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Book Review: International Tax Planning. By Barry Spitz. London, England: Butterworth & Co. Ltd., 1972. Pp. Xxiii, 159. $12.15 (U.S.)., Donald O. Clark 2016 McClain, Mellen, Bowling & Hickman

Book Review: International Tax Planning. By Barry Spitz. London, England: Butterworth & Co. Ltd., 1972. Pp. Xxiii, 159. $12.15 (U.S.)., Donald O. Clark

Georgia Journal of International & Comparative Law

No abstract provided.


Why Does Inequality Matter? Reflections On The Political Morality Of Piketty's Capital In The Twenty-First Century, Liam B. Murphy 2016 NYU School of Law

Why Does Inequality Matter? Reflections On The Political Morality Of Piketty's Capital In The Twenty-First Century, Liam B. Murphy

New York University Law and Economics Working Papers

In the Conclusion to Capital in the Twenty-First Century Thomas Piketty issues a call for a political and historical economics. Like Marx and the political economists before him, Piketty is interested in how markets work because he is interested in the rights and wrongs of institutional, especially legal, design. His is book is guided by a clear sense that economic inequality, especially inequality of wealth, raises serious prima facie problems of social justice. This essay is a critical investigation into the political morality underlying Capital in the Twenty-First Century that unravels and evaluates the different ways in which economic inequality ...


Why Does Inequality Matter? Reflections On The Political Morality Of Piketty's Capital In The Twenty-First Century, Liam B. Murphy 2016 NYU School of Law

Why Does Inequality Matter? Reflections On The Political Morality Of Piketty's Capital In The Twenty-First Century, Liam B. Murphy

New York University Public Law and Legal Theory Working Papers

In the Conclusion to Capital in the Twenty-First Century Thomas Piketty issues a call for a political and historical economics. Like Marx and the political economists before him, Piketty is interested in how markets work because he is interested in the rights and wrongs of institutional, especially legal, design. His is book is guided by a clear sense that economic inequality, especially inequality of wealth, raises serious prima facie problems of social justice. This essay is a critical investigation into the political morality underlying Capital in the Twenty-First Century that unravels and evaluates the different ways in which economic inequality ...


A Wealth Tax: Taxing The Estates Of The Living, David J. Shakow 2016 University of Pennsylvania Law School

A Wealth Tax: Taxing The Estates Of The Living, David J. Shakow

Boston College Law Review

It has now been one hundred years since the passage of the first estate tax, and since that time the size and complexity of the federal tax system has only continued to grow. In the face of that complexity it is worthwhile for the United States to begin considering alternatives. Do we continue with our system of income and consumption taxation, or do we turn to a wealth tax? A wealth tax is sometimes criticized as being too complex, but there are reasons to suggest it is no more complex than our current system—and possibly even less complex. When ...


The One-Hundredth Anniversary Of The Federal Estate Tax: It’S Time To Renew Our Vows, Paul L. Caron 2016 Pepperdine School of Law

The One-Hundredth Anniversary Of The Federal Estate Tax: It’S Time To Renew Our Vows, Paul L. Caron

Boston College Law Review

The approaching one-hundredth anniversary of the federal estate tax is an opportune time to revisit its historical origins, its role in our government and society through the years, and its current and future place in our fiscal firmament. This Article argues that the reasons behind the enactment of the estate tax in 1916—to raise revenue during a time of war, enhance the progressivity of the tax system, and curb concentrations of wealth—are even more compelling in 2016. As a result, this Article argues that revitalization of the estate tax should be a central tax reform plank of the ...


What Do We Know About The Behavioral Effects Of The Estate Tax?, David Joulfaian 2016 The National Bureau of Economic Research

What Do We Know About The Behavioral Effects Of The Estate Tax?, David Joulfaian

Boston College Law Review

Few estates are subject to the estate tax, which accounts for only a small portion of federal revenues. Even so, those whose estates may be subject to the tax tend to have access to high-quality advice and to engage in long-term tax planning. Because of this, the presence of the estate tax has a broad impact on the economic activity of those who are likely to be subject to the tax (as well as those who stand to benefit from those estates). This Article explores some of the choices that those who are affected by the estate tax may face ...


Why Tax Wealth Transfers?: A Philosophical Analysis, Jennifer Bird-Pollan 2016 University of Kentucky College of Law

Why Tax Wealth Transfers?: A Philosophical Analysis, Jennifer Bird-Pollan

Boston College Law Review

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 ...


Marital Sharing Of Transfer Tax Exemptions, Kerry A. Ryan 2016 Saint Louis University School of Law

Marital Sharing Of Transfer Tax Exemptions, Kerry A. Ryan

Boston College Law Review

This Article analyzes portability and its antecedents in order to distill a positive account of marital sharing of transfer tax exemption amounts. Prior to 2010, the estate and gift tax exemption equivalent was a non-transferable, separate tax attribute of each spouse. A spouse could only access his or her spouse’s effective exemption by shifting property into the other spouse’s tax base. With the enactment of portability, Congress decoupled tax-free availability of a spouse’s unified credit from the necessity of a prior intra-spousal transfer. All that is required is an election by the decedent spouse, via the executor ...


Alternatives To The Gift And Estate Tax, David G. Duff 2016 University of British Columbia Peter A. Allard School of Law

Alternatives To The Gift And Estate Tax, David G. Duff

Boston College Law Review

Following the near-death experience of the federal gift and estate tax in 2010, the hundredth anniversary of the tax represents an ideal moment to reflect on the role of this tax and whether an alternative approach might be more desirable and sustainable. This Article examines four prominent alternatives to the current tax: an annual wealth tax, taxing unrealized gains at death, including gifts and inheritances in income, and a lifetime accessions tax that would apply to the cumulative value of gifts and inheritances received by individuals over their lifetimes. In order to assess these alternatives, the Article reconsiders the reasons ...


Toward A Reality-Based Estate Tax, Wendy C. Gerzog 2016 University of Baltimore School of Law

Toward A Reality-Based Estate Tax, Wendy C. Gerzog

Boston College Law Review

Currently, the estate tax does not accurately value the property and transactions that it is meant to cover. Additionally, the marital and charitable deductions do not reflect actual associated transfers, instead skewing their benefits away from their purported beneficiaries. This Article proposes reforming the estate tax by eliminating these sources of unreality and distortion, and to make the current estate tax a reality-based tax. Through six specific proposals, the Article identifies solutions to the problems associated with testamentary transfers, puts forth alternative methods of valuation to prevent gaming of transfer taxes, and offers significant modifications to two deduction provisions.


Three Whacks At Wealth Transfer Tax Reform: Retained-Interest Transfers, Generation-Skipping Trusts, And Flp Valuation Discounts, Joseph M. Dodge 2016 Florida State University College of Law

Three Whacks At Wealth Transfer Tax Reform: Retained-Interest Transfers, Generation-Skipping Trusts, And Flp Valuation Discounts, Joseph M. Dodge

Boston College Law Review

This Article offers three sets of proposals to reform the existing federal wealth transfer tax system, the common theme being the link between the timing of the taxable transfer and valuation. Under the first set of proposals, transfers with retained interests would be taxed at the first to occur of the transferor’s death or the date the interest expired. In addition, the term “retained interest” would be broadly construed to encompass the power to revoke and the possibility of receiving income or corpus under another person’s power. The second set of proposals relates to the generation-skipping tax. To ...


Should We Tax The Gratuitous Transfer Of Wealth?: An Introduction, James R. Repetti 2016 Boston College Law School

Should We Tax The Gratuitous Transfer Of Wealth?: An Introduction, James R. Repetti

Boston College Law Review

The estate tax was enacted because of concerns about the impact of large concentrations of dynastic wealth on the political process. As discussed in this commentary, which reviews the Symposium articles by Paul Caron, David Joulfaian, and Jennifer Bird-Pollan, recent research by political scientists supports the legitimacy of these concerns. In addition, a significant body of studies suggests that inequality has a long-term negative impact on growth. Paul Caron observes in his article that progressivity in our tax system has been decreasing and that the estate tax was 60% or higher for fifty years (1934–1983), a rate much higher ...


Valuation, Values, Norms: Proposals For Estate And Gift Tax Reform, Bridget J. Crawford 2016 Pace University Elisabeth Haub School of Law

Valuation, Values, Norms: Proposals For Estate And Gift Tax Reform, Bridget J. Crawford

Boston College Law Review

In their contributions to this Symposium, Professor Joseph Dodge, Professor Wendy Gerzog, and Professor Kerry Ryan offer concrete proposals for improving the existing estate and gift tax system. Professor Dodge and Professor Gerzog are especially interested in accuracy in valuation, and advance specific proposals with respect to split-interest transfers and family limited partnerships. Professor Dodge makes an additional proposal to improve the generation-skipping transfer tax system, an understudied area of the law. Professor Gerzog’s Symposium contribution draws particular attention to the legal fiction on which the estate and gift tax marital deductions rely. She would restrict the availability of ...


“Death Tax” Politics, Michael J. Graetz 2016 Columbia Law School

“Death Tax” Politics, Michael J. Graetz

Boston College Law Review

In his Keynote Address “Death Tax” Politics at the October 2, 2015 Boston College Law School and American College of Trust and Estate Counsel Symposium, The Centennial of the Estate and Gift Tax: Perspectives and Recommendations, Michael Graetz describes the fight over the repeal of the estate tax and its current diminished state. Graetz argues that the political battle over the repeal of the estate tax reflects a fundamental challenge to our nation’s progressive tax system. This Address concludes that a revitalized estate tax is important for managing the national debt and reducing massive inequalities in wealth.


Divide And Conquer: Using An Accessions Tax To Combat Dynastic Wealth Transfers, Miranda Perry Fleischer 2016 University of San Diego School of Law

Divide And Conquer: Using An Accessions Tax To Combat Dynastic Wealth Transfers, Miranda Perry Fleischer

Boston College Law Review

The current estate tax raises little revenue, yet is ill designed to further the social goals used to justify it. This Article takes one frequently mentioned goal—minimizing dynastic wealth transfers—and explores what insights focusing on that objective yields for the design of the transfer tax system. It starts from the premise that what renders dynastic wealth transfers problematic is that such transfers can bestow upon the recipient unearned political and economic power, which contravenes the democratic ideal that power should be earned, not inherited. Under this view, the tax system should be concerned with neither the build-up of ...


Considering Alternatives: Are There Methods Other Than The Estate And Gift Tax That Could Better Address Problems Associated With Wealth Concentration?, Ray D. Madoff 2016 Boston College Law School

Considering Alternatives: Are There Methods Other Than The Estate And Gift Tax That Could Better Address Problems Associated With Wealth Concentration?, Ray D. Madoff

Boston College Law Review

This Commentary analyzes three articles generated from the Symposium “The Centennial of the Estate and Gift Tax: Perspectives and Recommendations,” held on October 2, 2015 at Boston College Law School. This Commentary explores the underlying purpose of the estate and gift tax: eliminating wealth inequality. It then considers the three articles’ proposed alternative tax systems—namely an accession tax and a wealth tax—that could more adequately address the problem of wealth concentration, and evaluates the merits of each.


The Timing Of Tax Transparency, Joshua D. Blank 2016 NYU School of Law

The Timing Of Tax Transparency, Joshua D. Blank

New York University Law and Economics Working Papers

Fairness in the administration of the tax law is the subject of intense debate in the United States. As recent headlines reveal, the Internal Revenue Service has been accused of failing to enforce the tax law equitably in its review of tax-exempt status applications by political organizations, the international tax structures of multinational corporations, and the estate tax returns of millionaires, among other areas. Many have argued that greater “tax transparency” would better empower the public to hold the IRS accountable and the IRS to defend itself against accusations of malfeasance. Mandatory public disclosure of taxpayers’ tax return information is ...


The Concept Of Church In The 1954 Internal Revenue Code, Joseph D. Garland, William F. Cahill 2016 St. John's University School of Law

The Concept Of Church In The 1954 Internal Revenue Code, Joseph D. Garland, William F. Cahill

The Catholic Lawyer

No abstract provided.


Front Matter (Letter From The Editor, Masthead, Etc.), 2016 San Jose State University

Front Matter (Letter From The Editor, Masthead, Etc.)

The Contemporary Tax Journal

No abstract provided.


The Contemporary Tax Journal Volume 5, No. 2 – Winter 2016, 2016 San Jose State University

The Contemporary Tax Journal Volume 5, No. 2 – Winter 2016

The Contemporary Tax Journal

No abstract provided.


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