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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.


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 ...


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 ...


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 ...


For Tax Day, A Simpler And Better Way, David J. Herzig 2016 Valparaiso University

For Tax Day, A Simpler And Better Way, David J. Herzig

David J. Herzig

No abstract provided.


The Enigma Of Wynne, Edward A. Zelinsky 2016 College of William & Mary Law School

The Enigma Of Wynne, Edward A. Zelinsky

William & Mary Business Law Review

The five-justice Wynne majority used that case to make a major statement about the dormant Commerce Clause. In many respects, Wynne is an enigma that perpetuates an inherent problem of the Court’s dormant Commerce Clause doctrine: the Court declares some ill-defined taxes as unconstitutionally discriminatory because they encourage in-state investment, while other economically equivalent taxes and government programs that similarly encourage intrastate economic activity are apparently acceptable under the dormant Commerce Clause.

Wynne is thus more important than the immediate situation it addresses, and will have consequences beyond the immediate circumstances it addresses. A decision as enigmatic as it ...


Words Of Wisdom From The Founding Fathers: Why The Internal Revenue Service Should Let Churches Be, Sophia Benavides 2016 Pepperdine University

Words Of Wisdom From The Founding Fathers: Why The Internal Revenue Service Should Let Churches Be, Sophia Benavides

Journal of the National Association of Administrative Law Judiciary

Part I of this comment will explore the foundations of the First Amendment, as the Constitution is a framework on which the United States continues to rest. An examination of the events contributing and leading to the drafting of the Constitution will illuminate the rationale behind the tenets put forth by the Founding Fathers. More specifically, this comment will devote emphasis to the Founding Fathers’ objectives regarding the state in relation to religion. This emphasis will provide insight into the perspective of the Founders at the time of drafting the First Amendment. Furthermore, this section will illustrate how the separation ...


Location, Location, Location: Using Cost Of Living To Achieve Tax Equity, James M. Puckett 2016 Penn State Law

Location, Location, Location: Using Cost Of Living To Achieve Tax Equity, James M. Puckett

James Puckett

All other things being equal, the federal income tax ignores whether the taxpayer lives in a relatively affordable or expensive location. This approach can lead to unfairness; moreover, special deductions for the taxpayer’s actual living expenses, such as home mortgage interest and state and local taxes, do not solve the problem. Tax law scholars have generally been quick to dismiss the equity issues based on assumptions about taxpayer mobility. The existing literature would tax comparable workers equally, regardless of salary and living costs. This approach would unfairly equate differently situated workers. This Article questions the assumption of taxpayer mobility ...


Tax Treaties-Reciprocal Exchange Of Information-Summons Power Contained In Irc Section 7602 May Be Used To Obtain Information From Domestic Sources For Use By Canadian Authorities In Investigating The Canadian Tax Liability Of A Canadian Company, Tim J. Floyd 2016 University of Georgia School of Law

Tax Treaties-Reciprocal Exchange Of Information-Summons Power Contained In Irc Section 7602 May Be Used To Obtain Information From Domestic Sources For Use By Canadian Authorities In Investigating The Canadian Tax Liability Of A Canadian Company, Tim J. Floyd

Georgia Journal of International & Comparative Law

No abstract provided.


Simplexity: Plain Language And The Tax Law, Joshua D. Blank, Leigh Osofsky 2016 NYU School of Law

Simplexity: Plain Language And The Tax Law, Joshua D. Blank, Leigh Osofsky

New York University Law and Economics Working Papers

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 ...


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 ...


Transfer Pricing Challenges In The Cloud, Orly Mazur 2016 Southern Methodist University Dedman School of Law

Transfer Pricing Challenges In The Cloud, Orly Mazur

Boston College Law Review

Cloud computing has fundamentally changed how companies operate. Companies have quickly adapted by moving their businesses to the cloud, but international tax standards have failed to follow suit. As a result, taxpayers and tax administrations confront significant tax challenges in applying outdated tax principles to this new environment. One particular area that raises perplexing tax issues is the transfer pricing rules. The transfer pricing rules set forth the intercompany price a cloud service provider must charge an affiliate using its cloud services, which ultimately affects the determination of the jurisdiction in which the company’s profits are taxed. This Article ...


Bringing Continuity To Cryptocurrency: Commercial Law As A Guide To The Asset Categorization Of Bitcoin, Evan Hewitt 2016 Seattle University School of Law

Bringing Continuity To Cryptocurrency: Commercial Law As A Guide To The Asset Categorization Of Bitcoin, Evan Hewitt

Seattle University Law Review

This Note will undertake to analyze bitcoin under the Uniform Commercial Code (UCC) and the Internal Revenue Code (IRC)—two important sources of commercial law—to see whether any existing asset categories adequately protect bitcoin’s commercial viability. This Note will demonstrate that although commercial law dictates that bitcoin should—nay must—be regulated as a currency in order to sustain its existence, the very definition of currency seems to preclude that from happening. Therefore, this Note will recommend that we experiment with a new type of asset that receives currency-like treatment, specifically designed for cryptocurrencies, under which bitcoin can ...


Special Economic Zones In The United States: From Colonial Charters, To Foreign-Trade Zones, Toward Ussezs, Tom Bell 2016 Chapman University, Fowler School of Law

Special Economic Zones In The United States: From Colonial Charters, To Foreign-Trade Zones, Toward Ussezs, Tom Bell

Tom W. Bell

Special economic zones (SEZs) and the United States have a long and complicated relationship. The lineage of the United States runs back to proto-SEZs, created when Old World governments sold entrepreneurs charters to build for-profit colonies in the New World, such as Jamestown and New Amsterdam. In more recent times, though, the United States has lagged behind the rest of the world in tapping the potential of SEZs, which have exploded in number, types, territory, and population. True, the US hosts a large and growing number of Foreign-Trade Zones (FTZs), but these do little more than exempt select companies from ...


The Meaning Of Capital In The Twenty-First Century, Edward J. McCaffery 2016 University of Southern California;California Institute of Tecnology

The Meaning Of Capital In The Twenty-First Century, Edward J. Mccaffery

University of Southern California Legal Studies Working Paper Series

America is on a path towards a level of both wealth and income inequality unparalleled in recorded history. Thomas Piketty’s Capital in the Twenty-First Century summarizes and conveys the work of Piketty and many co-authors, over many decades, looking at the structure of income and wealth inequality across many nations and centuries. This review essay builds on Piketty’s ambitions as well as his data, in order to put forth a better solution: one that accepts and even embraces the facts of unequal ownership of capital, but changes the social meaning of those facts to avoid the social harms ...


Taxing Wealth Seriously, Edward J. McCaffery 2016 University of Southern California;California Institute of Tecnology

Taxing Wealth Seriously, Edward J. Mccaffery

University of Southern California Legal Studies Working Paper Series

The social and political problems of wealth inequality in America are severe and getting worse. A surprise is that the U.S. tax system, as is, is a significant cause of these problems, not a cure for them. The tax-law doctrines that allow those who already have financial wealth to live, luxuriously and tax-free, or to pass on their wealth tax-free to heirs, are simple. The applicable legal doctrines have been in place for nearly a century under the income tax, the primary social tool for addressing matters of economic inequality. The analytic pathways to reform are easy to see ...


Irs Developments And Examination Strategies, Aaron Grey 2016 San Jose State University

Irs Developments And Examination Strategies, Aaron Grey

The Contemporary Tax Journal

No abstract provided.


Analysis Of The Federal Estate Tax, Rachita Kothari 2016 San Jose State University

Analysis Of The Federal Estate Tax, Rachita Kothari

The Contemporary Tax Journal

No abstract provided.


Repeal The Alternative Minimum Tax, Branden Wilson 2016 San Jose State University

Repeal The Alternative Minimum Tax, Branden Wilson

The Contemporary Tax Journal

No abstract provided.


Cloud Activities And Issues Under Irc Sections 41 And 199, Marina Pinato 2016 San Jose State University

Cloud Activities And Issues Under Irc Sections 41 And 199, Marina Pinato

The Contemporary Tax Journal

No abstract provided.


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