Law Commons^™

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 …

A Tax On The Clones: The Strange Case Of Bitcoin Cash, Eric D. Chason

Faculty Publications

No abstract provided.

Cryptocurrency Hard Forks And Revenue Ruling 2019-24, Eric D. Chason

Faculty Publications

No abstract provided.

Extending The Taxation-Of-Risk Model To Timing Options And Marked-To-Market Taxes, Eric D. Chason

Faculty Publications

No abstract provided.

The Post-Tarp Movement To Regulate Banker Pay, Eric D. Chason

Faculty Publications

No abstract provided.

Executive Compensation And Tax Neutrality: Taxing The Investment Component Of Deferred Compensation, Eric D. Chason

Faculty Publications

No abstract provided.

Quantifying The Tax Advantage Of Deferred Compensation, Eric D. Chason

Faculty Publications

No abstract provided.

Why Pension Funding Matters, Eric D. Chason

Faculty Publications

No abstract provided.

Deferred Compensation Reform: Taxing The Fruit Of The Tree In Its Proper Season, Eric D. Chason

Faculty Publications

Executive pensions (or deferred compensation) grabbed headlines after Enron's collapse and fresh concerns over ever-increasing executive pay. They also grabbed the attention of Congress, which reformed executive pensions legislatively in 2004 with § 409A of the Internal Revenue Code. Section 409A merely tightens and clarifies the doctrines that had already governed executive pensions, leaving the basic economics of executive pensions unchanged. Executives can still defer taxation on current compensation until actual payment is made in the future. Deferral still comes at the same price to the employer, namely the deferral of its deduction for the compensation expense. Thus, the timing …

Class Warfare 1988-2005 Over Top Individual Income Tax Rates: Teeter-Totter From Soak-The-Rich To Robin-Hood-In-Reverse, John W. Lee

Faculty Publications

No abstract provided.

The Capital Gains "Sieve" And The "Farce" Of Progressivity 1921-1986, John W. Lee

Faculty Publications

No abstract provided.

Bad Drafting - A Case Study Of The Design And Implementation Of The Income Tax Subsidies For Education, Glenn E. Coven

Faculty Publications

No abstract provided.

International Comity And The Foreign Tax Credit: Crediting Nonconforming Taxes, Glenn E. Coven

Faculty Publications

No abstract provided.

Critique Of Current Congressional Capital Gains Contentions, John W. Lee

Faculty Publications

No abstract provided.

Capital Gains Myths, John W. Lee

Faculty Publications

This article is a summary of parts of Lee's forthcoming article "Critique of Current Congressional Capital Gains Contentions," 15 Va. Tax. L. Rev. 1 (1995). Professor Lee believes that the reasons given by the House Ways and Means Committee Report and capital gains cuts proponents in the recent hearings and the House floor debate in support of the CWATRA 50-percent individual generic capital gains cut are untrue in whole or in part. These stated reasons, reports Lee, are that a capital gains cut will (1) increase the personal savings rate, (2) encourage risk taking by entrepreneurs seeking new technologies and …

Partnership Profits Share For Services: An Aggregate Exegesis Of Revenue Procedure 93-27 (Part 2), John W. Lee

Faculty Publications

In this article, Professor Lee charts two alternative methods for implementing an aggregate solution to the problem of partnership profits share for services. The functional, or judicial, method is to handle (1) the exchange of partner-capacity services for a profit share subject to the risk f the venture with the Culbertson "common law relation of partnership," nonrealization event doctrine, implicitly contemplated by the 1984 legislative history to section 707(a)(2), (2) the classic Diamond transitory partner with a substance-over-form rule or step-transaction rule, and (3) a sale of the partnership interest in circumstances that would result in ordinary income in a …

'Death And Taxes' And Hypocrisy, John W. Lee

Faculty Publications

Professor Lee finds the "death and taxes" poem by Rep. Ewing hypocritical for several reasons. He notes that the poem is derived from a 1920s populist attack on Treasury Secretary Mellon for cutting taxes on the rich in the name of trickle-down economics while relying on regressive excise taxes on the masses -- an attack similar to that waged by then-Governor Clinton during the 1992 presidential campaign. Further, says Lee, the Bush administration displayed more of a preference for regressive excise taxes than the Clinton plan, whose reliance in part on consumption taxes appears a consequence of 25 years of …

President Clinton's Capital Gains Proposals, John W. Lee

Faculty Publications

Professor Lee believes that the generic capital gains rate should not be increased over 28 percent for revenue and political reasons. But to reflect that, on the average, capital gains realized by middle-income families consists entirely of inflation gain, while half of the capital gain realized at the 31- percent bracket and above consists of economic gain, increasing to 80-percent economic at the very top, he argues that a greater exclusion should be provided at the 28- and 15-percent brackets, either by a "progressive schedule" or by a $3,500 annual exclusion. To strengthen the political base for increasing the top …

The Future Of Transfer Taxation: Repeal, Restructuring And Refinement, Or Replacement, John E. Donaldson

Faculty Publications

No abstract provided.

Doping Out The Capitalization Rules After Indopco, John W. Lee

Faculty Publications

In this article, Lee provides guidance for Treasury and the IRS (in their promised clarification of application of INDOPCO). He delineates how to avoid what he perceives as the past pitfalls of capitalization of recurring, insubstantial, or relatively short-lived expenditures with Ito, or inadequate, amortization. The article also sets forth models for (a) amortizing as. a freestanding deferred charge long-lived substantial self-created intangibles such as business expansion costs, including employee training costs, and (b) expensing, or perhaps better, amortizing currently less substantial or regularly recurring, steady state self-created intangibles (such as repairs and advertising, respectively).

And The Rebuttal, Glenn E. Coven

Faculty Publications

No abstract provided.

Redefining Debt: Of Indianapolis Power And Fictitious Interest, Glenn E. Coven

Faculty Publications

No abstract provided.

The Art Of Regulation Drafting: Structured Discretionary Justice Under Section 355, John W. Lee

Faculty Publications

This article analyzes the 35-year evolution of the section 355 regulations from the perspectives of the jurisprudential dichotomy between general principles and detailed rules and administrative law theory as to agency discretion.

Congress As Indian-Giver: "Phasing-Out Tax" Allowances Under The Internal Revenue Code Of 1986, Glenn E. Coven

Faculty Publications

No abstract provided.

Capital Gains Exception To The House's "General Utilities" Repeal: Further Indigestions From Overly Processed "Corn Products", John W. Lee

Faculty Publications

In this article, Lee first describes the mechanics and tax effects of cost basis corporate acquisitions and analyzes why current tax rules favor such acquisitions over carryover basis acquisition (e .g., tax-free mergers); then he describes the House's proposed repeal in HR 3838 of the General Utilities doctrine in current sections 336-338, focusing on the continued exemption for long-term capital gains of a closely held active business corporation. This sets the stage for analysis of the Corn Products doctrine, which under an "integral asset" reading would deny the exemption to most appreciated operating assets, surely not the intent of the …

Limiting Losses Attributable To Nonrecourse Debt: A Defense Of The Traditional System Against The At-Risk Concept, Glenn E. Coven

Faculty Publications

No abstract provided.

The Relevance Of Fresh Investment To The Characterization Of Corporate Distributions And Adjustments, Glenn E. Coven

Faculty Publications

No abstract provided.

The Decline And Fall Of Taxable Income, Glenn E. Coven

Faculty Publications

No abstract provided.

The Alternative Minimum Tax: Proving Again That Two Wrongs Do Not Make A Right, Glenn E. Coven

Faculty Publications

No abstract provided.

The Affinity Provisions Of The Internal Revenue Code: A Case Study In Nonsimplification, Glenn E. Coven

Faculty Publications

No abstract provided.