Taxation-Federal Commons^™

Unreasonable Compensation In The Professional Corporation, Vincent J. Falcone

Akron Law Review

This comment will discuss the federal income tax issue of unreasonable compensation as it affects the incorporated professional. Discussion will first center on the modus operandi of the professional corporation, and how the compensation issue arises. Unreasonable compensation will then be defined and explained in that context. Next, the actual considerations used in determining whether compensation is excessive or not will be discussed. Then, the additional requirement that the remuneration be compensation in fact, and not a return on investment, will be investigated. The applicability of the 50% maximum tax on personal service income will also be analyzed. Finally, some …

Federal Income Tax Developments: 1979

Akron Law Review

The scope of this survey is limited to the substantive developments in the field of income taxation. The thrust of this article is not only to identify new developments, but also to trace these concepts through their formulative changes

Federal Income Tax Developments: 1980

Akron Law Review

The scope of this survey is limited to the substantive developments in the field of income taxation. The thrust of this article is not only to identify new developments, but also to trace these concepts through their formulative changes.

I.R.C. §(A)(3)(D): Reorganizing An Insolvent Savings And Loan Association, Brenda D. Crocker, Michael L. Unti

Akron Law Review

Whether or not the new reorganization provision, section 368(a)(3) (D), succeeds in inducing the acquisition of insolvent savings and loan associations, it is likely to be viewed as a creative attempt at a solution. To best illustrate the novelty of Congress's approach, the ensuing sections begin with an explanation of federal tax law as it has evolved in the context of insolvency reorganizations.

Federal Income Tax Developments: 1981

Akron Law Review

The scope of this survey is limited to the substantive developments in the field of income taxation. The thrust of this article is not only to identify new developments, but also to trace these concepts through their formulative changes.

Individual, Couple Or Family? The Unit Of Taxation For Transfer Tax Purposes: A Shifting Focus, Anne-Marie Rhodes

Akron Law Review

This paper examines the shifting focus of the transfer tax system from the perspectives of the articulated primary purpose for the taxes and the appropriate unit of taxation given that purpose. The historical progression shows that as a sense of purpose became less clear, the unit of taxation similarly became less focused.

Internal Revenue Service Review Of Tax Accrual Workpapers United States V. Arthur Young & Co., Steven Dimengo

Akron Law Review

The broad summoning power of the Internal Revenue Service [IRS] which enables it to examine any documents related to a taxpayer's liability' was challenged in United States v. Arthur Young & Co. The major issue of the proceedings was whether tax accrual workpapers, prepared by a taxpayer's independent auditor during the course of an annual audit, were subject to disclosure to the IRS pursuant to a summons under section 7602 of the Internal Revenue Code of 1954. In reaching its holding, the Supreme Court had to determine whether tax accrual workpapers were relevant to an IRS inquiry within the meaning …

Federal Income Tax Developments: 1984, Merlin G. Briner, Richard J. Kovach, James W. Childs

Akron Law Review

FEDERAL INCOME TAX DEVELOPMENTS: 1984 is the twelfth in a series of articles published at The University of Akron School of Law. In keeping with the established format, the scope of this survey is limited to selected substantive developments in the field of income taxation.

Section 280a: Vacation Home And Rental Property, Craig Teller

Akron Law Review

In addition to the personal and business use of a unit, the rules under Internal Revenue Code Section 280A ("280A") also cover situations such as time-sharing arrangements, rental pools, shared equity financing deals and office-at-home deductions. Though 280A applies to individuals, partnerships, trusts, estates, and S Corporations, this comment assumes the "taxpayer" to be an individual taxpayer. This author will first analyze 280A to provide general guidance in the rental of a unit. After the overall analysis, the author will focus on the following rental situations:

1. Analysis of Personal Use.
2. Analysis of Rental Use.
3. Further Analysis of Allocating Rental & …

United States Trust Co. V. I.R.S., Scott D. Brackett

Akron Law Review

During the course of its administration, an estate may receive income that is subject to federal income tax. When, and if, an estate receives such income the executor is faced with the task of filing the estate's income tax return along with a number of related considerations. One of the more important considerations is the allocation of the burden of such tax between the beneficiaries of the estate and the estate itself.

Subchapter J of the Internal Revenue Code provides the mechanism to allocate that burden between the beneficiaries and the estate. Generally, Subchapter J attempts to allocate the tax …

Offshore Web-Based Gambling Accounts Are Subject To Fbar, Min (Megan) K. Park

The Contemporary Tax Journal

No abstract provided.

On The Federal Excise Tax Exemption For U.S. Gasoline Exports, Bret N. Bogenschneider

The Contemporary Tax Journal

No abstract provided.

Exile To Main Street: The I.R.S.'S Diminished Role In Overseeing Tax-Exempt Organizations, Evelyn Brody, Marcus Owens

Chicago-Kent Law Review

The Internal Revenue Service’s post-Citizens United approach to political activity by would-be tax-exempt organizations has threatened the financial health of the entire agency. Suffering from a siege mentality in the best of times, the IRS predictably and understandably responded to the asserted “scandal” by retreating into a shell of bureaucratic reshuffling, management mumbo-jumbo, and paper moving. A fresh cadre of senior management lacking relevant experience has overhauled the exempt-organization function and emphasized granting recognition of exemption now and (possibly) asking questions later. The new self-certification process of exemption for small charities could also be setting the agency up for the …

Politics, Disclosure, And State Law Solutions For 501(C)(4) Organizations, Linda Sugin

Chicago-Kent Law Review

Since the Supreme Court’s 2010 decision in Citizens United v. FEC, there has been an explosion in section 501(c)(4) organizations active in politics. Unable to effectively process applications, the IRS mishandled organizations with conservative political ties, producing a scandal from which the agency has yet to recover. It proposed regulations that would have helped it more easily determine eligibility for 501(c)(4) exemption, but after massive public outcry, the regulations were withdrawn. No new regulations will be proposed before the 2016 presidential election.

Given the federal government’s inability to address the problem of dark money politicking by 501(c)(4) organizations through …

Fragmented Oversight Of Nonprofits In The United States: Does It Work? Can It Work?, Lloyd Hitoshi Mayer

Chicago-Kent Law Review

The United States is well known for its distinctive, although not unique, division of political authority between the federal government and the various states. This division is particularly evident when it comes to oversight of nonprofit organizations. The historical focus of federal government oversight has been limited primarily to qualification for tax exemption and other tax benefits, with more plenary power resting with state authorities. Over time, however, the federal government’s role has come to overlap significantly with that of the states, and many nonprofits have become subject to regulation by multiple states as their operations and donor bases expand …

Federal Taxation, Robert Beard

Mercer Law Review

The past year saw few significant tax cases decided in the United States Court of Appeals for the Eleventh Circuit.' However, the court did issue two interesting opinions: one dealing with the characterization of a real estate developer's gain as ordinary income and another dealing with a statutory interpretation question relating to the first-time homebuyer tax credit. These two cases, both reversals of the United States Tax Court, are discussed below.

Deciphering The Supreme Court's Opinion In Wynne, Walter Hellerstein

Scholarly Works

In Wynne, the Supreme Court held that Maryland's personal income tax regime violated the dormant Commerce Clause because It taxed income on a residence and source basis without giving a credit to residents for in· come taxed on a source basis by other states. The Court suggested, how· ever, that a state may tax residents on all their Income without providing a credit for taxes paid by other states if the state did not tax nonresidents on income from sources within the state, even though such a taxing regime might result in double taxation of interstate commerce.

The Contemporary Tax Journal Volume 5, No. 1 – Spring/Summer 2015

The Contemporary Tax Journal

No abstract provided.

Attempted Repeal Of Personal Casualty Loss Deduction, Nidhi Jain

The Contemporary Tax Journal

No abstract provided.

It’S Not That Difficult: The Shared Economic Growth Solution To Tax Reform, Matthew Lykken

Pace Law Review

In this article, I outline the latest version of the Shared Economic Growth package proposal and explain how it accomplishes all of its goals, with reference to some of the recent scholarly works that support it. I then walk through the derivation of the numbers to show that it really works, based on conservative assumptions and without any reliance on economic growth or voodoo, and that it would provide a substantial addition to revenue in the coming years. These numbers are based on 2010 data, the most recent comprehensive data available, and thus prove that the proposal works in the …

Income Tax Treatment Of Same-Sex Couples: Windsor Vs State Marriage Bans, Samantha Schmid

Marquette Law Review

In 1996 the United States Congress passed the Defense of Marriage Act, which codified the federal definition of marriage as between one man and one woman. But in 2013 the United States Supreme Court struck down this definition of marriage and, for the first time, the federal government began recognizing same-sex marriages. However, many states, including Wisconsin, continued to have state bans on same-sex marriage, and many of these bans have recently been challenged in state and federal courts. The effect of this has been a patchwork of laws that provide same-sex couples different rights based upon the state in …

The Agency Exception To The Anticipatory Assignment Doctrine, Jeffrey H. Kahn, Douglas A. Kahn

Scholarly Publications

In this article, the authors discuss the agency exception to the anticipatory assignment of income doctrine and explain the policy justification for the exception.

How Would The Supreme Court Rule On Loving And Ridgely?, Steve R. Johnson

Scholarly Publications

On March 3 the Supreme Court unanimously decided Direct Marketing Association v. Brohl, a case arising under the Tax Injunction Act {TIA). The focus of this article is not on Brohl on its own terms but on the implications of Brohl· for the Loving line of cases and for future cases that may arise out of Loving. I believe Brohl reveals that the Supreme Court would likely uphold the approach taken in Loving were a case of this kind to reach the Court. For that reason, the government was wise not to seek Supreme Court review of Loving. Unless it …

Income Tax - Foreign Earned Income Exclusion - Effect Of The Economic Recovery Tax Act Of 1981 On Citizens Or Residents Of The United States Living Abroad, Jonathan M. Engram

Georgia Journal of International & Comparative Law

No abstract provided.

Tax Planning: Foreign Investment In United States Real Property, William H. Newton Iii

Georgia Journal of International & Comparative Law

No abstract provided.

Income Tax - Deductions For Facilitating Payments To Foreign Government Officials, Birney Bull

Georgia Journal of International & Comparative Law

No abstract provided.

Tax Whistleblower Statute: Obtaining Meaningful Appeals Through The Appropriate Scope Of Review, Matthew R. Stock

Florida State University Law Review

No abstract provided.

Reviving Fiscal Citizenship, Ajay K. Mehrotra

Michigan Law Review

April 15 is a day that most Americans dread. That date is, of course, when federal and nearly all state-level individual income tax returns are due. Agonizing over the filing of income tax returns has long been a perennial part of modern American legal culture. Since the mid-1940s, when the United States first adopted a return-based mass income tax, the vast majority of Americans have been legally required to file an annual Form 1040. Over the years, taxpayers have been complaining about, procrastinating over, and generally loathing the filing of their annual tax returns. Indeed, in recent times, April 15 …

Finishing The Job On Section 356(A)(2): Closing Loopholes And Providing Consistent Treatment To Boot In Tax-Free Reorganizations, Trevor Crowley

BYU Law Review

No abstract provided.

Foreign Oil And Taxation: The Need For A Coordinated Energy Policy, E.C. Lashbrooke Jr.

Georgia Journal of International & Comparative Law

No abstract provided.