Open Access. Powered by Scholars. Published by Universities.®
- Discipline
- Publication
Articles 1 - 2 of 2
Full-Text Articles in Law
A Human Capital Theory Of Alimony And Tax, Tessa R. Davis
A Human Capital Theory Of Alimony And Tax, Tessa R. Davis
Faculty Publications
The current taxation of alimony is a broken scheme. Severed from any strong theoretical mooring, it draws lines in the sand between property settlement, child support, and alimony. The lack of coherence between the substance of alimony in family law and the tax concept of alimony (“tax alimony”) could be justified on other policy grounds, however. Yet current law, which allows the payor a deduction under §215 and requires inclusion by the recipient per §71, is difficult to interpret, resulting in frequent litigation and costly noncompliance. In short, the current concept of tax alimony fails to satisfy any of the …
The Misconstruction Of The Deductions For Business And Personal Casualty Losses, Jeffrey H. Kahn
The Misconstruction Of The Deductions For Business And Personal Casualty Losses, Jeffrey H. Kahn
Scholarly Publications
Losses suffered on an individual's personally used property generally are not deductible. Even after the changes made by the 2017 Tax Cuts and Jobs Act, in two circumstances an exception to this rule applies when "such losses arise from.fire, storm, shipwreck, or other casualty, or from theft." The principal issue that arises is determining the meaning of the term "other casualty." Taking what they deemed to be the common elements in the three explicitly identified casualties, the courts and the Internal Revenue Service determined that an event will qualify as an "other casualty" only if it is "sudden," "unusual," and …