Foreword—King V. Burwell Symposium: Comments On The Commentaries (And On Some Elephants In The Room), 2016 Pepperdine University
Foreword—King V. Burwell Symposium: Comments On The Commentaries (And On Some Elephants In The Room), David Gamage
Pepperdine Law Review
As an introduction to the Symposium, this invited response essay reviews the pieces submitted for the Pepperdine Law Review symposium on the King v. Burwell case. The thrust of this essay’s response commentary is to praise the submitted essays for their excellence and insightfulness, but to suggest that the submitted essays nonetheless might benefit from focusing more on the role of the political mobilization that resulted in the King v. Burwell dispute. Ultimately, this essay suggests that what may have motivated the Supreme Court to develop and apply its new “deep economic and political significance” test in this this ...
An Obituary Of The Federal Estate Tax, 2016 Florida International University College of Law
An Obituary Of The Federal Estate Tax, M Mirow, Bruce Mcgovern
M. C. Mirow
The authors adopt the genre of the obituary to discuss the development and present condition of the Federal Estate Tax. Using this form of descriptive narrative, the authors present a concise summary of the most important changes in the tax over the past eighty-five years.
Doma Implications For Employee Benefit Plans: Round 3, 150 Tax Notes 101 (2016), 2016 John Marshall Law School
Doma Implications For Employee Benefit Plans: Round 3, 150 Tax Notes 101 (2016), Kathryn Kennedy
Kathryn J. Kennedy
This article is the third in a series on the implications for employee benefit plans of the Supreme Court’s decisions on the constitutionality of the Defense of Marriage Act (DOMA) and state bans on same-sex marriage. In this article, Kennedy highlights the effect Obergefell v. Hodges will have on employee benefit plans.
Finishing The Job On Section 356(A)(2): Closing Loopholes And Providing Consistent Treatment To Boot In Tax-Free Reorganizations, 2016 Brigham Young University Law School
Finishing The Job On Section 356(A)(2): Closing Loopholes And Providing Consistent Treatment To Boot In Tax-Free Reorganizations
BYU Law Review
No abstract provided.
As American As Apple Inc.: Corporate Ownership And The Fight For Tax Reform, 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 Future Of American Tax Administration: Conceptual Alternatives And Political Realities, 2016 Florida State University College of Law
The Future Of American Tax Administration: Conceptual Alternatives And Political Realities, Steve R. Johnson
No abstract provided.
Full Circle? The Single Tax Principle, Beps, And The New Us Model, 2016 University of Michigan Law School
Full Circle? The Single Tax Principle, Beps, And The New Us Model, Reuven S. Avi-Yonah
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, 2016 University of Michigan Law School
Back To 1913?: The Ryan Blueprint And Its Problems, Reuven S. Avi-Yonah
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 ...
The Tax Provisions Denying A Deduction For Illegal Expenses And Expenses Of Illegal Businesses Should Be Repealed, 2016 University of Michigan Law School
The Tax Provisions Denying A Deduction For Illegal Expenses And Expenses Of Illegal Businesses Should Be Repealed, Douglas A. Kahn, Howard Bromberg
Currently, the tax law denies a deduction for business expenses that violate a federal or state law (but only if the state law is generally enforced). In addition, losses, including business losses, cannot be deducted if they arise out of an illegal activity. For example, medical expenses are denied a deduction if they are illegal. Kickbacks, bribes, and rebates given in connection with the Medicaid or Medicare program are nondeductible. Any expenses, legal or not, incurred in connection with the conduct of a business of selling a controlled substance that is prohibited by federal law (or by the law of ...
Purpose And Power Of The Group Tax Exemption In Health Care, 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 Declining Allure Of Being “American” And The Proliferation Of Corporate Tax Inversions: A Critical Analysis Of Regulatory Efforts To Curtail The Inversion Trend, 2016 Washington University School of Law
The Declining Allure Of Being “American” And The Proliferation Of Corporate Tax Inversions: A Critical Analysis Of Regulatory Efforts To Curtail The Inversion Trend, John C. Hamlett
Washington University Law Review
In the realm of tax policy, within which there is rarely broad-based consensus, there are few topics as polarizing as corporate tax inversions. An inversion is a paper transaction in which a US corporation reincorporates abroad to realize strategic tax benefits, without actually transplanting its operations overseas. These transactions necessarily reduce the US corporate income tax base, because although an inverted corporation is still taxed the same amount on income earned within the United States, it will no longer have to remit tax payments to the US Department of the Treasury (“Treasury”) for income earned abroad. This reduction in the ...
When International Tax Agreements Fail At Home: A U.S. Example, 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 ...
Valuation, Values, Norms: Proposals For Estate And Gift Tax Reform, 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 ...
The Target Method For Partnership Special Allocations And Why It Should Be Safe-Harbored, 2016 University of Maryland School of Law
The Target Method For Partnership Special Allocations And Why It Should Be Safe-Harbored, Daniel S. Goldberg
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 ...
Foreign Investors In U.S. Mutual Funds: The Trouble With Treaties, 2016 Fordham University School of Law
Foreign Investors In U.S. Mutual Funds: The Trouble With Treaties, Jeffrey M. Colon
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 ...
Irresponsibly Taxing Irresponsibility: The Individual Tax Penalty Under The Affordable Care Act, 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
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, 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
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 ...
The Tax Lives Of Uber Drivers: Evidence From Online Forums, 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 ...
Can Sharing Be Taxed?, 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 ...
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?, 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 ...