Law Commons^™

Charitable Deductions For Rail-Trail Conversions: Reconciling The Partial Interest Rule And The National Trails System Act, Scott Bowman, Danaya Wright

Danaya C. Wright

This Article examines an undeveloped legal topic at the intersection of tax law and real property law: charitable deductions from income tax liability for donations of railroad corridors that are to be converted into recreational trails. The very popular rails-to-trails program assists in the conversion of abandoned railroad corridors into hiking and biking trails. However, the legal questions surrounding the property rights of these corridors have been complex and highly litigated. In 1983, Congress amended the National Trails System Act to provide a mechanism for facilitating these conversions, a process called railbanking. In essence, a railroad transfers its real property …

High-Profile, Low-Profile And Hidden Need Organizations: Understanding The Effects Of An Economic Downturn On Charitable Contributions, Grace S. Lee

Grace S Lee

Charitable giving has been a foundation of American society almost since the nation began, but the issue of how such giving should be treated for tax purposes has been the subject of frequent debate. Scholars have proposed various theories explaining why the positive effects of this deduction on both donors and donees outweigh the negative impact on government coffers of this tax expenditure, although many still criticize certain features of the deduction in its current form. However, one area of this research that has previously been neglected is how the charitable sector is affected by changes to the economy at …

Mitigating The Effects Of An Economic Downturn On Charitable Contributions: Facing The Problem And Contemplating Solutions, Grace S. Lee

Grace S Lee

Charitable giving has been a foundation of American society almost since the nation began, but the issue of how such giving should be treated for tax purposes has been the subject of frequent debate. Scholars have proposed various theories explaining why the positive effects of this deduction on both donors and donees outweigh the negative impact on government coffers of this tax expenditure, although many still criticize certain features of the deduction in its current form. However, one area of this research that has previously been neglected is how the charitable sector is affected by changes to the economy at …

Not All Defined Value Clauses Are Equal, Wendy Gerzog

Wendy Gerzog

Defined value clauses used to value nonmarketable family limited partnership (FLP) interests create valuation distortions and other public policy issues. This paper describes these abuses and proposes the employment of restrictions similar to those applied to pecuniary formula marital deduction clauses.

The article explains how pecuniary formula marital deduction provisions created valuation distortions by allowing for undervaluation of the marital share that were remedied by the IRS’s Rev. Proc. 64-19 and the enactment of section 2056(b)(10). The article analyzes recent case law expanding the use of defined value clauses into the FLP area and criticizes the courts for not applying …

Not All Defined Value Clauses Are Equal, Wendy Gerzog

Wendy Gerzog

Defined value clauses used to value nonmarketable family limited partnership (FLP) interests create valuation distortions and other public policy issues. This paper describes these abuses and proposes the employment of restrictions similar to those applied to pecuniary formula marital deduction clauses.

The article explains how pecuniary formula marital deduction provisions created valuation distortions by allowing for undervaluation of the marital share that were remedied by the IRS’s Rev. Proc. 64-19 and the enactment of section 2056(b)(10). The article analyzes recent case law expanding the use of defined value clauses into the FLP area and criticizes the courts for not applying …

Not All Defined Value Clauses Are Equal, Wendy Gerzog

Wendy Gerzog

Defined value clauses used to value nonmarketable family limited partnership (FLP) interests create valuation distortions and other public policy issues. This paper describes these abuses and proposes the employment of restrictions similar to those applied to pecuniary formula marital deduction clauses.

The article explains how pecuniary formula marital deduction provisions created valuation distortions by allowing for undervaluation of the marital share that were remedied by the IRS’s Rev. Proc. 64-19 and the enactment of section 2056(b)(10). The article analyzes recent case law expanding the use of defined value clauses into the FLP area and criticizes the courts for not applying …

Not All Defined Value Clauses Are Equal, Wendy Gerzog

Wendy Gerzog

Defined value clauses used to value nonmarketable family limited partnership (FLP) interests create valuation distortions and other public policy issues. This paper describes these abuses and proposes the employment of restrictions similar to those applied to pecuniary formula marital deduction clauses. The article explains how pecuniary formula marital deduction provisions created valuation distortions by allowing for undervaluation of the marital share that were remedied by the IRS’s Rev. Proc. 64-19 and the enactment of section 2056(b)(10). The article analyzes recent case law expanding the use of defined value clauses into the FLP area and criticizes the courts for not applying …

Mitigating The Effects Of An Economic Downturn On Charitable Contributions: Facing The Problem And Contemplating Solutions, Grace S. Lee

Grace S Lee

Charitable giving has been a foundation of American society almost since the nation began, but the issue of how such giving should be treated for tax purposes has been the subject of frequent debate. Scholars have proposed various theories explaining why the positive effects of this deduction on both donors and donees outweigh the negative impact on government coffers of this tax expenditure, although many still criticize certain features of the deduction in its current form. However, one area of this research that has been neglected is how the charitable sector is affected by changes to the economy at large. …

Mitigating The Effects Of An Economic Downturn On Charitable Contributions: Facing The Problem And Contemplating Solutions, Grace S. Lee

Grace S Lee

Charitable giving has been a foundation of American society almost since the nation began, but the issue of how such giving should be treated for tax purposes has been the subject of frequent debate. Scholars have proposed various theories explaining why the positive effects of this deduction on both donors and donees outweigh the negative impact on government coffers of this tax expenditure, although many still criticize certain features of the deduction in its current form. However, one area of this research that has been neglected is how the charitable sector is affected by changes to the economy at large. …

Mitigating The Effects Of An Economic Downturn On Charitable Contributions: Facing The Problem And Contemplating Solutions, Grace S. Lee

Grace S Lee

Charitable giving has been a foundation of American society almost since the nation began, but the issue of how such giving should be treated for tax purposes has been the subject of frequent debate. Scholars have proposed various theories explaining why the positive effects of this deduction on both donors and donees outweigh the negative impact on government coffers of this tax expenditure, although many still criticize certain features of the deduction in its current form. However, one area of this research that has been neglected is how the charitable sector is affected by changes to the economy at large. …

Mitigating The Effects Of An Economic Downturn On Charitable Contributions: Facing The Problem And Contemplating Solutions, Grace S. Lee

Grace S Lee

Charitable giving has been a foundation of American society almost since the nation began, but the issue of how such giving should be treated for tax purposes has been the subject of frequent debate. Scholars have proposed various theories explaining why the positive effects of this deduction on both donors and donees outweigh the negative impact on government coffers of this tax expenditure, although many still criticize certain features of the deduction in its current form. However, one area of this research that has been neglected is how the charitable sector is affected by changes to the economy at large. …

Mitigating The Effects Of An Economic Downturn On Charitable Contributions: Facing The Problem And Contemplating Solutions, Grace S. Lee

Grace S Lee

Charitable giving has been a foundation of American society almost since the nation began, but the issue of how such giving should be treated for tax purposes has been the subject of frequent debate. Scholars have proposed various theories explaining why the positive effects of this deduction on both donors and donees outweigh the negative impact on government coffers of this tax expenditure, although many still criticize certain features of the deduction in its current form. However, one area of this research that has been neglected is how the charitable sector is affected by changes to the economy at large. …

Mitigating The Effects Of An Economic Downturn On Charitable Contributions: Facing The Problem And Contemplating Solutions, Grace S. Lee

Grace S Lee

Charitable giving has been a foundation of American society almost since the nation began, but the issue of how such giving should be treated for tax purposes has been the subject of frequent debate. Scholars have proposed various theories explaining why the positive effects of this deduction on both donors and donees outweigh the negative impact on government coffers of this tax expenditure, although many still criticize certain features of the deduction in its current form. However, one area of this research that has been neglected is how the charitable sector is affected by changes to the economy at large. …

Mitigating The Effects Of An Economic Downturn On Charitable Contributions: Facing The Problem And Contemplating Solutions, Grace S. Lee

Grace S Lee

Charitable giving has been a foundation of American society almost since the nation began, but the issue of how such giving should be treated for tax purposes has been the subject of frequent debate. Scholars have proposed various theories explaining why the positive effects of this deduction on both donors and donees outweigh the negative impact on government coffers of this tax expenditure, although many still criticize certain features of the deduction in its current form. However, one area of this research that has been neglected is how the charitable sector is affected by changes to the economy at large. …

Mitigating The Effects Of An Economic Downturn On Charitable Contributions: Facing The Problem And Contemplating Solutions, Grace S. Lee

Grace S Lee

Charitable giving has been a foundation of American society almost since the nation began, but the issue of how such giving should be treated for tax purposes has been the subject of frequent debate. Scholars have proposed various theories explaining why the positive effects of this deduction on both donors and donees outweigh the negative impact on government coffers of this tax expenditure, although many still criticize certain features of the deduction in its current form. However, one area of this research that has been neglected is how the charitable sector is affected by changes to the economy at large. …

Mitigating The Effects Of An Economic Downturn On Charitable Contributions: Facing The Problem And Contemplating Solutions, Grace S. Lee

Grace S Lee

Charitable giving has been a foundation of American society almost since the nation began, but the issue of how such giving should be treated for tax purposes has been the subject of frequent debate. Scholars have proposed various theories explaining why the positive effects of this deduction on both donors and donees outweigh the negative impact on government coffers of this tax expenditure, although many still criticize certain features of the deduction in its current form. However, one area of this research that has been neglected is how the charitable sector is affected by changes to the economy at large. …

Mitigating The Effects Of An Economic Downturn On Charitable Contributions: Facing The Problem And Contemplating Solutions, Grace S. Lee

Grace S Lee

Charitable giving has been a foundation of American society almost since the nation began, but the issue of how such giving should be treated for tax purposes has been the subject of frequent debate. Scholars have proposed various theories explaining why the positive effects of this deduction on both donors and donees outweigh the negative impact on government coffers of this tax expenditure, although many still criticize certain features of the deduction in its current form. However, one area of this research that has been neglected is how the charitable sector is affected by changes to the economy at large. …

Mitigating The Effects Of An Economic Downturn On Charitable Contributions: Facing The Problem And Contemplating Solutions, Grace S. Lee

Grace S Lee

Charitable giving has been a foundation of American society almost since the nation began, but the issue of how such giving should be treated for tax purposes has been the subject of frequent debate. Scholars have proposed various theories explaining why the positive effects of this deduction on both donors and donees outweigh the negative impact on government coffers of this tax expenditure, although many still criticize certain features of the deduction in its current form. However, one area of this research that has been neglected is how the charitable sector is affected by changes to the economy at large. …

Mitigating The Effects Of An Economic Downturn On Charitable Contributions: Facing The Problem And Contemplating Solutions, Grace S. Lee

Grace S Lee

Charitable giving has been a foundation of American society almost since the nation began, but the issue of how such giving should be treated for tax purposes has been the subject of frequent debate. Scholars have proposed various theories explaining why the positive effects of this deduction on both donors and donees outweigh the negative impact on government coffers of this tax expenditure, although many still criticize certain features of the deduction in its current form. However, one area of this research that has been neglected is how the charitable sector is affected by changes to the economy at large. …

The Economics Of Section 170: A Case For The Charitable Deduction Of Parochial School Tuition, Meir Katz

Meir Katz

That payments for parochial school tuition are not deductible under Section 170 of the Internal Revenue Code is a foregone conclusion in the eyes of many tax policy scholars. Tuition provides an easy case because the donor receives something of great value in return for his donation: the education of his children. This Article questions that conclusion. By taking a close look at the economics behind these tuition payments in the context of a discrete population, the religious Jewish community, I show that traditional economic assumptions are inappropriate for analysis of those payments. Rather than a traditional economic exchange for …