Law Commons^™

Proposed 2009 Regulations Dealing With § 356 Nonrecognition Rules Should Be Given The Boot, Terri Guinn

San Diego Law Review

"Fire, Aim, Ready!" Could this be the approach taken by the Internal Revenue Service (the Service) in its attempt to finalize regulations, proposed more than two years ago, that would specify a new method for determining a shareholder's taxable gains and losses in certain reorganization transactions? Has the Service decided to elevate theory over practicality without thinking through all of the ramifications of these regulations? Finalizing these proposed regulations in their current form may have serious unintended consequences. As drafted, they miss their intended mark by inadvertently creating a loophole whereby some shareholders could take immediate losses on some of …

Recent Developments Concerning The Estate Tax Inclusion Of Transfers To A Family Limited Partnership, Brent B. Nicholson

Akron Tax Journal

After a brief examination of the statutory and regulatory background, this paper will summarize the significant cases prior to Shurtz, the significant cases in the last year, discuss the facts and holdings of Shurtz, and then outline the coordinates that have emerged to guide taxpayers

Recovery Of Interest On A Tax Underpayment Caused By A Tax Advisor's Negligence, Jacob L. Todres

Akron Tax Journal

In my view, this area is relatively straightforward. There are three views that have developed. Once the views are apprehended, it should be relatively easy for a court to choose which view to follow. By presenting and analyzing the three views, this area will be appropriately elucidated and subsequently given the thoughtful attention it warrants.

In Part II, I will focus upon each of the three views and explore the rationale for each view. In Part III, I will trace the development of each of the views, especially the minority view and more modem, intermediate view. The goal of this …

Shifting The Paradigm By Bringing Tax Arbitrage To The Lower Income Separated Family: Why Should The Middle To Upper Class Family Have All The Fun?, Reginald Mombrun

Akron Tax Journal

The background for this article is, of course, the duty of parents to provide sustenance for their children, a duty that necessarily survives the break-up of the family. In this article, I continue to address the problems of the child support system, and I continue to take a holistic view of the problem. A fundamental concept of family law is that the system must do what is in the best interests of the child. Few people will disagree with the soundness of this fundamental concept. However, the problem lies with its application. Although counterintuitive, focusing solely on the child to …

Informal Claims For Refund - A Winding Road, William A. Neilson

Akron Tax Journal

In reviewing the manner in which courts have interpreted [the informal claim] doctrine, it appears that the doctrine can be more effective if steps are taken to create a definite set of rules for the doctrine's application, and if those rules are incorporated into the IRC or Treasury regulations. This Article, after briefly reviewing the history of the informal claim doctrine and its current form, will discuss the possibility of creating such rules.

From The Great Depression To The Current Housing Crisis: What Code Section 108 Tells Us About Congress's Response To Economic Crisis, Monica D. Armstrong

Akron Tax Journal

This article will explore the development of section 108, using the three major economic crises mentioned above as a timeline. Part II discusses the judicial debate of whether gross income should include discharge of indebtedness. Part III discusses the development of the insolvency exception following the Supreme Court's decision in Kirby Lumber, which held that gross income includes discharge of indebtedness. More specifically, it provides a discussion of court decisions that carved out exceptions to Kirby Lumber to provide tax relief to struggling businesses impacted by the Great Depression. This part closes with a discussion of the codification of the …

Circular 230: New Rules Governing Practice Before The Irs., C. John Muller Iv

St. Mary's Journal on Legal Malpractice & Ethics

This Article addresses the issue of tax preparer oversight. Currently, anyone may prepare a tax return for a fee. However, those preparers who are not lawyers, certified public accountants, or authorized to practice before the IRS are not required to meet a minimum standard of education, knowledge, training, or skill. After recent government studies revealed that these non-trained tax return preparers were making costly, egregious mistakes, the IRS proposed mandating oversight over any individual who prepares a tax return for compensation. This Article discusses, in depth, the Department of the Treasury's proposed regulations to broaden the authorities of IRS Circular …

Free Rider: A Justification For Mandatory Medical Insurance Under Health Care Reform?, Jeffrey H. Kahn, Douglas A. Kahn

Scholarly Publications

Section 1501 of the Patient Protection and Affordable Care Act added section 5000A to the Internal Revenue Code to require most individuals in the United States, beginning in the year 2014, to purchase an established minimum level of medical insurance. This requirement, which is enforced by a penalty imposed on those who fail to comply, is sometimes referred to as the “individual mandate.” The individual mandate is one element of a vast change to the provision of medical care that Congress implemented in 2010. The individual mandate has proved to be controversial and has been the subject of a number …

Charities And Lobbying: Institutional Rights In The Wake Of Citizens United, Lloyd Hitoshi Mayer

Journal Articles

One of the many aftershocks of the Supreme Court’s landmark decision in Citizens United v. FEC is that the decision may raise constitutional questions for the long-standing limits on speech by charities. There has been much scholarly attention both before and after that decision on the limit for election-related speech by charities, but much less attention has been paid to the relating lobbying speech limit. This article seeks to close that gap by exploring that latter limit and its continued viability in the wake of Citizens United. I conclude that while Citizens United by itself does not undermine the limit …

Tefra-Partnership Refunds: Five Steps To Protect A Partner’S Rights, Mary A. Mcnulty, Robert D. Probasco, Carla C. Crapster

Faculty Scholarship

The Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) established a unified procedure for determining the tax treatment of partnership items at the partnership level rather than the partner level. The TEFRA-partnership refund procedures differ from the refund claim procedures that apply to other taxpayers. For a TEFRA partnership, a refund claim is an administrative adjustment request (AAF) and a notice of deficiency is a notice of final partnership administrative adjustment (FPAA). Procedures for the assessment of additional tax attributable to partnership items have received much attention in recent years, but the procedures concerning refunds are complex and full …