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 …

Reframing Economic Substance, Karen C. Burke

UF Law Faculty Publications

Under the economic substance doctrine as codified in 26 U.S.C. § 7701(o), legislatively unintended tax benefits may be disallowed if a transaction lacks a substantial business purpose or fails to accomplish a meaningful change in the taxpayer's economic position. In a recent article on framing the “transaction” in economic substance cases, David Hariton makes three interrelated points. First, he observes that even though the judicial outcome may depend largely on how the relevant transaction is framed, few courts have explicitly focused on the framing issue. Second, he proposes that courts should presumptively frame the underlying transaction broadly by focusing on …

Fair Representation In The South Carolina Corporate Income Tax: Combined Reporting As Equiatable Apportionment After Media General Communications, Inc. V. South Carolina Department Of Revenue, Richard I. Simons

South Carolina Law Review

No abstract provided.

Tax Deductions Of Palimony Arrangements, Kimberly Stanley

Publications

Ninth Circuit finds that for a tax deduction, consideration must be evaluated under federal tax law, not state contract law, explains Kimberly Stanley of Golden Gate University School of Law.

Tax Deregulation, Steven Dean

Faculty Scholarship

Deregulation has played both the hero and the villain in recent years. This Article evaluates the impact of deregulation on what may be the single most economically important regulatory regime: the income tax. In order to accomplish this goal, it applies the concepts of fiscal arbitrage and compliance spirals to three deregulatory tax reforms. Compliance spirals describe an enforcement dynamic in which the regulator encourages compliance through a system of rewards for cooperation and punishment for noncooperation. Fiscal arbitrage describes policy measures that exploit cognitive biases and other anomalies to deliver political benefits by using minimal political capital. The combination …

Fair Market Value In The Tax Law: Replacement Value Or Liquidation Value, Daniel Goldberg

Daniel S. Goldberg

No abstract provided.

Constitutional Challenges To The Health Care Mandate: Based In Politics, Not Law, David Orentlicher

Scholarly Works

No abstract provided.

Recent Developments In Federal Income Taxation: The Year 2010, Martin J. Mcmahon Jr., Ira B. Shepard, Daniel L. Simmons

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 the year 2010--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--unless one of us decides to go nuts and spend several pages writing …

From Programmatic Reform To Social Science Research: The National Tax Association And The Promise And Perils Of Disciplinary Encounters, Ajay K. Mehrotra, Joseph J. Thorndike

Articles by Maurer Faculty

This article uses the history of the National Tax Association (NTA), the leading twentieth-century organization of tax professionals, to strengthen our empirical understanding of the disciplinary encounter between law and the social sciences. Building on existing sociolegal scholarship, this article explores how the NTA embodied tax law's ambivalent historical interaction with public economics. Since its founding in 1907, the NTA has changed dramatically from an eclectic and catholic organization of tax professionals with a high public profile to an insular, scholarly association of mainly academic public finance economists. Using a mix of quantitative and qualitative historical evidence, we contend that …

Organizational Representation And The Frontiers Of Gatekeeping, William H. Simon

Faculty Scholarship

I spend more than half of my Professional Responsibility (“PR”) survey course discussing issues distinctive to organizational clients. I do so in part to take into account the realities of practice. If we can generalize from John Heinz and Edward Laumann’s Chicago study, about sixty-five percent of lawyering time is devoted to organizational clients. Yet, the PR issues involved in representing organizational clients occupy a comparatively small portion of legal doctrine, casebooks, and scholarship.

Another reason I emphasize organizational clients is that recent developments in this sphere, especially in securities and tax, have great general interest.