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Nobody’S Stock Compares To Your Own: How Treasury Can Revive Stock Compensation In Cost-Sharing Agreements, Tyler Johnson 2017 Northwestern University School of Law

Nobody’S Stock Compares To Your Own: How Treasury Can Revive Stock Compensation In Cost-Sharing Agreements, Tyler Johnson

Northwestern University Law Review

In Altera Corp. v. Commissioner, the United States Tax Court invalidated a 2003 Treasury Regulation for failing to meet State Farm’s reasoned decisionmaking standard under the Administrative Procedure Act (APA). Invalidating this specific regulation eliminates one of the federal government’s latest attempts to limit income tax avoidance by some of the world’s largest and wealthiest corporations in the murky world of transfer pricing. This Note demonstrates that the Tax Court’s ruling must be limited to its specific APA holding and argues that Treasury may enact a similar regulation under the existing statutory and regulatory framework of ...


Problems With Destination-Based Corporate Taxes And The Ryan Blueprint, Reuven S. Avi-Yonah, Kimberly Clausing 2017 University of Michigan Law School

Problems With Destination-Based Corporate Taxes And The Ryan Blueprint, Reuven S. Avi-Yonah, Kimberly Clausing

Articles

With the election of Donald Trump and the Republican Party’s domination of Congress, House Speaker Paul Ryan’s blueprint for fundamental tax reform requires more careful analysis. The Ryan blueprint combines reduced individual rates with a destination-based cash flow type business tax applicable to all businesses. The destination-based business tax at the center of the blueprint has several major problems: It is incompatible with our WTO obligations, it is incompatible with our tax treaties, and it will not eliminate the problems of income shifting and inversions it is designed to address. In addition, these proposals generate vexing technical problems ...


Utilitarianism And Wealth Transfer Taxation, Jennifer Bird-Pollan 2017 University of Kentucky

Utilitarianism And Wealth Transfer Taxation, Jennifer Bird-Pollan

Arkansas Law Review

This article is the third in a series examining the continued relevance and philosophical legitimacy of the United States wealth transfer tax system from within a particular philosophical perspective. The article examines the utilitarianism of John Stuart Mill and his philosophical progeny and distinguishes the philosophical approach of utilitarianism from contemporary welfare economics, primarily on the basis of the concept of “utility” in each approach. After explicating the utilitarian criteria for ethical action, the article goes on to think through what Mill’s utilitarianism says about the taxation of wealth and wealth transfers, the United States federal wealth transfer tax ...


Can Sharing Be Taxed?, Diane M. Ring, Shu-Yi Oei 2017 Boston College Law School

Can Sharing Be Taxed?, Diane M. Ring, Shu-Yi Oei

Diane M. Ring

In the past few years, we have seen the rise of a new model of production and consumption of goods and services, often referred to as the “sharing economy.” Fueled by startups such as Uber and Airbnb, sharing enables individuals to obtain rides, accommodations, and other goods and services from peers via personal computer or mobile application in exchange for payment. The rise of sharing has raised questions about how it should be regulated, including whether existing laws and regulations can and should be enforced in this new sector or whether new ones are needed.

In this Article, we explore ...


The Tax Lives Of Uber Drivers: Evidence From Online Forums, Diane M. Ring, Shu-Yi Oei 2017 Boston College Law School

The Tax Lives Of Uber Drivers: Evidence From Online Forums, Diane M. Ring, Shu-Yi Oei

Diane M. Ring

In this Article, we investigate the tax issues and challenges facing Uber and Lyft drivers by studying their online interactions in three internet discussion forums: Reddit.com, Uberpeople.net, and Intuit TurboTax AnswerXchange. Using descriptive statistics and content analysis, we examine (1) the substantive tax concerns facing forum participants, (2) how taxes affect their driving and profitability decisions, and (3) the degree of user sophistication, accuracy of legal advising, and other cultural features of the forums.

We find that while forum participants displayed generally accurate understandings of tax filing and income inclusion obligations, their approaches to expenses and deductions were ...


How May The United States Leverage Fatca To Incentivize Good Tax Administrations Among The World Of Black Hat And Grey Hat Governments?, William H. Byrnes 2017 Texas A&M University School of Law

How May The United States Leverage Fatca To Incentivize Good Tax Administrations Among The World Of Black Hat And Grey Hat Governments?, William H. Byrnes

William H. Byrnes

This Essay serves as a preliminary narrative to examine the serious challenge of Control Firsters’ vision that every jurisdiction should have complete information on all transactions by any taxpayer. The world has many, potentially a majority, of grey hat and black hat governments and tax administrations. One measure of which governments fall into these categories is Transparency International’s corruption index. Of 167 countries ranked by Transparency International for breadth of corruption from one hundred (very clean) to zero (highly corrupt/failed state), only fifty countries ranked above a score of fifty, and only twelve scored above eighty. A question ...


Foreword—King V. Burwell Symposium: Comments On The Commentaries (And On Some Elephants In The Room), David Gamage 2017 Selected Works

Foreword—King V. Burwell Symposium: Comments On The Commentaries (And On Some Elephants In The Room), David Gamage

David Gamage

As an introduction to the Symposium, this invited response essay reviews the pieces submitted for the Pepperdine Law Review symposium on the King v. Burwell case. The thrust of this essay’s response commentary is to praise the submitted essays for their excellence and insightfulness, but to suggest that the submitted essays nonetheless might benefit from focusing more on the role of the political mobilization that resulted in the King v. Burwell dispute. Ultimately, this essay suggests that what may have motivated the Supreme Court to develop and apply its new “deep economic and political significance” test in this this ...


Avoiding Self-Employment Tax, Neil Harl 2017 Iowa State University

Avoiding Self-Employment Tax, Neil Harl

Neil E. Harl

Two recent private letter rulings issued about a month apart in late 1991 have provided additional guidance on the IRS national office position on two of the strategies used to avoid self-employment tax. In both rulings, the IRS position was adverse to the taxpayers.


Taft V. Bowers: The Foundation For Non-Recognition Provisions In The Income Tax, James R. Repetti 2017 Boston College Law School

Taft V. Bowers: The Foundation For Non-Recognition Provisions In The Income Tax, James R. Repetti

Boston College Law School Faculty Papers

Taft v. Bowers is a Supreme Court decision that is rarely studied in law schools or discussed by scholars. Yet, it is a case of vast significance. In the Taft decision, the Supreme Court confirmed that Congress may create non-recognition exceptions to the income tax that merely defer the recognition of income, rather than permanently exclude it. If the Taft case had been decided differently, it is likely that the number of non-recognition provisions in the Internal Revenue Code ("Code") would be significantly reduced.


Tax Cannibalization And Fiscal Federalism In The United States, David Gamage, Darien Shanske 2017 Northwestern University School of Law

Tax Cannibalization And Fiscal Federalism In The United States, David Gamage, Darien Shanske

Northwestern University Law Review

We began this project pondering a riddle. Most state governments have adopted what we—and many others—view as clearly suboptimal tax policies, especially in regard to the taxation of corporate income and capital gains. Yet, with the notable exception of those who oppose progressivity and the taxation of capital, state-level tax policymakers have had remarkably little appetite for reform. This Article provides one major explanation for this riddle by identifying and demonstrating a phenomenon that we label as “tax cannibalization.” We argue that flawed state-level tax policies derive in part from perverse incentives inadvertently created by the federal government.


Finding The Pearl In The Oyster: Supercharging Ipos Through Tax Receivable Agreements, Christopher B. Grady 2017 Northwestern University School of Law

Finding The Pearl In The Oyster: Supercharging Ipos Through Tax Receivable Agreements, Christopher B. Grady

Northwestern University Law Review

A new, “supercharged” form of IPO has slowly developed over the last twenty years. This new form of IPO takes advantage of several seemingly unrelated provisions of the tax code to multiply pre-IPO owners’ proceeds from a public offering without reducing the amount public investors are willing to pay for the stock. Supercharged IPOs use a tax receivable agreement to transfer tax assets created by the IPO back to the pre-IPO ownership, “monetizing” the tax assets. As these structures have become more efficient, commentators have expressed concerns that these agreements deceive shareholders who either ignore or do not understand the ...


Regulating Tax Return Preparation, Jay A. Soled, Kathleen DeLaney Thomas 2017 Rutgers University

Regulating Tax Return Preparation, Jay A. Soled, Kathleen Delaney Thomas

Boston College Law Review

Annually, the U.S. government collects nearly $3 trillion of income and employment taxes. With respect to these collections, Form 1040 (U.S. Individual Income Tax Return) seeks to ensure taxpayer accuracy. Currently, two sets of players dominate the Form 1040 preparation and submission process: tax return preparers and tax return preparation software companies. The former guides taxpayers through the entire tax return preparation and submission process, and the latter provides taxpayers with the necessary tools to complete and submit tax returns themselves. Tax return preparers and tax software companies thus stand as vital intermediaries between the government and taxpayers ...


Estate Of Purdue: A Blueprint For Flping, Phyllis C. Taite 2017 Florida A&M University College of Law

Estate Of Purdue: A Blueprint For Flping, Phyllis C. Taite

Journal Publications

In this article, Taite examines Estate of Purdue, in which the Tax Court held that assets of the decedent that were transferred to the family limited liability company were not includable in the gross estate, that transfers to the family trust qualified for an annual exclusion, and that the estate could deduct interest on loans from the estate’s beneficiaries.


Considering "Citizenship Taxation": In Defense Of Fatca, Young Ran Kim 2017 University of Utah, SJ Quinney College of Law

Considering "Citizenship Taxation": In Defense Of Fatca, Young Ran Kim

Utah Law Faculty Scholarship

Inspired by Ruth Mason’s recent article, Citizenship Taxation, which reaches a general conclusion against citizenship taxation, this Article also questions citizen taxation under the same normative framework, but with a particular focus on efficiency and administrability, and takes a much less critical stance towards the merits of citizenship taxation. First, neither citizenship taxation nor residence-based taxation can completely account for the differences between residents’ and nonresidents’ ability to pay taxes under the fairness argument. Second, the efficiency argument, that citizenship taxation may distort both Americans’ and non-Americans’ citizenship decisions, is not convincing. The American citizenship renunciation rate is not ...


The Definitions Of Income, John R. Brooks 2017 Georgetown University Law Center

The Definitions Of Income, John R. Brooks

Georgetown Law Faculty Publications and Other Works

What is income? It’s a seemingly simple question that’s surprisingly hard to answer. Income is the basis for assigning tax burdens, for distributing transfers, and for broader normative issues of inequality and justice. Yet we lack a shared conception of income, and a pure, rigorous definition of income is impossible. In this Article I review the intellectual history of the income concept among tax and fiscal theorists to show the difficulty of the problem, and also to show that some important debates about what’s proper under an income tax can be explained instead as arguments over competing ...


Donor Advised Funds: Charitable Spending Vehicles For 21st Century Philanthropy, Roger Colinvaux 2017 The Catholic University of America, Columbus School of Law

Donor Advised Funds: Charitable Spending Vehicles For 21st Century Philanthropy, Roger Colinvaux

Scholarly Articles and Other Contributions

The donor advised fund (DAF) is changing longstanding giving norms in United States philanthropy. DAF contributions now account for around 8.4% of giving by individuals in the U.S. Over half of those contributions go to national DAF sponsors that have relationships with large commercial investment firms like Fidelity, Vanguard, and Schwab. This Article seeks to advance the understanding of the donor advised fund and to address two of the main policy questions: whether to require a mandatory distribution of funds by DAFs and their sponsoring organizations and how to respond to the increased use of DAFs for noncash ...


The Importance Of A Participatory Charitable Giving Incentive, Roger Colinvaux 2017 The Catholic University of America, Columbus School of Law

The Importance Of A Participatory Charitable Giving Incentive, Roger Colinvaux

Scholarly Articles and Other Contributions

Leading tax reform proposals contemplate a charitable deduction claimed by just five percent of taxpayers. Such a limited deduction would fatally undermine the foundations of a giving incentive that has fostered an altruistic and pluralistic society through its broad-based participation and would seriously harm the charitable sector. Section 501(c)(3) would recede in importance as setting the standard for a public benefit organization. More gifts would go to private benefit and political organizations. The article argues that a charitable deduction for the few should be rejected. Instead, Congress should consider expanding the charitable giving incentive by extending it to ...


Putting The Substance Back Into The Economic Substance Doctrine, Nicholas Giordano 2017 Brooklyn Law School

Putting The Substance Back Into The Economic Substance Doctrine, Nicholas Giordano

Brooklyn Journal of Corporate, Financial & Commercial Law

The foreign tax credit, which saves U.S. taxpayers from paying both foreign and domestic income taxes on the same income, is critical to facilitating global commerce. However, as savvy taxpayers discover increasingly complicated ways to abuse the foreign tax credit regime through the structuring of business transactions, courts have become increasingly skeptical of the validity of those transactions. Using the economic substance doctrine, a common law doctrine codified in 2010 at I.R.C. § 7701(o), courts will disallow tax benefits stemming from a transaction that is not profitable absent its tax benefits, and which the taxpayer had no ...


In Search Of Smarter Homeowner Subsidies, Matthew Rossman 2017 Case Western University School of Law

In Search Of Smarter Homeowner Subsidies, Matthew Rossman

Faculty Publications

Critics have long assailed the federal tax code’s homeowner subsidies as lucrative tax breaks for upper income households that are essentially worthless to lower income households financially constrained from purchasing a home. This article examines the subsidies through a different lens and reveals another serious flaw that has received little attention. It demonstrates how the homeowner subsidies do very little to contain the negative housing externalities that other federal policies seek to abate and, worse yet, probably undermine these policies by subsidizing behavior that exacerbates the externalities. These policies are wide-ranging and include: (i) combating blight, deterioration and public ...


Tax Treatment Of A Marijuana Business, Douglas A. Kahn, Howard Bromberg 2017 University of Michigan Law School

Tax Treatment Of A Marijuana Business, Douglas A. Kahn, Howard Bromberg

Articles

Currently, twenty-eight states and the District of Columbia allow the use of marijuana for medical purposes and permit the conduct of a business marketing of marijuana for that purpose. Eight of those states and the District of Columbia permit the recreational use of marijuana. There is reason to believe that more states will decriminalize the marketing of marijuana. However, marijuana is listed in Schedule 1 of the federal Controlled Substances Act of 1970 (CSA) which makes it illegal under federal law to manufacture or distribute marijuana even when it is legal to do so under local state law. In a ...


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