Law Commons^™

Determinantes Explícitos E Implícitos De La Deuda Externa Pública Peruana, José Manuel Martin Coronado

José-Manuel Martin Coronado

This research aims to prove that sound economic policies are nothing more that basic conditions for the foreign public debt problem. In fact, by studying the factors of public debt issues in Peru, Latin America and the emerging economies it’s clear that some implicit economic and non-economic factors have to be considered because of the social complexity and variable characteristics in emerging economies. This causes failures in economic policies assumptions, inefficiencies, distorted causality and nonrational behavior. This paper proposes, first, to perform a deep and comparative analysis of the foreign debt determinants in emerging economies, then, to allocate financial resources, …

The Doctrine Of Judicial Estoppel, Steve R. Johnson

Scholarly Publications

The doctrine of judicial estoppel is not on some lawyers’ radar screens. That’s regrettable. Not anticipating application of the rule, a person may make a claim that can hurt him or her in the long run. Or, unaware of the rule, a party may fail to assert a potentially successful defense. Or, having only a very general awareness of the rule, an attorney may miss subtleties or forum variations that are the difference between winning and losing.

This article has three parts. Part I describes the doctrine of judicial estoppel, emphasizing its purposes. Part II explores the recent judicial estoppel …

The 1998 Act And The Resources Link Between Tax Compliance And Tax Simplification, Steve R. Johnson

Scholarly Publications

Tax compliance sometimes is thought of as purely a matter of administration. But there are important connections between substance and procedure.' Both affect compliance. This article explores how simplification of the substantive tax law can improve compliance. The particular emphasis is on how simplification can liberate human and material resources for the IRS without which otherwise well conceived efforts to improve compliance are likely ultimately to fail.

Legislating Morality: The Duty To The Tax System Reconsidered, Watson

Scholarly Works

Four years ago, I presented a paper at a symposium on professionalism jointly sponsored by the University of Kansas Law School and the Kansas Bar Association. That paper espoused the view (contrary to what appears to be the popular view among tax scholars) that tax lawyers owe no special duty to the "tax system" other than to abide by the law and the applicable standards of professional conduct. During the four-year interim since my last visit to Kansas, however, we have witnessed the deleterious effect of the IRS Restructuring and Reform Act of 1998 (RRA '98) on IRS enforcement and …

U.S. Exemption/Territorial System Vs. Credit-Based System, Hugh Ault

Hugh J. Ault

No abstract provided.

Recent Developments In Federal Income Taxation, Ira B. Shepard, Mary Ann Cohen

William & Mary Annual Tax Conference

No abstract provided.

Taxation, Craig D. Bell

University of Richmond Law Review

No abstract provided.

The Internal Revenue Code As Sodomy Statute, Anthony C. Infanti

ExpressO

This essay attempts to bridge the gap between gay and straight understanding of the Internal Revenue Code’s impact on gay and lesbian couples. Through a combination of personal narrative and legal analysis, I try to explain how, from a gay perspective, the Code can be viewed as discriminating against gay and lesbian couples – regardless of whether, on a net basis, they are required to pay more or less tax than similarly-situated straight couples.

Inconceivable? Deducting The Costs Of Fertility Treatment, Katherine Pratt

ExpressO

No abstract provided.

Race-Conscious Affirmative Action By Tax Exempt 501(C)(3) Corporations After Grutter And Gratz, David A. Brennen

Scholarly Works

Part I of this Article examines how the Equal Protection Clause limits the government's ability to engage in race-based affirmative action. Part I focuses on how constitutional law analysis has evolved in light of the Supreme Court's recent decisions in Grutter v. Bollinger and Gratz v. Bollinger. Part II provides a brief description of tax law's public policy limitation. This part shows how the IRS, though not required to do so, has generally followed Equal Protection Clause jurisprudence when applying the public policy limitation to race-based activity by private tax exempt 501(c)(3) institutions. Part III discusses how the Supreme …

A Broader View Of Corporate Inversions: The Interplay Of Tax, Corporate And Economic Implications, Orsolya Kun

ExpressO

Multinational corporations have, in substantial numbers, moved their corporate residence from the U.S. to Bermuda, for the purpuse of minimizing U.S. taxation on their worldwide income. This study reviews the forms of these "corporate inversion transactions," and explores their tax implications, as well as their corporate governance implications and motivations. It is the first scholarly study to examine the corporate governance implications of inversions, and it concludes that previously unexplored aspects of the change of corporate domicile result in substantial reduction of accountability of directors and officers and significant impediments to enforcement of shareholder rights.

Tax Reality Bites, Jeffrey H. Kahn

Scholarly Publications

No abstract provided.

The Rational Exuberance Of Structuring Venture Capital Startups, Victor Fleischer

ExpressO

This Article takes the bursting of the dot com bubble as an opportunity to reevaluate the tax structure of venture capital startups. By organizing startups as corporations rather than as partnerships, investors and entrepreneurs seem to leave money on the table by failing to fully use tax losses -- especially since the vast majority of startups fail. Conventional wisdom attributes the lack of attention paid to losses to a "gambler's mentality" or optimism bias. I argue here that the use of the corporate form is, in fact, rational, or at least that there is a method to the madness.

I …

The Bonds Of Joint Tax Liability Should Not Be Stronger Than Marriage: Congressional Intent Behind § 6015(C) Separation Of Liability Relief, Svetlana G. Attestatova

Washington Law Review

Spouses who file joint tax returns are jointly and severally liable for any resulting tax deficiency. In the past, only innocent spouses—those with no knowledge of the tax understatement—could qualify for relief from such liability. In 1998, Congress expanded existing innocent spouse relief and added two new forms of relief—the separation of liability and discretionary relief provisions. Codified at 26 U.S.C. § 6015(c), separation of liability relief allocates items that give rise to a deficiency to each spouse as if they had filed separate returns, and is only available to spouses who are divorced, separated, or living apart. However, a …

Secondary Liability For Federal Trust Fund Taxes, Steve R. Johnson

Scholarly Publications

When collection of unpaid taxes cannot be effected from the person primarily liable for them, the Internal Revenue Code creates for the IRS a number of mechanisms for collection from secondary parties. To satisfy the requirements of fairness and due process, secondary liability is imposed only when the party has some nexus to the liability, that is, when that person's actions helped create the liability or frustrated its collection from the primary taxpayer.

This article discusses l.R.C. § 6672, one of the most widely used and important of the secondary liability mechanisms in tax. There are numerous § 6672 assessments …

The Canon That Tax Penalties Should Be Strictly Construed, Steve R. Johnson

Scholarly Publications

No abstract provided.

Manual De Derecho Procesal Civil, Edward Ivan Cueva

Edward Ivan Cueva

No abstract provided.

Taxing Sunny Days: Adjusting Taxes For Regional Living Costs And Amenities, Michael S. Knoll, Thomas D. Griffith

All Faculty Scholarship

Taxpayers pay tax on their nominal income without regard to their regional cost of living or the value of their regional amenities. Although commentators have argued that the income tax's failure to account for such differences is unfair - because residents of high-cost and low-amenity regions pay higher taxes than residents of low-cost and high-amenity regions - that argument is unpersuasive because migration tends to eliminate regional differences in living standards. The tax system's failure to adjust for regional differences is, however, likely to misallocate resources across regions in two ways. First, it is likely to discourage taxpayers from settling …

Expanding Health Flexible Spending Accounts To Reimburse Over-The-Counter Drugs: A Positive Move, Susan E. Cancelosi

Law Faculty Research Publications

No abstract provided.

Recent Cases, Law Review Editor

Vanderbilt Journal of Transnational Law

Remedies--Fair Labor Standards Act--Private Damage Suit Unavailable to Redress Violations of Child Labor Provisions of the Fair Labor Standards Act

Securities Regulation--Commercial Paper--Promissory Notes with Maturity Not Exceeding Nine Months but Offered to Public as Investment Are "Securities" Within Section 3(a)(10) of the 1934 Act.

Securities Regulation--Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5--A Reorganization in the Form of a Tripartite Merger in Which There Is No Change in the Total Assets Represented by a Share of Stock Does Not Involve a "Purchase or Sale" Within the Meaning of Section 10(b) of The Securities Exchange Act …

Myth Of Ownership / Myth Of Government, Jeffrey Schoenblum

Vanderbilt Law School Faculty Publications

Indisputably, the lives of all individuals, now and throughout history, have not been commensurate in every respect. No individual has the most of everything at all times - net worth, love, happiness, security, companionship, fame, food, land, grandchildren, or whatever else he or she values.1 Nevertheless, a utopian strain in intellectual thought, emanating as the Enlightenment afterglow,2 continues to place its faith in the public construction of an ersatz equality that has never existed naturally.3 The Myth of Ownership, a recent book by two New York University law/philosophy professors, Liam Murphy and Thomas Nagel, is a striking exemplar of this …

Options To Acquire Partnership Interests: Can The Tax Law Keep Pace?, Walter D. Schwidetzky

All Faculty Scholarship

It has become increasingly common for partnerships to issue options that give the holder the right to acquire an interest in the partnership for a set price. The holder of the option will exercise it if he feels that the partnership interest to be acquired is worth more than the exercise price. There is a dearth of authority on the federal tax treatment of option transactions, and the Service has recently asked for guidance from the tax bar as to what approach it should take. This article focuses on one piece of the partnership option puzzle, options to acquire partnership …

The Myth Of Pretax Income, Lawrence A. Zelenak

Faculty Scholarship

Reviewing, Liam Murphy & Thomas Nagel, The Myth of Ownership: Taxes and Justice (2002).

Incremental Versus Fundamental Tax Reform And The Top One Percent, Deborah A. Geier

Law Faculty Articles and Essays

This article describes the historical shift from consumption taxation at the federal level to income taxation with the enactment of the 16th amendment (the intent of which was chiefly to tax the capital income of the wealthy) and the incremental shifts since then back toward consumption taxation (which frees capital from tax) through expansion of both the payroll taxes as well as the consumption tax features of our current hybrid income/consumption tax that target the middle class.

It then addresses the issue of whether we ought to expand consumption tax treatment to the very wealthy by reviewing two recently published …

The Interplay Between Norms And Enforcement In Tax Compliance, Leandra Lederman

Articles by Maurer Faculty

What will increase individuals' compliance with the federal income tax? There are rich legal, economic, and sociological literatures examining this question. The traditional answer that increased enforcement will increase compliance is supported by both economic modeling and a number of experiments. However, studies show that appeals to normative beliefs about honesty in taxpaying play an important role as well.

A number of scholars have suggested that vigorous enforcement of the tax laws may be counterproductive because it may suggest that noncompliance is the norm. This article argues, in part, that enforcement and a compliance norm are not inconsistent but rather …

Tax Compliance And The Reformed Irs, Leandra Lederman

Articles by Maurer Faculty

The Internal Revenue Service Restructuring and Reform Act of 1998 directed the IRS to transform itself into an agency focused on "customers." What affect will such a focus on service have on compliance? This article analyzes not only the post-IRS reform statistics on enforced compliance but also considers the more important question of the likely impact of IRS friendliness on so-called "voluntary compliance."

Although some have suggested that a kinder IRS might prompt increased voluntary compliance, this article argues that it likely will not, based on the literature examining the impact on voluntary compliance of tax collector service to taxpayers …

Sustaining Progressivity In The Budget Process: A Commentary On Gale & (And) Orszag's An Economic Assessment Of Tax Policy In The Bush Administration, 2001-2004 The State Of Federal Income Taxation Symposium: Rates, Progressivity, And Budget Processes, Linda Sugin

Faculty Scholarship

This Commentary proposes the adoption of pay-go procedural rules for tax lawmaking that favor tax cuts that decrease income inequality, in response to biases in distributional tables and distortions in the political process. It suggests that the failure to use present value analysis in the budget process has had unfortunate, unintended consequences, in particular, a congressional preference for a prepaid-type consumption tax. This Commentary argues that efforts to index the Alternative Minimum Tax (the "AMT") should not deflect attention from the AMT's most fundamental distributional problem-its failure to treat dividends and capital gains as preference items. It suggests that there …

Simplifying The Transition To A (Progressive) Consumption Tax, Mitchell L. Engler, Michael S. Knoll

All Faculty Scholarship

No abstract provided.

Recent Developments In Federal Income Taxation: The Year 2002, Ira B. Shepard, Martin J. Mcmahon Jr.

UF Law Faculty Publications

This recent developments outline discusses, and provides context to understand the significance of, the most important judicial decisions and administrative rulings and regulations promulgated by the Internal Revenue Service and Treasury Department during 2002 - and sometimes a little farther back in time if we find the item particularly humorous or outrageous. Most Treasury Regulations, however, are so complex that they cannot be discussed in detail and, anyway, only a devout masochist would read them all the way through; just the basic topic and fundamental principles are highlighted. Amendments to the Internal Revenue Code generally are not discussed except to …

The Working Poor Are Paying For Government Benefits: Fixing The Hole In The Anti-Poverty Purse, Francine J. Lipman

Scholarly Works

No abstract provided.