Tax Law Commons^™

Nonprofit College Crash: Enforcing Board Fiduciaries Through Increased Accountability And Transparency In The Irs Form 990 Procedure, Kaleb Paul Byars

Articles

Since 1997, the United States has experienced a steady increase in college closings. Private, nonprofit colleges are the most prevalent among these affected institutions. A 2017 study confirmed that 177 colleges failed a U.S. Education Department test for “financial responsibility.” Of these 177 colleges, well over half are private nonprofits. Further, several colleges have closed since the study was completed. It is reasonable to conclude the financial irresponsibility of these schools contributes to their closures. ...

Part I describes fiduciary duties of nonprofit board members and instances of their failure. Part II discusses inadequate nonprofit oversight and provides information regarding …

Lawmakers As Job Buyers, Edward W. De Barbieri

Fordham Law Review

In 2013, Washington State authorized the largest state tax incentive for private industry in U.S. history. It is not remarkable for a state legislature to use tax benefits to retain a major employer—in this case, the global aerospace manufacturer Boeing. Laws across all states and thousands of cities routinely incentivize companies such as Amazon to relocate or remain in particular areas. Notably, however, Washington did not recover any of the subsidies it authorized despite Boeing’s significant post-incentive workforce reductions. This story leads to several important questions: (1) How effective are state and local legislatures at influencing business-location decisions?; (2) Do …

Data First – Tax Next: How Fiji’S Technology Can Improve New Zealand’S 'Netflix Tax' (Electronic Marketplaces) Part 3, Richard Thompson Ainsworth, Chang Che

Faculty Scholarship

This is the third paper examining the recent amendments to the New Zealand Goods and Services Tax (GST) that are commonly known as the Netflix Tax. A fourth paper will follow.

The importance and complexity of dealing with electronic marketplaces has made an independent paper on electronic marketplaces necessary. Taken together this set of four papers assess the effectiveness of the Netflix provisions, and how they can be enhanced by adopting the technology and vision of Fiji’s VAT Monitoring System (VMS). The Netflix provisions were effective, July 1, 2017.

This paper considers rules that allocate the responsibility for collecting, reporting …

Pengaturan Pertanggungjawaban Mutlak Wajib Pajak Di Indonesia Dalam Perspektif Keadilan Dan Kemanfaatan Umum, Henry Dianto Pardamean Sinaga

Jurnal Hukum & Pembangunan

The increasing of tax evasion and tax avoidance, due to lack of taxpayer’s liability regulation in tax legislation, has been very detrimental to state revenues. Based on normative juridical research with descriptive-comparative-prescriptive approach which has been done, it is concluded that the regulation of strict liability of taxpayers of Indonesia can: 1) fulfill the sense of justice in terms of equality and or fairness as long as it meets the condition that reflects of material justice and formal justice which must be regulated explicitly in tax legislation; and 2) provide public benefit to the state in handling the social welfare …

Law School News: Throw Out The Old Thinking 9-30-2019, Michael M. Bowden

Life of the Law School (1993- )

No abstract provided.

Table Of Contents, Seattle University Law Review

Seattle University Law Review

No abstract provided.

Who Is Injured When Racially Discriminatory Private Schools Are Tax-Exempt?, Neal Devins

Neal E. Devins

No abstract provided.

The Bob Jones Case - Over To Congress, Neal Devins

Neal E. Devins

No abstract provided.

Tax Exemptions For Racially Discriminatory Private Schools: A Legislative Proposal, Neal Devins

Neal E. Devins

In Revenue Ruling 71-447, the Internal Revenue Service expressly denied tax exemptions to racially discriminatory private schools. The Reagan administration recently challenged the existence of a defined policy prohibiting tax exemptions to these schools as well as the propriety of the IRS's involvement in regulating social policy. President Reagan has called upon Congress to settle the issue by enacting affirmative legislation. Congress, however, has maintained that long-established federal policy supports Revenue Ruling 71-447 and has refused to enact affirmative legislation. In this Article, Mr. Devins examines the conflict between the executive, judicial, and legislative branches of government and argues that …

Standing And Adverseness In Challenges Of Tax Exemptions For Discriminatory Public Schools, Thomas Mccoy, Neal Devins

Neal E. Devins

No abstract provided.

The Professor Anthony J. Santoro Business Law Lecture Series Presents Becoming A Valued Business Lawyer, Roger Williams University School Of Law, Michael M. Bowden

School of Law Conferences, Lectures & Events

No abstract provided.

The Unique Benefits Of Treating Personal Goodwill As Property In Corporate Acquisitions, Darian M. Ibrahim

Darian M. Ibrahim

Corporate acquisition talks may not get far if buyer and seller disagree over transaction structure, which can have significant after-tax effects. But the parties may have overlooked an item that, due to its potential tax treatment, could be the key to facilitating the acquisition. That item is the selling shareholder's "personal goodwill."

Personal goodwill exists when the shareholder's reputation, expertise, or contacts gives the corporation its intrinsic value. It is most likely to be found in closely held businesses, especially those that are technical, specialized, orprofessional in nature or have few customers and suppliers. If personal goodwill is treated as …

Keeping Up With Tax Law And The Affordable Care Act, Frederick W. Dingledy

Frederick W. Dingledy

No abstract provided.

Why Pension Funding Matters, Eric D. Chason

Eric D. Chason

No abstract provided.

The Economic Ambiguity (And Possible Irrelevance) Of Tax Transition Rules, Eric D. Chason

Eric D. Chason

No abstract provided.

Settlements And Waivers Affecting Pension Benefits Under Erisa, Eric D. Chason

Eric D. Chason

Waivers affecting pension benefits may be entered into as part of a controversy (for example, a settlement agreement) or in isolation (for example, a disclaimer). Under current law, however, it is unclear how these waivers fit within the protections of ERISA, particularly the antialienation rule. Courts have generally honored settlement agreements so long as they are procedurally fair to participants. However, the antialienation rule looms in the background. The IRS and Treasury, in contrast, have focused on waivers outside the settlement context, prohibiting participants from making them but allowing beneficiaries to do so if the waiver satisfies gift-tax rules for …

Taxing Systemic Risk, Eric D. Chason

Eric D. Chason

A tax on the harmful elements of finance—a tax on systemic risk—would raise revenue and also lower the likelihood of future crisis. Financial institutions, which pay the tax, would try to minimize its cost by lowering their systemic risk. In theory, a tax on systemic risk is perfect policy. In practice, however, this perfect policy is unattainable. Tax laws need clear definitions to be administrable. Our current understanding of systemic risk is too abstract and too metaphorical to serve as a target for taxation.

Despite the absence of a clear definition of systemic risk, academics and policy makers continue to …

Taxing Losers, Eric D. Chason

Eric D. Chason

The U.S. tax system, like most in the world, benefits capital gains in two ways. Investors can defer paying tax until they "realize" any gain (typically by sale) rather than when the gain simply occurs via rising prices. Additionally, individual investors pay a lower, preferred rate on their long-term capital gains as compared to their other ordinary income (such as compensation or business profits).

However, investors face a burden with respect to their capital losses. Rather than allowing for unlimited capital loss deductions, the Code largely forces investors to match their capital losses against their capital gains. Limits on capital …

The Post-Tarp Movement To Regulate Banker Pay, Eric D. Chason

Eric D. Chason

No abstract provided.

Outlawing Pension-Funding Shortfalls, Eric D. Chason

Eric D. Chason

Before ERISA, employees faced a large risk that their employers would default or renege on pension obligations. By creating a federal guarantor of pensions (the PBGC), ERISA has greatly reduced this risk. All else being equal, low-risk pensions are worth more to employees but cost more to provide. Congress has never had a coherent policy on who should pay for these extra costs. Moreover, legal scholars have failed to create a theoretical framework for dealing with these costs, focusing instead on the supposed "moral hazard" that the PBGC guaranty creates. This Article inserts itself into the scholarly vacuum, asserting that …