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Taxation-Federal

2007

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Articles 1 - 30 of 68

Full-Text Articles in Law

Paying To Save: Tax Withholding And Asset Allocation Among Low- And Moderate-Income Taxpayers, Michael S. Barr, Jane Dokko Nov 2007

Paying To Save: Tax Withholding And Asset Allocation Among Low- And Moderate-Income Taxpayers, Michael S. Barr, Jane Dokko

Law & Economics Working Papers Archive: 2003-2009

We analyze the phenomenon that low- and moderate-income (LMI) tax filers exhibit a “preference for over-withholding” their taxes, a measure we derive from a unique set of questions administered in a dataset of 1,003 households, which we collected through the Survey Research Center at the University of Michigan. We argue that the relationship between their withholding preference and portfolio allocation across liquid and illiquid assets is consistent with models with present-biased preferences, and that individuals exhibit self-control problems when making their consumption and saving decisions. Our results support a model in which individuals use commitment devices to constrain their consumption. …


Recent Developments In Federal Income Taxation, Ira B. Shepard Nov 2007

Recent Developments In Federal Income Taxation, Ira B. Shepard

William & Mary Annual Tax Conference

No abstract provided.


Navigating Uncharted Waters: The New Charitable Entity Legislation, Robert L. Thalhimer, Michele A. W. Mckinnon Nov 2007

Navigating Uncharted Waters: The New Charitable Entity Legislation, Robert L. Thalhimer, Michele A. W. Mckinnon

William & Mary Annual Tax Conference

No abstract provided.


Another Take On The Mortgage Debt Relief Situation, Deborah A. Geier Oct 2007

Another Take On The Mortgage Debt Relief Situation, Deborah A. Geier

Law Faculty Articles and Essays

Prof. Deborah A. Geier responds to Prof. Stephen Cohen's viewpoint on the mortgage debt relief debate.


The Ubit: Leveling An Uneven Playing Field Or Tilting A Level One?, Michael S. Knoll Oct 2007

The Ubit: Leveling An Uneven Playing Field Or Tilting A Level One?, Michael S. Knoll

All Faculty Scholarship

After grateful alumni acquired the Mueller Spaghetti Company on behalf of New York University, and the courts held that the university did not have to pay tax on the pasta maker’s income, Mueller’s competitors cried foul. Congress responded to their pleas and enacted the unrelated business income tax (UBIT). The UBIT subjects an otherwise tax-exempt entity, such as a charitable institution or a religious organization, to tax on its income from a trade or business that is not substantially related to the organization’s tax-exempt purpose. The UBIT is widely viewed as leveling the playing field between taxable for-profit businesses and …


Can You Have Your Cake And Eat It Too? Achieving Capital Gain Treatment While Keeping The Property, Ronald H. Jensen Oct 2007

Can You Have Your Cake And Eat It Too? Achieving Capital Gain Treatment While Keeping The Property, Ronald H. Jensen

Elisabeth Haub School of Law Faculty Publications

I will attempt to show in this article that the cases and rulings dispensing with the need for a sale or exchange are unjustified under the statutory scheme and prevailing capital gain jurisprudence, and further that such holdings constitute bad policy. Part II will set forth a number of examples, based largely on decided cases, where it has been held or contended that recoveries in excess of basis qualify for capital gain treatment even though the taxpayer did not sell or exchange the property. These cases will illustrate the contexts in which this issue arises and will provide a basis …


Patenting The Tax Code: Monopolizing Basic Tax Strategy, Nicholas Robinson Oct 2007

Patenting The Tax Code: Monopolizing Basic Tax Strategy, Nicholas Robinson

Buffalo Intellectual Property Law Journal

No abstract provided.


Congress's Tax Incentives Send Mixed Signals For Automobile Buyers: Should Americans Buy Gas Guzzlers Or Hybrids?, Bradley A. Ridlehoover Oct 2007

Congress's Tax Incentives Send Mixed Signals For Automobile Buyers: Should Americans Buy Gas Guzzlers Or Hybrids?, Bradley A. Ridlehoover

William & Mary Environmental Law and Policy Review

No abstract provided.


The Effects Of The Virginia Land Preservation Credit On Federal Taxable Income: Should The Right Hand Take From What The Left Hand Gave?, W. Eugene Seago Oct 2007

The Effects Of The Virginia Land Preservation Credit On Federal Taxable Income: Should The Right Hand Take From What The Left Hand Gave?, W. Eugene Seago

William & Mary Environmental Law and Policy Review

No abstract provided.


All In The Family As Single Shareholder Of An S Corporation, Jeffrey H. Kahn, Douglas H. Kahn, Terrence G. Perris Aug 2007

All In The Family As Single Shareholder Of An S Corporation, Jeffrey H. Kahn, Douglas H. Kahn, Terrence G. Perris

Scholarly Publications

No abstract provided.


All In The Family As A Single Shareholder Of An S Corporation, Douglas A. Kahn, Jeffrey H. Kahn, Terrence G. Perris Aug 2007

All In The Family As A Single Shareholder Of An S Corporation, Douglas A. Kahn, Jeffrey H. Kahn, Terrence G. Perris

Articles

Subject to a few exceptions, a corporation that has elected to be taxed under subchapter S of chapter 1 of subtitle A of title 26 of the United States tax code is not taxed on its net income. Instead, the income, deductions, credits, and other tax items of an S corporation pass through to its shareholders on a pro rata basis. To qualify for subchapter S treatment, an electing corporation must satisfy the requirements that are set forth in section 1361, one of which is that the corporation can have no more than 100 shareholders. One aspect of that requirement …


Economic Substance And The Supreme Court, Amandeep S. Grewal Jul 2007

Economic Substance And The Supreme Court, Amandeep S. Grewal

Andy Grewal

The Supreme Court grants certiorari in a wide variety of fascinating cases. Occasionally, it agrees to decide tax cases, too. Perhaps because of the perceived dryness of tax law, the Court has been hesitant to address the validity of the so-called economic substance doctrine. Although there are too many formulations of the doctrine to count, the lower courts often hold that even when a taxpayer has met a statute's requirements, he cannot enjoy any of its benefits unless his conduct reveals a business purpose and a reasonable expectation of profit. This article argues that the lower courts' application of an …


Tax Magic: Did Billy Donovan Pull Income Out Of A Hat?, Jeffrey H. Kahn, Joshua P. Fershee Jul 2007

Tax Magic: Did Billy Donovan Pull Income Out Of A Hat?, Jeffrey H. Kahn, Joshua P. Fershee

Scholarly Publications

No abstract provided.


La Cesión De Derechos En El Código Civil Peruano, Edward Ivan Cueva Jul 2007

La Cesión De Derechos En El Código Civil Peruano, Edward Ivan Cueva

Edward Ivan Cueva

La Cesión de Derechos en el Código Civil Peruano


Congress's Transformative Republican Revolution In 2001-2006 And The Future Of One-Party Rule, Charles Tiefer Jul 2007

Congress's Transformative Republican Revolution In 2001-2006 And The Future Of One-Party Rule, Charles Tiefer

All Faculty Scholarship

In 2001 - 2006, Republican leadership in the legislature circumvented procedural norms to implement an ideological agenda that precluded the minority party from making alternative proposals and voicing criticisms. With the Republican majority in the Senate falling to 50-50 in 2000, President Bush's assumption of office, despite having lost the popular vote, set the tone for what would become an era of illegitimate procedural reform cloaked in secrecy and deniability. Through closed-door conferences and closed-rules, Republican leadership in the House and Senate turned the clock back on civil liberties, passed unfavorable and convoluted tax cuts, and used transformed health care …


Federal Taxation, Michael H. Plowgian, Svetoslav S. Minkow, Mark S. Davis Jul 2007

Federal Taxation, Michael H. Plowgian, Svetoslav S. Minkow, Mark S. Davis

Mercer Law Review

While the legal holdings of the tax cases decided in the Eleventh Circuit in 2006 do not appear remarkable at first blush, the cases present somewhat conflicting considerations of equity that make them noteworthy. The Eleventh Circuit held in Ellinger v. United States that a taxpayer, who owned half of the stock in three S corporations, could not rely on language in a closing agreement between the Internal Revenue Service (the "Service") and one of the corporations to determine his tax liability with respect to transactions between the first corporation and the other two corporations. Reversing a district court decision, …


Thinking About Conflicting Gravitational Pulls Litcs: The Academy And The Irs, Nancy S. Abramowitz Jun 2007

Thinking About Conflicting Gravitational Pulls Litcs: The Academy And The Irs, Nancy S. Abramowitz

Articles in Law Reviews & Other Academic Journals

This article addresses the tension between educational and public service goals in the immediate term for tax clinics receiving funding from the Low Income Taxpayer Clinic (“LITC”) program under Internal Revenue Code §7526. The author expresses concern that the LITC Program Office will over emphasize the “number-of-taxpayers served” factor in program evaluation, thereby putting academic clinics at a distinct disadvantage in seeking and/or retaining program funds. By imposing these types of “productivity” measures, there is a tendency to force that particular type of activity, thereby significantly disrupting what otherwise might be a better or different educational model for the use …


Professor Janet Spragens: In Memory Of A Friend, In Celebration Of An Idea, Nancy S. Abramowitz Jun 2007

Professor Janet Spragens: In Memory Of A Friend, In Celebration Of An Idea, Nancy S. Abramowitz

Articles in Law Reviews & Other Academic Journals

This article is a tribute to the career and contributions of Professor Janet Spragens, who created the Federal Tax Clinic at the American University, Washington College of Law (WCL). During testimony before the historic Internal Revenue Service Restructuring Commission, Prof. Spragens advised the Commission to create better education of the public and greater availability of free advocacy for low-income taxpayers through federal funding of more clinics. In its landmark legislation of 1998, Congress responded to this testimony with the enactment of 26 U.S.C. §7526, which authorized a program to fund academic and pro bono clinics working to educate non-native English …


Controlling Executive Compensation Through The Tax Code, Gregg D. Polsky Jun 2007

Controlling Executive Compensation Through The Tax Code, Gregg D. Polsky

Washington and Lee Law Review

No abstract provided.


No Wealthy Parent Left Behind: An Analysis Of Tax Subsidies For Higher Education, Andrew Pike Jun 2007

No Wealthy Parent Left Behind: An Analysis Of Tax Subsidies For Higher Education, Andrew Pike

Articles in Law Reviews & Other Academic Journals

This article analyzes the status in 2007 of higher education costs in relation to U.S. taxation policy and the declining real income and ability of lower and middle income taxpayers to pay tuition and fees. Then-current tax policy lessened support for families with the greatest financial need while providing much greater levels of support to those with greater financial resources. To enhance distributional fairness, the author proposes that Congress repeal tax provisions that have this effect and consolidate the separate sources of federal financial aid grants into one program--an expanded Pell Grant program. He also advises that Congress make the …


What's Good For The Goose Is Not Good For The Gander: Sarbanes-Oxley-Style Nonprofit Reforms, Lumen N. Mulligan Jun 2007

What's Good For The Goose Is Not Good For The Gander: Sarbanes-Oxley-Style Nonprofit Reforms, Lumen N. Mulligan

Faculty Works

In this article, I contend that these Sarbanes-Oxley-inspired, state, nonprofit reforms, particularly the costly disclosure requirements, will be of little value in the effort to improve ethical nonprofit board governance. The article proceeds as follows. Part II provides a primer on the oversight of nonprofit organizations. Part III reviews the recent Sarbanes-Oxley-like nonprofit reforms introduced in seven states. Part IV contends that the disclosure-focused reforms, which form the bulwark of these acts, will not foster ethical nonprofit board governance. Part V argues that this failure stems from the inappropriate application of a stockholder-based, normative perspective in the nonprofit sector. The …


Optimal Tax Compliance And Penalties When The Law Is Uncertain, Kyle D. Logue Jun 2007

Optimal Tax Compliance And Penalties When The Law Is Uncertain, Kyle D. Logue

Articles

This article examines the optimal level of tax compliance and the optimal penalty for noncompliance in circumstances in which the substance of the tax law is uncertain - that is, when the precise application of the Internal Revenue Code to a particular situation is not clear. In such situations, a number of interesting questions arise. This article will consider two of them. First, as a normative matter, how certain should taxpayers be before they rely on a particular interpretation of a substantively uncertain tax rule? If a particular position is not clearly prohibited but neither is it clearly allowed, what …


Segundo Congreso Nacional De Organismos Públicos Autónomos, Bruno L. Costantini García May 2007

Segundo Congreso Nacional De Organismos Públicos Autónomos, Bruno L. Costantini García

Bruno L. Costantini García

Memorias del Segundo Congreso Nacional de Organismos Públicos Autónomos. "Autonomía, Profesionalización, Control y Transparencia"


Algunos Apuntes En Torno A La Prescripción Extintiva Y La Caducidad, Edward Ivan Cueva May 2007

Algunos Apuntes En Torno A La Prescripción Extintiva Y La Caducidad, Edward Ivan Cueva

Edward Ivan Cueva

No abstract provided.


Recognizing The Larger Sacrifice: Easing The Burdens Borne By Living Organ Donors Through Federal Tax Deductions, M. Lane Molen May 2007

Recognizing The Larger Sacrifice: Easing The Burdens Borne By Living Organ Donors Through Federal Tax Deductions, M. Lane Molen

Brigham Young University Journal of Public Law

No abstract provided.


Lecture, “Current Issues In Us-Swedish Tax Relationships, Hugh Ault Apr 2007

Lecture, “Current Issues In Us-Swedish Tax Relationships, Hugh Ault

Hugh J. Ault

No abstract provided.


Lecture, “The Work Of The Oecd In International Tax Matters, Recent Developments, Hugh Ault Apr 2007

Lecture, “The Work Of The Oecd In International Tax Matters, Recent Developments, Hugh Ault

Hugh J. Ault

No abstract provided.


The Aches And Pains Of Transition To A Consumption Tax: Can We Get There From Here?, Daniel S. Goldberg Apr 2007

The Aches And Pains Of Transition To A Consumption Tax: Can We Get There From Here?, Daniel S. Goldberg

Faculty Scholarship

This article discusses probably the most significant obstacle to the adoption of a consumption tax: the negative effects on existing wealth that the transition from the income tax to most forms of a consumption tax would have. The Congressional Budget Office in its 1997 study posed the question, “How to Get There from Here.” The difficulty with transition and the changes in the tax law since the CBO study, however, prompt the more basic question: “Can we get there from here?” This article deals with this question by examining the effects of transition on existing wealth under a variety of …


Tax Shelters And The Code: Navigating Between Text And Internet, Steven A. Dean, Lawrence M. Solan Apr 2007

Tax Shelters And The Code: Navigating Between Text And Internet, Steven A. Dean, Lawrence M. Solan

Faculty Scholarship

No abstract provided.


To Tax Or Not To Tax, That Is The Question: The State Of Section 104(A)(2) Following Murphy V. Internal Revenue Service, Stuart G. Lazar Apr 2007

To Tax Or Not To Tax, That Is The Question: The State Of Section 104(A)(2) Following Murphy V. Internal Revenue Service, Stuart G. Lazar

Other Scholarship

No abstract provided.