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Articles 1 - 10 of 10

Full-Text Articles in Law

Curtailing The Economic Distortions Of The Mortgage Interest Deduction, William T. Mathias Oct 1996

Curtailing The Economic Distortions Of The Mortgage Interest Deduction, William T. Mathias

University of Michigan Journal of Law Reform

Many Americans consider the mortgage interest deduction a necessary fixture of the American tax system. In this Article, Mathias examines the economic underpinnings of the deduction and finds that it cannot be justified on purely economic grounds. He then evaluates the major policy arguments for the mortgage interest deduction and concludes that it is inefficient, inequitable, and too costly in its present form to be justified on policy grounds. Finally, the author advocates for the elimination or substantial reduction in the size and scope of the mortgage interest deduction.


Taxing Contingency Fee Attorneys As Investors: Recognizing The Modern Reality, Robert M. Amkraut Jul 1996

Taxing Contingency Fee Attorneys As Investors: Recognizing The Modern Reality, Robert M. Amkraut

Washington Law Review

In the 1995 case of Boccardo v. Commissioner, the Ninth Circuit changed the tax treatment of advances made by attorneys working on contingency fee arrangements. The court held that, in a specific type of contingency fee arrangement, costs paid by an attorney are deductible as ordinary and necessary business expenses. This decision not only challenges assumptions underlying decades of case law and centuries of legal ethical tradition, but it also undermines the tax accounting principle of matching expenses with related income. This Note summarizes the traditional rationales for prohibiting attorneys from deducting such costs and analyzes the Boccardo decision. …


Gambling With The Irs: The Enforcement Of Retroactive Tax Statutes In United States V. Carlton, Stewart Haskins Jul 1996

Gambling With The Irs: The Enforcement Of Retroactive Tax Statutes In United States V. Carlton, Stewart Haskins

Mercer Law Review

In United States v. Carlton, the Supreme Court rejected a Due Process challenge to the retroactive elimination of an estate tax deduction. In 1986, Congress revised the Internal Revenue Code to allow a deduction under 26 U.S.C. § 2057 for half the proceeds of a sale of employer securities by the executor of an estate to an employee stock ownership plan (ESOP). Jerry W. Carlton was the executor of Willametta K. Day's estate. In December 1986, Carlton used estate funds to purchase MCI stock valued at $11,206,000. Two days later, Carlton sold the stock to the MCI ESOP for …


Section L04(A)(2) After Commissioner U. Schleier: Litigating The Excludability Of Statutory Damages "Received On Account Of Personal Injuries", T. James Lee Jr. May 1996

Section L04(A)(2) After Commissioner U. Schleier: Litigating The Excludability Of Statutory Damages "Received On Account Of Personal Injuries", T. James Lee Jr.

BYU Law Review

No abstract provided.


Federal Taxation, Timothy J. Peaden, Ben E. Muraskin, James A. Lawton May 1996

Federal Taxation, Timothy J. Peaden, Ben E. Muraskin, James A. Lawton

Mercer Law Review

During 1995, as in past years, the Eleventh Circuit considered several procedural issues. The procedural issues decided in 1995 involved refund claims, tax liens, and litigation fees. As to substantive tax issues, the court affirmed the taxpayer-favorable Tax Court decision in Estate of Hubert v. Commissioner. The estate tax issue involved, however, is a controversial one, and the Sixth and Federal Circuit Courts of Appeals have previously reached a contrary conclusion.


No Exclusion For Adea Claims Under I.R.C. § 104(A)(2): An Analysis Of Commissioner V. Schleier, T. Mark Sandifer Mar 1996

No Exclusion For Adea Claims Under I.R.C. § 104(A)(2): An Analysis Of Commissioner V. Schleier, T. Mark Sandifer

Mercer Law Review

In order to resolve inconsistent conclusions between the courts of appeals as to the taxability of damages received under the Age Discrimination in Employment Act of 1967 (ADEA), the United States Supreme Court granted certiorari in Commissioner v. Schleier. After receiving damages in an ADEA settlement with United Airlines, Inc., Erich Schleier included as gross income the back pay portion of the settlement, but excluded the portion of the settlement attributed to liquidated damages on his 1986 federal income tax return. The Tax Commissioner issued a deficiency notice, claiming Schleier should have included the liquidated damages as gross income. …


Innocent Spouses, Reasonable Women And Divorce: The Gap Between Reality And The Internal Revenue Code, Stephen A. Zorn Jan 1996

Innocent Spouses, Reasonable Women And Divorce: The Gap Between Reality And The Internal Revenue Code, Stephen A. Zorn

Michigan Journal of Gender & Law

This Article asks whether the "reasonable woman" should become the standard for women seeking relief from tax liabilities under the innocent spouse provision of the I.R.C. and whether an even more specific standard should be adopted for women who are also going through divorce or are in similar situations.


The Taxpayer's Third Personality: Comments On Redlark V. Commissioner, William D. Popkin Jan 1996

The Taxpayer's Third Personality: Comments On Redlark V. Commissioner, William D. Popkin

Indiana Law Journal

No abstract provided.


The Return Of The White Buffalo: Taxation Issues Facing American Indian Tribes Conducting Gambling Enterprises On Tribal Lands, Jose J. Monsivais Jan 1996

The Return Of The White Buffalo: Taxation Issues Facing American Indian Tribes Conducting Gambling Enterprises On Tribal Lands, Jose J. Monsivais

American Indian Law Review

No abstract provided.


Equality, Liberty, And A Fair Income Tax, Marjorie E. Kornhauser Jan 1996

Equality, Liberty, And A Fair Income Tax, Marjorie E. Kornhauser

Fordham Urban Law Journal

This Article summarizes various formal theories of justice and of income taxation. It explores the nature of the American perception of justice. First, it provides an overview of the two political concepts that have shaped our country—liberty and equality. It then summarizes the American tradition, labeled "moral economic individualism," that articulates the meanings of liberty and equality that resonate most strongly within the national psyche. It surveys empirical evidence of American beliefs about distributive justice and taxation. The Article concludes that American beliefs in liberty and equality support a mildly progressive hybrid income-consumption tax, rather than a pure income tax …