Accounting Law Commons^™

Pengaturan Pertanggungjawaban Mutlak Wajib Pajak Di Indonesia Dalam Perspektif Keadilan Dan Kemanfaatan Umum, Henry Dianto Pardamean Sinaga

Jurnal Hukum & Pembangunan

The increasing of tax evasion and tax avoidance, due to lack of taxpayer’s liability regulation in tax legislation, has been very detrimental to state revenues. Based on normative juridical research with descriptive-comparative-prescriptive approach which has been done, it is concluded that the regulation of strict liability of taxpayers of Indonesia can: 1) fulfill the sense of justice in terms of equality and or fairness as long as it meets the condition that reflects of material justice and formal justice which must be regulated explicitly in tax legislation; and 2) provide public benefit to the state in handling the social welfare …

Tinjauan Yuridis Pertanggungjawaban Hukum Kartu Kredit Pemerintah Di Indonesia, Shandy Aditya Pratama, Abdul Salam

Jurnal Hukum & Pembangunan

Government credit cards are new products whose applications are currently being piloted by the Directorate General of State Treasury to a number of work units and government institutions. This credit card is intended for government employees as a means of payment in order to use inventory money. Based on the Regulation of the Director General of Treasury No. PER-17/PB/2017, sanctions imposed on misuse of government credit cards are only by giving a warning letter and revocation of the credit card. By examining the elements of legal liability, this paper shows what sanctions can actually be imposed for misuse of government …

Table Of Contents, Seattle University Law Review

Seattle University Law Review

No abstract provided.

The Professor Anthony J. Santoro Business Law Lecture Series Presents Becoming A Valued Business Lawyer, Roger Williams University School Of Law, Michael M. Bowden

School of Law Conferences, Lectures & Events

No abstract provided.

Jpmorgan Chase London Whale F: Required Securities Disclosures, Arwin G. Zeissler, Giulio Girardi, Andrew Metrick

Journal of Financial Crises

On April 13, 2012, JPMorgan Chase (JPM) Chief Financial Officer Douglas Braunstein took part in a conference call to discuss the bank’s first quarter 2012 earnings. Coming just a week after media reports first questioned the risks taken by JPM derivatives trader Bruno Iksil, Braunstein made a series of assertions about the trades. On May 10, JPM finalized its first quarter financial results, which included some disclosures regarding Iksil’s trading that were substantially different from Braunstein’s statements of April 13. At issue is whether the regulatory filings on April 13 and May 10, as well as verbal comments by Braunstein …

Jpmorgan Chase London Whale B: Derivatives Valuation, Arwin G. Zeissler, Andrew Metrick

Journal of Financial Crises

After consistently producing positive results through 2011, the JPMorgan Chase (JPM) traders who oversaw the bank’s Synthetic Credit Portfolio (SCP) grew alarmed by a consistent string of losses beginning in January 2012. (The SCP was maintained by JPM to help hedge default risk and was the source of the 2012 London Whale trading loss.) To minimize the losses reported to their superiors until such time that market prices hopefully turned in their favor, the SCP traders began valuing their largest derivative positions in a manner that was not consistent with Generally Accepted Accounting Principles (GAAP) and JPM policy. The fair …

California Board Of Accountancy, Brian Attard, Betsy Gopinath

California Regulatory Law Reporter

No abstract provided.

Equal Protection Supreme Court Appellate Division Third Department

Touro Law Review

No abstract provided.

California Board Of Accountancy, Brian Attard, Debra Jorgensen

California Regulatory Law Reporter

No abstract provided.

Directed Gifts, Love Offerings And The Uncertain Guidance Of Irs Publication 526 For Donors And Donees To Non-Profit Organizations: Literature Review, Victoria Liggett

Honors College Theses

Love offerings are donations given to an identified beneficiary of a non-profit organization. It can be challenging for tax experts to make accurate tax assessments based on such offerings and enormously difficult for the layperson. This is exacerbated by the unclear directives of the IRS, which include the sometimes nearly inscrutable guidelines of IRS Publication 526. The lack of clarity makes this a hazard for accountants and attorneys involved in tax preparation. Against this backdrop, this paper provides a literature review exploring the history of the issues, current guidelines as decided by court cases, and research done with regards to …

Treating Apples Like Oranges: The Benefits Of Exempting Community Banks From The Volcker Rule, Gregory Butz

Texas A&M Law Review

In response to the Financial Crisis of 2008 and the Great Recession that followed, Congress passed the Dodd–Frank Wall Street Reform and Con- sumer Protection Act in 2010. The Volcker Rule is a controversial section of the Dodd–Frank Act that prohibits all banks, no matter their size, from pro- prietary trading and entering into certain relationships with private equity funds. But the Volcker Rule forces banks to incur significant costs to ensure compliance. While Big Banks have the capital and infrastructure to comply with the Volcker Rule, small Community Banks often do not. This gives Big Banks an unfair competitive …

Table Of Contents, Seattle University Law Review

Seattle University Law Review

No abstract provided.

Navigating Sino-American Business Relationships, Ryan Stenquist

Marriott Student Review

Relationships between American and Chinese companies have never been more important or profitable as they are now. With linguistic, moral, governmental, and legal systems developed entirely independent of each other for thousands of years, these relationships also prove the most difficult and complex to navigate. This article explores mistakes foreigners often make while doing business in China, the current environment and culture of joint ventures with native Chinese, and how to succeed in the challenging yet rewarding economy now opening up to the world.

Exploring The Legal Issues Of Blockchain Applications, Nathan Fulmer

Akron Law Review

A decade ago, blockchain technology made its mainstream debut with the introduction of Bitcoin, a cryptocurrency that has generated a lot of buzz in the financial sector. Blockchain’s elegantly simple way of securely and reliably recording data gives the technology the power to disrupt multiple industries. Cryptocurrencies and smart contracts are blockchain’s most common applications, but it can be implemented in a variety of ways.

This article examines blockchain’s core characteristics and mechanics as they apply to its common applications like cryptocurrency and smart contracts, as well as other transactional uses. The author presents some of the legal issues that …

Regulating Offshore Finance, William J. Moon

Faculty Scholarship

From the Panama Papers to the Paradise Papers, massive document leaks in recent years have exposed trillions of dollars hidden in small offshore jurisdictions. Attracting foreign capital with low tax rates and environments of secrecy, a growing number of offshore jurisdictions have emerged as major financial havens hosting thousands of hedge funds, trusts, banks, and insurance companies.

While the prevailing account has examined offshore financial havens as “tax havens” that facilitate the evasion or avoidance of domestic tax, this Article uncovers how offshore jurisdictions enable corporations to evade domestic regulatory law. Specifically, recent U.S. Supreme Court cases restricting the geographic …

Relationships Between Corporate Inversions And The Tax Cuts & Jobs Act, Sedona L. Clothier

Honors Theses and Capstones

No abstract provided.

Spotify’S Direct Listing: Is It A Recipe For Gatekeeper Failure?, Brent J. Horton

SMU Law Review

On April 3, 2018, Spotify Technology S.A.—a music streaming company valued in excess of $20 billion—went public by direct listing on the New York Stock Exchange (NYSE).A direct listing is distinguishable from the more traditional initial public offering (IPO) in a number of ways, but the most important for purposes of this Article is that it foregoes the traditional underwriter.

First, this Article explains direct listings, why a company would choose to go public by direct listing, and the mechanics of a direct listing.

Second, this Article explains that a direct listing—with its reliance on a financial advisor to shepherd …

The Promises And Perils Of Using Big Data To Regulate Nonprofits, Lloyd Histoshi Mayer

Journal Articles

For the optimist, government use of “Big Data” involves the careful collection of information from numerous sources. The government then engages in expert analysis of those data to reveal previously undiscovered patterns. Discovering patterns revolutionizes the regulation of criminal behavior, education, health care, and many other areas. For the pessimist, government use of Big Data involves the haphazard seizure of information to generate massive databases. Those databases render privacy an illusion and result in arbitrary and discriminatory computer-generated decisions. The reality is, of course, more complicated. On one hand, government use of Big Data may lead to greater efficiency, effectiveness, …

Symposium: The Future Of The New International Tax Regime, Rosanne Altshuler, Fadi Shaheen, Jeffrey Colon, Michael Graetz, Rebecca Kysar, Susan Morse, Daniel Shaviro, Richard Phillips, Daniel Rolfes, Daniel Rosenbloom, Stephen Shay, Steven Dean

Faculty Scholarship

The symposium was held at Fordham University School of Law on October 26, 2018. It has been edited to remove minor cadences of speech that appear awkward in writing and to provide sources and references to other explanatory materials in respect to certain statements made by the speakers.

Legislative Foundation Of The United States' New International Tax System, Joshua D. Harms

Seattle University Law Review

This Note begins with commentary on the United States’ former worldwide system of taxation. This system taxed multinational corporations’ offshore profits at the applicable domestic income tax rate less credits for taxes paid to foreign governments. This tax regime provided for the deferral of income tax due on the profits of multinational corporations’ overseas operations until the time of repatriation. This Note considers the issues inherent in this system and analyzes the repatriation tax holiday under the American Jobs Creation Act of 2004. This holiday has been unanimously criticized by both sides of the political aisle and led to large …

Increasing Investor Protection Through Improving Hedge Fund Valuation, Deirdre Farrell

St. John's Law Review

(Excerpt)

This Note examines the current hedge fund regulations in the United States and in Europe, and proposes ways for regulators to improve hedge fund valuation in the United States to increase investor protection. Although valuation issues affect all pooled investment vehicles that invest in illiquid, difficult-to-value assets, this Note focuses only on the valuation systems of hedge funds.

Part I gives an overview of hedge funds in general—their structure and the major stakeholders involved. Part II summarizes the valuation process and its associated issues. Part III describes recent regulatory changes in the United States affecting hedge funds, including the …

De Novo: Reviewing Tax Court Redressability Incongruities In Innocent Spouse Relief Sections 66© And 6015(F), Jason Harn

Seattle University Law Review

Part One of this Note details the historical background of joint and several liability in federal income taxation. Part Two introduces, compares, and contrasts the two statutory provisions Congress has enacted to relieve “innocent spouses” from joint and several liability. Part Three discusses the incongruent standards of review applied by the Tax Court to these—§§ 66 and 6015—two substantially similar relief provisions. Finally, Part Four suggests remedies to alleviate this incongruity.

California Board Of Accountancy, Anna V. Randall, J. D. Fellmeth

California Regulatory Law Reporter

No abstract provided.

Individual Lawyers, The Sec Revolving Door, And Comment Letters, Michael Shen, Samuel T. Tan

Research Collection School Of Accountancy

Government officials, advocacy groups, and the business press have raised concerns that former SEC employees may continue to influence the SEC after leaving the agency. Using a hand-collected database of individual lawyers that represent firms in responding to SEC comment letters, we examine the impact of individual lawyers, and lawyers formerly employed by the SEC, on the comment letter process. We document significant differences between lawyers and law firms in their clients’ resistance to SEC comment letters, and find that firms that retain former SEC employees are larger, more profitable, and more likely to have received a comment letter raising …

Accounting Choices And The Legal Environment: The Impact Of The Ex Post Loss Rule, Teck Meng Junior Tan

Research Collection School Of Accountancy

Using a landmark Supreme Court decision as a natural experiment, I examine the impact of a fundamental requirement in securities litigation, the ex post loss rule, on income-decreasing accounting choices. Dura Pharmaceuticals v. Broudo (2005) established that plaintiffs must show that the alleged misrepresentations caused an actual economic loss. The case resolved a circuit split, allowing me to identify a treatment jurisdiction affected by Dura, and control jurisdictions in which the rule was already the prevailing legal standard. Motivated by legal analyses suggesting that Dura incentivizes firms to delay negative corrections, I hypothesize and find that treatment firms in high-litigation …

Shareholder Litigation And Corporate Disclosure: Evidence From Derivative Lawsuits, Thomas Bourveau, Yun Lou, Rencheng Wang

Research Collection School Of Accountancy

Using the staggered adoption of universal demand (UD) laws in the United States, we study the effect of shareholder litigation risk on corporate disclosure. We find that disclosure significantly increases after UD laws make it more difficult to file derivative lawsuits. Specifically, firms issue more earnings forecasts and voluntary 8-K filings, and increase the length of management discussion and analysis (MD&A) in their 10-K filings. We further assess the direct and indirect channels through which UD laws affect firms' disclosure policies. We find that the effect of UD laws on corporate disclosure is driven by firms facing relatively higher ex …

Sourcing Service Receipts For Franchise Tax Apportionment In Texas, Ray Langenberg, Matt Jones

St. Mary's Law Journal

Abstract forthcoming

The Cfpb’S Endaround, Chris O'Brien

Catholic University Law Review

The financial crisis of 2008 led Congress to enact the Dodd-Frank Wall Street Reform and Consumer Protection Act and establish the Consumer Financial Protection Bureau (CFPB) to better protect consumers. Although Dodd-Frank and the CFPB introduced sweeping changes to many areas of financial lending, automobile dealers and financers were expressly excluded from oversight by the CFPB. Despite this express limitation on the CFPB’s authority, the Bureau nonetheless expanded its definition of “larger participants” to encompass automobile dealers and financiers. This action has resulted in duplicative regulatory oversight and increased costs to consumers, which in turn, imposes additional burdens on those …

Accessible Reliable Tax Advice, Emily Cauble

University of Michigan Journal of Law Reform

Unsophisticated taxpayers who lack financial resources are disadvantaged by a shortage of adequate tax advice. The IRS does not have the resources to answer all questions asked, and the IRS’s informal advice comes with no guarantee as to its accuracy and offers the taxpayer no protection when it is mistaken. Furthermore, non-IRS sources of advice have not sufficiently filled the void left by a lack of satisfactory IRS guidance. These biases against unsophisticated taxpayers have been noted by existing literature. This Article contributes to existing literature by proposing several novel reform measures to assist unsophisticated taxpayers.

First, with respect to …

Tax Compliance In A Decentralizing Economy, Manoj Viswanathan

Georgia State University Law Review

Tax compliance in the United States has long relied on information from centralized intermediaries—the financial institutions,employers, and brokers that help ensure income is reported and taxes are paid. Yet while the IRS remains tied to these centralized entities,consumers and businesses are not. New technologies, such as sharing economy platforms (companies such as Airbnb, Uber, and Instacart)and the blockchain (the platform on which various cryptocurrencies are based) are providing new, decentralized options for exchanging goods and services.

Without legislative and agency intervention, these technologies pose a critical threat to the reporting system underlying domestic and international tax compliance. Until now, legal …