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A Tisket, A Tasket: Basketing And Corporate Tax Shelters, Leandra Lederman 2011 Indiana University Maurer School of Law

A Tisket, A Tasket: Basketing And Corporate Tax Shelters, Leandra Lederman

Articles by Maurer Faculty

In an income tax system that comported with the economic, or Haig-Simons, definition of income, deductible expenses would not face source-based limitations. A true Haig-Simons income tax system therefore would not take the schedular approach of sorting different types of expenses and losses into distinct conceptual “baskets” containing corresponding types of income. Practical realities often require departing from the Haig-Simons norm, however. The U.S. federal income tax system does require individuals to basket a number of types of expenses and losses. For example, individuals’ passive activity losses can only be deducted from passive income gains. By contrast, most corporations ...


Something From Nothing: Taxing Assets Accurately, David J. Herzig 2011 Valparaiso University School of Law

Something From Nothing: Taxing Assets Accurately, David J. Herzig

Law Faculty Publications

No abstract provided.


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.


Reconsidering International Tax Neutrality, Michael S. Knoll 2011 University of Pennsylvania Law School

Reconsidering International Tax Neutrality, Michael S. Knoll

Faculty Scholarship at Penn Law

For decades, U.S. international tax policy has shifted back and forth between territorial-source-exemption taxation and worldwide-residence-credit taxation. The former is generally associated with capital import neutrality (CIN) and the latter with capital export neutrality (CEN). One reason why national tax policy has shifted back and forth between those benchmarks is because it is widely accepted that a tax system cannot simultaneously satisfy both CEN and CIN unless tax rates on capital are harmonized across jurisdictions. In this essay, I argue that the international tax literature contains two different and conflicting definitions for CIN. Under one definition, which goes back ...


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 ...


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.


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.


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 ...


The Federalization Of Nonprofit Regulation And Its Discontents, James J. Fishman 2011 Pace University

The Federalization Of Nonprofit Regulation And Its Discontents, James J. Fishman

Kentucky Law Journal

No abstract provided.


The Federalization Of Nonprofit And Charity Law, Dana Brakman Reiser 2011 Brooklyn Law School

The Federalization Of Nonprofit And Charity Law, Dana Brakman Reiser

Kentucky Law Journal

No abstract provided.


Federal Regulation Of Nonprofit Board Independence: Focus On Independent Stakeholders As A "Middle Way", Benjamin Moses Leff 2011 American University

Federal Regulation Of Nonprofit Board Independence: Focus On Independent Stakeholders As A "Middle Way", Benjamin Moses Leff

Kentucky Law Journal

No abstract provided.


Choking Out Local Community Service Organizations: Rising Federal Tax Regulation And Its Impact On Small Nonprofit Entities, Nicole S. Dandridge 2011 Michigan State University

Choking Out Local Community Service Organizations: Rising Federal Tax Regulation And Its Impact On Small Nonprofit Entities, Nicole S. Dandridge

Kentucky Law Journal

No abstract provided.


Tefra-Partnership Refunds: Five Steps To Protect A Partner’S Rights, Mary A. McNulty, Robert D. Probasco, Carla C. Crapster 2011 Texas A&M University School of Law

Tefra-Partnership Refunds: Five Steps To Protect A Partner’S Rights, Mary A. Mcnulty, Robert D. Probasco, Carla C. Crapster

Faculty Scholarship

The Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) established a unified procedure for determining the tax treatment of partnership items at the partnership level rather than the partner level. The TEFRA-partnership refund procedures differ from the refund claim procedures that apply to other taxpayers. For a TEFRA partnership, a refund claim is an administrative adjustment request (AAF) and a notice of deficiency is a notice of final partnership administrative adjustment (FPAA). Procedures for the assessment of additional tax attributable to partnership items have received much attention in recent years, but the procedures concerning refunds are complex and full ...


The "Federalization" Problem And Nonprofit Self- Regulation: Some Initial Thoughts, Mark Sidel 2011 University of Iowa

The "Federalization" Problem And Nonprofit Self- Regulation: Some Initial Thoughts, Mark Sidel

Kentucky Law Journal

No abstract provided.


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 ...


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 ...


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 ...


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 ...


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 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 ...


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