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As American As Apple Inc.: Corporate Ownership And The Fight For Tax Reform, Penn Wharton PPI 2016 University of Pennsylvania

As American As Apple Inc.: Corporate Ownership And The Fight For Tax Reform, Penn Wharton Ppi

Penn Wharton Public Policy Initiative

Both supporters and critics of the current tax advantages enjoyed by U.S. multinational corporations (MNCs) bolster their arguments with appeals to patriotism: the MNCs and their political supporters argue that allowing inversions or other similar arrangements and instituting another tax holiday for “repatriating” overseas earnings are good for the American economy as a whole; opponents condemn these tax advantages as unpatriotic in depriving the U.S. of enormous sums of needed revenue. But where, precisely, is the “home” to which profits held offshore return? For many purposes, home is where the shareholders are. Determining ownership of U.S. MNCs ...


The Target Method For Partnership Special Allocations And Why It Should Be Safe-Harbored, Daniel S. Goldberg 2016 University of Maryland School of Law

The Target Method For Partnership Special Allocations And Why It Should Be Safe-Harbored, Daniel S. Goldberg

Faculty Scholarship

The Treasury Regulations’ concept of “substantial economic effect” is the holy grail of partnership special allocations. Special allocations that have substantial economic effect will come within a safe harbor in the regulations and have assurance that the allocations that are provided in the partnership agreement will be respected. In order for the allocations to come within the substantial economic effect safe harbor, the partnership must (1) maintain capital accounts in accordance with the Treasury Regulations’ standard; (2) provide for liquidation in accordance with capital accounts in all events; and (3) either (a) provide for a deficit restoration obligation (DRO) on ...


The Hidden Costs Of Cliff Effects In The Internal Revenue Code And Proposals For Change, Manoj Viswanathan 2016 UC Hastings College of the Law

The Hidden Costs Of Cliff Effects In The Internal Revenue Code And Proposals For Change, Manoj Viswanathan

Faculty Scholarship

Cliff effects in the Internal Revenue Code trigger a sudden increase of federal tax liability when some attribute of a taxpayer—most commonly income—exceeds a particular threshold value. As a result, two taxpayers in nearly identical economic situations can face considerably different tax liabilities depending on which side of the triggering criterion they fall. The magnitude of the equity and efficiency costs associated with cliff effects is significant: cliff effects are attached to tax provisions amounting to hundreds of billions of dollars, the majority of which are targeted at low- and moderate-income taxpayers. Cliff effects have received little attention ...


Valuation, Values, Norms: Proposals For Estate And Gift Tax Reform, Bridget J. Crawford 2016 Elisabeth Haub School of Law

Valuation, Values, Norms: Proposals For Estate And Gift Tax Reform, Bridget J. Crawford

Pace Law Faculty Publications

In their contributions to this Symposium, Professor Joseph Dodge, Professor Wendy Gerzog, and Professor Kerry Ryan offer concrete proposals for improving the existing estate and gift tax system. Professor Dodge and Professor Gerzog are especially interested in accuracy in valuation, and advance specific proposals with respect to split-interest transfers and family limited partnerships. Professor Dodge makes an additional proposal to improve the generation-skipping transfer tax system, an understudied area of the law. Professor Gerzog's Symposium contribution draws particular attention to the legal fiction on which the estate and gift tax marital deductions rely. She would restrict the availability of ...


Foreign Investors In U.S. Mutual Funds: The Trouble With Treaties, Jeffrey M. Colon 2016 Fordham University School of Law

Foreign Investors In U.S. Mutual Funds: The Trouble With Treaties, Jeffrey M. Colon

Faculty Scholarship

The United States is generally a tax haven for foreign portfolio investors: the United States exempts from tax most U.S. source interest and capital gains, but taxes dividends from U.S. companies; tax treaties generally eliminate U.S. tax on interest and reduce the 30% statutory rate on dividends. Foreign investors in U.S. mutual funds have not been treated as favorably. Fund distributions (other than of net capital gains) were originally treated as taxable dividends, regardless of the fund’s underlying income. Interest or short-term capital gains earned by the mutual fund — which would have been tax exempt ...


The Future Of American Tax Administration: Conceptual Alternatives And Political Realities, Steve R. Johnson 2016 Florida State University College of Law

The Future Of American Tax Administration: Conceptual Alternatives And Political Realities, Steve R. Johnson

Scholarly Publications

No abstract provided.


Full Circle? The Single Tax Principle, Beps, And The New Us Model, Reuven S. Avi-Yonah 2016 University of Michigan Law School

Full Circle? The Single Tax Principle, Beps, And The New Us Model, Reuven S. Avi-Yonah

Articles

This paper will argue that while there is some innovation in BEPS, it is in fact more of a continuation that a sharp break with the past. Like Alexis de Tocqueville’s French Revolution, BEPS represents both continuity and change. In particular, the single tax principle has formed the theoretical basis of much of the international tax regime from the beginning. And it is in fact this continuity rather than any sharp change that gives the final BEPS package its promise to, as Secretary General Gurria also promised, “put an end to double non-taxation.”


Back To 1913?: The Ryan Blueprint And Its Problems, Reuven S. Avi-Yonah 2016 University of Michigan Law School

Back To 1913?: The Ryan Blueprint And Its Problems, Reuven S. Avi-Yonah

Articles

From the Revolutionary War to the late 19th century, the federal government was financed primarily through regressive tariffs on imported goods. The exception was the income tax enacted during the national emergency of the Civil War, which was allowed to expire in 1872. The rise of an industrial economy in the post- Civil War era led to significant increases in inequality, which the tariffs exacerbated by falling primarily on the working class. ‘‘Robber barons’’ like J.P. Morgan, Andrew Carnegie, and John D. Rockefeller did not consume most of their income, and their intangible wealth avoided state-level personal property taxes ...


Irresponsibly Taxing Irresponsibility: The Individual Tax Penalty Under The Affordable Care Act, Francine J. Lipman, James Owens 2016 University of Nevada, Las Vegas -- William S. Boyd School of Law

Irresponsibly Taxing Irresponsibility: The Individual Tax Penalty Under The Affordable Care Act, Francine J. Lipman, James Owens

Scholarly Works

In recent decades, Congress has used the federal income tax system increasingly to administer and deliver social benefits. This transition is consistent with the evolution of the American welfare system into workfare over the last several decades. As more and more social welfare benefits are conditioned upon work, family composition, and means-tested by income levels, the income tax system where this data is already systematically aggregated, authenticated, and processed has become the go-to administrative agency.

Nevertheless, as the National Taxpayer Advocate Nina Olson has noted there are “substantial differences between benefits agencies and enforcement agencies in terms of culture, mindset ...


Reconciling The Premium Tax Credit: Painful Complications For Lower And Middle-Income Taxpayers, Francine J. Lipman, James E. Williamson 2016 University of Nevada, Las Vegas -- William S. Boyd School of Law

Reconciling The Premium Tax Credit: Painful Complications For Lower And Middle-Income Taxpayers, Francine J. Lipman, James E. Williamson

Scholarly Works

The Patient Protection and Affordable Care Act (ACA) makes available to certain middle and lower-income individuals a refundable tax credit, the Premium Tax Credit (PTC), designed to help them pay the premiums on their qualified health care plans. To achieve Congress’s goal of making health insurance affordable, the PTC is most often provided directly to an individual’s insurance provider each month in advance of actually claiming the PTC on the individual’s year-end annual tax return. Of the almost twelve million individuals who have enrolled in health insurance through the federal and state health exchanges in 2015, 85 ...


Can Sharing Be Taxed?, Diane M. Ring, Shu-Yi Oei 2016 Boston College Law School

Can Sharing Be Taxed?, Diane M. Ring, Shu-Yi Oei

Boston College Law School Faculty Papers

In the past few years, we have seen the rise of a new model of production and consumption of goods and services, often referred to as the “sharing economy.” Fueled by startups such as Uber and Airbnb, sharing enables individuals to obtain rides, accommodations, and other goods and services from peers via personal computer or mobile application in exchange for payment. The rise of sharing has raised questions about how it should be regulated, including whether existing laws and regulations can and should be enforced in this new sector or whether new ones are needed.

In this Article, we explore ...


The Future Of The Cadillac Tax, Kathryn L. Moore 2016 University of Kentucky

The Future Of The Cadillac Tax, Kathryn L. Moore

Law Faculty Scholarly Articles

The Affordable Care Act includes a 40 percent excise tax on high-cost employer-sponsored health care coverage. Often referred to as the “Cadillac tax,” this excise tax is one of the most controversial elements of the Affordable Care Act.

Currently scheduled to go into effect in 2020, the Cadillac tax poses serious challenges and uncertainty for employers. On the one hand, recent estimates suggest that the Cadillac tax may hit as many as 20 percent of employers with health care plans in 2020. On the other hand, there is a serious question as to whether the tax will be repealed before ...


Tax Planning And Policy Drift, Sloan G. Speck 2016 University of Colorado Law School

Tax Planning And Policy Drift, Sloan G. Speck

Articles

This Article proposes a framework for analyzing how private-sector legal interpretations influence public policy. Political scientists and legal scholars use the terms “bureaucratic drift” and “legislative drift” to describe how administrative agencies and future legislative coalitions affect public policy enacted by Congress. This Article identifies a third category of policy drift: “planning drift.” Planning drift describes deviations from an enacting legislature’s policy preferences that result from private experts’ interpretations of existing law. After Congress enacts a statute, the first people to interpret and apply the new legislation generally are not regulators or judges, but instead are private experts, such ...


The Social Boundaries Of Corporate Taxation, Sloan G. Speck 2016 University of Colorado Law School

The Social Boundaries Of Corporate Taxation, Sloan G. Speck

Articles

Historically, the tax law distinction between corporate and conduit treatment drew primarily on doctrinal understandings, treating state-law corporations as corporate for tax purposes and classifying unincorporated legal entities based on their resemblance to conventional state-law corporations. More recently, commentators and Treasury have abandoned these doctrinal touchstones in favor of efficiency, broadly construed, as the guiding principle in determining an entity’s tax classification. This Article argues that, while important, efficiency considerations should not function as the sole arbiter of the boundary between corporate and conduit tax treatment. First, classical corporate taxation is, in many ways, deeply embedded within a larger ...


It Saves To Be Healthy: Using The Tax Code To Incentivize Employer-Provided Wellness Benefits, Hilary R. Shepherd 2016 Indiana University Maurer School of Law

It Saves To Be Healthy: Using The Tax Code To Incentivize Employer-Provided Wellness Benefits, Hilary R. Shepherd

Indiana Law Journal

With lifestyle-related disease on the rise and an increasing number of employers being held responsible for providing health insurance to their employees, we as a society have incentives to promote wellness, even if only to cut health care costs. Part I of this Note outlines a brief history of employer-provided wellness benefits and provides a concise summary of the employer-provided wellness benefits available. Part II analyzes the relevant federal income tax law, specifically, the fringe benefits provision of the Internal Revenue Code, and concludes that under existing tax law, on-premises gym facilities do not yield any taxable income to employees ...


When International Tax Agreements Fail At Home: A U.S. Example, Diane Ring 2016 Brooklyn Law School

When International Tax Agreements Fail At Home: A U.S. Example, Diane Ring

Brooklyn Journal of International Law

Over the past two and a half years, the international tax community has focused on the Base Erosion and Profit Shifting Project (BEPS project) undertaken by the Organisation for Economic Co-operation and Development (OECD) at the behest of the G20. According to the OECD, the resulting 2015 agreement involved the direct participation of more than sixty countries. An additional fifty-nine countries indirectly participated through regional dialogues. Furthermore, numerous international organizations are credited with participating in discussions and contributing to the resulting product. But, effective implementation of the BEPS agreement requires domestic action of various types—the domestic side of international ...


Purpose And Power Of The Group Tax Exemption In Health Care, Marie Yascko-Rosado 2016 University of Richmond

Purpose And Power Of The Group Tax Exemption In Health Care, Marie Yascko-Rosado

Richmond Journal of Global Law & Business

This article argues that the group tax exemption and consolidated group returns provide immense assistance to nonprofit healthcare organizations, because of simplicity, financial benefits and efficiency benefits. Part III will discuss what it means to be a tax-exempt entity and the legal basis for its existence, the historical basis of the exemption and its various rationales including relief of government burden, subsidy and income measurement theories. Part IV will explain the tax-exempt status in health care, the effects of the Affordable Care Act on the uninsured population, and key differences between for-profit entities and non-profit entities. Part V will both ...


The Tax Lives Of Uber Drivers: Evidence From Online Forums, Diane M. Ring, Shu-Yi Oei 2016 Boston College Law School

The Tax Lives Of Uber Drivers: Evidence From Online Forums, Diane M. Ring, Shu-Yi Oei

Boston College Law School Faculty Papers

In this Article, we investigate the tax issues and challenges facing Uber and Lyft drivers by studying their online interactions in three internet discussion forums: Reddit.com, Uberpeople.net, and Intuit TurboTax AnswerXchange. Using descriptive statistics and content analysis, we examine (1) the substantive tax concerns facing forum participants, (2) how taxes affect their driving and profitability decisions, and (3) the degree of user sophistication, accuracy of legal advising, and other cultural features of the forums.

We find that while forum participants displayed generally accurate understandings of tax filing and income inclusion obligations, their approaches to expenses and deductions were ...


Follow The Money: A Discussion Of The Organisation For Economic Co-Operation And Development’S Base Erosion And Profit Shifting Project: Has The Us Taken Steps To Adopt A Global Solution To This Worldwide Problem?, Claire Arritola 2016 University of Miami Law School

Follow The Money: A Discussion Of The Organisation For Economic Co-Operation And Development’S Base Erosion And Profit Shifting Project: Has The Us Taken Steps To Adopt A Global Solution To This Worldwide Problem?, Claire Arritola

University of Miami Business Law Review

This article looks at the recent actions taken by the Organisation for Economic Co-operation and Development (OECD) to prevent hybrid mismatches and tax base erosion. These actions have come in the form of the “Action Plan for Base Erosion and Profits” (BEPS). BEPS has spanned from 2013 to 2015 and has been the collaborative effort of representatives from 34 countries (with much help from the G-20 countries) as well as input from other non-member countries. Through this project, the OECD seeks to eradicate the problems caused by the current corporate tax structure and the tendency of countries to choose country-specific ...


Permitting Abused Spouses To Claim The Earned Income Tax Credit In Separate Returns, Fred B. Brown 2016 University of Baltimore School of Law

Permitting Abused Spouses To Claim The Earned Income Tax Credit In Separate Returns, Fred B. Brown

All Faculty Scholarship

The earned income tax credit (EITC) is a refundable tax credit for federal income tax purposes that is generally available to lowincome taxpayers who have income from either employment or selfemployment. The EITC is currently the largest government program providing aid to low-income individuals. The subsidy provided by the EITC is of particular importance to individuals subjected to domestic abuse, given that such individuals are often impoverished, and the EITC can provide them with the financial resources necessary to improve, endure, or leave an abusive relationship.

Despite the importance of the EITC, married individuals subjected to domestic abuse face serious ...


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