Is The Utpr Extraterritorial Or Discriminatory?,
2025
University of Michigan Law School
Is The Utpr Extraterritorial Or Discriminatory?, Reuven S. Avi-Yonah
Articles
On January 20 President Trump issued two executive orders on international tax. The first order rejected the OECD’s two-pillar project, stating: The OECD Global Tax Deal supported under the prior administration not only allows extraterritorial jurisdiction over American income but also limits our Nation’s ability to enact tax policies that serve the interests of American businesses and workers. Because of the Global Tax Deal and other discriminatory foreign tax practices, American companies may face retaliatory international tax regimes if the United States does not comply with foreign tax policy objectives. This memorandum recaptures our Nation’s sovereignty and economic competitiveness by …
The Samuel & Ronnie Heyman Center On Corporate Governance Invites You To: Taxes Vs Tariffs,
2025
Fordham Law School
The Samuel & Ronnie Heyman Center On Corporate Governance Invites You To: Taxes Vs Tariffs, Heyman Center On Corporate Governance, Cardozo Business Law Society, Luís Calderón Gómez, Harlan Grant Cohen, Scott Maberry, Maria Celis, Gregory Spak
2025 Event Invitations
Market participants are preparing for the tax and trade policies pursued by the second Trump administration. Regarding taxes, proposals include making expiring Tax Cuts and Jobs Act provisions permanent, ending green energy subsidies from the Inflation Reduction Act, and exempting certain income from taxation. Proposed tariffs range from retaliatory measures-in-kind to targeting Chinese market participation to a universal 20% import tariff. On the campaign trail, the President often presented these proposals as part of a shift of financial burdens from domestic taxpayers to foreign companies. In a panel discussion with tax and trade experts, we will seek to determine the …
Esg Irony: Why Corporate Tax Avoidance Must Be Considered,
2025
University of Michigan Law School
Esg Irony: Why Corporate Tax Avoidance Must Be Considered, Reuven S. Avi-Yonah
Articles
Environmental, social, and governance (ESG) investing has been the focus of major attention in corporate law. Many writers praised ESG as the future of corporate governance. The push for ESG comes from the belief that the government is incapable of fulfilling its responsibility of achieving social and environmental goals, and that corporations are frequently in the best position to help. ESG investing has been significantly bolstered by large asset management institutions like BlackRock Group, State Street Global Advisors, and Vanguard Group. The “Big Three” own large stakes in most public corporations, which they have been pushing to address ESG issues.
Tax Experience Isn’T Everything: A Tale Of Two Justices.,
2025
University of Michigan Law School
Tax Experience Isn’T Everything: A Tale Of Two Justices., Reuven S. Avi-Yonah
Articles
Any student of federal income taxation is familiar with a series of important Supreme Court tax decisions written by Justice Harry Blackmun (associate justice, 1970-1994). They would also know of three important decisions written by his contemporary, Justice Thurgood Marshall (associate justice, 1967-1991). It is interesting to compare the two, because Blackmun was the only recent justice with extensive tax practice experience, whereas Marshall had none. Yet, most of Blackmun’s tax opinions were wrong while Marshall’s opinions were right.
Front Matter,
2025
Maurice A. Deane School of Law at Hofstra University
Unleashed Non-Grantor Trust Potential,
2025
Maurice A. Deane School of Law at Hofstra University
Unleashed Non-Grantor Trust Potential, Brent W. Nelson
ACTEC Law Journal
No abstract provided.
Death And Debts,
2025
Maurice A. Deane School of Law at Hofstra University
Death And Debts, Kevin Bennardo
ACTEC Law Journal
Uniform Probate Code section 2-606(a)(1) provides for automatic non-ademption of the unpaid purchase price of specifically devised property that was sold by the decedent after their will was executed but before their death. Rather than receiving the specific property that was left to them in the will, the named beneficiary receives the balance of any outstanding payments that are owed at the time of the decedent's death. This rule doesn't make sense. It doesn't square with the decedent's likely intent. The amount that the beneficiary will receive is largely arbitrary. It is tied to factors that have nothing to do …
Reform The Grantor Trust Rules,
2025
Maurice A. Deane School of Law at Hofstra University
Silent Trusts And The Conflict Of Laws,
2025
Maurice A. Deane School of Law at Hofstra University
Silent Trusts And The Conflict Of Laws, Jeffrey Schoenblum
ACTEC Law Journal
No abstract provided.
Taxes And Certainty: Challenges In Judicial Review Of U.S. Tax Legislation,
2025
University of Michigan Law School
Taxes And Certainty: Challenges In Judicial Review Of U.S. Tax Legislation, Reuven S. Avi-Yonah, Moshe Jaffe
Law & Economics Working Papers
The application of judicial review to tax legislation presents unique challenges and inconsistencies. Unlike other forms of legislation, tax laws in the United States are seldom invalidated by the Supreme Court, and when this does occur, it is done using various and inconsistent tests, suggesting a need for a more balanced and effective approach. This paper explores the U.S. court's approach to judicial review in tax cases, empirically analyzing the methods and tests used in key decisions. The findings will reveal a complex and inconsistent picture, highlighting the need for a more coherent approach. Additionally, the research will analyze several …
Understanding The Effect Of Carried Interest Provisions On Fairness And Equality In The Taxation Of Hedge Fund Profits,
2025
Widener University Commonwealth Law School
Understanding The Effect Of Carried Interest Provisions On Fairness And Equality In The Taxation Of Hedge Fund Profits, Nathan D. Madden
Widener Commonwealth Law Review
Private equity and hedge fund managers (General Partners) typically receive a percentage share of the profits from the funds that they manage as part of their compensation for managing the investments made by investors. This compensation is commonly referred to as “Carried Interest.” General Partners are then entitled to a more favorable tax treatment of their compensation—as compared to most other taxpayers—by deferring the tax on Carried Interest and having it taxed at a lower, preferential rate. Many view these Carried Interest tax provisions as providing an unfair and unjustified tax advantage. This paper will explore alternatives that would arguably …
Is The Us Exit Tax Constitutional?,
2025
University of Michigan Law School
Is The Us Exit Tax Constitutional?, Reuven S. Avi-Yonah
Law & Economics Working Papers
The recent US Supreme Court decision in Moore vs. United States raised the possibility that the Court would declare that realization is required for a tax provision to be constitutional. The US exit tax on expatriations is the most likely vehicle for a post-Moore constitutional challenge to taxation without realization because (a) it involves individual taxpayers; (b) it does not involve attribution, because the tax is imposed directly on the expatriating taxpayer, and (c) it involves precisely the kind of tax that was the direct target of the Moore litigation, namely a mark to market tax on rich taxpayers (the …
Should Country-By-Country Reporting Be Public?,
2025
University of Michigan Law School
Should Country-By-Country Reporting Be Public?, Reuven S. Avi-Yonah
Articles
Under action 13 of the base erosion and profit shifting project, large multinational enterprises are obligated to file country-by-country reports with tax authorities. As of April 2024, over 80 countries have adopted a multilateral agreement on exchanging CbC reports. The United States has not adopted the multilateral agreement, but regulations require U.S.-based MNEs to file these reports with the IRS, which can then exchange them with other countries under tax treaties.
Unveiling Injustice: An Analysis Of Irc Section 7430 And The Quest For Fairness In Taxpayer Administrative And Judicial Proceedings With The Irs,
2025
Brooklyn Law School
Unveiling Injustice: An Analysis Of Irc Section 7430 And The Quest For Fairness In Taxpayer Administrative And Judicial Proceedings With The Irs, Kevin T. White, Tammy W. Cowart, Roger Lirely
Brooklyn Law Review
The American rule and doctrine of sovereign immunity are serious barriers affecting access to justice for individuals and small businesses. In this Article, we explore the legislative history of and evolution of the amendments to section 7430 of the Internal Revenue Code, which allows prevailing taxpayers in tax proceedings who meet certain substantive and procedural requirements to recover their attorneys’ fees and costs. We also examine in depth the requirements under section 7430 for recovering administrative and litigation costs, looking at select judicial decisions at how these requirements have been applied, including decisions applying the statutory limitations on attorneys’ fees …
Should The United States Abandon Citizenship-Based Taxation?,
2025
University of Michigan Law School
Should The United States Abandon Citizenship-Based Taxation?, Reuven S. Avi-Yonah
Law & Economics Working Papers
President Trump proposed during the election campaign to end the "double taxation" of American citizens living overseas. To which the answer is, what double taxation? Americans living overseas already benefit from three significant provisions that in most cases prevent any double taxation, and because of these most of them do not have any U.S. tax liability. Those who do are typically wealthier, derive income from investments or from high wages, and are not subject to foreign tax because they live in tax havens or in countries that do not tax rich immigrants on foreign source income, and they do not …
Taking The Sting Out Of The Slap On The Wrist: Why The Tax Cuts And Jobs Act Deductibility Carve-Outs Under I.R.C. Section 162(F) Are Hurting The Average American Taxpayer,
2025
University of Miami Law School
Taking The Sting Out Of The Slap On The Wrist: Why The Tax Cuts And Jobs Act Deductibility Carve-Outs Under I.R.C. Section 162(F) Are Hurting The Average American Taxpayer, Rachel Pritzlaff
University of Miami Business Law Review
The Section 162(f) carve-outs created under the Tax Cuts and Jobs Act of 2017 should concern all taxpayers. Where there were no exceptions previously, now both civil and criminal wrongdoers have the potential to deduct the payments they make in restitution for their actions from their taxable income as a business loss. These carve-outs represent government spending for the benefit of individuals and corporations behaving badly and at the expense of the average American taxpayer. The government is leaving tax revenue on the table by allowing deductibility for fines and penalties, which negatively impacts the federal “power of the purse.” …
February 5, 2025 — Letter To The House Ways And Means Committee On Tax,
2025
American Dental Association
February 5, 2025 — Letter To The House Ways And Means Committee On Tax, American Dental Association
Advocacy in Action letters
No abstract provided.
Reforming The Medical Expense Income Tax Deduction To Better Reflect "Crip Time",
2025
Pepperdine Caruso School of Law
Reforming The Medical Expense Income Tax Deduction To Better Reflect "Crip Time", Diane Kemker
University of Michigan Journal of Law Reform Caveat
Extraordinary medical expenses— whether due to a one-time occurrence or a chronic condition— happen on their own time. These expenses, their causes, and their consequences (medical, personal, financial, or all of these) can rarely be neatly cabined into a single calendar year. Treatment requiring an expensive prescription medication or complex surgery not covered by insurance may address a condition that arose over years. That condition may have interfered with a taxpayer’s ability to work in prior years, the current year, and perhaps for years to come, even for the rest of the taxpayer’s earning life. The medical condition of a …
Tax In Law Schools,
2025
University of Washington School of Law
Tax In Law Schools, Michael Hatfield
Articles
At the 2023 Association of American Law Schools Tax Section meeting, professors discussed their impressions of a decline in the number of JD students studying tax. Their impressions were consistent with declines that have been documented in similar fields. Between 2011 and 2021, U.S. accounting programs saw an 18% drop in students, while new CPA candidates declined 39% from 2010 to 2022. In the United Kingdom, the number of law schools that teach tax has diminished by 43% since 2002. This Article examines tax education in 40 U.S. law schools, focusing on course offerings and enrollment trends from 2012 to …
Law For The Rich,
2025
Columbia Law School
Law For The Rich, Alex Raskolnikov
Faculty Scholarship
With top incomes and wealth reaching historic highs, scholars and politicians have proposed new taxes and novel legal rules aimed at reversing the emergence of the new Gilded Age. Yet while new taxes target the rich directly by imposing greater burdens only on those with incomes or wealth above multi-million-dollar thresholds, none of the proposed legal reforms do anything of the sort. There appears to be no interest in changing property law, corporate law, antitrust law, or labor law, among others, to have special, more burdensome rules applicable only to the rich. This Article asks: Why not? Why shy away …
