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The David R. Tillinghast Lecture: The Rising Tax-Electivity Of U.S. Corporate Residence, Daniel N. Shaviro 2010 NYU School of Law

The David R. Tillinghast Lecture: The Rising Tax-Electivity Of U.S. Corporate Residence, Daniel N. Shaviro

New York University Public Law and Legal Theory Working Papers

In an increasingly integrated global economy, with rising cross-border stock listings and share ownership, U.S. corporate residence for income tax purposes, which relies on one’s place of incorporation, may become increasingly elective for new equity. Existing equity in U.S. companies, however, is effectively trapped here, given the difficulty of expatriating for tax purposes absent a bona fide acquisition by new owners. Both the prospect of rising tax electivity for new equity and the very different situation facing old U.S. equity have important implications for U.S. international tax policy. This paper therefore explores three main questions ...


The Amt's Silver Lining, Brian D. Galle 2010 Boston College Law School

The Amt's Silver Lining, Brian D. Galle

Boston College Law School Faculty Papers

The federal Alternative Minimum Tax has potentially salutary – and heretofore unrecognized – effects that counteract pathologies of state budgets over the business cycle. A taxpayer’s AMT liability increases with income, and acts to eliminate federal tax subsidies for state revenue-raising. Thus, as a state’s income grows and the AMT hits more state residents, state spending becomes more expensive in flush times as the federal tax subsidy for state and local taxes is reduced. Conversely, when state fiscal health deteriorates, the federal tax subsidy grows as fewer state residents fall under the AMT, boosting taxpayer support for state spending. This ...


Pro & Con: Should Congress Adopt A New Tax Credit For Buying A Home? Yes: No Recovery Is Possible If Homeowners Lose Their Homes, Jessica D. Gabel 2010 Georgia State University College of Law

Pro & Con: Should Congress Adopt A New Tax Credit For Buying A Home? Yes: No Recovery Is Possible If Homeowners Lose Their Homes, Jessica D. Gabel

Faculty Publications By Year

No abstract provided.


Rethinking Foreign Tax Creditability, Daniel N. Shaviro 2010 NYU

Rethinking Foreign Tax Creditability, Daniel N. Shaviro

New York University Law and Economics Working Papers

International tax policy experts often mistakenly conflate two distinct margins: (1) the overall tax burden on outbound investment, and (2) the marginal reimbursement rate (MRR) for foreign taxes paid, which is 100 percent under a foreign tax credit system, but equals the marginal tax rate for foreign source income under an explicit or implicit deductibility system (such as exemption). From a unilateral national welfare standpoint, whatever the right answer at margin (1), deductibility is clearly optimal, and creditability dangerously over-generous, at margin (2).


Improper Taxation Of The Vowed Religious: How Glenshaw Glass Principles Can Reestablish Horizontal Equity, Samira Alić Omerović 2010 Boston College Law School

Improper Taxation Of The Vowed Religious: How Glenshaw Glass Principles Can Reestablish Horizontal Equity, Samira Alić Omerović

Boston College Law Review

The 1955 U.S. Supreme Court decision in Commissioner v. Glenshaw Glass Co. defined income as all “undeniable accessions to wealth, clearly realized, and over which the taxpayers have complete dominion.” In cases where members of religious orders assign all earnings to their orders pursuant to the vow of poverty, this definition has not played a role in the courts’ evaluation of proper tax treatment. Consequently, tax treatment of the members of these orders has violated the fundamental principle of horizontal equity, which states that similarly situated taxpayers should receive similar tax treatment. Instead, the Internal Revenue Service and three ...


Intermountain And The Growing Importance Of Administrative Law In Tax Law, Steve R. Johnson 2010 Florida State University College of Law

Intermountain And The Growing Importance Of Administrative Law In Tax Law, Steve R. Johnson

Scholarly Publications

On September 29, 2009, Treasury issued regulations retroactively extending the six-year limitations period for income tax deficiencies resulting from basis overstatements. In its May 6 Intermountain decision, the Tax Court unanimously invalidated those regulations, but on divided rationales. The government has appealed.

lntermountain is a must-read for tax academics and practitioners. It is among the richest decisions on the procedural and substantive validity of tax regulations. Moreover, the opinions in the case, subsequent cases on the issue, .and commentary on these opinions and cases present genuine opportunity for improvement of the law.

This report has five sections. Section I sketches ...


A Burden-Neutral Shift From Foreign Tax Creditability To Deductibility?, Kimberly A. Clausing, Daniel N. Shaviro 2010 Reed College - Department of Economics

A Burden-Neutral Shift From Foreign Tax Creditability To Deductibility?, Kimberly A. Clausing, Daniel N. Shaviro

New York University Law and Economics Working Papers

Observers of international tax rules have long conflated two distinct effects of the foreign tax credit on multinational firms: the effect on the incentive to invest abroad and the effect on foreign tax sensitivity. With national welfare as the policy objective, we discuss how a burden neutral shift from foreign tax credits to deductibility could be designed to improve distortions associated with insensitivity to foreign taxation without raising aggregate burdens on outward foreign investment. We also provide new evidence suggesting that the tax sensitivity of outward foreign direct investment is indeed reduced for OECD countries using foreign tax credits, in ...


Panelist, Max Planck Insitute For Taxation Advisory Board, Hugh Ault 2010 Boston College Law School

Panelist, Max Planck Insitute For Taxation Advisory Board, Hugh Ault

Hugh J. Ault

No abstract provided.


Morgens: More Qtip Mischief, Wendy G. Gerzog 2010 University of Baltimore School of Law

Morgens: More Qtip Mischief, Wendy G. Gerzog

All Faculty Scholarship

In Morgens, the court ruled in favor of the government that section 2035(b) applied to the gift taxes paid by the qualified terminable interest property (QTIP) trust beneficiaries to gross up the widow’s estate by that amount. Because the surviving (or donee) spouse must be taxed on the underlying property over which she has no ownership rights, Congress enacted section 2207A to allow the second spouse to recover from the beneficiaries of the property the transfer taxes relating to her gift or estate inclusion. However, the court held that section 2207A did not shift the gift tax liability ...


Transfer Pricing, Hugh Ault 2010 Boston College Law School

Transfer Pricing, Hugh Ault

Hugh J. Ault

Chaired meeting of 45 governmental and academic specialist


Delimitación Téorica Del Delito Penal Fiscal, Bruno L. Costantini García 2010 ITESM Campus Puebla

Delimitación Téorica Del Delito Penal Fiscal, Bruno L. Costantini García

Bruno L. Costantini García

Anális de los elementos constitutivos del delito fiscal, la acción delictiva, los grados de ejecución, la consumación y los responsables.

Pretende distinguir el delito penal común del delito penal fiscal con base en sus elementos y pretende aportar una reflexión de la criminalización del delito fiscal en nuestros tiempos, usado por la Autoridad Hacendaria como un medio de represíón y de opresión de los derechos del contribuyente.


Tax Court Invalidates New Section 6501(E) Regulations, Steve R. Johnson 2010 Florida State University College of Law

Tax Court Invalidates New Section 6501(E) Regulations, Steve R. Johnson

Scholarly Publications

The title of an article of mine in the Fall 2009 issue of the NewsQuarterly asked “What’s Next in the Section 6501(e) Overstated Basis Controversy?” The Tax Court answered that question on May 6, 2010, in its decision Intermountain Insurance Service of Vail, LLC v. Commissioner, 134 T.C. No. 11. In that decision, the court invalidated two temporary regulations that had been issued on September 24, 2009: sections 301.6229(c)(2)-IT and 301.6501(e)-IT.


Household Income Volatility And Tax Policy: Helping More And Hurting Less, Testimony Before The U.S. Joint Economic Committee, Lily L. Batchelder 2010 New York University

Household Income Volatility And Tax Policy: Helping More And Hurting Less, Testimony Before The U.S. Joint Economic Committee, Lily L. Batchelder

New York University Law and Economics Working Papers

This testimony makes three main points. First, income volatility, especially when it involves income declines, imposes significant hardships on American families. It heightens stress about finances and may increase household living expenses. These hardships are most pronounced for middle-and low-income families, whose incomes tend to be more volatile, and who tend to have less access to low-cost borrowing.

Second, currently the income tax system simultaneously helps and hurts families trying to cope with these burdens. It helps in that it softens annual income fluctuations on an after-tax basis by timing tax payments so that a larger share of a family ...


Taxation And The Financial Sector, Douglas A. Shackelford, Daniel N. Shaviro, Joel B. Slemrod 2010 University of North Carolina at Chapel Hill

Taxation And The Financial Sector, Douglas A. Shackelford, Daniel N. Shaviro, Joel B. Slemrod

New York University Law and Economics Working Papers

In the aftermath of the recent financial crisis, a variety of taxes on financial institutions have been proposed or enacted. These taxes’ justifications range from punishing those deemed to have caused or unduly profited from the crisis, to addressing the budgetary costs of the crisis, to better aligning banks’ and bank executives’ incentives in light of the broader social costs and benefits of their actions. Although there is a long-standing literature on corrective, or Pigouvian, taxation, most of it has been applied to environmental externalities, and the externalities that arise from the actions of financial institution are structurally different. This ...


Household Income Volatility And Tax Policy: Helping More And Hurting Less, Testimony Before The U.S. Joint Economic Committee, Lily L. Batchelder 2010 New York University

Household Income Volatility And Tax Policy: Helping More And Hurting Less, Testimony Before The U.S. Joint Economic Committee, Lily L. Batchelder

New York University Public Law and Legal Theory Working Papers

This testimony makes three main points. First, income volatility, especially when it involves income declines, imposes significant hardships on American families. It heightens stress about finances and may increase household living expenses. These hardships are most pronounced for middle-and low-income families, whose incomes tend to be more volatile, and who tend to have less access to low-cost borrowing.

Second, currently the income tax system simultaneously helps and hurts families trying to cope with these burdens. It helps in that it softens annual income fluctuations on an after-tax basis by timing tax payments so that a larger share of a family ...


Taxation And The Financial Sector, Douglas A. Shackelford, Daniel N. Shaviro, Joel B. Slemrod 2010 University of North Carolina at Chapel Hill

Taxation And The Financial Sector, Douglas A. Shackelford, Daniel N. Shaviro, Joel B. Slemrod

New York University Public Law and Legal Theory Working Papers

In the aftermath of the recent financial crisis, a variety of taxes on financial institutions have been proposed or enacted. These taxes’ justifications range from punishing those deemed to have caused or unduly profited from the crisis, to addressing the budgetary costs of the crisis, to better aligning banks’ and bank executives’ incentives in light of the broader social costs and benefits of their actions. Although there is a long-standing literature on corrective, or Pigouvian, taxation, most of it has been applied to environmental externalities, and the externalities that arise from the actions of financial institution are structurally different. This ...


La Globalización De La Legislación Cambiaria, Bruno L. Costantini García 2010 ITESM Campus Puebla

La Globalización De La Legislación Cambiaria, Bruno L. Costantini García

Bruno L. Costantini García

No abstract provided.


Hacia Un Marco Económico Del Impuesto A La Renta Empresarial, José Manuel Martin Coronado 2010 EMAE - Estudio Martin Abogados & Economistas

Hacia Un Marco Económico Del Impuesto A La Renta Empresarial, José Manuel Martin Coronado

José-Manuel Martin Coronado

El ámbito económico del Impuesto a la Renta Empresarial, y de los gastos deducibles para su determinación, puede dividirse en dos espacios: i) Espacio microeconómico y ii) Espacio macroeconómico. En la actualidad, la práctica del derecho tributario se encuentra frecuentemente vinculada con la contabilidad empresarial, por lo que los estudios contables y/o de abogados se encargan de resolver problemas contables-tributarios en la esfera empresarial que se encuentra subsumida en la esfera microeconómica. Por el contrario, en la esfera macroeconómica, por ejemplo, la política fiscal o tributaria de un Estado, es rara vez analizada por la práctica jurídica o contable ...


Protección De Datos Personales, Bruno L. Costantini García, Norma E. Pimentel Méndez 2010 ITESM Campus Puebla

Protección De Datos Personales, Bruno L. Costantini García, Norma E. Pimentel Méndez

Bruno L. Costantini García

Introducción a la regulación de la protección de datos personales en México.


Flp In The Black, Wendy G. Gerzog 2010 University of Baltimore School of Law

Flp In The Black, Wendy G. Gerzog

All Faculty Scholarship

In Estate of Black, because the Tax Court held the Blacks' transfers fell within the bona fide sales exception of section 2036, they were successful at avoiding the application of the provision. Thus, they were able to obtain valuation discounts for their transfers of property (mostly marketable securities) to their son and grandchildren. The court also decided the marital trust funding valuation date issue in the executor's favor and allowed almost half of the claimed administrative expense deductions.


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