Tax Law Commons^™

A Defence Of The Principled Approach To Tax Settlements, Saul Templeton

Dalhousie Law Journal

The Canadian Minister of National Revenue is responsible for administering and enforcing the majority of tax legislation in Canada. Where disputes arise with particular taxpayers over the correct amount of tax owed, the taxpaying public ought to have confidence that the Minister has a principled basis in law for settling disputes for less than amounts previously assessed. Yet opponents of the principled basis for settlement consistently call for reform, arguing that compromise settlement should be permissible. This paper responds to arguments raised for compromise settlement by reconciling the jurisprudence on the authority of the Minister to settle tax disputes. It …

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 …

Why Should We Not Protest For Consumption Tax Reduction? Consumption Tax Rate As A Partial Mechanism For Increasing Consumer Wealth, Limor Riza, Noam Sher

Loyola of Los Angeles International and Comparative Law Review

If you are an activist protesting against the high costs of living, we would like to offer you one suggestion: do not demand that the government reduce consumption tax. Social activists tend to believe that a government policy reducing consumption tax can, by itself, benefit the general population. This paper explains our suggestion to the contrary.

The tax field alone is insufficient for consumption tax reduction to be effective in increasing consumer wealth over benefiting suppliers. Due to cognitive biases, or heuristics, when the government changes consumption tax rates in order to increase consumers’ well-being, suppliers are able to …

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.

Expansion Of The Profit-Split Method: The Wave Of The Future, Jeffrey M. Kadet

Articles

Recognizing the reality that multinational corporations are centrally managed and not groups of entities that operate independently of one another, the OECD base erosion and profit-shifting project is considering expanded use of the profit-split method. This article provides background on why expanded use of the profit-split method is sorely needed. In particular, resource-constrained tax authorities in many countries are unable to administer or intelligently analyze and contest transfer pricing results presented by multinational groups. Most importantly, this article suggests a simplified profit-split approach using set concrete and objective allocation keys for commonly used business models that should be welcomed by …

Reinventing The Wheel: What We Can Learn From The Tax Reform Act Of 1986, Reuven S. Avi-Yonah

Articles

In 2010, when former Senate Finance Committee Chair Max Baucus was beginning his push toward tax reform, he held a hearing featuring veterans of the great tax reform of 1986. The main conclusion from this hearing was that Congress has changed too much since then to make a repeat of 1986 likely. We are now five years later, Baucus is the U.S.ambassador to China, and no tax reform has happened yet, thus confirming what the veterans told the chair in 2010.

Will Bringing Sales Onshore In The U.K. Lead To Higher Taxes?, Tommaso Faccio, Jeffrey M. Kadet

Articles

The authors discuss changes to the scope of the U.K. royalty withholding tax announced in the 2016 U.K. budget, which, along with the new diverted profits tax, could cause significant increases in U.K. tax paid by multinationals. As will be seen from the example set out in the article, the U.K. royalty withholding tax announced in the 2016 U.K. budget is a major portion of this increase. This will have a major impact on the economics of profit-shifting structures involving revenues that require on-the-ground sales, marketing, and other support activities in the U.K. The U.K.’s actions should be closely examined …

Fair Approaches For Taxing Previously Untaxed Foreign Income, Jeffrey M. Kadet

Articles

In connection with any transition to a new international tax system, we need an approach that effectively deals with the trillions of dollars of previously untaxed foreign income held by CFCs. There is logic and fairness in applying a rate on those earnings that is less than the 35 percent home country rate because the rules of the game are being changed significantly.

Many U.S. multinationals have had legitimate commercial reasons for retaining their earnings overseas. For these, I can happily accept whatever rate Congress chooses, whether it is at the lower 3.5 percent level of TRA 2014, the 14 …

The Treasury's Twenty Year Battle With Treaty Shopping: Article 16 Of The 1977 United States Model Treaty, Robert R. Oliva

Georgia Journal of International & Comparative Law

No abstract provided.

Multistate Export Trade Promotion Under The Export Trading Company Act Of 1982, Joseph M. Gannam

Georgia Journal of International & Comparative Law

No abstract provided.

Annual Survey Of Developments In International Trade Law: 1983, Georgia Journal Of International And Comparative Law

Georgia Journal of International & Comparative Law

No abstract provided.

Annual Survey Of Developments In International Trade Law: 1984, Georgia Journal Of International And Comparative Law

Georgia Journal of International & Comparative Law

No abstract provided.

G8 Principles: Identifying The Anonymous, Max Biedermann

Brigham Young University International Law & Management Review

No abstract provided.

Our Wealth Transfer Tax System -- A View From The 100th Year, Carlyn S. Mccaffrey, John C. Mccaffrey

ACTEC Law Journal

No abstract provided.

Front Matter

ACTEC Law Journal

No abstract provided.

With Marriage On The Decline And Cohabitation On The Rise, What About Marital Rights For Unmarried Partners?, Lawrence W. Waggoner

ACTEC Law Journal

This article draws attention to a cultural shift in the formation of families that has been and is taking place in this country and in the developed world.

Part I uses recent government data to trace the decline of marriage and the rise of cohabitation in the United States. Between 2000 and 2010, the population grew by 9.71%, but the husband and wife households only grew by 3.7%, while the unmarried couple households grew by 41.4%. A counter-intuitive finding is that the early 21st century data show little correlation between the marriage rate and economic conditions.

Because of the Supreme …

The Dueling Transferors Problem In Generation-Skipping Transfer Taxation, Austin Bramwell, Sean R. Weissbart

ACTEC Law Journal

Whether a transfer of property is subject to generation-skipping transfer ("GST") tax depends in part on the identity of the individual who is considered the "transferor." Yet a deep uncertainty as to the identity of the transferor may arise when a beneficiary of a trust assigns his or her beneficial interest to another. Taxpayers, commentators, and the Internal Revenue Service have proposed three possible theories for resolving the question of who is the transferor in those circumstances. A careful analysis of relevant authorities reveals that only one of these theories -- namely, that an assignment of a beneficial interest has …

Family Values: An Evaluation Of Internal Revenue Code Sections 2703 And 2704(B), David Berke

ACTEC Law Journal

No abstract provided.

Super - Liens To The Rescue? A Case Against Special Districts In Real Estate Finance, Christopher K. Odinet

Washington and Lee Law Review

No abstract provided.

How The Über-Wealthy Benefit From Investing Outside Retirement Plans (And How You Can Too), Sergio Pareja

Faculty Scholarship

Current law incentivizes the use of traditional retirement plans, but those plans may not actually produce the best long-term tax situation for the taxpayer. The stepped-up basis at death does not apply to what is known as “income in respect of a decedent” (IRD). Generally, IRD is income that cannot be assigned from one person to another for income tax purposes. This includes pre-tax income set aside in a traditional employer-sponsored retirement plan, such as a 401(k) plan, as well as contributions to a deductible individual retirement account (IRA). Thus, stock held within a traditional employer-sponsored retirement plan or a …