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Full-Text Articles in Law
No Tax For "Phantom Income": How Congress Failed To Encourage Responsible Housing Consumption With Its Recent Tax Legislation, Rue Toland
Chicago-Kent Law Review
In the midst of the recent housing crisis, Congress passed two key pieces of federal tax legislation in an attempt to stem the tide of foreclosures and prevent further economic collapse. These two bills, the Mortgage Forgiveness Debt Relief Act in 2007 and the Housing and Economic Recovery Act in 2008, both sought competing goals: lessening the harm to existing homeowners, and encouraging purchases by new homebuyers. However, neither bill adequately addressed one of the root causes of the housing crisis, namely homeowners obtaining mortgages that, for whatever reason, they could not afford. Indeed, the tax incentives these bills created …
Curtailing The Economic Distortions Of The Mortgage Interest Deduction, William T. Mathias
Curtailing The Economic Distortions Of The Mortgage Interest Deduction, William T. Mathias
University of Michigan Journal of Law Reform
Many Americans consider the mortgage interest deduction a necessary fixture of the American tax system. In this Article, Mathias examines the economic underpinnings of the deduction and finds that it cannot be justified on purely economic grounds. He then evaluates the major policy arguments for the mortgage interest deduction and concludes that it is inefficient, inequitable, and too costly in its present form to be justified on policy grounds. Finally, the author advocates for the elimination or substantial reduction in the size and scope of the mortgage interest deduction.
Subordination Of Mortgages For Future Advances To Federal Tax Liens
Subordination Of Mortgages For Future Advances To Federal Tax Liens
Washington and Lee Law Review
No abstract provided.
The Income Tax Effect Of Mortgages, John W. Drye, Jr.
The Income Tax Effect Of Mortgages, John W. Drye, Jr.
Washington and Lee Law Review
No abstract provided.
The Taxation Of Real Estate Subject To Mortgage And Other Incumbrances, Robert C. Brown
The Taxation Of Real Estate Subject To Mortgage And Other Incumbrances, Robert C. Brown
Articles by Maurer Faculty
The purpose of this paper is to examine the method of taxing real estate which is affected by incumbrances-either physical or legal. In particular, it is desired to consider the situation where the incumbrance is a mortgage or otherwise purely for security. And particular consideration is to be given to the propriety of taxing as real estate the interest of a non-resident mortgagee or similar incumbrancer in land within the jurisdiction.