Tax Law Commons^™

The Interpretation Of Taxing Statutes: The English Perspective, Nicola Preston

Akron Tax Journal

Revenue law is entirely a creature of statute. The maxim that there is "no equity in tax" is embodied in the Bill of Rights 1689 which provided for "no taxation without legislation." This principle was of major political importance in 1689 because prior to the English Civil War 1642-49, Charles I had attempted to raise funds without the aid of Parliament, by inter alia, levying a window tax' and imposing the payment of ship money nationwide. The authors of the Bill of Rights were keen to ensure that the monarch would be unable to exercise such absolute power in the …

Deductibility Of Mandatory Donations To Religious Organizations Under The Internal Revenue Code, Sandra Machan

Akron Tax Journal

Church of Scientology members discovered their "inner selves" through "auditing" I and studied Church doctrines and tenets during "training" sessions. To participate in the auditing and training sessions, members paid mandatory or fixed fees to the Church.

In a recent United States Supreme Court Case, the Court considered whether the mandatory donations made to the Church of Scientology constituted a charitable deduction. The Court determined that the members made the mandatory donations with the expectation of a commensurate return benefit (i.e., a quid pro quo). and disallowed the charitable contribution deductions.

Although the Court's decision to disallow the deductions affected …

Annual Survey Of Virginia Law: Taxation, Carle E. Davis

University of Richmond Law Review

In its 1990 session, Virginia's General Assembly passed many bills amending sections of and adding new sections to title 58.1 of the Code of Virginia (the "Code"). These bills affected a broad range of areas, including the individual and corporate income tax, the sales and use tax, real estate and recordation taxes, and miscellaneous local taxes. The Supreme Court of Virginia also decided several cases concerning miscellaneous taxation issues. In addition, the Virginia Department of Taxation finalized several regulations and promulgated proposed regulations. This article covers legislative and regulatory changes, and recent judicial decisions affecting Virginia taxation from July 1989 …

Passive Activity Losses In Light Of The New Section 469 Temporary Regulations, Hans-Dieter Sprohge

Akron Tax Journal

The Tax Reform Act of 1986 created Internal Revenue Code (I.R.C.) Section 469.' The purpose of this Section is to prevent certain taxpayers from sheltering income with non-cash losses from businesses in which the taxpayers do not participate. The new Regulations are intended to provide taxpayers with guidance on compliance with the rules of Section 469. Taxpayer compliance is difficult for two reasons: First, the Regulations do not address some of the key Section 469 concepts and rules. The Section 469 concepts and rules omitted by the first set of Section 469 Regulations will be discussed in future regulations. The …

Survey Of The Law And Selected Issues Relating To The Deductibility Of Soil And Water Conservation Expenditures Under Section 175 Of The Internal Revenue Code, Lonnie R. Beard

Kentucky Law Journal

No abstract provided.

Business Versus Hobby: Determination Of Whether A Horse Activity Is Engaged In For Profit, Tandy C. Patrick

Kentucky Law Journal

No abstract provided.

Applying I.R.C. Section 1033 To Involuntary Conversions Of Thoroughbred Horses, Bruce M. Reynolds

Kentucky Law Journal

No abstract provided.

Of No Interest: Truth, Substance, And Bargain Borrowing, Joseph W. Jacobs

Florida State University Law Review

No abstract provided.

Dubious Interpretative Rules For Construing Federal Taxing Statutes, Richard A. Westin

Law Faculty Scholarly Articles

Knowing even a substantial portion of the Internal Revenue Code of 1954 is a major achievement. Divining how the courts might react to a complex tax transaction is also terribly difficult, but for this ability lawyers are often well-rewarded on earth. The tools of this esoteric trade include a mass of interpretative rules of a most uncertain nature, as sophisticated tax advisors are well aware. This article discusses the application and limits of a litany of the interpretative rules. The rules are frequently applicable outside the tax field, but the following study is confined to their application to tax decisions. …

The Continuing Saga Of Prepaid Feed Expense: The Fat Lady Has Not Sung, James D. Wright, Nancy E. Wright

Florida State University Law Review

No abstract provided.

Section 302(C)(2): Opportunities And Pitfalls, Michael A. Jones

Florida State University Law Review

No abstract provided.

Replacing The Social Security Tax With A Value-Added Tax: Policy Perspectives, John F. Kelly, Joseph L. Lewis, William J. Irvin

University of Richmond Law Review

On October 22, 1979, Representative Al Ullman (D-Ore.), then Chairman of the House Ways and Means Committee, introduced the Tax Restructuring Act of 1979, which would have lowered the rates of the individual income, corporate income and social security taxes along with certain other tax benefits and would have replaced the lost revenues from such reductions with the revenues from a 10% value-added tax (VAT). The introduction of the bill followed a speech delivered by Sen. Russell B. Long (D-La.), then Chairman of the Senate Finance Committee, at the 1978 Tulane Tax Institute, in which he advocated an overhaul of …

Qualified Plans Under Erisa: Tax Shelter Or Bureaucratic Paper Chase?, Louise Cobb Boggs

University of Richmond Law Review

The enactment of the Employee Retirement Security Act of 1974 has had a profound and far-reaching impact upon existing employee benefit plans and upon those which have since been created. ERISA, as the act is commonly designated, is a comprehen- sive federal statute with strong consumer protection overtones which sets up strict requirements for regulating most aspects of the operation and administration of private employee benefit plans. Its primary goals are: (1) to protect benefit rights and to provide retirement security for the participants of employee benefit plans by setting out minimum standards for nondiscriminatory participation, vesting, benefit accrual, and …

Partnerships And The "Used Section 38 Property" Investment Credit: A Widening Loophole, David Brian Mursten

Florida State University Law Review

No abstract provided.

Home Office Deductions Under The New Section 280a Of The Internal Revenue Code, Edward J. De Guardiola

Florida State University Law Review

No abstract provided.

Hill Farrer & Burrill, 67 T.C. 411 (1976), David Brian Mursten

Florida State University Law Review

Profit Sharing- NEW DEFINITION OF A PARTNERSHIP "PROFITS INTEREST" DISQUALIFIES AN OTHERWISE QUALIFIED PROFIT SHARING PLAN.

The Hidden Tax Trap Of I.R.C. Section 6672, Stephen J. Vasek

Kentucky Law Journal

No abstract provided.

Carryover Basis Rules For Inherited Property, Robert S. Hightower

Florida State University Law Review

No abstract provided.

The Tax Consequences Of Inter Vivos Charitable Contributions After December 31, 1969 Under Section 170, Olin R. Melchionna Jr.

University of Richmond Law Review

To give and live to give again has always been the American way. Traditionally, Americans contribute to those charitable institutions and associations which effectuate their benevolent, philanthropic desires. Many individuals believe the funding of charitable institutions should be primarily by direct contributions from the private sector as opposed to federal and state government subsidies. This view is supported by the federal income, I gift and estate tax deductions.