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Taxation-Federal Estate and Gift Commons

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Saving The Next Superman: An Alternative Approach To The Taxation Of Copyright Termination Rights, Benjamin Newell 2015 University of Georgia School of Law

Saving The Next Superman: An Alternative Approach To The Taxation Of Copyright Termination Rights, Benjamin Newell

Journal of Intellectual Property Law

No abstract provided.


2010 Federal Tax Update, Samuel Donaldson 2015 Georgia State University College of Law

2010 Federal Tax Update, Samuel Donaldson

Samuel A. Donaldson

This update explains several developments in the substantive federal income, estate and gift tax laws affecting individual taxpayers and small businesses. It contains summaries of significant cases, rulings, regulations, legislation and other matters from August, 2009, through September, 2010. This update generally does not discuss developments in the areas of qualified plans or the taxation of business entities (except to a very limited extent).


2009 Federal Tax Update, Samuel Donaldson 2015 Georgia State University College of Law

2009 Federal Tax Update, Samuel Donaldson

Samuel A. Donaldson

This paper examines significant developments in the federal income, gift, and estate taxation of individuals and small businesses from August, 2008, through August, 2009. It covers important cases, rulings, regulations, and legislation during this period. This paper generally does not address developments in the areas of qualified plans or the taxation of C corporations (except to limited extents).


2006 Federal Tax Update, Samuel Donaldson 2015 Georgia State University College of Law

2006 Federal Tax Update, Samuel Donaldson

Samuel A. Donaldson

This update explains several developments in the federal income, estate and gift taxes affecting individual taxpayers and small businesses. It contains summaries of significant cases, rulings, regulations, legislation and other matters from August, 2005, through September, 2006. This update generally does not discuss developments in the areas of qualified plans or the taxation of business entities (except to very limited extents).


2011 Federal Tax Update, Samuel Donaldson 2015 Georgia State University College of Law

2011 Federal Tax Update, Samuel Donaldson

Samuel A. Donaldson

This update explains several developments in the substantive federal income, estate and gift tax laws affecting individual taxpayers and small businesses. It contains summaries of significant cases, rulings, regulations, legislation and other matters from August, 2010, through August, 2011. This update generally does not discuss developments in the areas of qualified plans or the taxation of business entities (except to a very limited extent).


Revisiting Byrum, Brant Hellwig 2015 Washington and Lee University School of Law

Revisiting Byrum, Brant Hellwig

Brant J. Hellwig

In the landmark case of United States v. Byrum, the Supreme Court determined that a majority shareholder's retention of voting rights over stock transferred in trust did not cause the stock to be included in his gross estate under Section 2036(a)(1) or (a)(2). The Court grounded its decision in the fiduciary duty owed by the board of directors and the majority shareholder to exercise their discretion over corporate distributions to promote the best interests of the entity. Despite legislative action quickly reversing the Court's holding in Byrum, the case continued to influence decisions concerning the ...


On Discounted Partnership Interests And Adequate Consideration, Brant Hellwig 2015 Washington and Lee University School of Law

On Discounted Partnership Interests And Adequate Consideration, Brant Hellwig

Brant J. Hellwig

Early cases involving the government's invocation of section 2036(a) to combat the use of family limited partnerships to intentionally suppress the value of a decedent's gross estate focused on whether the decedent retained the beneficial enjoyment of the partnership property under section 2036(a)(1) or, perhaps, the right to control such beneficial enjoyment under section 2036(a)(2). In recent years, however, the focus of the section 2036(a) inquiry in the family limited partnership context has shifted almost exclusively to the issue of whether the decedent's contribution of property to the entity satisfies the ...


A Proposal For Integrating The Income And Transfer Taxation Of Trusts, Robert Danforth 2015 Washington and Lee University School of Law

A Proposal For Integrating The Income And Transfer Taxation Of Trusts, Robert Danforth

Robert T. Danforth

Present law fails to integrate the income and transfer (i.e., estate and gift) taxation of trusts; a gratuitous transfer to a trust may be incomplete for income tax purposes (producing a so-called grantor trust, the income of which is taxed to the grantor), but complete for transfer tax purposes. Grantors create trusts that exploit two features of this tax law dichotomy: the grantor's income tax payments on trust income enhance the value of the trust by allowing it to appreciate in value income tax free; and present law provides no basis for subjecting this enhanced value to gift ...


The Family Llc: A New Approach To Insuring Dynastic Wealth, Evan Michael Purcell 2015 Pepperdine University

The Family Llc: A New Approach To Insuring Dynastic Wealth, Evan Michael Purcell

The Journal of Business, Entrepreneurship & the Law

This Article introduces the taxpayer to the basic background principles needed to understand the inner workings of the investment, then provides a guide to drafting considerations for the family's attorney, and concludes with a general plan to maintain business legitimacy and take advantage of tax-favored status, while retaining the flexibility essential to combating the unexpected. Part II addresses the historically favored tax treatment of life insurance products, as well as relatively recent restrictive reforms. Part III addresses the background foundation of the LLC entity and surveys its skeletal structure. Part IV introduces a practical example of how to create ...


Untangling The Strings: Transfer Taxation Of Retained Interests And Powers, Matthew A. Reiber 2015 University of Akron

Untangling The Strings: Transfer Taxation Of Retained Interests And Powers, Matthew A. Reiber

Akron Law Review

No abstract provided.


Estate Tax Repeal: Through The Looking Glass, Karen Burke, Grayson McCouch 2015 University of Florida Levin College of Law

Estate Tax Repeal: Through The Looking Glass, Karen Burke, Grayson Mccouch

Grayson McCouch

The Economic Growth and Tax Relief Reconciliation Act of 2001 promises dramatic reductions in income and estate taxes over a nine-year phase-in period, culminating in 2010 with complete repeal of the estate tax and introduction of a new carryover basis regime for inherited property. The Act's sunset provision automatically terminates these substantive changes at the end of 2010 and reinstates prior law for 2011 and subsequent years. In effect, the sunset provision transforms the large-scale tax cuts into a temporary measure and leaves open the question of whether to make those cuts permanent. Since the Act was signed into ...


The Moving Target Of Tax Reform, Karen Burke, Grayson McCouch 2015 University of Florida Levin College of Law

The Moving Target Of Tax Reform, Karen Burke, Grayson Mccouch

Grayson McCouch

In 2000, Professor William Turnier proposed a package of three reforms to make the estate tax more “equitable” and “taxpayerfriendly.” All of his proposals—allowing a surviving spouse to inherit a deceased spouse’s unused exemption, replacing the state death tax credit with a deduction, and indexing the exemption for inflation—were eventually enacted. Today, the estate tax remains on the books, but changes in rates and exemptions have severely curtailed its role in the larger federal tax system. Income tax rate reductions for capital gains and dividends have further lightened the tax burden on capital income, and international pressure ...


Death Without Taxes?, Karen Burke, Grayson McCouch 2015 University of Florida Levin College of Law

Death Without Taxes?, Karen Burke, Grayson Mccouch

Karen Burke

In recent years the role of the estate, gift and generation-skipping transfer taxes within the federal tax system has become increasingly controversial. The future of the transfer taxes remains unsettled, despite recently enacted legislation that moves in the direction of repeal with a delayed effective date. This paper looks at transfer tax repeal in terms of its repercussions on the rest of the tax system, with special emphasis on the income tax treatment of property transferred by gift or bequest. Repeal of the transfer taxes would reduce the progressivity of the overall tax system, exacerbate existing inequities with respect to ...


The Moving Target Of Tax Reform, Karen Burke, Grayson McCouch 2015 University of Florida Levin College of Law

The Moving Target Of Tax Reform, Karen Burke, Grayson Mccouch

Karen Burke

In 2000, Professor William Turnier proposed a package of three reforms to make the estate tax more “equitable” and “taxpayerfriendly.” All of his proposals—allowing a surviving spouse to inherit a deceased spouse’s unused exemption, replacing the state death tax credit with a deduction, and indexing the exemption for inflation—were eventually enacted. Today, the estate tax remains on the books, but changes in rates and exemptions have severely curtailed its role in the larger federal tax system. Income tax rate reductions for capital gains and dividends have further lightened the tax burden on capital income, and international pressure ...


Which The Deader Hand - A Counter To The American Law Institute's Proposed Revival Of Dying Perpetuities Rules, 86 Tul. L. Rev. 559 (2012), Scott Shepard 2015 John Marshall Law School

Which The Deader Hand - A Counter To The American Law Institute's Proposed Revival Of Dying Perpetuities Rules, 86 Tul. L. Rev. 559 (2012), Scott Shepard

Scott A. Shepard

Encouraged primarily by a fluke in federal estate and gift law, more than half of the states have either effectively or entirely abolished their rules against perpetuities in the past two decades. The American Law Institute, deeply troubled by this development has adopted for its Third Restatement a proposed rule against perpetuities that would essentially prohibit conditional gifts to continue for the benefit of parties born more than two generations after the transferor.

The ALI's efforts are misguided. The rule against perpetuities was the product of a legal, political, and social age very different than our own. It was ...


The Contemporary Tax Journal Volume 5, No. 1 – Spring/Summer 2015, 2015 San Jose State University

The Contemporary Tax Journal Volume 5, No. 1 – Spring/Summer 2015

The Contemporary Tax Journal

No abstract provided.


Tax Planning: Foreign Investment In United States Real Property, William H. Newton III 2015 Kimbrell, Hamann, Jennings, Womack, Carlson & Kniskern

Tax Planning: Foreign Investment In United States Real Property, William H. Newton Iii

Georgia Journal of International & Comparative Law

No abstract provided.


The Proposed Inheritance Tax And Its Impact On China's Economy, Michael Steve 2015 Southern Methodist University

The Proposed Inheritance Tax And Its Impact On China's Economy, Michael Steve

Michael Steve

No abstract provided.


Tax Reform Proposals On A Gift Tax On The Transfer Of Property By Nonresidents, Daze Swift Lee 2015 University of Massachusetts School of Law

Tax Reform Proposals On A Gift Tax On The Transfer Of Property By Nonresidents, Daze Swift Lee

University of Massachusetts Law Review

This Note raises taxation issues pertaining to a gift tax on the transfer of property by nonresidents under current United States tax rules. It further illustrates patterns and trends to evade a gift tax using transaction maneuvers. These issues are defined in three categories: a gift tax on the transfer of property situated only within the United States by a nonresident, no gift tax on the transfer of intangible assets, and transferee liability. In response to such issues, this Note calls for corresponding proposals to resolve gift taxation problems. It proposes that a gift tax should be imposed on the ...


Annual Survey Of Developments In International Trade Law: 1984, Georgia Journal of International and Comparative Law 2015 University of Georgia School of Law

Annual Survey Of Developments In International Trade Law: 1984, Georgia Journal Of International And Comparative Law

Georgia Journal of International & Comparative Law

No abstract provided.


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