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Articles 1 - 30 of 177
Full-Text Articles in Law
Crypto Assets And The Problem Of Tax Classifications, Eric D. Chason
Crypto Assets And The Problem Of Tax Classifications, Eric D. Chason
Faculty Publications
To date, Internal Revenue Service (I.R.S.) guidance on cryptocurrencies has been thin. When the I.R.S. has issued guidance, it occasionally mishandles the technical details (such as confusing air drops and hard forks). More personnel (and personnel with greater technical expertise) would allow the I.R.S. to keep pace with the explosive growth of cryptocurrency. Nevertheless, the I.R.S. could better leverage its existing resources by focusing on select issues and seeking enabling legislation from Congress. Specifically, the I.R.S. should focus on crypto issues occurring on a system-wide basis and not requiring taxpayer-specific considerations.
For example, determining whether Bitcoin is a “security” under …
Ground Zero: The Irs Attack On Syndicated Conservation Easements, Beckett G. Cantley, Geoffrey C. Dietrich
Ground Zero: The Irs Attack On Syndicated Conservation Easements, Beckett G. Cantley, Geoffrey C. Dietrich
William & Mary Environmental Law and Policy Review
On June 25, 2020, the Internal Revenue Service (“IRS”) announced a settlement initiative (“SI”) to certain taxpayers with pending docketed cases involving syndicated conservation easement (“SCE”) transactions. The SI is the current culmination of a long series of attacks by the IRS against SCE transactions. The IRS has recently found success in the Tax Court against SCEs, but the agency’s overall legal position may be overstated. It is possible that the recent SI is merely an attempt to capitalize on leverage while the IRS has it. Regardless, the current state of the law surrounding SCEs is murky at best. Whether …
A Tax On The Clones: The Strange Case Of Bitcoin Cash, Eric D. Chason
A Tax On The Clones: The Strange Case Of Bitcoin Cash, Eric D. Chason
Faculty Publications
No abstract provided.
Reforming The Charitable Contribution Tax Deduction: Accounting For Random Acts Of Charity, Janene R. Finley
Reforming The Charitable Contribution Tax Deduction: Accounting For Random Acts Of Charity, Janene R. Finley
William & Mary Business Law Review
Concern for the tax treatment of charitable contributions has increased as a result of the Tax Cuts and Jobs Act of 2017. Although the new law increased the limitation of deductible charitable contributions to 60 percent of adjusted gross income, the standard deduction was also increased. Increasing the standard deduction is expected to reduce the number of taxpayers who are able to itemize their deductions in the next tax year, which is expected to reduce charitable giving in the future. This Article discusses proposals to amend the Internal Revenue Code to promote charitable giving, including a non-itemizer deduction. In addition, …
Cryptocurrency Hard Forks And Revenue Ruling 2019-24, Eric D. Chason
Cryptocurrency Hard Forks And Revenue Ruling 2019-24, Eric D. Chason
Faculty Publications
No abstract provided.
Federal Tax Update (Powerpoint), Stephen L. Owen
Federal Tax Update (Powerpoint), Stephen L. Owen
William & Mary Annual Tax Conference
No abstract provided.
Federal Tax Update (Powerpoint), Stephen L. Owen
Federal Tax Update (Powerpoint), Stephen L. Owen
William & Mary Annual Tax Conference
No abstract provided.
Permitting Abused Spouses To Claim The Earned Income Tax Credit In Separate Returns, Fred B. Brown
Permitting Abused Spouses To Claim The Earned Income Tax Credit In Separate Returns, Fred B. Brown
William & Mary Journal of Race, Gender, and Social Justice
No abstract provided.
The Enigma Of Wynne, Edward A. Zelinsky
The Enigma Of Wynne, Edward A. Zelinsky
William & Mary Business Law Review
The five-justice Wynne majority used that case to make a major statement about the dormant Commerce Clause. In many respects, Wynne is an enigma that perpetuates an inherent problem of the Courts dormant Commerce Clause doctrine: the Court declares some ill-defined taxes as unconstitutionally discriminatory because they encourage in-state investment, while other economically equivalent taxes and government programs that similarly encourage intrastate economic activity are apparently acceptable under the dormant Commerce Clause.
Wynne is thus more important than the immediate situation it addresses, and will have consequences beyond the immediate circumstances it addresses. A decision as enigmatic as it is …
Federal Tax Update, Stephen L. Owen
Federal Tax Update, Stephen L. Owen
William & Mary Annual Tax Conference
No abstract provided.
Basing Budget Baselines, David Kamin
Basing Budget Baselines, David Kamin
William & Mary Law Review
Measuring the cost of legislation or even projecting the course of the federal budget requires defining a budget baseline—a starting point capturing the current state of the budget. Budget baselines underlie most measures employed in federal budget debates and enforcement rules. Yet, despite their widespread use, budget baselines engender considerable confusion and abuse.
For instance, when legislators enact temporary tax breaks, the breaks are officially estimated to cost far less than they likely will because of a loophole in federal budget baseline rules. Then, later efforts to extend the tax cuts are counted as increasing deficits when, in fact, by …
Structuring And Restructuring Deals In 2014 (And Beyond), Stephen L. Owen
Structuring And Restructuring Deals In 2014 (And Beyond), Stephen L. Owen
William & Mary Annual Tax Conference
No abstract provided.
Net Investment Income Tax Planning, Jeanne M. Sullivan
Net Investment Income Tax Planning, Jeanne M. Sullivan
William & Mary Annual Tax Conference
No abstract provided.
Recent Developments & Tax Planning For High Income Taxpayers, Cameron N. Cosby, Brian J. O'Connor
Recent Developments & Tax Planning For High Income Taxpayers, Cameron N. Cosby, Brian J. O'Connor
William & Mary Annual Tax Conference
No abstract provided.
A Tax Hike Liberals And Conservatives Should Both Like, Nathan B. Oman
A Tax Hike Liberals And Conservatives Should Both Like, Nathan B. Oman
Popular Media
No abstract provided.
Extending The Taxation-Of-Risk Model To Timing Options And Marked-To-Market Taxes, Eric D. Chason
Extending The Taxation-Of-Risk Model To Timing Options And Marked-To-Market Taxes, Eric D. Chason
Faculty Publications
No abstract provided.
A Primer On Us. Taxation Of International Transactions (Outline), William B. Sherman
A Primer On Us. Taxation Of International Transactions (Outline), William B. Sherman
William & Mary Annual Tax Conference
No abstract provided.
Statute Of Limitations For Overstatements Of Basis, Richard T. Rice
Statute Of Limitations For Overstatements Of Basis, Richard T. Rice
William & Mary Annual Tax Conference
No abstract provided.
A Primer On Us. Taxation Of International Transactions (Slides), William B. Sherman
A Primer On Us. Taxation Of International Transactions (Slides), William B. Sherman
William & Mary Annual Tax Conference
No abstract provided.
Federal Tax Update: Structuring Deals In 2012 And Beyond (Slides), Stephen L. Owen
Federal Tax Update: Structuring Deals In 2012 And Beyond (Slides), Stephen L. Owen
William & Mary Annual Tax Conference
No abstract provided.
Federal Tax Update: The Current Situation And The Prospects For Reform (Slides), Harry L. Gutman
Federal Tax Update: The Current Situation And The Prospects For Reform (Slides), Harry L. Gutman
William & Mary Annual Tax Conference
No abstract provided.
Recent Developments In Federal Income Taxation, Ira B. Shepard
Recent Developments In Federal Income Taxation, Ira B. Shepard
William & Mary Annual Tax Conference
No abstract provided.
The Post-Tarp Movement To Regulate Banker Pay, Eric D. Chason
The Post-Tarp Movement To Regulate Banker Pay, Eric D. Chason
Faculty Publications
No abstract provided.
Roth Ira Conversions Ii: Beyond The Basics (Slides), Mitchell A. Drossman
Roth Ira Conversions Ii: Beyond The Basics (Slides), Mitchell A. Drossman
William & Mary Annual Tax Conference
No abstract provided.
Converting To A Roth Ira - 2010 And Beyond (Slides), Mitchell A. Drossman
Converting To A Roth Ira - 2010 And Beyond (Slides), Mitchell A. Drossman
William & Mary Annual Tax Conference
No abstract provided.
Roth Iras Planning For 2010...And Beyond, Mitchell A. Drossman, Lester B. Law
Roth Iras Planning For 2010...And Beyond, Mitchell A. Drossman, Lester B. Law
William & Mary Annual Tax Conference
No abstract provided.
Ten Tax Strategies For Compensating Your Key Employees, Catherine M. Marriott
Ten Tax Strategies For Compensating Your Key Employees, Catherine M. Marriott
William & Mary Annual Tax Conference
No abstract provided.
Recent Developments In Federal Income Taxation, Ira B. Shepard
Recent Developments In Federal Income Taxation, Ira B. Shepard
William & Mary Annual Tax Conference
This recent developments outline discusses, and provides context to understand the significance of, the most important judicial decisions and administrative rulings and regulations promulgated by the Internal Revenue Service and Treasury Department during the most recent twelve months - and sometimes a little farther back in time if we find the item particularly humorous or outrageous. Most Treasury Regulations, however, are so complex that they cannot be discussed in detail and, anyway, only a devout masochist would read them all the way through; just the basic topic and Jundamental principles are highlighted - unless one of us decides to go …
Taxation, Pregnancy, And Privacy, Bridget J. Crawford
Taxation, Pregnancy, And Privacy, Bridget J. Crawford
William & Mary Journal of Race, Gender, and Social Justice
This Article frames a discussion of surrogacy within the context of existing income tax laws. A surrogate receives money for carrying and bearing a child. This payment is income by any definition, even if the surrogacy contract recites that it is a “reimbursement.” Cases and rulings on the income tax consequences of the sale of blood and human breast milk, as well as analogies to situations in which people are paid to wear advertising on their bodies, support the conclusion that a surrogate recognizes taxable income, although the Internal Revenue Service has never stated so. For tax purposes, the reproductive …