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Question Of Purpose: Early Retirement Payments To Tenured Professors Constitute Wages Subject To Fica Taxation, Stephen Scott Wick 2010 Cleveland State University

Question Of Purpose: Early Retirement Payments To Tenured Professors Constitute Wages Subject To Fica Taxation, Stephen Scott Wick

Cleveland State Law Review

Currently, there is a circuit split on the issue of whether early retirement payments (ERPs) made to tenured faculty constitute wages subject to Federal Insurance Contribution Act (FICA) taxation. In North Dakota State University v. United States, the Eighth Circuit held that ERPs made to tenured faculty do not constitute FICA wages because such payments are made to purchase the constitutionally protected property interest that tenured faculty hold in their tenure rights. However, the Sixth and Third Circuits, in Appoloni v. United States and University of Pittsburgh v. United States respectively, held that such payments do constitute FICA wages because ...


Running From The United States Treasury: The Need To Reform The Taxation Of Multinational Corporations, 43 J. Marshall L. Rev. 1041 (2010), Jennifer Barton 2010 John Marshall Law School

Running From The United States Treasury: The Need To Reform The Taxation Of Multinational Corporations, 43 J. Marshall L. Rev. 1041 (2010), Jennifer Barton

The John Marshall Law Review

No abstract provided.


Comments: "Simplification" Is Not Enough: An Analysis Of The Home Office Tax Deduction And The Home Office Simplification Act Of 2009, Lauren Marini 2010 University of Baltimore School of Law

Comments: "Simplification" Is Not Enough: An Analysis Of The Home Office Tax Deduction And The Home Office Simplification Act Of 2009, Lauren Marini

University of Baltimore Law Review

No abstract provided.


When Canons Go To War In Indian Country, Guess Who Wins? Barrett V. United States: Tax Canons And Canons Of Construction In The Federal Taxation Of American Indians, John Lentz 2010 University of Oklahoma College of Law

When Canons Go To War In Indian Country, Guess Who Wins? Barrett V. United States: Tax Canons And Canons Of Construction In The Federal Taxation Of American Indians, John Lentz

American Indian Law Review

No abstract provided.


For The Love Of The Game: The Justification For Tax Exemption In Intercollegiate Athletics, 44 J. Marshall L. Rev. 179 (2010), Andrew D. Appleby 2010 John Marshall Law School

For The Love Of The Game: The Justification For Tax Exemption In Intercollegiate Athletics, 44 J. Marshall L. Rev. 179 (2010), Andrew D. Appleby

The John Marshall Law Review

No abstract provided.


Rethinking Tax Priorities: Marriage Neutrality, Children, And Contemporary Families, James M. Puckett 2010 Penn State Law

Rethinking Tax Priorities: Marriage Neutrality, Children, And Contemporary Families, James M. Puckett

Journal Articles

Tax scholarship has long struggled with whether married taxpayers should be taxed differently from unmarried taxpayers. Currently, married taxpayers are subject to different tax rates than unmarried taxpayers, and may file a joint tax return. A married couple may pay a higher or lower amount of tax than an unmarried couple with the same total income, and a single person generally pays more tax on a given income than a married couple with a single earner with the same income. These outcomes are difficult to reconcile with a commitment to income tax progressivity, which in theory requires that higher incomes ...


Taxed Structured Settlements, Gregg D. Polsky, Brant J. Hellwig 2010 University of South Carolina - Columbia

Taxed Structured Settlements, Gregg D. Polsky, Brant J. Hellwig

Boston College Law Review

Congress has granted a tax subsidy to physically injured tort plaintiffs who enter into structured settlements. The subsidy allows these plaintiffs to exempt the investment yield imbedded within the structured settlement from federal income taxation. The apparent purpose of the subsidy is to encourage physically injured plaintiffs to invest, rather than presently consume, their litigation recoveries. Although the statutory subsidy by its terms is available only to physically injured tort plaintiffs, a growing structured settlement industry now contends that the same tax benefit of yield exemption is available to plaintiffs’ lawyers and nonphysically injured tort plaintiffs under general, common-law tax ...


An Arm's Length Solution To The Shareholder Loan Tax Puzzle, Wayne M. Gazur 2010 University of Colorado Law School

An Arm's Length Solution To The Shareholder Loan Tax Puzzle, Wayne M. Gazur

Articles

No abstract provided.


E-Vat: An Electronically Collected Progressive Consumption Tax, Daniel S. Goldberg 2010 University of Maryland School of Law

E-Vat: An Electronically Collected Progressive Consumption Tax, Daniel S. Goldberg

Faculty Scholarship

This report proposes replacing the income tax with an electronic, progressive consumption tax that couples a credit-method VAT (modified for wages) with a progressive wage tax. I have called this proposal e-VAT (a convenient contraction for an electronic value added tax), because it is based on a business-level-credit VAT and can be collected automatically and electronically at the point of sale.

The essential advantage of e-VAT over the Hall-Rabushka flat tax is that e-VAT’s use of a credit VAT as its foundation facilitates automatic and electronic collection of the tax. A credit VAT lends itself to electronic monitoring and ...


Human Capital And Transfer Taxation, Kerry A. Ryan 2010 Saint Louis University School of Law

Human Capital And Transfer Taxation, Kerry A. Ryan

Oklahoma Law Review

No abstract provided.


A Comprehensive Theory Of Deal Structure: Understanding How Transactional Structure Creates Value, Michael S. Knoll, Daniel M. G. Raff 2010 University of Pennsylvania Law School

A Comprehensive Theory Of Deal Structure: Understanding How Transactional Structure Creates Value, Michael S. Knoll, Daniel M. G. Raff

Faculty Scholarship

No abstract provided.


London Calling: Does The U.K.'S Experience With Individual Taxation Clash With The U.S.'S Expectations, Stephanie McMahon 2010 University of Cincinnati College of Law

London Calling: Does The U.K.'S Experience With Individual Taxation Clash With The U.S.'S Expectations, Stephanie Mcmahon

Faculty Articles and Other Publications

The United States is one of the last countries to tax married couples jointly; most other countries have adopted individual taxation. In 1990, the United Kingdom completed transitioning its tax system from one that treated husbands and wives as a marital unit to one that mandates an individual-based system, and so it has two decades of experience with the new regime. This article provides American policymakers valuable information regarding the consequences of adopting individual taxation by examining the United Kingdom's experience. First, it establishes a matrix of factors that identifies and assesses differences between the two nations that affect ...


The Attack On Nonprofit Status: A Charitable Assessment, James R. Hines Jr., Jill R. Horwitz, Austin Nichols 2010 University of Michigan Law School

The Attack On Nonprofit Status: A Charitable Assessment, James R. Hines Jr., Jill R. Horwitz, Austin Nichols

Articles

American nonprofit organizations receive favorable tax treatment, including tax exemptions and tax-deductibility of contributions, in return for their devotion to charitable purposes and restrictions not to distribute profits. Recent efforts to extend some or all of these tax benefits to for-profit companies making social investments, including the creation of the new hybrid nonprofit/for-profit company form known as the Low-Profit Limited Liability Company, threaten to undermine the vitality of the nonprofit sector and the integrity of the tax system. Reform advocates maintain that the ability to compensate executives based on performance and to distribute profits when attractive investment opportunities are ...


Of Punitive Damages, Tax Deductions, And Tax-Aware Juries: A Response To Polsky And Markel, Lawrence A. Zelenak 2010 Duke Law School

Of Punitive Damages, Tax Deductions, And Tax-Aware Juries: A Response To Polsky And Markel, Lawrence A. Zelenak

Faculty Scholarship

In “Taxing Punitive Damages,” Gregg D. Polsky and Dan Markel argue that defendants paying punitive damages are under-punished relative to juries’ intentions, because tax-unaware juries do not take into account the fact that the deductibility of punitive damages significantly reduces defendants’ after-tax costs. They note that the Obama administration has proposed addressing the under-punishment problem by amending the Internal Revenue Code to disallow deductions for punitive damages (and for settlements paid on account of punitive damage claims). They conclude, however, that the proposal would be ineffective because defendants could avoid its impact by disguising nondeductible punitive damage settlements as deductible ...


Avoiding Misuse Of Donor Advised Funds, Michael J. Hussey 2010 Widener University

Avoiding Misuse Of Donor Advised Funds, Michael J. Hussey

Cleveland State Law Review

This Article presents a proposal for further modifying donor advised funds to retain most of their hallmark flexibility and ease of use while drawing them into line with other charitable giving vehicles that put contributed funds to use for active charitable purposes. This Article argues that using individual retirement accounts as an underlying legal model for donor advised funds will address Congress's concerns regarding the appropriateness of the income tax deductions for contributions to donor advised funds while allowing donor advised funds to retain much of their hallmark flexibility and ease of operation.


Where Credit Is Due: Advantages Of The Credit-Invoice Method For A Partial Replacement Vat, Itai Grinberg 2010 Georgetown University Law Center

Where Credit Is Due: Advantages Of The Credit-Invoice Method For A Partial Replacement Vat, Itai Grinberg

Georgetown Law Faculty Publications and Other Works

If a value-added tax (VAT) were chosen to supplement or replace some portion of the revenue from the income tax, a choice would likely be made between the credit-invoice method and the subtraction-method for calculating VAT liability. Credit-invoice method VATs and subtraction-method VATs are, at a conceptual level, very similar taxes. The key substantive difference between most subtraction-method VAT proposals and extant credit-invoice method VATs is that subtraction-method VAT proposals generally do not impose an invoice requirement. The invoice requirement substantially reduces tax avoidance opportunities in the VAT, and also ensures the ability to provide appropriate treatment for exports while ...


University Endowments: A (Surprisingly) Elusive Concept, Frances R. Hill 2010 University of Miami School of Law

University Endowments: A (Surprisingly) Elusive Concept, Frances R. Hill

Articles

Even as certain policy makers press for mandatory payouts from endowments, the concept of an endowment remains surprisingly elusive. In the absence of either operational concepts of endowments or well-established metrics for identifying and measuring endowments, public policy discussions proceed with an implicit model of an endowment as "money in waiting" that is not currently in use for exempt educational purposes. This Article suggests that endowments, however conceptualized or measured, are better understood as "money in use" even though it is not being distributed. It argues that most endowment money is currently in use for at least two purposes. The ...


Summary And Recommendations (Symposium On Designing A Federal Vat, Part I), Reuven S. Avi-Yonah 2010 University of Michigan Law School

Summary And Recommendations (Symposium On Designing A Federal Vat, Part I), Reuven S. Avi-Yonah

Articles

For the past thirty-five years, the debate on fundamental tax reform in the United States has centered on whether some type of consumption tax would replace all or part of the federal income tax. In my opinion, this debate has now been decided. Given recent budgetary developments and the impending eligibility of the baby boom generation for Social Security and Medicare, we cannot dispense with the revenue from the corporate and individual income tax. Moreover, we will need huge amounts of additional revenue, and most informed observers believe that the only plausible source for such revenues is a federal value-added ...


American Economic Development, Managerial Corporate Capitalism, And The Institutional Foundations Of The Modern Income Tax, Ajay K. Mehrotra 2010 Indiana University Maurer School of Law

American Economic Development, Managerial Corporate Capitalism, And The Institutional Foundations Of The Modern Income Tax, Ajay K. Mehrotra

Articles by Maurer Faculty

Histories of the modern American income tax have generally focused on the role that social and political forces have played in the development of a new tax system. This article seeks to move beyond the social and political determinants to examine the economic factors that facilitated the adoption of the modern, graduated income tax. Without marginalizing the importance of social and political factors, the central aim of this article is to make a modest contribution to the legal and political historiography of the U.S. income tax by highlighting how changing material economic conditions afforded social groups, political reformers, and ...


Much Uncertainty About Uncertain Tax Positions, Robert D. Probasco 2010 Texas A&M University School of Law

Much Uncertainty About Uncertain Tax Positions, Robert D. Probasco

Faculty Scholarship

The Internal Revenue Service (IRS) announced in January 2010 a new initiative to require certain businesses to report “uncertain tax positions” on a new schedule filed with their annual tax returns. Draft schedules and instructions issued in April 2010 clarified some of the mechanical aspects of the new requirement but left many open issues and questions. The IRS proposal built on requirements by the Financial Accounting Standards Board (FASB) in FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes (“FIN 48”). The standard requires companies, in their financial statements, to reserve some of the benefits from any position taken ...


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