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Recent Developments In Federal Income Taxation: The Year 2010, Martin J. McMahon Jr., Ira B. Shepard, Daniel L. Simmons 2011 University of Florida Levin College of Law

Recent Developments In Federal Income Taxation: The Year 2010, Martin J. Mcmahon Jr., Ira B. Shepard, Daniel L. Simmons

UF Law Faculty Publications

This recent developments outline discusses, and provides context to understand the significance of, the most important judicial decisions and administrative rulings and regulations promulgated by the Internal Revenue Service and Treasury Department during the year 2010--and sometimes a little farther back in time if we find the item particularly humorous or outrageous. Most Treasury Regulations, however, are so complex that they cannot be discussed in detail and, anyway, only a devout masochist would read them all the way through; just the basic topic and fundamental principles are highlighted--unless one of us decides to go nuts and spend several pages writing ...


The Stable American Mind: Understanding Attitudes Towards Government And Taxes, 1990-2011, Christopher P. Eldred 2011 Claremont McKenna College

The Stable American Mind: Understanding Attitudes Towards Government And Taxes, 1990-2011, Christopher P. Eldred

CMC Senior Theses

As the federal government seeks ways to stimulate our economy and reduce our national debt, understanding public attitudes on the role and size of government and the taxes that support it is important. This thesis evaluates how US public opinion towards government and taxes has changed from 1990 to the present, and analyzes several potential causes for changes that have occurred. It is intended to be an update of William G. Mayer’s 1992 book entitled The Changing American Mind, which analyzed changing public opinion from 1960-1988. In following his analysis, the causes I have analyzed are generational replacement, fiscal ...


Tax Expenditures, Reform, And Distributive Justice , Linda Sugin 2011 Fordham University School of Law

Tax Expenditures, Reform, And Distributive Justice , Linda Sugin

Faculty Scholarship

Tax reform is coming, and it will be an important part of any plan to avert national fiscal disaster. The President's Fiscal Commission recently presented a proposal for comprehensive tax reform that will form the basis for serious legislative discussion. At the center of that proposal is elimination of "tax expenditures, " which are provisions in the tax law that operate like direct government spending. They include the charitable deduction, the home mortgage interest deduction, the exclusion for employer provided health insurance, the child credit, the earned income credit, education credits and deductions, the tax preference for retirement savings accounts ...


Obama Tax Reforms Are Misguided, Constantine Katsoris 2011 Fordham University School of Law

Obama Tax Reforms Are Misguided, Constantine Katsoris

Faculty Scholarship

No abstract provided.


Income Tax Discrimination: Still Stuck In The Labyrinth Of Impossibility, Michael J. Graetz, Alvin C. Warren Jr. 2011 Columbia Law School

Income Tax Discrimination: Still Stuck In The Labyrinth Of Impossibility, Michael J. Graetz, Alvin C. Warren Jr.

Faculty Scholarship

In previous articles, we have argued that the European Court of Justice's reliance on nondiscrimination as the basis for its decisions did not (and could not) satisfy commonly accepted tax policy norms, such as fairness, administrability, economic efficiency, production of desired levels of revenues, avoidance of double taxation, fiscal policy goals, inter-nation equity, and so on. In addition, we argued that the court cannot achieve consistent and coherent results by requiring nondiscrimination in both origin and destination countries for transactions involving the tax systems of more than one member state. We demonstrated that -in the absence of harmonized income ...


Irs's Recent Uncertain Tax Positions Initiative: A Tangle Of Accounting, Tax And Privilege Issues, 9 Depaul Bus. & Comm. L.J. 401 (2011), Kathryn J. Kennedy 2011 John Marshall Law School

Irs's Recent Uncertain Tax Positions Initiative: A Tangle Of Accounting, Tax And Privilege Issues, 9 Depaul Bus. & Comm. L.J. 401 (2011), Kathryn J. Kennedy

Faculty Scholarship

Given the extremely limited source of resources available to the IRS in recent years, it's not surprising that it is exploring all sorts of avenues to increase its efficiency, particularly relying on corporate taxpayers to self report questionable tax positions. Under the banner of "corporate governance" and "transparency," the Service issued a series of proposals in 2010 requiring disclosure of uncertain tax positions ("UTPs") by corporate taxpayers. The Service essentially piggybacked on the recently imposed 2006 audit requirements that reserves be posted for contingent tax liabilities (i.e., tax positions that could later not be sustained, and therefore had ...


The Internal Revenue Code And Latino Realities: A Critical Perspective, Leo P. Martinez, Jennifer M. Martinez 2011 UC Hastings College of the Law

The Internal Revenue Code And Latino Realities: A Critical Perspective, Leo P. Martinez, Jennifer M. Martinez

Faculty Scholarship

No abstract provided.


Doing Too Much: The Standard Deduction And The Conflict Between Progressivity And Simplification, John R. Brooks 2011 Georgetown University Law Center

Doing Too Much: The Standard Deduction And The Conflict Between Progressivity And Simplification, John R. Brooks

Georgetown Law Faculty Publications and Other Works

In U.S. federal income tax, the standard deduction, along with the personal exemptions, provides taxpayers with a minimum amount of untaxed income, effectively creating a "zero bracket amount." For historical and political reasons, however, the standard deduction also operates as a simplified substitute for the itemized deductions, such as the deductions for extraordinary medical expenses, charitable contributions, and home mortgage interest. This seemingly reasonable compromise in fact leads to substantial, and surprising, conceptual complexity. In particular, close analysis of each of the two roles shows that their effects, and related criticisms, are often contradictory, which in turn makes it ...


The "Current Monthly Income" Debate: Unemployment Compensation As A "Benefit Received Under The Social Security Act"?, 44 J. Marshall L. Rev. 801 (2011), Brent Wilson 2011 John Marshall Law School

The "Current Monthly Income" Debate: Unemployment Compensation As A "Benefit Received Under The Social Security Act"?, 44 J. Marshall L. Rev. 801 (2011), Brent Wilson

The John Marshall Law Review

No abstract provided.


Constitutional Challenges To The Health Care Mandate: Based In Politics, Not Law, David Orentlicher 2011 University of Nevada, Las Vegas -- William S. Boyd School of Law

Constitutional Challenges To The Health Care Mandate: Based In Politics, Not Law, David Orentlicher

Scholarly Works

No abstract provided.


The Loophole That Would Not Die: A Case Study In The Difficulty Of Greening The Internal Revenue Code, Lawrence A. Zelenak 2011 Duke Law School

The Loophole That Would Not Die: A Case Study In The Difficulty Of Greening The Internal Revenue Code, Lawrence A. Zelenak

Faculty Scholarship

Congress and the Treasury have commissioned the National Academy of Sciences (NAS) “to undertake a comprehensive review of the Internal Revenue Code of 1986 to identify the types of and specific tax provisions that have the largest effects on carbon and other greenhouse gas emissions and to estimate the magnitude of those effects.” The hope of the proponents of the NAS carbon audit is that Congress, once informed of the results of the audit, will respond by “greening” the Internal Revenue Code. This Essay cautions that a more environmentally friendly Code will not necessarily follow from the legislative consciousness-raising of ...


Using Payroll Deduction To Shelter Individual Health Insurance From Income Tax, David Orentlicher 2011 University of Nevada, Las Vegas -- William S. Boyd School of Law

Using Payroll Deduction To Shelter Individual Health Insurance From Income Tax, David Orentlicher

Scholarly Works

In this article, Professor Orentlicher and his colleagues assess the impact of state laws requiring or encouraging employers to establish ‘‘section 125’’ cafeteria plans that shelter employees’ premium contributions from tax.


Formulary Apportionment: Myths And Prospects - Promoting Better International Policy And Utilizing The Misunderstood And Under-Theorized Formulary Alternative, Reuven S. Avi-Yonah, Ilan Benshalom 2011 University of Michigan Law School

Formulary Apportionment: Myths And Prospects - Promoting Better International Policy And Utilizing The Misunderstood And Under-Theorized Formulary Alternative, Reuven S. Avi-Yonah, Ilan Benshalom

Articles

This article seeks to re-examine the formulary alternative to transfer pricing by inquiring whether partial integration of formulary concepts into current practices would offer a reasonable alternative to transfer pricing rules. We believe that the key to achieving an equitable and efficient allocation of MNE income is to solve the problem of the residual, i.e., how to allocate income generated from mobile assets and activities whose risks are borne collectively by the entire MNE group. These assets and activities generate most of the current transfer pricing compliance and administrative costs, as well as tax avoidance opportunities. A limited formulary ...


Exclusion From Income Of Compensation For Services And Pooling Of Labor Occurring In A Noncommercial Setting, Douglas A. Kahn 2011 University of Michigan Law School

Exclusion From Income Of Compensation For Services And Pooling Of Labor Occurring In A Noncommercial Setting, Douglas A. Kahn

Articles

When cash is received for services, it typically will constitute gross income to the recipient.' But what if the payments are made in a noncommercial setting such as the payment by a parent to a child for mowing the lawn or performing household chores? As discussed later in this Essay, there are reasons to conclude that such payments do not constitute income. The problem of how to treat receipts from a noncommercial activity frequently arises in the context of an exchange of services. A similar problem arises when services are provided by several persons pursuant to a pooling of labor ...


The Case For Dividend Deduction, Reuven S. Avi-Yonah, Amir C. Chenchinski 2011 University of Michigan Law School

The Case For Dividend Deduction, Reuven S. Avi-Yonah, Amir C. Chenchinski

Articles

The December 2010 compromise between President Barack Obama and the Republicans extended the 15% tax rate on dividends through the end of 2012. At that point, however, the rate may revert to the Clinton administration rate-39.6%-or be raised to 20%-as proposed by the Obama Administration. Thus, the United States may either abandon corporate-shareholder integration, maintain partial integration, or perhaps even adopt the George W Bush administration's 2003 proposal to exempt dividends altogether-as advocated by some Republicans in Congress. Given this uncertainty and the likelihood of additional Congressional action, now may be a good time to revisit ...


Narrowing The Tax Gap Through Presumptive Taxation, Kyle D. Logue, Gustavo G. Vettori 2011 University of Michigan Law School

Narrowing The Tax Gap Through Presumptive Taxation, Kyle D. Logue, Gustavo G. Vettori

Articles

Can the United States government significantly reduce the federal tax gap? This question has attracted a great deal of scholarly attention over the years and has been the focus of numerous government reports. The "tax gap" is the official term for the Treasury Department's estimate of the difference between what American taxpayers should pay to the federal government in a given tax year (that is, the amount of tax they owe, based on a reasonable interpretation of existing tax laws as applied to particular taxpayers' circumstances) and what they actually pay. This estimate is derived from painstaking and detailed ...


U.S. Defense Contracts During The Tax Expenditure Battles Of The 1980s, Susan J. Guthrie, James R. Hines Jr. 2011 University of Michigan Law School

U.S. Defense Contracts During The Tax Expenditure Battles Of The 1980s, Susan J. Guthrie, James R. Hines Jr.

Articles

This paper considers the impact of the tax treatment of military contractors on the cost and timing of U.S. military procurement. Prior to the early 1980s, taxpayers were permitted to defer tax obligations on profits earned from long-term contracts. Legislation passed in 1982, 1986, and 1987 required that at least 70 percent of the profits earned on long-term contracts be taxed as accrued, thereby significantly reducing the tax benefits associated with long term contracting. Comparing contracts that were ineligible for these tax benefits with those that were eligible, it appears that between 1981–1989 the duration of U.S ...


Effectively Representing Your Client Before The Irs, 5th Edition, T. Keith Fogg, Editor-In-Chief, T. Fogg 2010 Villanova Law School

Effectively Representing Your Client Before The Irs, 5th Edition, T. Keith Fogg, Editor-In-Chief, T. Fogg

T. Keith Fogg

"Effectively Representing Your Client Before the IRS is a comprehensive collection of everything a tax professional should know when dealing with the IRS. Written by some of the most experienced tax controversy lawyers in the United States, it not only provides an in-depth discussion of the law, but is replete with realistic examples and hundreds of practice tips to aid tax practitioners during all stages of representation before the IRS in controversy matters, including exam, appeals, Tax Court, refund actions, and collection matters. The two-volume reference also includes a companion CD-ROM. No tax professional should be without Effectively Representing Your ...


Multiple-Entity Planning To Reduce Self-Employment Taxes: Recent Cases Demonstrate The Pitfalls And How To Avoid Them, Timothy Todd 2010 Liberty University

Multiple-Entity Planning To Reduce Self-Employment Taxes: Recent Cases Demonstrate The Pitfalls And How To Avoid Them, Timothy Todd

Timothy M. Todd

Tax practitioners use S corporations to mitigate self-employment taxes by classifying only a portion of entity distribution as wages and classifying the rest as dividends. This article analyzes recent cases where courts have invalidated attempts to lessen the burden of employment taxes by multiple-entity planning with the use of pass-through entities. This article focuses on two common practitioner flaws -- (1) deficiencies in salary setting procedures, and (2) deficiencies in multiple-entity planning. The article demonstrates the importance of setting a reasonable salary by documented procedures in S corporation taxation. The article also demonstrates how multiple-entity planning can be more effective by ...


Tax Collection: Procedure And Strategies, T. Fogg 2010 Villanova Law School

Tax Collection: Procedure And Strategies, T. Fogg

T. Keith Fogg

No abstract provided.


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