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2017

Tax

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Articles 1 - 30 of 57

Full-Text Articles in Law

A Consumer Protection Rationale For Regulation Of Tax Return Preparers, Pippa Browde Dec 2017

A Consumer Protection Rationale For Regulation Of Tax Return Preparers, Pippa Browde

Marquette Law Review

Of the 150 million tax returns filed each year, approximately fifty-six percent are prepared with the help of a paid preparer. Although state-licensed lawyers and certified public accountants may prepare tax returns for clients, the vast majority of paid tax return preparers are completely unregulated. For low-income taxpayers who are eligible for refundable tax credits, these unregulated tax return preparers do more than just fill out tax returns. Return preparers who serve low-income taxpayers often also market consumer credit products, such as refund anticipation loans or checks.

Government agencies and consumer advocates have documented widespread problems with the tax return ...


The Unreasonable Case For A Reasonable Compensation Standard In The Public Company Context: Why It Is Unreasonable To Insist On Reasonableness, Stuart G. Lazar Nov 2017

The Unreasonable Case For A Reasonable Compensation Standard In The Public Company Context: Why It Is Unreasonable To Insist On Reasonableness, Stuart G. Lazar

Stuart Lazar

There is no question that corporate executives are well paid. But does high executive compensation mean excessive or unreasonable compensation? And if so, what is the solution to curbing the problem of excessive executive pay? More specifically, should the Internal Revenue Code be used as a means for regulating the actions of public companies?

This Article briefly explores these issues. In Part I, this Article provides a narrative of the excessive compensation debate. Without drawing a conclusion as to whether executive compensation is reasonably set or excessive in nature, Part I summarizes the history of public outrage surrounding executive pay ...


Business Lobbying As An Informational Public Good: Can Tax Deductions For Lobbying Expenses Promote Transparency?, Michael Halberstam, Stuart G. Lazar Nov 2017

Business Lobbying As An Informational Public Good: Can Tax Deductions For Lobbying Expenses Promote Transparency?, Michael Halberstam, Stuart G. Lazar

Stuart Lazar

The view that “lobbying is essentially an informational activity” has persistently served the suggestion that lobbying provides a public good by educating legislators about policy and the consequences of legislation. In this article, we link a proposed tax reform with a substantive disclosure requirement to promote the kind of “information subsidy” that serves the public interest, while mitigating – at least to some extent – the distortion that may result from the imbalance of financial resources on the business side and other institutional contraints identified in the literature. We argue that corporate lobbying should be encouraged – by allowing business to deduct lobbying ...


Collection Of Cryptocurrency Customer-Information: Tax Enforcement Mechanism Or Invasion Of Privacy?, Austin Elliott Nov 2017

Collection Of Cryptocurrency Customer-Information: Tax Enforcement Mechanism Or Invasion Of Privacy?, Austin Elliott

Duke Law & Technology Review

After granting permission to the Internal Revenue Service to serve a digital exchange company a summons for user information, the Federal District Court for the Northern District of California created some uncertainty regarding the privacy of cryptocurrencies. The IRS views this information gathering as necessary for monitoring compliance with Notice 2014-21, which classifies cryptocurrencies as property for tax purposes. Cryptocurrency users, however, view the attempt for information as an infringement on their privacy rights and are seeking legal protection. This Issue Brief investigates the future tax implications of Notice 2014-21 and considers possible routes the cryptocurrency market can take to ...


Taxing Systemic Risk, Eric D. Chason Nov 2017

Taxing Systemic Risk, Eric D. Chason

The University of New Hampshire Law Review

A tax on the harmful elements of finance—a tax on systemic risk—would raise revenue and also lower the likelihood of future crisis. Financial institutions, which pay the tax, would try to minimize its cost by lowering their systemic risk. In theory, a tax on systemic risk is perfect policy. In practice, however, this perfect policy is unattainable. Tax laws need clear definitions to be administrable. Our current understanding of systemic risk is too abstract and too metaphorical to serve as a target for taxation.

Despite the absence of a clear definition of systemic risk, academics and policy makers ...


Basr Partnership V. United States (Federal Circuit Amicus Brief), T. Keith Fogg Nov 2017

Basr Partnership V. United States (Federal Circuit Amicus Brief), T. Keith Fogg

W. Edward "Ted" Afield

No abstract provided.


Taxation, Craig D. Bell Nov 2017

Taxation, Craig D. Bell

University of Richmond Law Review

This article reviews significant recent developments in the laws

affecting Virginia state and local taxation. Each section covers

legislative activity, judicial decisions, and selected opinions or

pronouncements from the Virginia Tax Department (the "Tax

Department") and the Virginia Attorney General over the past

year.


Tax Policy Reform: Issues To Be Addressed To The Benefit Of All Missourians, Joel Walters Nov 2017

Tax Policy Reform: Issues To Be Addressed To The Benefit Of All Missourians, Joel Walters

The Business, Entrepreneurship & Tax Law Review

Tax policy impacts the everday decisions made by individuals, families, and businesses. Better tax policy can generate economic activity and lower the tax burden on individual taxpayers. Missouri Department of Revenue Director, Joel Walters, believes the current Missouri tax system can be changed in ways that would make it more simple, efficient, and fair. With this article, Director Walters seeks to engage Missourians in a dialogue about the strengths and weaknesses of the current tax policy environment in Missouri. The article comprhensively examines Missouri's tax system by discussing a wide variety of topics including corporate income tax, alternatives such ...


Annual Survey 2017: Table Of Contents Nov 2017

Annual Survey 2017: Table Of Contents

University of Richmond Law Review

No abstract provided.


Trending @ Rwu Law: Michael Bowden's Post: Celebrating Professor Tony Santoro 10-31-2017, Michael Bowden Oct 2017

Trending @ Rwu Law: Michael Bowden's Post: Celebrating Professor Tony Santoro 10-31-2017, Michael Bowden

Law School Blogs

No abstract provided.


The Copyright Box Model, Stephen T. Black Oct 2017

The Copyright Box Model, Stephen T. Black

Seattle University Law Review

Intellectual property law is territorial in nature. That is why intellectual property assets have always been favorites among international tax planners. Rapid appreciation, even faster transfer times, and a somewhat vague standard for appraisal and valuation make for an interesting field of play. Transfer the assets to a low tax jurisdiction before the appreciation begins, and you find yourself with a large income stream that is taxed at a low rate. Miss the beat, and you have a large tax hit. For these reasons, many nations have followed the lead of Ireland in providing for so-called “patent box” schemes. These ...


Newsroom: Is Wall Between Church And State Crumbling? 10-10-2017, Diana Hassel Oct 2017

Newsroom: Is Wall Between Church And State Crumbling? 10-10-2017, Diana Hassel

Life of the Law School (1993- )

No abstract provided.


Rwu First Amendment Blog: Diana Hassel's Blog: Is The Wall Between Church And State Crumbling? 10-07-2017, Diana Hassel Oct 2017

Rwu First Amendment Blog: Diana Hassel's Blog: Is The Wall Between Church And State Crumbling? 10-07-2017, Diana Hassel

Law School Blogs

No abstract provided.


Congressional Control Of Tax Rulemaking, Clint Wallace Oct 2017

Congressional Control Of Tax Rulemaking, Clint Wallace

Faculty Publications

The notice and comment process is often touted as a mechanism for establishing political accountability, and providing a check on agency decision-making. Based on a survey of three years of recently proposed tax regulations, this Article shows that many notice-and-comment processes for tax regulations have been ineffective for these purposes. Fully one-third of the time, no one participated. The few participants there are have been heavily weighted towards private interests, which commented on approximately two-thirds of all proposed regulations from 2013 through 2015. In contrast, public interest groups commented on less than 24% of proposed regulations. If the notice and ...


Law Library Blog (October 2017): Legal Beagle's Blog Archive, Roger Williams University School Of Law Oct 2017

Law Library Blog (October 2017): Legal Beagle's Blog Archive, Roger Williams University School Of Law

Law Library Newsletters/Blog

No abstract provided.


Open Source: The Enewsletter Of Rwu Law 09-22-2017, Roger Williams University School Of Law Sep 2017

Open Source: The Enewsletter Of Rwu Law 09-22-2017, Roger Williams University School Of Law

Life of the Law School (1993- )

No abstract provided.


The Carried Interest Standoff: Reaffirming Executive Agency Authority, Dean Galaro, Gregory S. Crespi Aug 2017

The Carried Interest Standoff: Reaffirming Executive Agency Authority, Dean Galaro, Gregory S. Crespi

SMU Law Review

This Article argues that, if reform is necessary, carried interest taxation should be amended by agency rulemaking and not by Congress. Much has already been said about carried interest, but this Article attempts to look through a new lens—legislative history. Carried interest presents a complicated question about the application of foundational partnership tax principles. It is an issue that has received popular attention only within the last decade. Since then, the face of reform has been efforts in Congress to pass an overly complex bill—Section 710. By looking back through the legislative history of carried interest, we begin ...


Can Sharing Be Taxed?, Shu-Yi Oei, Diane M. Ring Jul 2017

Can Sharing Be Taxed?, Shu-Yi Oei, Diane M. Ring

Shu-Yi Oei

In the past few years, we have seen the rise of a new model of production and consumption of goods and services, often referred to as the “sharing economy.” Fueled by startups such as Uber and Airbnb, sharing enables individuals to obtain rides, accommodations, and other goods and services from peers via personal computer or mobile application in exchange for payment. The rise of sharing has raised questions about how it should be regulated, including whether existing laws and regulations can and should be enforced in this new sector or whether new ones are needed. In this Article, we explore ...


Advocating For Clients Whose Debts Were Assigned By The Irs To A Private Collection Agency, Michael Baillif, Robert D. Probasco, Miranda Rhyne Jun 2017

Advocating For Clients Whose Debts Were Assigned By The Irs To A Private Collection Agency, Michael Baillif, Robert D. Probasco, Miranda Rhyne

Robert Probasco

No abstract provided.


Advocating For Your Client In Trade And Business Expense Cases - Hobby Losses, Rosty Shiller, Robert D. Probasco, Miranda Rhyne Jun 2017

Advocating For Your Client In Trade And Business Expense Cases - Hobby Losses, Rosty Shiller, Robert D. Probasco, Miranda Rhyne

Robert Probasco

No abstract provided.


Medical Deduction Allowed For In-Home Personal Use, Danny A. Pannese Jun 2017

Medical Deduction Allowed For In-Home Personal Use, Danny A. Pannese

Danny Pannese

The Tax Court held that payments made to an elderly woman's providers of personal care that she required due to her diminished capacity qualified as long-term-care services and were therefore deductible under IRC § 213(d)(1)(C). Lillian Baral was diagnosed with dementia by her physician in 2004. The court agreed with Baral's estate that the amounts paid to the caregivers for their services were deductible as qualified long-term-care services. Baral was chronically ill, and the care was medically necessary to protect her from threats to her health and safety, as determined by her physician. The court also ...


Larson V. United States (Second Circuit Court Of Appeals Brief), T. Keith Fogg Jun 2017

Larson V. United States (Second Circuit Court Of Appeals Brief), T. Keith Fogg

W. Edward "Ted" Afield

No abstract provided.


Recent Changes In Tax Law Create Opportunities To Better Serve International Slot Machine Players, Ashley Anne Lacher Jun 2017

Recent Changes In Tax Law Create Opportunities To Better Serve International Slot Machine Players, Ashley Anne Lacher

UNLV Gaming Law Journal

No abstract provided.


Taxing Marijuana: Earmarking Tax Revenue From Legalized Marijuana, Armikka R. Bryant May 2017

Taxing Marijuana: Earmarking Tax Revenue From Legalized Marijuana, Armikka R. Bryant

Georgia State University Law Review

This Article provides an overview of the legal, political, and societal landscapes in states that have legalized marijuana and imposed taxes on its sale. The article begins by summarizing the War on Drugs’ origins, its fiscal expenditures, and the social policies that ultimately led to its failure.

Part I briefly details the history of marijuana regulation starting from the early twentieth century up to the Obama administration’s decision to permit recreational marijuana laws to stand in Washington state and Colorado. Part II dives deeper into the social costs of the War on Drugs and outlines the hardships faced by ...


The Billionaire’S Treasure Trove: A Call To Reform Private Art Museums And The Private Benefit Doctrine, E. Alex Kirk May 2017

The Billionaire’S Treasure Trove: A Call To Reform Private Art Museums And The Private Benefit Doctrine, E. Alex Kirk

Fordham Intellectual Property, Media and Entertainment Law Journal

Thanks to the new generation of billionaire art collectors, and the recent boom in the art market, a growing number of high-net-worth patrons are creating their own tax-exempt private art museums. These “jewel-box” museums provide invaluable public benefits, lead to growth and innovation in the private museum sector, and encourage donors to pursue more avant-gardes collecting strategies. This advantageous tax-saving strategy appeals to wealthy individuals, who wish to maintain control over their art collection, and still receive generous charitable income tax deductions. However, several private museums have recently come under fire due to private benefit concerns. To qualify for federal ...


Newsroom: Donald Trump Vs. Roger Williams 05-09-2017, David Logan May 2017

Newsroom: Donald Trump Vs. Roger Williams 05-09-2017, David Logan

Life of the Law School (1993- )

No abstract provided.


Rwu First Amendment Blog: David A. Logan's Blog: Donald Trump Vs. Roger Williams 05-08-2017, David A. Logan May 2017

Rwu First Amendment Blog: David A. Logan's Blog: Donald Trump Vs. Roger Williams 05-08-2017, David A. Logan

Law School Blogs

No abstract provided.


Utilitarianism And Wealth Transfer Taxation, Jennifer Bird-Pollan May 2017

Utilitarianism And Wealth Transfer Taxation, Jennifer Bird-Pollan

Jennifer Bird-Pollan

This article is the third in a series examining the continued relevance and philosophical legitimacy of the United States wealth transfer tax system from within a particular philosophical perspective. The article examines the utilitarianism of John Stuart Mill and his philosophical progeny and distinguishes the philosophical approach of utilitarianism from contemporary welfare economics, primarily on the basis of the concept of "utility" in each approach. After explicating the utilitarian criteria for ethical action, the article goes on to think through what Mill's utilitarianism says about the taxation of wealth and wealth transfers, the United States federal wealth transfer tax ...


Through The Lens Of Complex Systems Theory: Why Regulators Must Understand The Economy And Society As A Complex System, James M. Giudice May 2017

Through The Lens Of Complex Systems Theory: Why Regulators Must Understand The Economy And Society As A Complex System, James M. Giudice

University of Richmond Law Review

No abstract provided.


Asymmetries In The Generation And Transmission Of Wealth, Felix B. Chang Apr 2017

Asymmetries In The Generation And Transmission Of Wealth, Felix B. Chang

Faculty Articles and Other Publications

This Article assigns a redistributive role to the legal rules of trusts and estates. Unlike business law, trusts and estates has lagged in articulating a comprehensive theory on inequality. Consequently, income inequality is compounded intergenerationally as wealth inequality, with dire consequences for economic productivity and social stability. To move the discourse on wealth inequality, this Article explores the divergent approaches toward inequality in business law and trusts and estates.

Additionally, this Article recasts trusts and estates’ legal rules as wealth transfer mechanisms. Four categories of rules are implicated: (1) rules that interact with the tax system, (2) rules that govern ...