Tax At The Right Time, Edward D. Kleinbard
University of Southern California Legal Studies Working Paper Series
The companion paper to this (Capital Taxation in an Age of Inequality) argues that a moderate flat-rate (proportional) income tax on capital imposed and collected annually has attractive theoretical and political economy properties that can be harnessed in actual tax instrument design. This paper continues the analysis by specifying in detail how such a tax might be designed.
The idea of the Dual Business Enterprise Income Tax, or Dual BEIT, is to offer business enterprises a neutral profits tax environment in which to operate, in which normal returns to capital are exempt from tax by means of an annual capital ...
Giving Credit Where Credit Is Due: Reducing Inequality With A Progressive State Tax Credit, 2016 William & Mary Law School
Giving Credit Where Credit Is Due: Reducing Inequality With A Progressive State Tax Credit, Eric Kades
No abstract provided.
La Prescripción Adquisitiva Y El Régimen Económico De La Propiedad Privada, 2016 Universidad Nacional Mayor de San Marcos
La Prescripción Adquisitiva Y El Régimen Económico De La Propiedad Privada, Leonardo Jara Bazán
Leonardo Jara Bazan
No abstract provided.
Further Remarks On Walras' Law And Nonoptimal Equilibria, 2016 Iowa State University
Further Remarks On Walras' Law And Nonoptimal Equilibria, Mark Pingle, Leigh Tesfatsion
In a recent paper, Aiyagari (1992) demonstrates a connection between the failure of Walras' Law and nonoptimal equihbria in overlapping generations economies. The significant implication of Walras' Law in finite economies, given all prices are positive and all consumers are locally nonsatiated, is that an excess supply (in value terms) cannot exist for some subset of goods without an excess demand (in value terms) existing for some other subset of goods. Aiyagari defines the failure of Walras' Law as a situation in which this implication of Walras' Law does not hold. His basic (and interesting) result is to show that ...
Taxation – Selection Of Exchange Rate For Translation Purposes -- Where Multiple Exchange Rates Exist For A Foreign Currency And The Underlying Transaction Is Financial In Nature, The Proper Rate For Translation Components Of Taxable Income Is The "Free" Market Rate (Durovic V. Commissioner Of Internal Revenue, 7th Cir. 1976), 2016 University of Georgia School of Law
Taxation – Selection Of Exchange Rate For Translation Purposes -- Where Multiple Exchange Rates Exist For A Foreign Currency And The Underlying Transaction Is Financial In Nature, The Proper Rate For Translation Components Of Taxable Income Is The "Free" Market Rate (Durovic V. Commissioner Of Internal Revenue, 7th Cir. 1976), Tim J. Floyd
Georgia Journal of International & Comparative Law
No abstract provided.
Why Tax Wealth Transfers?: A Philosophical Analysis, 2016 University of Kentucky College of Law
Why Tax Wealth Transfers?: A Philosophical Analysis, Jennifer Bird-Pollan
The one-hundredth anniversary of the estate tax provides an ideal moment to reflect on the role of wealth transfer taxation in the larger scheme of the U.S. tax system. Wealth and income inequality are at historically high levels, and the responses to these issues are often reduced to a simplistic political dichotomy of “right” versus “left.” The multitude of views of the American people cannot be reduced to such simple generalities without losing important nuances. This Article identifies three general categories of political philosophical viewpoints that are commonly endorsed by both politicians and everyday Americans, and then examines the ...