Taxation-Federal Commons^™

Recent Developments In The Income Taxation Of Individuals, Trusts, Estates And Partnerships, Meade Emory

William & Mary Annual Tax Conference

No abstract provided.

Tax Issues Affecting Individuals, Arnold H. Koonin

William & Mary Annual Tax Conference

No abstract provided.

The Future Of Source-Based Taxation Of The Income Of Multinational Enterprises, Robert A. Green

Cornell Law Faculty Publications

Corporate Redemption In The Context Of Martial Dissolutions: I.R.C. § 1041 And Arnes V. United States, Thomas Monaghan

Washington Law Review

In Ames v. United States the Ninth Circuit held that Temporary Treasury Regulation § 1.1041-IT, A-9 extended nonrecognition treatment to an ex-wife whose 50 percent interest in a corporation was redeemed pursuant to a divorce settlement, thereby leaving her ex-husband as the sole owner of the corporation. In doing so, the court not only contradicted the precedential treatment of bootstrap stock acquisitions but also misapplied its own interpretation of this regulation. This Note argues that a transaction such as that in Ames falls outside of the scope of the regulation and, therefore, the precedent surrounding bootstrap acquisitions should have controlled.

Federal Income Taxation Of U.S. Branches Of Foreign Corporations: Separate Entity Or Separate Rules?, Fred B. Brown

All Faculty Scholarship

Foreign corporations conduct U.S. business activities either through U.S. subsidiaries or U.S. branches. A U.S. subsidiary of a foreign corporation generally is taxed as any other domestic corporation, that is, as a separate taxable entity apart from its foreign parent. In contrast, a U.S. branch of a foreign corporation is not treated as a separate taxable entity; instead, the Code and regulations employ a set of special rules that allocate and apportion to the U.S. branch a portion of the foreign corporation's income in order to determine the net income subject to U.S. tax.

The rules used for taxing U.S. …

'Death And Taxes' And Hypocrisy, John W. Lee

Faculty Publications

Professor Lee finds the "death and taxes" poem by Rep. Ewing hypocritical for several reasons. He notes that the poem is derived from a 1920s populist attack on Treasury Secretary Mellon for cutting taxes on the rich in the name of trickle-down economics while relying on regressive excise taxes on the masses -- an attack similar to that waged by then-Governor Clinton during the 1992 presidential campaign. Further, says Lee, the Bush administration displayed more of a preference for regressive excise taxes than the Clinton plan, whose reliance in part on consumption taxes appears a consequence of 25 years of …

Federal Income Tax—26 U.S.C. § 280a(C)(1)(A)—The Self-Employed Taxpayer's Dashed Hopes Of A Home Office Deduction. Commissioner V. Soliman, 113 S. Ct. 701 (1993)., Jeannie L. Denniston

University of Arkansas at Little Rock Law Review

No abstract provided.

Federal Taxation, Steven C. Evans

Mercer Law Review

Nineteen ninety-two was not a banner year for substantive federal income tax decisions for the Eleventh Circuit. Although the Eleventh Circuit decided several procedural tax cases, several cases under the Employment Retirement Income Security Act of 1974 ("ERISA"), and several criminal tax cases, the Eleventh Circuit decided only one substantive tax case. This Article reviews the substantive tax case, the procedural tax cases, and the ERISA cases decided by the Eleventh Circuit in 1992.

The Income Tax Treatment Of Social Welfare Benefits, Jonathan Barry Forman

University of Michigan Journal of Law Reform

Part I of this Article describes the major social welfare programs in the United States. Part II outlines the basic structure of the federal income tax and describes how social welfare benefits are treated by the income tax system. Finally, Part III surveys some recent proposals to tax particular social welfare benefits and considers the arguments for and against taxing such benefits. The Article concludes that the need for new revenue sources will push the federal government to reconsider the tax treatment of social welfare benefits.

President Clinton's Capital Gains Proposals, John W. Lee

Faculty Publications

Professor Lee believes that the generic capital gains rate should not be increased over 28 percent for revenue and political reasons. But to reflect that, on the average, capital gains realized by middle-income families consists entirely of inflation gain, while half of the capital gain realized at the 31- percent bracket and above consists of economic gain, increasing to 80-percent economic at the very top, he argues that a greater exclusion should be provided at the 28- and 15-percent brackets, either by a "progressive schedule" or by a $3,500 annual exclusion. To strengthen the political base for increasing the top …

Choosing The Form Of A Federal Value-Added Tax: Implications For State And Local Retail Sales Taxes, Alan Schenk

Law Faculty Research Publications

No abstract provided.

The Disclosure Of State Corporate Income Tax Data: Turning The Clock Back To The Future, Richard Pomp

Faculty Articles and Papers

No abstract provided.

The Future Of Transfer Taxation: Repeal, Restructuring And Refinement, Or Replacement, John E. Donaldson

Faculty Publications

No abstract provided.

A Historical Essay And Economic Assay Of The Capital Asset Definition: The Taxpayer And Courts Are Still Mindfully Guessing While Congress Doesn't Seem To (Have A) Mind, Joseph Byron Cartee

William & Mary Law Review

No abstract provided.

Reflections On United States V. Helmsley: Should "Impossibility" Be A Defense To Attempted Income Tax Evasion?, Ronald H. Jensen

Elisabeth Haub School of Law Faculty Publications

This Article analyzes the appropriateness of the No-Tax-Due defense, and the circumstances in which the No-Tax-Due defense should prevail against a charge of attempted income tax evasion. Part II poses, as a basis for analysis, a set of hypothetical cases in which the defense is potentially available. Part III reviews the background of this issue, including the statutory scheme of the federal tax crimes, relevant legislative history and the judicial development of the No-Tax-Due defense. Part IV reviews the impossibility defense in the law of attempt and points out its similarity to the No-Tax-Due defense. Part V proposes a revised, …

Tax-Deferral Transactions: Installment Sales, Like-Kind Exchanges And Involuntary Conversion, William T. Hutton

Faculty Scholarship

No abstract provided.

Schneer V Commissioner: Continuing Confusion Over The Assignment Of Income Doctrine And Personal Service Income, Ronald H. Jensen

Elisabeth Haub School of Law Faculty Publications

This article will analyze the proper application of the assignment of income doctrine to personal service income. Part II will trace the historical development of the assignment of income doctrine and will analyze the doctrine's underlying rationale. The importance of distinguishing between gratuitous and nongratuitous assignments of income will be developed in this Part. Part III will present a number of hypothetical situations drawn from actual cases and rulings that involve the application of the doctrine to personal service income. This will both show the pervasiveness of the doctrine and lay the basis for further analysis. Part IV will demonstrate …

Enforcing The Fundamental Premises Of Partnership Taxation, Rebecca S. Rudnick

Articles by Maurer Faculty

No abstract provided.

James Madison And Public Choice At Gucci Gulch: A Procedural Defense Of Tax Expenditures And Tax Institutions, Edward A. Zelinsky

Articles

Few academic doctrines can claim the intellectual and political success of tax expenditure analysis. In roughly a generation's time, Professor Surrey's procedural and substantive critique of tax subsidies has become entrenched in the law school curriculum and in legal scholarship. More impressively, the tax expenditure concept has been enshrined in federal law and become part of the daily discourse of the national budget process.

Corporate Tax Policy And The Right To Know: Improving State Tax Policymaking By Enhancing The Legislative And Public Access, Richard Pomp

Faculty Articles and Papers

This report examines the need for disclosure of state corporate income tax data in order to facilitate more thoughtful tax policymaking as well as accountability and openness in government. While disclosure of federal income tax data has been resolved by the SEC’s required disclosures of public corporations, the only states that have laws mandating disclosure of information relating to their state’s income tax are Arkansas, West Virginia, and Massachusetts.

Firm-specific disclosure of corporate tax information at the state level is necessary for informed tax policy, essential to public understanding of corporate tax reform issues, and will complement SEC mandated disclosures. …

The Federal Courts Of Appeals' Use Of State Court Decisions In Tax Cases: "Proper Regard" Means "No Regard", Paul L. Caron

Oklahoma Law Review

No abstract provided.

Tax Policy At The Beginning Of The Clinton Administration, Michael J. Graetz

Faculty Scholarship

Ten years ago, in 1983, the Yale Journal on Regulation was started by students at the Yale Law School to foster scholarship and debate on issues of regulatory policy. Today the Journal staff consists of students from Yale University graduate and professional programs in law, management, forestry, and public health. One of the Journal's primary missions was to track the regulatory/deregulatory developments under the Reagan Administration and later the Bush Administration. Since our tenth anniversary coincided with the installment of a Democratic Administration under President Clinton, we have asked two professors at the Yale Law School to submit an essay …

Important Developments In Exempt Organizations, Stephen Schwarz, Miriam Galston

Faculty Scholarship

No abstract provided.

Of Blimps And Appraisals And Judicial Grace, William T. Hutton

Faculty Scholarship

No abstract provided.

Standards Of Tax Practice Accuracy-Related Penalties; Aba Opinion 85-352, J. Timothy Philipps

William & Mary Annual Tax Conference

No abstract provided.

Recent Developments - Taxation Of Individuals, Partnerships, Estates And Trusts And Exempt Organizations, Meade Emory

William & Mary Annual Tax Conference

No abstract provided.

Doping Out The Capitalization Rules After Indopco, John W. Lee

Faculty Publications

In this article, Lee provides guidance for Treasury and the IRS (in their promised clarification of application of INDOPCO). He delineates how to avoid what he perceives as the past pitfalls of capitalization of recurring, insubstantial, or relatively short-lived expenditures with Ito, or inadequate, amortization. The article also sets forth models for (a) amortizing as. a freestanding deferred charge long-lived substantial self-created intangibles such as business expansion costs, including employee training costs, and (b) expensing, or perhaps better, amortizing currently less substantial or regularly recurring, steady state self-created intangibles (such as repairs and advertising, respectively).

Why Congress Needs To Fix The Employee/Independent Contractor Tax Rules: Principles, Perceptions, Problems, And Proposals, Walter H. Nunnallee

North Carolina Central Law Review

No abstract provided.

Federal Taxation, Steven C. Evans

Mercer Law Review

The federal tax cases decided by the Eleventh Circuit during 1991 reversed one trend and continued another trend of 1990. The Eleventh Circuit decided a number of procedural tax cases during 1991. This trend is similar to the number of procedural cases decided in years prior to 1990, but is substantially more than the number of procedural cases decided by the Eleventh Circuit in 1990. Cases decided under the Employment Retirement Income Security Act of 1974 ("ERISA"), as amended, continued to constitute the majority of the substantive tax cases decided by the Eleventh Circuit during 1991.

Tax Expenditure Budgets: A Critical View, Jeffrey S. Lehman, Douglas A. Kahn

Cornell Law Faculty Publications

No abstract provided.