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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 ...


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 ...


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 ...


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 ...


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 ...


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.


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.


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 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.


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 ...


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.


Relief For Taxpayers From The Federal Tax Lien, T. Fogg 2010 Villanova Law School

Relief For Taxpayers From The Federal Tax Lien, T. Fogg

T. Keith Fogg

No abstract provided.


The Economics Of Section 170: A Case For The Charitable Deduction Of Parochial School Tuition, Meir Katz 2010 Georgetown University Law Center

The Economics Of Section 170: A Case For The Charitable Deduction Of Parochial School Tuition, Meir Katz

Meir Katz

That payments for parochial school tuition are not deductible under Section 170 of the Internal Revenue Code is a foregone conclusion in the eyes of many tax policy scholars. Tuition provides an easy case because the donor receives something of great value in return for his donation: the education of his children. This Article questions that conclusion. By taking a close look at the economics behind these tuition payments in the context of a discrete population, the religious Jewish community, I show that traditional economic assumptions are inappropriate for analysis of those payments. Rather than a traditional economic exchange for ...


Taxation And Business Planning For Real Estate Transactions, Bradley Borden 2010 Brooklyn Law School

Taxation And Business Planning For Real Estate Transactions, Bradley Borden

Bradley T. Borden

This book focuses on tax planning in the real estate context. To adequately provide tax-planning advice, attorneys must be familiar with the transactional tax attorney’s analytical process. Transactional tax attorneys must recognize opportunities for tax planning and address issues that such planning may raise. Recognizing opportunities and addressing issues generally require a thorough understanding of the transaction and the relevant law. Such knowledge often derives from legal research and an in-depth study of primary-source legal resources, such as statutes, cases, regulations, and rulings. Legal research generally begins with treatises or articles that address the questions relevant to the tax-planning ...


An "Outside Limit" For Refund Suits: The Case Against The Tax Exception To The Six-Year Bar On Claims Against The Government, Adam Gustafson 2010 Yale Law School

An "Outside Limit" For Refund Suits: The Case Against The Tax Exception To The Six-Year Bar On Claims Against The Government, Adam Gustafson

Adam R.F. Gustafson

Longstanding judicial precedent and the official position of the IRS agree that federal tax refund suits are limited only by the two-year statute of limitations of § 6532(a)(1) of the Internal Revenue Code, which is triggered only when the IRS mails the claimant a notice of disallowance. This Article contends that tax refund litigation is also governed by the six-year limitation of 28 U.S.C. § 2401(a) on “every civil action commenced against the United States,” which is triggered upon the accrual of a claim. The Supreme Court alluded to this dual-limitation scheme in 2008 in United States ...


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