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Articles 31 - 60 of 69
Full-Text Articles in Taxation-Federal
The United States' Experience With Energy-Based Tax Incentives: The Evidence Supporting Tax Incentives For Renewable Energy, Mona L. Hymel
The United States' Experience With Energy-Based Tax Incentives: The Evidence Supporting Tax Incentives For Renewable Energy, Mona L. Hymel
ExpressO
Developing sustainable markets for renewable energy technologies presents complex challenges. Financial, institutional and informational obstacles impede advancement of these technologies. Tax incentives are often utilized to assist policy makers in dealing with these challenges. Because tax incentives and subsidies generally decrease governmental revenues, understanding their costs and benefits is critical in determining policy choices. For almost 90 years the United States has granted tax incentives, direct subsidies and other support to the energy industry in an effort to enhance U.S. energy supplies. Historically, those incentives targeted only the petroleum industry. Since the late 1970s, however, Congress has enacted incentives to …
Debunking The Basis Myth Under The Income Tax, Joseph M. Dodge, Jay A. Soled
Debunking The Basis Myth Under The Income Tax, Joseph M. Dodge, Jay A. Soled
Indiana Law Journal
Tax basis is one of the most important, yet least studied, aspects of the income tax. This analysis calls attention to its importance and argues that taxpayers have the motivation, opportunity, and means to inflate the tax basis they have in their assets and, in some cases, to avoid the reporting of gains. We discuss the likely causes of these phenomena, estimate the probable revenue loss, and propose appropriate reforms.
Constitutional Limits On State Taxation Of Nonresident Trusts: Gavin Misinterprets And Misapplies Both Quill And Mcculloch, Joseph W. Blackburn
Constitutional Limits On State Taxation Of Nonresident Trusts: Gavin Misinterprets And Misapplies Both Quill And Mcculloch, Joseph W. Blackburn
ExpressO
No abstract provided.
Working For Free: A New Tax Dodge For The Wealthy Magnifies Employment Tax Defects, Richard Winchester
Working For Free: A New Tax Dodge For The Wealthy Magnifies Employment Tax Defects, Richard Winchester
ExpressO
Employment taxes account for an enormous share of federal tax receipts. And it is widely acknowledged that taxes on the self-employed are collected under a dysfunctional set of laws that is long overdue for repair. Yet, there is surprisingly little legal scholarship in the field. This article fills a portion of that gap. It examines some fundamental flaws that plague our nation’s employment tax laws, focusing on how President Bush’s dividend tax cut created an incentive for wealthy individuals to exploit those flaws at the government’s expense when they work for a corporation that they also own and control. Specifically, …
Forcing Fairness In State Taxation, Randall J. Gingiss
Forcing Fairness In State Taxation, Randall J. Gingiss
ExpressO
The article recommends amending the Internal Revenue Code to change to deduction for state and local income taxes to a credit up to some defined limit. This change will encourage states without an income tax to enact one at no cost to its taxpayers and will help these states and other states with a low income tax rate find a politically acceptable way to end the financial crisis in which many states find themselves. Recent recommendations of the Presidential Advisory Panel on Federal Tax Reform advocate eliminating the deduction for state and local taxes to finance elimination of other undesirable …
The Option Conundrum In Tax Law: After All These Years, What Exactly Is An Option?, Kevin J. Liss
The Option Conundrum In Tax Law: After All These Years, What Exactly Is An Option?, Kevin J. Liss
ExpressO
Some of the latest financial products that have become prevalent on Wall Street defy easy categorization for tax purposes. Certain products, such as economic derivatives or weather derivatives, bear the trappings of options, but lack an underlying property component. Other products, such as credit default swaps, have option-type payouts, but are cast in the form of financial swaps. Which of these products are truly options and why? When and how to tax these instruments depends on proper resolution of this fundamental classification issue. With respect to credit default swaps, arguably the single most important product innovation on Wall Street in …
A Republic Of The Mind: Cognitive Biases, Fiscal Federalism, And The Tax Code, Brian Galle
A Republic Of The Mind: Cognitive Biases, Fiscal Federalism, And The Tax Code, Brian Galle
ExpressO
Our federal government annually donates more than $75 billion in potential revenue to the States under section 164 of the Tax Code, the provision allowing itemizing taxpayers to deduct the cost of the state and local income, property, and sales taxes they paid during the tax year. This Article argues that expenditure may be a massive mistake. The deduction is, in theory, supposed to further federalism, by shifting revenues -- and therefore regulation -- downwards from the federal government to states and their local subsidiaries. What few commentators seem yet to have recognized, though, is that using the deduction for …
The High School Attainment Credit: A Tax Credit Encouraging Parents To Help Motivate Students To Graduate From High School, David Hansen
The High School Attainment Credit: A Tax Credit Encouraging Parents To Help Motivate Students To Graduate From High School, David Hansen
Brigham Young University Education and Law Journal
No abstract provided.
Love Doesn't Pay: The Fiction Of Marriage Rights In The Workplace, James A. Sonne
Love Doesn't Pay: The Fiction Of Marriage Rights In The Workplace, James A. Sonne
University of Richmond Law Review
No abstract provided.
Property Tax Reassessment: Who Needs It?, Stewart E. Sterk, Mitchell L. Engler
Property Tax Reassessment: Who Needs It?, Stewart E. Sterk, Mitchell L. Engler
Articles
No abstract provided.
The Different Tax Treatment Of Investment Advisory Fees And Brokerage Fees; The Lower The Fiduciary Duty The Better The Tax Consequences, Barry W. Rickert
The Different Tax Treatment Of Investment Advisory Fees And Brokerage Fees; The Lower The Fiduciary Duty The Better The Tax Consequences, Barry W. Rickert
ExpressO
The current tax laws favor brokerage fees as compared to investment advisory fees, even though investment advisors are held to a higher standard of fiduciary duty. My article examines the different tax treatment of investment advisory fees and brokerage fees, analyzes the policy considerations of such treatment and proposes alternatives to the current system. Considering the large number of American investing in the securities markets, it is important that our tax laws be written in a way that encourages taxpayers to seek investment professionals who are held to higher standards of conduct. The policy implications of brokerage fees receiving preferable …
Circular 230 Opinion Standards, Legal Ethics And First Amendment Limitations On The Regulation Of Professional Speech By Lawyers, David T. Moldenhauer
Circular 230 Opinion Standards, Legal Ethics And First Amendment Limitations On The Regulation Of Professional Speech By Lawyers, David T. Moldenhauer
ExpressO
This article addresses the legal ethics and First Amendment implications of recent Treasury Department regulations governing legal opinions on tax-motivated transactions. As discussed in the article, the regulations are intended to address the significant policy and budgetary issue of practitioners’ involvement in the development, marketing and encouragement of abusive tax shelters. However, the article concludes that the regulations are in many respects an inappropriate response to these problems because their prohibitions prevent a lawyer from giving taxpayers a complete, informed assessment of their rights. As such, they create significant ethical conflicts and deny the public legal advice. More generally, they …
Should We Adopt William Vickrey’S Cumulative Averaging Income Tax System? Progressivity And Simplicity In Tax Reform, Neil H. Buchanan
Should We Adopt William Vickrey’S Cumulative Averaging Income Tax System? Progressivity And Simplicity In Tax Reform, Neil H. Buchanan
ExpressO
This paper focuses on William Vickrey’s proposal to replace our current annual system of tax assessment with a new tax system that bases assessments on lifetime cumulative average income. After reviewing two key arguments in favor of the social goal of progressivity in taxation (a goal that Vickrey shared), I have examined whether adopting Vickrey’s cumulative averaging system would achieve a compelling change in the fairness of the tax system. While the current system undeniably creates a problem of horizontal inequity in that people with similar lifetime incomes can pay different tax rates based on the timing of those incomes, …
The Supreme Court's Casual Use Of The Assignment Of Income Doctrine, Brant J. Hellwig
The Supreme Court's Casual Use Of The Assignment Of Income Doctrine, Brant J. Hellwig
Scholarly Articles
In early 2005, the U.S. Supreme Court answered a question that had been plaguing courts for years: whether plaintiffs should be taxed on the portion of contingent fee awards paid to their attorneys. The Court determined that they should. In this article, Professor Brant J. Hellwig focuses on the analysis employed by the Court to reach its conclusion in Commissioner v. Banks and the implications of that analysis for future cases. Although Professor Hellwig believes that the Court correctly ascertained the plaintiff's tax burden, he suggests that the Court's use of the assignment of income doctrine was both unnecessary to …
The Sometimes-Taxation Of The Returns To Risk-Bearing Under A Progressive Income Tax, Lawrence A. Zelenak
The Sometimes-Taxation Of The Returns To Risk-Bearing Under A Progressive Income Tax, Lawrence A. Zelenak
Faculty Scholarship
No abstract provided.
Recent Developments In Federal Income Taxation: The Year 2005, Martin J. Mcmahon Jr., Ira B. Shepard
Recent Developments In Federal Income Taxation: The Year 2005, Martin J. Mcmahon Jr., Ira B. Shepard
UF Law Faculty Publications
This recent developments outline discusses, and provides context to understand, the significance of, the most important judicial decisions and administrative rulings and regulations promulgated by the Internal Revenue Service and Treasury Department during 2005 - and sometimes a little farther back in time if we find the item particularly humorous or outrageous. Most Treasury Regulations, however, are so complex that they cannot be discussed in detail and, anyway, only a devout masochist would read them all the way through; just the basic topic and fundamental principles are highlighted. Amendments to the Internal Revenue Code generally are not discussed except to …
Agency Activism As A New Way Of Life: Administrative Modification Of The Internal Revenue Code Through Limited Issue Focused Examinations, W Edward Afield
Agency Activism As A New Way Of Life: Administrative Modification Of The Internal Revenue Code Through Limited Issue Focused Examinations, W Edward Afield
Faculty Publications By Year
In the name of increasing efficiency and better utilizing limited resources, the IRS has begun to adopt audit policies that overly favor taxpayers and greatly hinder the IRS’s ability to perform thorough audits. Highlighting this trend is a relatively new audit technique used by the Large to Mid-Size Business Division (LMSB), known as the Limited Issue Focused Examination (LIFE) Process. Under LIFE, the LMSB has attempted to involve taxpayers in the audit process by sharing responsibility for timely completion of the audit and has attempted to streamline the audit by reducing the scope of issues examined and applying materiality thresholds …
The Federal Income Tax Consequences Of The Bobble Supreme Phenomenon, Leandra Lederman
The Federal Income Tax Consequences Of The Bobble Supreme Phenomenon, Leandra Lederman
Articles by Maurer Faculty
Since 2003, the Green Bag Journal has been commissioning and distributing limited edition bobblehead likenesses of the Justices of the United States Supreme Court. Demand for the bobble Supremes has not been limited to existing recipients, and bobble longing has inspired purchases and even poetry. Given the importance of the bobble Supreme phenomenon to the national economy, the time has come for guidance on the tax consequences of their receipt, ownership, and transfer. Fortunately, draft proposed regulations on the federal income tax treatment of bobble Supremes recently surfaced. Although the regulations have not and never will be officially sanctioned (and, …
Encouraging Corporate Charity , Linda Sugin
Encouraging Corporate Charity , Linda Sugin
Faculty Scholarship
The tax law governing corporate philanthropy is stuck in an archaic notion of corporate charity that does not necessarily benefit either charities or corporate stakeholders. Four developments in the last few years provoked this reexamination of the Internal Revenue Code and its awkward dichotomy between business expenses and charitable contributions. They offer new reasons for replacing the charitable contribution deduction for corporations with a business expense deduction: (1) a statutory reduction in the rate of tax on dividends received by individual shareholders, (2) empirical evidence showing very low effective tax rates paid by corporations, (3) death of the preeminent model …
Prevention Of Double Deductions Of A Single Loss: Solutions In Search Of A Problem, Jeffrey H. Kahn, Douglas A. Kahn
Prevention Of Double Deductions Of A Single Loss: Solutions In Search Of A Problem, Jeffrey H. Kahn, Douglas A. Kahn
Scholarly Publications
No abstract provided.
Taxation And Multinational Activity: New Evidence, New Interpretations, Mihir A. Desai, C. Fritz Foley, James R. Hines Jr.
Taxation And Multinational Activity: New Evidence, New Interpretations, Mihir A. Desai, C. Fritz Foley, James R. Hines Jr.
Articles
In the midst of rapid integration and globalization, multinational firms still face tax systems that differ among countries, and these differences have the potential to affect major investment and financing decisions. This research covers a wide range of topics, including the impact of indirect taxes as well as of corporate income taxes, the sensitivity of financing decisions to tax rates, the effects of taxes on repatriation policies, the demand for, and impact of, tax havens, and the use of indirect ownership as a means of avoiding taxes. The behavior of US multinational firms as revealed by the evidence collected by …
The Three Goals Of Taxation, Reuven S. Avi-Yonah
The Three Goals Of Taxation, Reuven S. Avi-Yonah
Articles
The current debate in the United States about whether the income tax should be replaced with a consumption tax has been waged on the traditional grounds for evaluating tax policy: efficiency, equity, and administrability. For example, Joseph Bankman and David Weisbach recently argued for the superiority of an ideal consumption tax over an ideal income tax on three grounds: First, that the consumption tax is more efficient because it does not discriminate between current and future consumption,' while both income and consumption taxes have identical effect on work effort. Second, that the consumption tax is at least as good at …
The Report Of The President's Advisory Panel On Federal Tax Reform: A Critical Assessment And A Proposal, Reuven S. Avi-Yonah
The Report Of The President's Advisory Panel On Federal Tax Reform: A Critical Assessment And A Proposal, Reuven S. Avi-Yonah
Articles
ON November 1, 2005, The President's Advisory Panel on Federal Tax Reform ("Panel") submitted its report ("Report") to the Secretary of the Treasury.1 At 272 pages, this is the most important and wide-ranging plan to reform the United States federal tax system since Blueprints for Basic Tax Reform (1977).2 While prospects for immediate action appear dim, the Report will no doubt be the basis of discussion of federal tax reform for a long time to come.
Why Civil Rights Lawyers Should Study Tax, Stephen B. Cohen, Laura Sager
Why Civil Rights Lawyers Should Study Tax, Stephen B. Cohen, Laura Sager
Georgetown Law Faculty Publications and Other Works
This Article discusses the intersection of civil rights law and income taxation in the three areas listed above: damages for unlawful discrimination, the forgiveness of debt by a predatory lender, and tax-exempt status for private educational and religious institutions. Our purpose is not to attempt an exhaustive examination of the issues in each area but to convey a sense of the range of tax problems that civil rights lawyers may need to confront.
Irs Advises No Medical Expense Deduction For Sexual Reassignment Surgery, Katie D. Fletcher
Irs Advises No Medical Expense Deduction For Sexual Reassignment Surgery, Katie D. Fletcher
Public Interest Law Reporter
No abstract provided.
Meet The New Test, Same As The Old Test: In Re Spearing Tool’S Rejection Of The Revised Article 9 Rules Means Secured Creditors Will Get Fooled Again, Joshua L. Edwards
Meet The New Test, Same As The Old Test: In Re Spearing Tool’S Rejection Of The Revised Article 9 Rules Means Secured Creditors Will Get Fooled Again, Joshua L. Edwards
Oklahoma Law Review
No abstract provided.
Power As A Factor In Lawyers' Ethical Deliberation, Susan Carle
Power As A Factor In Lawyers' Ethical Deliberation, Susan Carle
Scholarly Articles in Law Reviews & Journals
No abstract provided.
The Federal Definition Of Tax Partnership, Bradley T. Borden
The Federal Definition Of Tax Partnership, Bradley T. Borden
Faculty Scholarship
No abstract provided.
Prevention Of Double Deductions Of A Single Loss: Solutions In Search Of A Problem, Douglas A. Kahn, Jeffrey H. Kahn
Prevention Of Double Deductions Of A Single Loss: Solutions In Search Of A Problem, Douglas A. Kahn, Jeffrey H. Kahn
Articles
In the current tax system, a corporation is treated as a separate taxable entity. This tax system is sometimes referred to as an entity tax or a double tax system. Since a corporation is a separate and distinct entity from its owners, the shareholders, the default rule is that transfers between them are treated as realization events. Without a specific Internal Revenue Code (Code) provision providing otherwise, such transactions will also require the parties to recognize the realized gain or loss. Congress has enacted several nonrecognition corporate provisions when forcing the recognition of income could prevent changes to the form …
Deferred Compensation Reform: Taxing The Fruit Of The Tree In Its Proper Season, Eric D. Chason
Deferred Compensation Reform: Taxing The Fruit Of The Tree In Its Proper Season, Eric D. Chason
Faculty Publications
Executive pensions (or deferred compensation) grabbed headlines after Enron's collapse and fresh concerns over ever-increasing executive pay. They also grabbed the attention of Congress, which reformed executive pensions legislatively in 2004 with § 409A of the Internal Revenue Code. Section 409A merely tightens and clarifies the doctrines that had already governed executive pensions, leaving the basic economics of executive pensions unchanged. Executives can still defer taxation on current compensation until actual payment is made in the future. Deferral still comes at the same price to the employer, namely the deferral of its deduction for the compensation expense. Thus, the timing …