Tax Law Commons^™

A Conceptual Framework For The Regulation Of Cryptocurrencies, Omri Y. Marian

UF Law Faculty Publications

This Essay proposes a conceptual framework for the regulation of transactions involving cryptocurrencies. Cryptocurrencies offer tremendous opportunities for innovation and development but are also uniquely suited to facilitate illicit behavior. The regulatory framework suggested herein is intended to support (or at least not impair) cryptocurrencies’ innovative potential. At the same time, it aims to disrupt cryptocurrencies’ criminal utility. To achieve these purposes, this Essay proposes a regulatory framework that imposes costs on the characteristics of cryptocurrencies that make them especially useful for criminal behavior (in particular, anonymity) but does not impose costs on characteristics that are at the core of …

Recent Developments In Federal Income Taxation: The Year 2014, Martin J. Mcmahon Jr., Bruce A. Mcgovern, 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 2014--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-- unless one of us decides to go nuts and spend several pages writing one …

The Rescission Doctrine: Everything Old Is New Again, Allen Sparkman

American University Business Law Review

No abstract provided.

Going Green: Legal Considerations For Marijuana Investors And Entrepreneurs, Frank Robison

American University Business Law Review

No abstract provided.

The Estate Planner's Income Tax Playbook, Samuel A. Donaldson

Faculty Publications By Year

No abstract provided.

Airbnb And The Housing Segment Of The Modern Sharing Economy: Are Short-Term Rental Restrictions An Unconstitutional Taking, Jamila Jefferson-Jones

Law Faculty Research Publications

No abstract provided.

Taxes, The Problem And Solution: A Model For Vanishing Deductions And Exclusions For Residence-Based Tax Preferences, Phyllis C. Taite

NYLS Law Review

No abstract provided.

Belk V. Commissioner: Land Substitutions In Conservation Easements, Morgan Davis

Loyola of Los Angeles Law Review

No abstract provided.

The Case For A Canadian Offer-In-Compromise Program, Colin Jackson

Articles, Book Chapters, & Popular Press

Unlike the American Internal Revenue Service, the Canada Revenue Agency (CRA) is not permitted to compromise a tax debt or to accept less than the full amount that an impecunious taxpayer owes. Recent estimates of undisputed-uncollected tax debts in Canada approach $29 billion, suggesting it may be time for a change. This article advocates for the implementation of an offer-in-compromise program as a way to mitigate these uncollected tax debts and to promote overall equity in the tax system. The author argues that if the CRA has discretion to accept less than the full amount owed in certain cases, where …

Corporate Inversions: Realigning Tax Incentives To Keep Corporations In The United States, Michael A. Gose

CMC Senior Theses

ABSTRACT

This thesis analyzes the corporate income tax, more specifically related to foreign sourced income, and proposes a solution to reduce the desirability of tax inversions and restore the competitiveness of United States’ corporations. The paper introduces the topic and discusses why corporate taxation has returned to the forefront of political discussion. It then addresses early 2000s regulation passed in response to increased inversion activity of the late ‘90s and how that regulation failed to achieve its intended purpose. Then, the current laws will be introduced with a focus on corporate actions to circumvent these laws in order to reduce …

A Retrospective On The Contributions Of Neil Brooks: So Far, Kim Brooks

Articles, Book Chapters, & Popular Press

This introduction to a symposium in honour of Neil Brooks originated in opening remarks at a workshop held on 10-11 May 2013.

The Troubling Role Of Tax Treaties, Kim Brooks, Richard Krever

Articles, Book Chapters, & Popular Press

The notional purpose of tax treaties is to prevent double taxation and tax evasion. The actual purpose is to reallocate taxing rights between an investor’s home jurisdiction (the residence state) and the host jurisdiction (the source state). The effect is to reduce or remove the taxing rights of a source state (a capital importing state) to leave more room for tax in the residence state (a capital exporting state). The revenue costs of agreeing to reduce taxing rights in a treaty are thought to be offset by other benefits. The benefits may be exaggerated. To the extent they may actually …

Inversions And Competitiveness: Reflections In The Wake Of Pfizer-Allergan, Reuven S. Avi-Yonah, Omri Marian

Articles

The recent announcement that Pfizer Inc. has reached a merger agreement with Allergan PLC, with the combined entity being tax resident in Ireland, is a good occasion to reconsider U.S. policy options in regard to inversions. We consider an "inversion" as any transaction in which a U.S. corporation becomes foreign for tax purposes without a meaningful change to its underlying business or management activities. This short article explains what we believe to be the true motives of inversion transactions, as well as potential policy responses, in light ofthe Pfizer inversion. Part II explains what is unique about the Pfizer inversion …

Cancellation Of Debt And Related Transactions, Douglas A. Kahn, Jeffrey H. Kahn

Articles

If a taxpayer borrows money, the borrowed funds are not included in the taxpayer's gross income. That treatment is proper even though the taxpayer has increased his assets by the amount he borrowed because he also has created a corresponding liability to pay back the loan. The taxpayer's net: wealth has not increased. 'The more difficult and interesting questions arise when the taxpayer fails to repay the loan. At first blush, it would appear that upon cancellation of a loan, the taxpayer should have income for the amount that was cancelled. However, the current tax treatment is not that simple. …

企業の社会的責任と戦略的租税行動 [Corporate Social Responsibility And Strategic Tax Behavior], Reuven S. Avi-Yonah, Keisaku Koga Translator

Articles

This paper addresses two questions. First, from the perspective of the corporation, should the corporation cooperate and pay the corporate tax, or should it engage in "strategic" tax behavior designed to minimize or eliminate its corporate tax burden? Second, from the perspective of the state, should the state use the corporate tax just to raise revenue, or should it also try to use it as a regulatory tool to steer corporate behavior in directions that it deems beneficial to society? The paper argues that whatever our view of the nature of the corporation and of the legitimacy of corporate social …

Modernizing The State Corporate Income Tax: Market-Based Apportionment For Content Providers, Richard Pomp

Faculty Articles and Papers

This Issue Paper discusses how technology has overtaken the traditional ways the states tax the income of “content providers” that operate broadcast and cable networks, sell advertising, and produce content such as movies and television programs. This content is licensed at wholesale to distributors and along with the advertising, is watched by customers of these distributors on their televisions, smart phones, tablets, gaming consoles, and computers— either in their homes or on the move.

The so-called “model” for taxing multistate businesses like content providers--the Uniform Division of Income for Tax Purposes Act (UDITPA)--was developed in 1957 and has been adopted …

The Denial Of Irs Access To Its Adversary's Playbook, Allen Madison

Faculty Publications

When examining a corporate taxpayer, the IRS often seeks special accounting documents called tax accrual workpapers. These workpapers often contain privileged documents, but the IRS does not care. It believes it is entitled to the documents despite that the work product doctrine protects the documents from the IRS's investigation authority. Although the law seems clear, some courts appear to have ignored the law and permitted the IRS to obtain the documents in some cases. Differing results under similar circumstances have made the law less clear. The IRS should stop trying to obtain taxpayers' work product, and the Supreme Court should …

The Rise And Fall Of Chevron In Tax: From The Early Days To King And Beyond, Steve R. Johnson

Scholarly Publications

No abstract provided.

Testing The Models Of Tax Compliance: The Use-Tax Experiment, Adam B. Thimmesch

Utah Law Review

Researchers in a number of fields have explored the question of why people voluntarily comply with the tax laws. The resulting scholarship suggests that a number of factors influence that decision, but the precise role of, and interaction between, those factors continue to be subjects of debate. More research is thus needed, including field research to put the current theories to test in real-life settings. This Article proposes that state use taxes—known primarily as the taxes that are due when taxpayers purchase items online without paying sales taxes—provide a remarkable opportunity for that research. Compliance with those taxes is virtually …

Catalogs, Alex Stein, Gideon Parchomovsky

Faculty Scholarship

No abstract provided.