Taxation Commons^™

Property Or Currency? The Tax Dilemma Behind Bitcoin, Scott A. Wiseman

Utah Law Review

At Bitcoin’s peak in November 2013, there were 93,000 global transactions made in a single day. These users purchased everyday items such as personal services, food, and real estate. This alone suggests that Bitcoin is not primarily used as a long-term investment tool, but rather is used as a currency and a vehicle for global transactions. Congress and the IRS should regulate it accordingly. Representative Stockman’s Virtual Currency Reform Act offered an attempt to negate the IRS decision and officially classify Bitcoin and other virtual currencies as currency instead of property. A tax reclassification would alleviate typical users’ many inconveniences …

The Impact Of Increased Cigarette Prices On Cigarette Consumption, Bohyun Yoo

MPA/MPP/MPFM Capstone Projects

The objective of this study examines whether the way to raise cigarette prices drastically and discontinuously is effective in reducing cigarette consumption. We use monthly data for cigarette consumption to measure the price elasticity of cigarettes’ demand and adopt real cigarette prices, real individual income, education level, and unemployment rate as independent variables. We consider how consumers adjust their consumption practices in response to the increased prices. After examining the result of regression, we conclude that cigarette real price has a significant association with the reduction in cigarette consumption. If we divide the last twelve years into periods when prices …

Liberating Trapped Cash: A Case Study Of Trapped Cash At Apple And Microsoft, Russell P. Engel, Bridget M. Lyons, Danny A. Pannese

WCBT Faculty Publications

The topic of trapped cash, or cash permanently reinvested overseas to avoid tax upon repatriation, has become a hot topic in accounting, finance and policy circles over the past two years. This case study analyzes the activities of two major technology firms, Microsoft and Apple, to liberate enormous holdings of trapped cash. The case prompts a discussion of the topic of trapped cash, stakeholder considerations and tools available to manage cash balances held outside the United States. The focus is to examine the strategies available and those selected by Microsoft and Apple to meet or at least appease stakeholder demands …

The Benefits Of Having A Comprehensive Financial Plan For The Average Consumer, And The Necessary Components Comprised To Make An Effective And Efficient Plan, Nicholas M. Lund

CMC Senior Theses

Socioeconomic changes in American society over the past few decades, as well as an overwhelming amount of uncertainty and misconceptions, have resulted in a majority of Americans to fall short of their financial goals in the short-term, the mid-term, and the long-term. Without proper preparation and financial planning, it is likely that these Americans, and many more, will be unable to reach these goals as well as retire comfortably. Many Americans are overwhelmed with the immense amount of financial information, tools and resources, and as a consequence are unable to plan their finances efficiently and effectively. Americans need a better …

Decision Making In Corporate Taxation, Bonnie Brown

Electronic Theses and Dissertations

This dissertation is comprised of three experimental studies that examine corporate tax aggressiveness through an investigation of judgment and decision making in the corporate tax environment. Studies 1 and 2 examine individual judgment involved in decision making (i.e., assessments of tax positions based upon tax scenario facts and tax authority). Study 1 examines how advice from external tax advisors and a tax advisor's association with the company's audit firm influences the aggressiveness of experienced in-house corporate tax decision makers. Study 2 examines how situational factors in the corporate tax environment interact with individual traits to affect individual-level tax aggressiveness, focusing …

The Abuse Of Foreign Income Tax Credit, Janki P. Patel

Honors College Theses

This analytical study examines the abuse of foreign income tax credit with the provided data from 1996 – 2011. There are various ways to categorize the foreign tax credit, yet this study examines the foreign tax credit taken in various geographic regions. Additionally, it also analyzes the individual foreign tax credit claimed and corporate tax credit claimed to conclude on which unit abuses the credit utmost.

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

Faculty Scholarship

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 …

Benefit-Cost Analysis And Distributional Weights: An Overview, Matthew D. Adler

Faculty Scholarship

Standard cost-benefit analysis (CBA) is insensitive to distributional concerns. A policy that improves the lives of the rich, and makes the poor yet worse off, will be approved by CBA as long as the policy’s aggregate monetized benefits are positive. Distributional weights offer an apparent solution to this troubling feature of the CBA methodology: adjust costs and benefits with weighting factors that are inversely proportional to the well-being levels (as determined by income and also perhaps non-income attributes such as health) of the affected individuals.

Indeed, an academic literature dating from the 1950s discusses how to specify distributional weights. And …

Foreign Account Tax Compliance Act: The Most Revolutionary Piece Of Tax Legislation Since The Introduction Of The Income Tax, Alexander Szwakob

Honors Scholar Theses

With taxation of income being the most significant source of revenue, most national governments consider tax evasion prevention to be one of the priorities of their tax agencies. In the United States, tax evasion has been a significant concern of the Internal Revenue Service ever since the modern income tax was instituted with the passing of the Sixteenth Amendment in 1913. Over the following century, Congress enacted numerous measures aimed at curbing the illegal practice, but, as often is the case, both individuals and institutions desiring to not abide by the law found new ways to outsmart the tax authorities. …

Academy Of Accounting Historians Business Meeting At The 2015 Annual Conference Of The American Accounting Association. Minutes, Stephanie D. Moussalli

Accounting Historians Notebook

At the 2015 Annual Conference of the American Accounting Association Hyatt Regency Hotel, Chicago, IL, West Tower/Bronze Level/Water Tower Rm Sunday, August 9, 2015 7:00 PM to 8:00 PM

Mississippi Spurs Tax History Research, Andrew D. Sharp

Accounting Historians Notebook

This study found no linkage in Vicksburg, Natchez and Mobile between the jib window architectural feature and property tax avoidance during the antebellum period. Jib windows were not utilized to avoid a tax on the number of doors.

Sarah A. Holmes Awarded Life Membership

Accounting Historians Notebook

The Academy was honored to name Sarah A. Holmes a Life Member of the Academy for her extensive involvement with the Academy, her successful career and her support of accounting history research.

Alan Sangster Receives 2015 Hourglass Award

Accounting Historians Notebook

Alan Sangster is Professor of Accounting Education at Griffith University, Australia and a visiting professor at the University of Minho, Portugal. He is a qualified chartered accountant and holds a bachelor degree in business studies, a master degree in operational research, and a doctorate in accounting education.

Zeff And Camfferman Publish New Book On Formation Of International Accounting Standards

Accounting Historians Notebook

From 2001 to 2011, the International Accounting Standards Board (IASB) and its International Financial Reporting Standards (IFRS) acquired a central position in the practice and regulation of financial reporting around the world. A new book coauthored by Rice’s Stephen Zeff and Dutch accounting professor Kees Camfferman explores and chronicles the board’s rise to prominence, which has been accompanied by vivid political debates about its governance and accountability.

Academy Holds Annual Business Meeting And Ice Cream Social At The American Accounting Association Annual Meeting In Chicago

Accounting Historians Notebook

Photographs of meeting

Tonya K. Flesher Receives 2015 Thomas J. Burns Biographical Research Award

Accounting Historians Notebook

Tonya K. Flesher is the A thur Andersen Professor of Accountancy in the Patterson School of Accountancy at the University of Mississippi. She is a past president of the Academy of Accounting Historians and former Dean of the School of Accountancy.

Congratulations Life Member, Barbara Merino, Receives Public Interest Section Accounting Exemplar Award At 2015 Aaa Annual Meeting In Chicago

Accounting Historians Notebook

The Public Interest Section Accounting Exemplar Award is given to either an accounting educator or an accounting practitioner (broadly defined) who has made notable contributions to professionalism and ethics in accounting education and/or practice.

Academy Member Spotlight: Robert H. Colson

Accounting Historians Notebook

Robert H. Colson is distinguished lecturer in the Stan Ross Department of Accountancy at Baruch College CUNY, New York, New York.

2014 Best Paper Award To Fleischman, Tyson And Oldroyd

Accounting Historians Notebook

Best paper: “The U.S. Freedman’s Bureau in Post Civil War Reconstruction”

James Mckinney Receives 2015 Innovation In Accounting History Education Award

Accounting Historians Notebook

James McKinney, a Clinical Professor of Accounting and Information Assurance at the Robert H. Smith School of Business at the University of Maryland is an award winning author of accounting research, teacher, and student organization faculty advisor.