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Full-Text Articles in Law
Federal Income Tax Developments: 1982, Merlin G. Briner
Federal Income Tax Developments: 1982, Merlin G. Briner
Akron Tax Journal
This article discusses federal income tax developments in 1982, including relevant Supreme Court cases, oil and gas, tax shelters, deductions, corporations and interest free loans. The Tax Equity and Fiscal Responsibility Act (TERFA) is discussed in a separate section.
Death Of A Partner: Pre And Post-Mortem Planning, Jerome Hesch
Death Of A Partner: Pre And Post-Mortem Planning, Jerome Hesch
Akron Tax Journal
There are several alternative techniques which can be employed to alleviate the income tax problems associated with the death of a partner. The sophisticated tax advisor will understand, however, that some of the suggested techniques may not be practical for all situations. The purpose of this article is to describe these planning techniques and to guide the tax advisor as to which technique is appropriate for his client.
Is The Will The Way? Transmitting Interests In A Family Corporation, Gail Levin Richmond
Is The Will The Way? Transmitting Interests In A Family Corporation, Gail Levin Richmond
Akron Tax Journal
This article examines the effects of recent enactments upon the methods of transmitting interests in a closely-held corporation. Because the tax consequences will frequently vary depending upon whether the corporation is a C corporation or an S corporation, a brief description of each form precedes the discussion of the relevant tax consequences. The tax consequences, which will be discussed thereafter, involve interrelated questions: which consequences are involved, and who will bear their brunt? Because nontax considerations also influence the timing of stock transfers, the discussion will address them as well.
Tax Equity And Fiscal Responsibility Act Of 1982, Merlin G. Briner
Tax Equity And Fiscal Responsibility Act Of 1982, Merlin G. Briner
Akron Tax Journal
O N AUGUST 20, 1982, President Reagan signed into law the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA), the fourth piece of major tax legislation in less than seven years. Though TEFRA has been said to provide the single largest tax increase in American history, President Reagan lobbied for it not as a tax bill, but as a revenue measure which, to his mind, in no way represented a backing-off from his vaunted "supply side-trickle down" economic program. This article will discuss the implications of TERFA on both the individual taxpayer and businesses.