Law Commons^™

The Impact Of The United States Tax Laws On International Technology Transfer: An Overview And Some Suggestion For Minimizing The Bite, Marcus B. Finnegan, Robert E. Mccarthy

Georgia Journal of International & Comparative Law

No abstract provided.

Of More Than Usual Interest: The Taxing Problem Of Debt Principal, Charlene D. Luke

Seattle University Law Review

Leverage is an essential but often troubling component of the U.S. market. The financial crisis highlighted the risks and complexity of a leverage web that includes flesh-and-blood people from all walks of life and paper people from all corners of the business and investment world. In the tax area, the potentially problematic incentive effects of interest deductibility have long engaged a wide array of tax commentators and policymakers. While interest deductibility rightly receives widespread scrutiny, a more comprehensive approach to leverage is needed. This Article focuses on the surprisingly complicated tax treatment of cash (and cash equivalent) borrowings. This Article …

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 …

Tax Incentives To Exportation: Alternatives To Disc, Timothy A. Peterson

Georgia Journal of International & Comparative Law

No abstract provided.

Through The Antiboycott Morass To An Export Priority, Mark D. Menefee, Don Samuel

Georgia Journal of International & Comparative Law

No abstract provided.

Dodging The Taxman: Why The Treasury’S Anti-Abuse Regulation Is Unconstitutional, Linda D. Jellum

University of Miami Law Review

To combat abusive tax shelters, the Department of the Treasury promulgated a general anti-abuse regulation applicable to all of subchapter K of the Internal Revenue Code of 1986. The Treasury targeted subchapter K because unique aspects of the partnership tax laws—including its aggregate-entity dichotomy—foster creative tax manipulation. In the anti-abuse regulation, the Treasury attempted to “codify” existing judicially-created anti-abuse doctrines, such as the business-purpose and economic-substance doctrines. Also, and more surprisingly, the Treasury directed those applying subchapter K to use a purposivist approach to interpretation and to reject textualism.

In this article, I demonstrate that the Treasury exceeded both its …

Federal Income Tax Developments: 1873

Akron Law Review

This article goes through the new development of the Federal Income Tax.

Income Tax Considerations In The Transition To A Professional Corporation, Harvey Dunn

Akron Law Review

[T]he tax considerations in the formation and operation of a professional corporation are numerous and, unfortunately, there are many areas which lack definite guidelines so as to enable the practitioner to give as definite an answer as he would like to. However, as with any new area of tax law, it will take time, decisions and rulings to develop what one may term as reasonable guidelines for reaching a conclusion. In the meantime, there is little doubt that with careful planning in the formative stages and close observation of the operation of a professional corporation, the risk of problems with …

Federal Income Tax Developments: 1974

Akron Law Review

FEDERAL INCOME TAX DEVELOPMENTS: 1974 is the second of an annual series of articles to be published in the Winter Issue of the AKRON LAW REVIEW. The thrust of this article is not only to identify the new developments, but also to trace these concepts through their formative stages. A synopsis of recent legislation appears before the TABLE OF CONTENTS, and a TABLE OF CASES, TABLE OF INTERNAL REVENUE CODE SECTIONS, and TABLE OF RECENT REVENUE RULINGS can be found following the text of the article.

Federal Income Tax Developments: 1976 Part Two

Akron Law Review

Tax Reform Act of 1976

Federal Income Tax Developments: 1976

Akron Law Review

FEDERAL INCOME TAX DEVELOPMENTS: 1976 is the fourth of an annual series of articles to be published in the Winter Issue of the AKRON LAW REVIEW. The scope of this survey is limited to the substantive developments in the field of income taxation. The thrust of this article is not only to identify the new developments, but also to trace these concepts through their formulative changes. This article covers not only the new developments in the case law but also the TAX REFORM ACT OF 1976.

Federal Income Tax Developments: 1975

Akron Law Review

FEDERAL INCOME TAX DEVELOPMENTS: 1975 is the third of an annual series of articles to be published in the Winter Issue of the Akron LAW REVIEW. The thrust of this article is not only to identify the new developments, but also to trace these concepts through their formative stages. The area of concentration for this article includes cases decided through September 30, 1975. Given the volatile nature of taxation, it is crucial for the practitioner in this field to remain current with the changes which have occurred during the tax year. The purpose of this article is to highlight for …

Federal Income Tax Developments: 1977

Akron Law Review

The thrust of this article is not only to identify the new developments, but also to trace these concepts through their formulative changes. This article covers the new developments in the case law including those cases and rulings implementing the Tax Reform Act of 1976.

Nontaxable Transfers; Interest-Free Loans; Crown V. Commissioner, Linda Haught Robb

Akron Law Review

"INTEREST-FREE FAMILY LOANS remain outside the purview of the federal estate and gift tax statutes despite the recent efforts of the Internal Revenue Service to convince the judiciary that, in such loans, the fair market value of the foregone interest is a gift. This is an extrapolation of the Service's efforts to find income to the recipient in other interest-free money situations. In light of the Service's limited activity in dealing with tax consequences of the interest-free loans, the Seventh Circuit's decision in Crown v. Commissioner' will be an important reference for estate and tax planning. Doubtlessly, the Service will …

Revenue Act Of 1978, Merlin G. Briner

Akron Law Review

"THE REVENUE ACT OF 1978 is a continuation of Federal Income Tax Developments: 1978 which appeared in the Fall, 1978 issue of the AKRON LAW REVIEW. This survey examines the substantive changes in federal tax law resulting from the passage of the Revenue Act of 1978 and other legislation. This author has again engaged the most able assistance of several members of the AKRON LAW REVIEW. Without their substantial contributions and complete dedication, this article would not have been possible. Special appreciation is extended to Linda Robison for her dedicated efforts."

Federal Income Tax Developments: 1978

Akron Law Review

FEDERAL INCOME TAX DEVELOPMENTS: 1978 is the sixth of an annual series of articles to be published in the AKRON LAW REVIEW. The scope of this survey is limited to the substantive developments in the field of income taxation. The thrust of this article is not only to identify new developments, but also to trace these concepts through their formulative changes.

Unreasonable Compensation In The Professional Corporation, Vincent J. Falcone

Akron Law Review

This comment will discuss the federal income tax issue of unreasonable compensation as it affects the incorporated professional. Discussion will first center on the modus operandi of the professional corporation, and how the compensation issue arises. Unreasonable compensation will then be defined and explained in that context. Next, the actual considerations used in determining whether compensation is excessive or not will be discussed. Then, the additional requirement that the remuneration be compensation in fact, and not a return on investment, will be investigated. The applicability of the 50% maximum tax on personal service income will also be analyzed. Finally, some …

Federal Income Tax Developments: 1979

Akron Law Review

The scope of this survey is limited to the substantive developments in the field of income taxation. The thrust of this article is not only to identify new developments, but also to trace these concepts through their formulative changes

Federal Income Tax Developments: 1980

Akron Law Review

The scope of this survey is limited to the substantive developments in the field of income taxation. The thrust of this article is not only to identify new developments, but also to trace these concepts through their formulative changes.

I.R.C. §(A)(3)(D): Reorganizing An Insolvent Savings And Loan Association, Brenda D. Crocker, Michael L. Unti

Akron Law Review

Whether or not the new reorganization provision, section 368(a)(3) (D), succeeds in inducing the acquisition of insolvent savings and loan associations, it is likely to be viewed as a creative attempt at a solution. To best illustrate the novelty of Congress's approach, the ensuing sections begin with an explanation of federal tax law as it has evolved in the context of insolvency reorganizations.

Federal Income Tax Developments: 1981

Akron Law Review

The scope of this survey is limited to the substantive developments in the field of income taxation. The thrust of this article is not only to identify new developments, but also to trace these concepts through their formulative changes.

Individual, Couple Or Family? The Unit Of Taxation For Transfer Tax Purposes: A Shifting Focus, Anne-Marie Rhodes

Akron Law Review

This paper examines the shifting focus of the transfer tax system from the perspectives of the articulated primary purpose for the taxes and the appropriate unit of taxation given that purpose. The historical progression shows that as a sense of purpose became less clear, the unit of taxation similarly became less focused.

Internal Revenue Service Review Of Tax Accrual Workpapers United States V. Arthur Young & Co., Steven Dimengo

Akron Law Review

The broad summoning power of the Internal Revenue Service [IRS] which enables it to examine any documents related to a taxpayer's liability' was challenged in United States v. Arthur Young & Co. The major issue of the proceedings was whether tax accrual workpapers, prepared by a taxpayer's independent auditor during the course of an annual audit, were subject to disclosure to the IRS pursuant to a summons under section 7602 of the Internal Revenue Code of 1954. In reaching its holding, the Supreme Court had to determine whether tax accrual workpapers were relevant to an IRS inquiry within the meaning …

Federal Income Tax Developments: 1984, Merlin G. Briner, Richard J. Kovach, James W. Childs

Akron Law Review

FEDERAL INCOME TAX DEVELOPMENTS: 1984 is the twelfth in a series of articles published at The University of Akron School of Law. In keeping with the established format, the scope of this survey is limited to selected substantive developments in the field of income taxation.

Section 280a: Vacation Home And Rental Property, Craig Teller

Akron Law Review

In addition to the personal and business use of a unit, the rules under Internal Revenue Code Section 280A ("280A") also cover situations such as time-sharing arrangements, rental pools, shared equity financing deals and office-at-home deductions. Though 280A applies to individuals, partnerships, trusts, estates, and S Corporations, this comment assumes the "taxpayer" to be an individual taxpayer. This author will first analyze 280A to provide general guidance in the rental of a unit. After the overall analysis, the author will focus on the following rental situations:

1. Analysis of Personal Use.
2. Analysis of Rental Use.
3. Further Analysis of Allocating Rental & …

United States Trust Co. V. I.R.S., Scott D. Brackett

Akron Law Review

During the course of its administration, an estate may receive income that is subject to federal income tax. When, and if, an estate receives such income the executor is faced with the task of filing the estate's income tax return along with a number of related considerations. One of the more important considerations is the allocation of the burden of such tax between the beneficiaries of the estate and the estate itself.

Subchapter J of the Internal Revenue Code provides the mechanism to allocate that burden between the beneficiaries and the estate. Generally, Subchapter J attempts to allocate the tax …

Offshore Web-Based Gambling Accounts Are Subject To Fbar, Min (Megan) K. Park

The Contemporary Tax Journal

No abstract provided.

On The Federal Excise Tax Exemption For U.S. Gasoline Exports, Bret N. Bogenschneider

The Contemporary Tax Journal

No abstract provided.

Exile To Main Street: The I.R.S.'S Diminished Role In Overseeing Tax-Exempt Organizations, Evelyn Brody, Marcus Owens

Chicago-Kent Law Review

The Internal Revenue Service’s post-Citizens United approach to political activity by would-be tax-exempt organizations has threatened the financial health of the entire agency. Suffering from a siege mentality in the best of times, the IRS predictably and understandably responded to the asserted “scandal” by retreating into a shell of bureaucratic reshuffling, management mumbo-jumbo, and paper moving. A fresh cadre of senior management lacking relevant experience has overhauled the exempt-organization function and emphasized granting recognition of exemption now and (possibly) asking questions later. The new self-certification process of exemption for small charities could also be setting the agency up for the …

Politics, Disclosure, And State Law Solutions For 501(C)(4) Organizations, Linda Sugin

Chicago-Kent Law Review

Since the Supreme Court’s 2010 decision in Citizens United v. FEC, there has been an explosion in section 501(c)(4) organizations active in politics. Unable to effectively process applications, the IRS mishandled organizations with conservative political ties, producing a scandal from which the agency has yet to recover. It proposed regulations that would have helped it more easily determine eligibility for 501(c)(4) exemption, but after massive public outcry, the regulations were withdrawn. No new regulations will be proposed before the 2016 presidential election.

Given the federal government’s inability to address the problem of dark money politicking by 501(c)(4) organizations through …