Tax Law Commons^™

International Economic Agreements As Impediments To Carbon Tax Climate Change Mitigation: Is The Un Framework Tax Convention The Way Forward?, Edwin Vanderbruggen

Indian Journal of International Economic Law

This article outlines some of the international legal impediments to domestic environmental tax policies in furtherance of climate change mitigation, i.e. certain WTO rules on trade in goods, fuel tax exemptions in aviation treaties, and tax stabilisation provisions that are protected under the umbrella clause of investment treaties. It argues that international action is the most effective and often the only option to address those legal obstacles. The emergence of the United Nations Framework Convention on International Tax Cooperation (‘FTC’) is, in that regard, a timely development. Given the central institutional role UN-related bodies already have in climate change, sea …

Into The Sunset: Divorcing Families Need Their Slice Of The Tcja Reversions, John C. Mcdonald

BYU Law Review

On its path to sufficiently offsetting its major cut to the corporate income tax rate in 2017, Congress turned to a surprising source for funds: the alimony support payments of recently divorced families. Alimony’s inclusion/deduction regime in §§ 71 and 215 of the Code allowed divorcing couples to reach mutually beneficial divorce agreements for over half a century until it was unceremoniously repealed by the Tax Cuts and Jobs Act of 2017 with a striking lack of satisfying legislative justifications. This Note suggests that in evaluating the impact of the repeal, Congress and others have failed to consider an important …

The 40th Annual Tei - Sjsu High Tech Tax Institute Conference On November 4-5, 2024: The Latest And Greatest In Equity Compensation, Shuang Zhang

The Contemporary Tax Journal

No abstract provided.

The 40th Annual Tei-Sjsu High Tech Tax Institute Conference On Nov. 4-5, 2024: R&D In Uncertain Tax Times, Jing Luo

The Contemporary Tax Journal

No abstract provided.

The 40th Tei-Sjsu High Tech Tax Institute Conference On Nov 4-5, 2024: Ip Development In Other Countries, Junli Zhang

The Contemporary Tax Journal

No abstract provided.

The Contemporary Tax Journal’S Interview With Benjamin R. Shreck, Shuang Zhang

The Contemporary Tax Journal

No abstract provided.

Front Matter (Letter From The Editor, Masthead, Etc.)

The Contemporary Tax Journal

No abstract provided.

Analysis Of H.R. 7458 - 118th Congress Made In The U.S.A. Act., Jung-Hee Kwon, Jinjin Yang

The Contemporary Tax Journal

No abstract provided.

Gleim Cpa Review — Regulation (Reg) & Tax Compliance And Planning (Tcp) Sample Questions

The Contemporary Tax Journal

No abstract provided.

Fbar Penalty Is Not Extinguished At Death: Hendler, No. 23 Civ. 3280 (Deh) (Sd Ny, 2024), Shuang Zhang

The Contemporary Tax Journal

No abstract provided.

The Contemporary Tax Journal Volume 13, No. 2 – Winter 2024

The Contemporary Tax Journal

No abstract provided.

The 40th Annual Tei-Sjsu High Tech Tax Institute Conference On Nov. 4-5, 2024: Ai In The Corporate Tax Department - Let’S See It!, Raymond Clark

The Contemporary Tax Journal

No abstract provided.

The 40th Annual Tei-Sjsu High Tech Tax Institute Conference On Nov 4-5, 2024: The Future Of The Corporate Tax Department, Cynthia Flores

The Contemporary Tax Journal

No abstract provided.

Deductibility Of Investigatory Expenses Incurred In Business Expansion: North Carolina National Bank V. United States, Edward R. Benjamin Jr.

Maine Law Review

Section 162 of the Internal Revenue Code allows the current deduction of "all the ordinary and necessary expenses paid or incurred . . . in carrying on any trade or business . . . .” Exactly which business expenditures meet the requirements of section 162, however, has not been easy for courts to determine. In an attempt to enunciate a standard that is easily applicable to complex business transactions, courts have refused to allow current deduction of business expenditures which result in a benefit or advantage with a useful life which continues beyond the taxable year. In North Carolina National …

Application Of The Federal Securities Acts To The Sale Of A Closely Held Corporation By Stock Transfer, Loftus C. Carson Ii

Maine Law Review

The purchase and sale of a closely held corporation is a commonly occurring transaction which may be accomplished by a transfer of stock or a transfer of assets. Structuring such a transaction as a sale of stock, however, may offer certain advantages not attainable if the transaction is structured as a sale of assets. For example, non-assignable contracts and leases, not transferable with a sale of assets, may pass to the transferee of corporate stock. The transferor generally will be absolved of all of the enterprise's liabilities since, by law, they pass with the transfer. Transferors subject to compliance with …

Backing-Into Internal Revenue Code Section 338, Drew Erik Swenson

Maine Law Review

In recent years there has been an increasing incidence of corporate takeovers. Typically, the takeover begins with a purchasing corporation acquiring a controlling but less than 100% interest in the target corporation. Often, the partial ownership is merely a transitory step toward complete ownership, shortly after which the target is liquidated or merged into what is now the parent corporation. In other instances, the target retains its separate corporate existence within a parent/subsidiary relationship. The choice between termination and continued corporate existence is made only after a careful appraisal of the economic and tax consequences to the parent and the …

Personal Injury Compensation As A Tax Preference, Lawrence A. Frolik

Maine Law Review

Samuel Johnson tells us "[d]epend on it, sir, when a man knows he is to be hanged in a fortnight, it concentrates his mind wonderfully." Projected federal budget deficits in the realm of $200 billion a year for the foreseeable future ought to have a similar effect: a concentration on means of reducing these unacceptable deficits. The simple answer is either to spend less or tax more, or perhaps, a bit of both. If we choose to tax more, we must either raise tax rates or widen the tax base, or both. The former, a general rise in tax rates, …

Gifts, Joint Ownership, And Marital Property: Interspousal Transfers Of Property Under Maine's Marital Property Act, Paul Fillmore

Maine Law Review

The classification of property in divorce proceedings as either marital or individual is crucial because under Maine's Marital Property Act a divorce decree can dispose of only marital property. Once the court identifies the marital property, the actual division of that property is within the court's discretion. Courts, however, often have difficulty classifying property which was once individual property but which was transferred by the owner spouse into joint ownership during the course of the marriage. Maine courts have reached different results in these situations depending on whether they have read the Marital Property Act literally or in the context …

Hyperlocal Gift Economies Under The Duberstein Gift Standard, Nicolás R. Munsen

Notre Dame Law Review Reflection

Hyperlocal gift economies, such as those moderated by the “Buy Nothing Project,” have become increasingly popular in the United States and abroad within the last decade. Explicitly banning the buying, selling, trading, or bartering of goods and services, hyperlocal gift economies instead encourage local community members to give to each other out of their own abundance and without any expectation of return or obligation—in short, to give and receive gifts. But while members of these groups regard these transactions as gifts, it is unclear if the Internal Revenue Service would agree. The Internal Revenue Code’s definition of “gift” in I.R.C. …

Three Proposals For Fixing The Tcja, Reuven S. Avi-Yonah

Articles

The year 2025 promises to be important in U.S. tax history for three reasons. First, the expiration of the individual provisions of the Tax Cuts and Jobs Act means that Congress is very likely to enact important tax legislation to prevent tax increases for millions of individual taxpayers. Second, a new administration frequently means tax legislation, typically through budget reconciliation if the same party controls Congress (1981, 1993, 2001, 2017, 2022). Third, the trifecta of Supreme Court decisions in 2024 (Moore, Corner Post, and Loper Bright) suggests that there may be a spike in litigation challenging various tax provisions as …

Distribution Through Taxation Versus Legal Rules, And The Epistemic Limits Of Law-And-Economics, Erick J. Sam

Utah Law Review

This Article develops an epistemic critique of the view, widely held in law-and-economics, that legal rules should always be chosen for efficiency and that redistribution to produce a fair distribution should be conducted solely through the tax-and-transfer system. In place of this orthodox view, I develop an alternative distributive theory.

The canonical ‘double distortion’ argument for the orthodox position, formulated by Kaplow and Shavell (1994), claims that opting for efficient legal rules minimizes economic distortions and maximizes aggregate social wealth, some of which can then be redistributed via the tax-and-transfer system to those who would have been better off under …

Tax As Hybrid Law: Borrowing And Convergences, Henry Ordower

All Faculty Scholarship

[This article argues that tax is a hybrid of civil and common law, public and private law, and is cross-disciplinary. It observes that tax law has become an all-purpose tool for legislators. It seeks to demonstrate how the U.S., a common law jurisdiction, has turned to civil law models for taxation while civil law jurisdictions and the European Union have sought common law models to combat tax avoidance. The ubiquity of tax and its public law influence on private law transactions, its cross disciplinary nature, and its deployment as a legislative tool to manage the economy make it a candidate …

Guest Editorial – Special Issue: Environmental, Social, Governance, And Taxation, Vincent Ooi, Amy Lawton

Research Collection Yong Pung How School Of Law

This special issue of the eJournal of Tax Research comprises five articles that are a selection of papers that were originally presented at the SMU–Edinburgh Environmental, Social, Governance and Taxation Conference hosted by the Yong Pung How School of Law, Singapore Management University in April 2024.

The Constitutional Limits To The Taxing Power, Ari Glogower

Fordham Law Review

The modern U.S. Supreme Court has elevated the apportionment requirement for direct taxes into the most important constitutional limitation to Congress’s taxing power. The U.S. Constitution requires that any “direct tax” must be apportioned among the states by population, which is impracticable or impossible for a tax today. The modern interpretative approach focuses on the formal categorization of the tax base, as either a “direct tax” or not. This approach could bar Congress from enacting certain taxes—such as a federal wealth tax or possibly even capital income tax reforms—simply through their formal labeling as direct taxes.

This interpretation inflates apportionment’s …

A New Governance Framework In Cross-Border Tax Policymaking, Tamir Shanan, Doron Narotzki, Noam Zamir

Brooklyn Journal of Corporate, Financial & Commercial Law

The first tax treaty can probably be traced to the end of the 19th century: the treaty between the Swiss Federal Council (on behalf of the Canton of Vaud) and Great Britain. However, most tax scholars refer to the period following World War I, including the work of the League of Nations, as the formative period in which the international tax regime was founded. In the 1920s, the League of Nations formed a committee of four renowned economists that was asked to formulate a set of rules that would assist states in allocating taxing rights of cross-border income and gains …

Driving Corporate Environmental Responsibility With Tax Incentives And Carbon Taxation, Riya Dhall

Journal of Law and Policy

In response to the worsening global climate crisis, this Note examines the potential role of tax policy in encouraging corporate environmental responsibility. Focusing on tax incentives and a proposed federal carbon tax, it explores how strategic tax measures could drive corporations to mitigate their environmental impact. Through an analysis of economic and regulatory measures, such as cap-and-trade and excise taxes, alongside recent legislation like the Inflation Reduction Act, this Note assesses the potential of tax credits and carbon taxes to reduce corporate emissions. It further discusses the emergence of benefit corporations, specifically B Corp certified companies, such as Patagonia and …

The Equal Pay Game Changer: Using Mandatory Reporting To Encourage Corporations In The Sports Ecosystem To Increase Investment In Women’S Sports, Caroline Strauss

Journal of Law and Policy

In 2016, the United States Women’s National Team began a lengthy fight for equal pay by filing a complaint with the Equal Employment Opportunity Commission. In 2019, the fight continued when the team sued the United States Soccer Federation for gender discrimination. When the court granted summary judgment to the U.S. Soccer Federation on their Equal Pay Act claim, it closed the door for the team to achieve equal pay through a public law remedy. The tedious fight came to an end with a settlement which guaranteed that the U.S. Men’s and Women’s National Teams would be paid equally. Although …

The Case For Stronger Scrutiny Of The Deductibility Of Crypto Losses, Vincent Ooi

Research Collection Yong Pung How School Of Law

My paper, The Case for Stronger Scrutiny of the Deductibility of Crypto Losses, which was recently published by The Journal of Tax Administration, discusses the issue of crypto losses and risks to the tax base. It submits that tax authorities and national legislatures should step up their scrutiny of the deductibility of crypto losses and proposes some ways in which this can be done in practice.

Shaping Preferences With Pigouvian Taxes, Gary M. Lucas Jr.

Faculty Scholarship

A Pigouvian tax is a tax that is imposed to correct an externality, which arises when a person engages in behavior that harms others without their consent. Pigouvian taxes are popular among academics—with prominent economists and legal scholars arguing for their imposition on myriad goods and activities that harm third parties, like carbon emissions and alcohol. Policymakers have recently been receptive to at least some of these arguments as evidenced by taxes imposed on or proposed for a variety of externality-generating goods, including guns, plastic bags, and sugary drinks.

The conventional economic rationale for Pigouvian taxes assumes that they affect …

Taxation, Craig D. Bell

University of Richmond Law Review

This Article reviews significant recent developments in the laws affecting Virginia state and local taxation. Its Parts cover legislative activity, judicial decisions, and selected opinions from the past year. Part I of this Article addresses taxes administered by the Virginia Department of Taxation (“Tax Department” or “Department”). Part II covers local taxes including real and tangible personal property; machinery, tools, and license taxes; and other discrete local taxes.

The overall purpose of this Article is to provide Virginia and general practitioners with a concise overview of the recent developments in Virginia taxation that are most likely to impact their clients. …