Law Commons^™

Tax Consequences Of Purchases Of Computer Hardware And Software, Robert W. Malone

Akron Tax Journal

The advent of the computer age has resulted in a significant increase in the investment by businesses in computer hardware and software. The term "hardware" refers to the physical equipment which accepts (input), processes, and prints (output) information received by it. The term "software" refers to the instructions (language) used to direct a computer to perform desired tasks and the documentation (discs, tapes, etc.) on which such instructions are recorded.' Examples of types of software include Basic, Fortran, Cobol, and RPG. This article addresses the tax aspects and planning opportunities associated with the purchases of computer hardware and software.

Selling A Business And Starting Anew: Liquidation-Reincorporation In The Simple Situation, John R. Dorocak

Akron Tax Journal

A client approaches his attorney with a fairly common problem. The client, as sole or predominant shareholder, operates a business in the corporate form. He wishes to sell all the assets of that business to a third party. The client will then take the proceeds of the sale, after distribution to himself as shareholder, and use a part of them to capitalize a new corporation, which will purchase a new business. The question for the attorney is whether this simple transaction will ever call forth the tax doctrine of liquidation-reincorporation. This article will examine the likelihood of the liquidation reincorporation …

Proceedings From The 1984 Tax Institute Symposium: Partnerships: Special Allocations Under The New Regulations, The Proposed Regulations Or Whatever, John C. Siegesmund

Akron Tax Journal

This article discusses Section 704 of the Internal Revenue Code and the 1984 proposed regulations related to the section. It looks at the major test of the regulations, that an allocation will be approved if it has substantial economic effect. It examines the two parts of this - that the allocation has to have an economic effect, and that the economic effect has to be substantial.

Proceedings From The 1984 Tax Institute Symposium: Cash Or Deferred Arrangements Under I.R.C. Section 401(K), John H. Appel

Akron Tax Journal

This article examines the reasons why an employer might consider a cash or deferred profit sharing or stock bonus plan. It looks at the rules for a cash or deferred arrangement (CODA) under Section 401(k) of the Internal Revenue Code. It covers the four primary requirements under the I.R.C., and then fifth, and biggest requirement, nondiscrimination.

Assisting Dislocated Workers: Dimensions, Needs And Tax Policy Options, Lewis D. Solomon, Janet S. Solomon, Brian M. Malsberger

Akron Tax Journal

The involvement of the federal government in retraining of dislocated workers raises the specter of rigidity, bureaucracy, paternalism, and cost. After examining the dimensions of the dislocated worker problem and the need for governmental involvement, this article examines the use of tax policy to enable workers to bridge the gap between old and new jobs and to thrive in an economy in transition. The policy making challenge can be succinctly stated: is it possible to use the federal income tax system to the advantage of society by creating tax incentives for a retraining program based on individual choice and limited …

Subchapter S As A Vehicle In Real Estate And Oil & Gas, Lorence L. Bravenec

Akron Tax Journal

This article discusses several significant problem areas faced in real estate and oil & gas activities under the new rules for S corporations enacted by the Subchapter S Revision Act of 1982 (hereinafter the "1982 Act"),' as modified by the Tax Reform Act of 1984 (hereinafter the "1984 Act"). The 1982 Act brought the taxation of S corporations and shareholders more in line with the partnership model, thus making the law conform more to the expectations of the parties. At the same time, the 1982 Act removed many of the serious pitfalls and the sought after planning devices under the …

Federal Income Tax Developments: 1983, Merlin G. Briner, Richard J. Kovach

Akron Tax Journal

This article surveys substantive federal income tax developments in 1983, including relevant Supreme Court cases, deductions, legislative and treasury regulations, and income recognition and related topics.

Report On Tax Aspects Of Farmers In Bankruptcy, Ralph T. Turner

Akron Tax Journal

This article will deal only with the individual taxpayer who utilizes the bankruptcy court and not with the tax treatment of corporations and partnerships in bankruptcy. There are special rules for the tax treatment of these entities. This article will review the general principles of tax treatment of an individual whose indebtedness was discharged in bankruptcy under the prior law and under the Bankruptcy Tax Act of 1980. After this general review and comments on their application to farmers, a hypothetical fact situation will be reviewed and the handling of the tax returns for the individual and the bankruptcy estate …

Over The Back Fence: Tax Shelters And Other Sales Of Federal Income Tax Reductions, Thomas A. Robinson

Akron Tax Journal

Structural features of the federal income tax system frequently make the same tax reduction' more valuable to one taxpayer than to another. There are many types of such tax reductions (including deductions and credits), creating a fertile environment for the tax shelter markets. Black letter law says tax reductions are nontransferable. In other words, taxpayers are not allowed to sell their mortgage interest deductions over the back fence to their neighbors. Yet, observation reveals some transactions where tax reductions are in effect bought and sold. This article will examine four of these transactions: business sales, divorce agreements, sale-leasebacks, and partnership …

Environmental Policy Law In The 1980'S: Shifting Back The Burden Of Proof, Martin H. Belsky

Akron Law Faculty Publications

This article will describe the legal and policy burdens of proof applicable to environmental decision-making and the shifts that have occurred in allocating those burdens. The initial change occurred when common-law principles gave way to a pro-protection legal framework established during an "environmental era." The second change occurred more recently when a new environmental policy law agenda was set. Through regulatory reforms, policy alterations, statutory proposals and budgetary and personnel actions, the federal executive is now seeking to develop a more pro-development structure and again place the burden of proof on those seeking to secure government action to protect the …

Review Essay On Becoming And Being A Prosecutor, Martin H. Belsky

Akron Law Faculty Publications

A prosecutor is a detective, a litigator, a manager, and a policymaker. He is responsible for investigating illegalities' and is permitted to use specially assigned tools-a grand jury or subpoena-to acquire information and evidence. As a litigator, he is counsel for an artificial client-the government or people-but also the representa- tive of identifiable victims. Moreover, though he functions in an adversary system, he must temper his advocacy and zeal. His goal is not merely to "win," but also to see that "justice is done."

The prosecutor must manage an increasing set of responsibilities in a complex and often arbitrary system, …

Environmental Policy Law In The 1980'S: Shifting Back The Burden Of Proof, Martin H. Belsky

Martin H. Belsky

This article will describe the legal and policy burdens of proof applicable to environmental decision-making and the shifts that have occurred in allocating those burdens. The initial change occurred when common-law principles gave way to a pro-protection legal framework established during an "environmental era." The second change occurred more recently when a new environmental policy law agenda was set. Through regulatory reforms, policy alterations, statutory proposals and budgetary and personnel actions, the federal executive is now seeking to develop a more pro-development structure and again place the burden of proof on those seeking to secure government action to protect the …

Review Essay On Becoming And Being A Prosecutor, Martin H. Belsky

Martin H. Belsky

A prosecutor is a detective, a litigator, a manager, and a policymaker. He is responsible for investigating illegalities' and is permitted to use specially assigned tools-a grand jury or subpoena-to acquire information and evidence. As a litigator, he is counsel for an artificial client-the government or people-but also the representa- tive of identifiable victims. Moreover, though he functions in an adversary system, he must temper his advocacy and zeal. His goal is not merely to "win," but also to see that "justice is done."

The prosecutor must manage an increasing set of responsibilities in a complex and often arbitrary system, …