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Taxation-Federal Estate and Gift Commons

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371 full-text articles. Page 1 of 5.

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.


The Family Llc: A New Approach To Insuring Dynastic Wealth, Evan M. Purcell 2015 George Mason University

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

Evan M Purcell

No abstract provided.


Revisiting The Revolution: Reintegrating The Wealth Transmission System, Melanie B. Leslie, Stewart E. Sterk 2015 Benjamin N. Cardozo School of Law, Yeshiva University

Revisiting The Revolution: Reintegrating The Wealth Transmission System, Melanie B. Leslie, Stewart E. Sterk

Boston College Law Review

Thirty years ago, John Langbein published “The Nonprobate Revolution and the Future of Succession.” The article celebrated testators’ newfound ability to avoid the expense and delay of the probate court system by holding assets in a variety of non-probate devices, such as retirement and bank accounts with beneficiary designations and revocable trusts. Langbein highlighted problems the revolution might generate and predicted how they might be resolved. Since then, significant problems have indeed developed. First, wills law doctrines designed to effectuate intent of testators have not been universally extended to non-probate transfers. Second, the fragmentation of the wealth transmission process has ...


Definitions, Religion, And Free Exercise Guarantees, Mark Strasser 2015 Capital University Law School

Definitions, Religion, And Free Exercise Guarantees, Mark Strasser

Mark Strasser

The First Amendment to the United States Constitution protects the free exercise of religion. Non-religious practices do not receive those same protections, which makes the ability to distinguish between religious and non-religious practices important. Regrettably, members of the Court have been unable to agree about how to distinguish the religious from the non-religious—sometimes, the implicit criteria focus on the sincerity of the beliefs, sometimes the strength of the beliefs or the role that they play in an individual’s life, and sometimes the kind of beliefs. In short, the Court has virtually guaranteed an incoherent jurisprudence by sending contradictory ...


Piketty In America: A Tale Of Two Literatures, Joseph Bankman, Daniel Shaviro 2014 Stanford Law School

Piketty In America: A Tale Of Two Literatures, Joseph Bankman, Daniel Shaviro

New York University Law and Economics Working Papers

Thomas Piketty’s widely-noted and bestselling book, Capital in the Twenty-First Century, does much to advance our empirical understanding of rising high-end wealth concentration, which is one of the central issues of our time. But its theoretical approach and policy recommendations differ sharply from those that have been prevalent in recent decades in the Anglo-American academic tax policy literature. We adjudicate this “confrontation” (insofar as it is one), and find that each approach in some respects both undermines and enriches the other. We find that the optimal tax response to wealth concentration is significantly more complicated than Piketty’s analysis ...


Reconsidering Corporate Tax Privacy, Joshua D. Blank 2014 NYU School of Law

Reconsidering Corporate Tax Privacy, Joshua D. Blank

New York University Law and Economics Working Papers

For over a century, politicians, government officials and scholars in the United States have debated whether corporate tax returns, which are currently subject to broad tax privacy protections, should be publicly accessible. The ongoing global discussion of base erosion and profit shifting by multinational corporations has generated calls for greater tax transparency. Throughout this debate, participants have focused exclusively on the potential reactions of a corporation’s managers, shareholders and consumers to a corporation’s disclosure of its own tax return information. There is, however, another perspective: how would the ability of a corporation’s stakeholders and agents to observe ...


A Comparative Guide Of Where To Die: Should The United Kingdom Repeal Its Inheritance Tax?, William T. Thistle 2014 University of Georgia School of Law

A Comparative Guide Of Where To Die: Should The United Kingdom Repeal Its Inheritance Tax?, William T. Thistle

Georgia Journal of International & Comparative Law

No abstract provided.


The Intersection Of Tax And Bankruptcy: The Mccoy Rule, John Ferguson 2014 Five Stone Tax Advisers LLC

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

John Ferguson

No abstract provided.


United States National Report On Exchange Of Information, Joshua D. Blank, Ruth Mason 2014 NYU School of Law

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).


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


Revitalizing The Estate Tax: 5 Easy Pieces, James R. Repetti, Paul L. Caron 2014 Boston College Law School

Revitalizing The Estate Tax: 5 Easy Pieces, James R. Repetti, Paul L. Caron

Boston College Law School Faculty Papers

In a previous article, we argued that contrary to the state of the law over 35 years ago — when George Cooper wrote his seminal article on the estate tax (A Voluntary Tax? New Perspectives on Sophisticated Estate Tax Avoidance, 77 Colum. L. Rev. 161 (1977))—taxpayers today generally ‘‘can reduce the value of assets subject to transfer tax in many instances only if they are willing to assume the risk that the reduction may be economically real and reduce the actual value of assets transferred to heirs or, alternatively, in narrow situations if they are willing to incur some tax ...


Exporting Fatca, Joshua D. Blank, Ruth Mason 2014 NYU School of Law

Exporting Fatca, Joshua D. Blank, Ruth Mason

New York University Law and Economics Working Papers

The Foreign Account Tax Compliance Act (FATCA) represents a powerful response by the United States to flagrant offshore tax evasion. Although the new reporting regime has been criticized as unilateral and extraterritorial, this short article, prepared for a symposium hosted by Pepperdine Law Review, shows that multilateralism and cooperation so far have been the keys to implementing FATCA. In addition to spurring bilateral Intergovernmental Agreements (IGAs) to implement FATCA, and copycat legislation in other jurisdictions, for many countries, the FATCA reporting requirements represent an aspirational new global standard for automatic exchange of information – one that would supplement, if not replace ...


Advising Estate Planning Clients After The 2012 Tax Act, Dennis I. Belcher, Charles D. Fox IV 2013 College of William & Mary Law School

Advising Estate Planning Clients After The 2012 Tax Act, Dennis I. Belcher, Charles D. Fox Iv

William & Mary Annual Tax Conference

No abstract provided.


Unseating Privilege: Rawls, Equality Of Opportunity, And Wealth Transfer Taxation, Jennifer Bird-Pollan 2013 University of Kentucky College of Law

Unseating Privilege: Rawls, Equality Of Opportunity, And Wealth Transfer Taxation, Jennifer Bird-Pollan

Law Faculty Scholarly Articles

This Article is the second in a series that examines the estate tax from a particular philosophical position in order to demonstrate the relevance and importance of the wealth transfer taxes to that position. In this Article, I explore Rawlsian equality of opportunity, a philosophical position that is at the heart of much American thought. Equality of opportunity requires not only ensuring that sufficient opportunities are available to the least well-off members of society but also that opportunities are not available to other members merely because of their wealth or other arbitrary advantages. Therefore, an income tax alone, even one ...


What's Wrong With A Federal Inheritance Tax?, Wendy Gerzog 2013 SelectedWorks

What's Wrong With A Federal Inheritance Tax?, Wendy Gerzog

Wendy Gerzog

Scholars have proposed a federal inheritance tax as an alternative to the current federal transfer tax system, but there are serious flaws with that idea. Those problems include: (1) different tax rates and exemptions based on the decedent’s relationship to the beneficiary; (2) the lack of a tax on lifetime gratuitous transfers, including gifts with retained interests or control; (3) the persistence of most current valuation distortion abuses; and (4) significantly decreased compliance rates and increased administrative costs inherent in a system that taxes transferees on transactions that may be largely unmonitored.

This article reviews common characteristics of existing ...


What's Wrong With A Federal Inheritance Tax?, Wendy Gerzog 2013 SelectedWorks

What's Wrong With A Federal Inheritance Tax?, Wendy Gerzog

Wendy Gerzog

Scholars have proposed a federal inheritance tax as an alternative to the current federal transfer tax system, but there are serious flaws with that idea. Those problems include: (1) different tax rates and exemptions based on the decedent’s relationship to the beneficiary; (2) the lack of a tax on lifetime gratuitous transfers, including gifts with retained interests or control; (3) the persistence of most current valuation distortion abuses; and (4) significantly decreased compliance rates and increased administrative costs inherent in a system that taxes transferees on transactions that may be largely unmonitored.

This article reviews common characteristics of existing ...


Protecting Those Who Need It Most: A Call For Change To The Tax Application Of Qualified Domestic Relations Orders When Placed Into Special Needs Trusts, Conor Francis Linehan 2013 UMass School of Law

Protecting Those Who Need It Most: A Call For Change To The Tax Application Of Qualified Domestic Relations Orders When Placed Into Special Needs Trusts, Conor Francis Linehan

Conor Francis Linehan

This note calls for a change to the way the Internal Revenue Code is applied towards qualified domestic relations orders when used to fund or partially fund special needs trusts, specifically irrevocable (d)(4)(B) trusts created under § 1396p.

The current status of the law is that an individual can roll over a qualified domestic relations order into a new retirement account in a tax-free transfer. If an individual elects to not roll over into a new retirement fund, some additional exemptions to various early termination penalties and lump sum payments have already been carved out of the Code.

This ...


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