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Taxation-Federal Estate and Gift Commons

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2016

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Institution
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Publication
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Articles 31 - 51 of 51

Full-Text Articles in Taxation-Federal Estate and Gift

Oklahoma Tax Commission V. United States: Death Taxes On Restricted Indian Personalty, Thomas E. Simmons Mar 2016

Oklahoma Tax Commission V. United States: Death Taxes On Restricted Indian Personalty, Thomas E. Simmons

ACTEC Law Journal

No abstract provided.


Foreword -- The Supreme Court's Estate Planning Jurisprudence, Bridget J. Crawford Mar 2016

Foreword -- The Supreme Court's Estate Planning Jurisprudence, Bridget J. Crawford

ACTEC Law Journal

This short essay introduces a special issue of the ACTEC Law Journal devoted to the estate planning jurisprudence of the Supreme Court of the United States. The issue includes two invited essays on the role of the court in developing the law in this area, as well as commentaries on seventeen of the most important estate planning-related cases decided by the Supreme Court between 1925 and 2013.


Irwin V. Gavit: Income Is (Sometimes) In The Eye Of The Beholder, William P. Lapiana Mar 2016

Irwin V. Gavit: Income Is (Sometimes) In The Eye Of The Beholder, William P. Lapiana

ACTEC Law Journal

No abstract provided.


Taft V. Bowers: The Foundation For Non-Recognition Provisions In The Income Tax, James R. Repetti Mar 2016

Taft V. Bowers: The Foundation For Non-Recognition Provisions In The Income Tax, James R. Repetti

ACTEC Law Journal

Taft v. Bowers is a Supreme Court decision that is rarely studied in law schools or discussed by scholars. Yet, it is a case of vast significance. In the Taft decision, the Supreme Court confirmed that Congress may create non-recognition exceptions to the income tax that merely defer the recognition of income, rather than permanently exclude it. If the Taft case had been decided differently, it is likely that the number of non-recognition provisions in the Internal Revenue Code ("Code") would be significantly reduced.


Robinette V. Helvering: Valuation Of Gifts To Split-Interest Trusts, Stephanie E. Heilborn, Cindy Zhou Mar 2016

Robinette V. Helvering: Valuation Of Gifts To Split-Interest Trusts, Stephanie E. Heilborn, Cindy Zhou

ACTEC Law Journal

No abstract provided.


Dickman V. Commissioner: Loans As Property Transfers, Carlyn S. Mccaffrey, John C. Mccaffrey Mar 2016

Dickman V. Commissioner: Loans As Property Transfers, Carlyn S. Mccaffrey, John C. Mccaffrey

ACTEC Law Journal

No abstract provided.


Fidelity-Philadelphia Trust Co. V. Smith: Form Over Substance?, Deborah V. Dunn, Domingo P. Such Iii Mar 2016

Fidelity-Philadelphia Trust Co. V. Smith: Form Over Substance?, Deborah V. Dunn, Domingo P. Such Iii

ACTEC Law Journal

No abstract provided.


Professor Elaine Gagliardi On The Magical Power Of Appointment: Allows Trustor To Achieve Targeted Tax Consequences And Flexibility Of Control, Elaine H. Gagliardi Mar 2016

Professor Elaine Gagliardi On The Magical Power Of Appointment: Allows Trustor To Achieve Targeted Tax Consequences And Flexibility Of Control, Elaine H. Gagliardi

Faculty Journal Articles & Other Writings

As children, and sometimes as adults, we wish for magical powers to order the world in the way we want. Estate planners can make that wish come true for some clients and beneficiaries with judicious use of powers of appointment. Powers of appointment are uniquely suited to achieving targeted planning goals and increasing trust flexibility. Planning techniques, old and new, including the oft used Crummey trust1 and the more recently developed array of acronym trusts designed to achieve specific tax consequences, such as the intentionally defective grantor trust (IDGT)2 and the Delaware incomplete non-grantor trust (DING)3 to name a few, …


The Contemporary Tax Journal Volume 5, No. 2 – Winter 2016 Feb 2016

The Contemporary Tax Journal Volume 5, No. 2 – Winter 2016

The Contemporary Tax Journal

No abstract provided.


Analysis Of The Federal Estate Tax, Rachita Kothari Feb 2016

Analysis Of The Federal Estate Tax, Rachita Kothari

The Contemporary Tax Journal

No abstract provided.


Front Matter (Letter From The Editor, Masthead, Etc.) Feb 2016

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

The Contemporary Tax Journal

No abstract provided.


When Should Bitcoin Be Subject To Fbar?, Arash Kiadeh Feb 2016

When Should Bitcoin Be Subject To Fbar?, Arash Kiadeh

The Contemporary Tax Journal

No abstract provided.


Repeal The Alternative Minimum Tax, Branden Wilson Feb 2016

Repeal The Alternative Minimum Tax, Branden Wilson

The Contemporary Tax Journal

No abstract provided.


Valuation, Values, Norms: Proposals For Estate And Gift Tax Reform, Bridget J. Crawford Jan 2016

Valuation, Values, Norms: Proposals For Estate And Gift Tax Reform, Bridget J. Crawford

Elisabeth Haub School of Law Faculty Publications

In their contributions to this Symposium, Professor Joseph Dodge, Professor Wendy Gerzog, and Professor Kerry Ryan offer concrete proposals for improving the existing estate and gift tax system. Professor Dodge and Professor Gerzog are especially interested in accuracy in valuation, and advance specific proposals with respect to split-interest transfers and family limited partnerships. Professor Dodge makes an additional proposal to improve the generation-skipping transfer tax system, an understudied area of the law. Professor Gerzog's Symposium contribution draws particular attention to the legal fiction on which the estate and gift tax marital deductions rely. She would restrict the availability of the …


Lack Of Marketability And Minority Discounts In Valuing Close Corporation Stock: Elusiveness And Judicial Synchrony In Pursuit Of Equitable Consensus, Stephen J. Leacock Jan 2016

Lack Of Marketability And Minority Discounts In Valuing Close Corporation Stock: Elusiveness And Judicial Synchrony In Pursuit Of Equitable Consensus, Stephen J. Leacock

Faculty Scholarship

No abstract provided.


Oklahoma Tax Commission V. United States: Death Taxes On Restricted Indian Personalty, Thomas Simmons Jan 2016

Oklahoma Tax Commission V. United States: Death Taxes On Restricted Indian Personalty, Thomas Simmons

Faculty Publications

No abstract provided.


Why Tax Wealth Transfers?: A Philosophical Analysis, Jennifer Bird-Pollan Jan 2016

Why Tax Wealth Transfers?: A Philosophical Analysis, Jennifer Bird-Pollan

Law Faculty Scholarly Articles

The one-hundredth anniversary of the estate tax provides an ideal moment to reflect on the role of wealth transfer taxation in the larger scheme of the U.S. tax system. Wealth and income inequality are at historically high levels, and the responses to these issues are often reduced to a simplistic political dichotomy of “right” versus “left.” The multitude of views of the American people cannot be reduced to such simple generalities without losing important nuances. This Article identifies three general categories of political philosophical viewpoints that are commonly endorsed by both politicians and everyday Americans, and then examines the current …


Utilitarianism And Wealth Transfer Taxation, Jennifer Bird-Pollan Jan 2016

Utilitarianism And Wealth Transfer Taxation, Jennifer Bird-Pollan

Law Faculty Scholarly Articles

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 system …


Irwin V. Gavit: Income Is (Sometimes) In The Eye Of The Beholder, William P. Lapiana Jan 2016

Irwin V. Gavit: Income Is (Sometimes) In The Eye Of The Beholder, William P. Lapiana

Articles & Chapters

No abstract provided.


Cross-Deductions In The Net Investment Income Tax Imposed On A Trust Or Estate With Separate Shares, Michael T. Yu Jan 2016

Cross-Deductions In The Net Investment Income Tax Imposed On A Trust Or Estate With Separate Shares, Michael T. Yu

Faculty Scholarship

Part I of this article first provides a general overview of §§ 1411 and 663(c) and the interaction between them and the respective regulations thereunder and then proposes a revised regulation to clarify the relationship between and among the two sections and their regulations. Part II discusses the possibility of certain cross-deductions under § 1411, in conjunction with §§ 661, 662, and 663(c). Finally, Part III presents and discusses a proposed calculation and allocation, to the separate shares of a trust or estate, of income and deduction items entering into the computation of NII and DNI of the trust or …


Toward A Reality-Based Estate Tax, Wendy C. Gerzog Jan 2016

Toward A Reality-Based Estate Tax, Wendy C. Gerzog

All Faculty Scholarship

Currently, the estate tax does not accurately value the property and transactions that it is meant to cover. Additionally, the marital and charitable deductions do not reflect actual associated transfers, instead skewing their benefits away from their purported beneficiaries. This Article proposes reforming the estate tax by eliminating these sources of unreality and distortion, and to make the current estate tax a reality-based tax. Through six specific proposals, the Article identifies solutions to the problems associated with testamentary transfers, puts forth alternative methods of valuation to prevent gaming of transfer taxes, and offers significant modifications to two deduction provisions.