Tax Law Commons^™

Panorama - Caring For The Palace Museum, Bejing, China, James Hagy, Cai Bowen

Rooftops Project

Shi Zhimin discusses his work as Director of the Ancient Building Management Office of The Palace Museum in Beijing, still also recognized by many visitors as the former Chinese imperial palace known as The Forbidden City, with Cai Bowen and Professor James Hagy, Director of The Rooftops Project.

Perspectives - Richard Cohn, Motion Picture Gaffer, Magician, Musician, James Hagy, Kristen Porro

Rooftops Project

The Rooftops Project’s Kristen Porro talks with Richard Cohn, Gaffer (Chief Electrician) to the television and movie industry on location in New York City, and performing magician, who shares tricks of his two trades that not-for-profits can use to make the most of often imperfect performance spaces.

Perspectives - Kimse Yok Mu: An Organization’S Effort For The Advancement Of Life, James Hagy, Shaan Lodi

Rooftops Project

The Rooftops Project’s Shaan Lodi talks with Turkish relief organization Kimse Yok Mu about its approach to the real estate needed to support disaster response and other work in often challenging settings in 96 countries.

The Relevance Games: Congress's Choices For Economic Substance Gamemakers, Charlene Luke

UF Law Faculty Publications

Codification of the economic substance doctrine in 2010 ushered in a new phase in the debate regarding the meaning and reach of the doctrine. The main statutory hint as to the intended scope of the codified economic substance doctrine is ambiguous, providing, “The determination of whether the economic substance doctrine is relevant to a transaction shall be made in the same manner as if this subsection had never been enacted.” This Article argues that this language should be read in light of the codification history, which stretches back for over ten years before enactment. This history suggests that the relevance …

Taxation Without Representation: The Illegal Irs Rule To Expand Tax Credits Under The Ppaca, Jonathan H. Adler, Michael F. Cannon

Faculty Publications

The Patient Protection and Affordable Care Act (PPACA) provides tax credits and subsidies for the purchase of qualifying health insurance plans on state-run insurance exchanges. Contrary to expectations, many states are refusing or otherwise failing to create such exchanges. An Internal Revenue Service (IRS) rule purports to extend these tax credits and subsidies to the purchase of health insurance in federal exchanges created in states without exchanges of their own. This rule lacks statutory authority. The text, structure, and history of the Act show that tax credits and subsidies are not available in federally run exchanges. The IRS rule is …

When Sommers Are Winters: Do Blanks Denote Revocability?, Wendy G. Gerzog

All Faculty Scholarship

In Sommers, ruling on both parties’ motions for partial summary judgment, the Tax Court dealt with claims of issue preclusion and collateral estoppel, equitable apportionment, the completion of gifts of limited liability company interests, and retained powers that would cause estate tax inclusion.

Two aspects of Sommers held particular interest for me. The first is that the parties appear to be arguing their opponent’s conventional position. The second is that the court grappled with whether the blanks left in the gift documents were immaterial to gift completion; however, the court did not address whether the decedent’s completed gifts qualified for …

Worldwide Tax Reform: Reversing The Race To The Bottom, Jeffrey M. Kadet

Articles

The OECD Base Erosion and Profit Shifting Project is now under way, its mission being to suggest ways that countries can work together and amend their domestic laws to combat the corporate profit shifting that has so affected the tax bases of many countries.

The only way to truly eliminate corporate profit shifting is to eliminate the strong motivation multinational enterprises have to achieve "double nontaxation" by engaging in profit shifting. By being subject to current home-country taxation on its worldwide earnings, a multinational cannot achieve double nontaxation. That will eliminate or significantly reduce its motivation to engage in complicated …

Bargaining In The Shadow Of The Debt Ceiling: When Negotiating Over Spending And Tax Laws, Congress And The President Should Consider The Debt Ceiling A Dead Letter, Neil H. Buchanan, Michael C. Dorf

Cornell Law Faculty Publications

If the debt ceiling is inconsistent with existing spending and taxing laws, what must the President do? In earlier work, we argued that when Congress creates a "trilemma"-making it impossible for the President to spend as much as Congress has ordered, to tax only as much as Congress has ordered, and to borrow no more than Congress has permitted-- the Constitution requires the President to choose the least unconstitutional path. In particular, he must honor Congress's decisions and priorities regarding spending and taxing, and he must issue enough debt to do so. Here, we extend the analysis in two ways. …

Unpacking The Force Of Law, Kristin E. Hickman

Vanderbilt Law Review

In its 2011 decision in Mayo Foundation for Education and Research v. United States,' the Supreme Court rejected tax exceptionalism, holding that the general administrative law standards articulated in United States v. Mead Corp. and Chevron USA Inc. v. Natural Resources Defense Council, Inc. govern judicial review of U.S. Department of the Treasury ("Treasury") regulations. In so doing, the Court admonished, "[W]e are not inclined to carve out an approach to administrative review good for tax law only." A few months later, the D.C. Circuit, sitting en banc in Cohen v. United States, reinforced the policy of administrative law uniformity …

The Life And Death Of The Ipswich Grammar School Trust: Is Enduring Dead Hand Control Possible?, Ronald Chester

ACTEC Law Journal

This article examines the reasons for the 360-year longevity of the Ipswich (Mass.) Grammar School trust, which was in force from 1652 to 2012, the longest-running charitable trust in American history. It concludes that the cornerstone of the trust’s longevity was the emphasis of its major donor, the Puritan William Paine, on open-handed contribution to the community, rather than dead hand control. A wealthy merchant and landowner and friend of Massachusetts Bay Colony Governor John Winthrop and his son, Paine imbued his commercial activities with a profound civic-mindedness.

A 1647 law required the establishment of a grammar school by any …

Protecting Your Clients' Assets From Their Future Ex-Sons And Daughters-In-Law: The Impact Of Evolving Trust Laws On Alimony Awards, Christopher J. Roman

ACTEC Law Journal

No abstract provided.

California Income Taxation Of Trusts And Estates, Richard S. Kinyon, Kim Marois, Sonja K. Johnson

ACTEC Law Journal

No abstract provided.

Coming Ashore - Planning For Year 2017 Offshore Deferred Compensation Arrangements: Using Clats, Ppli And Preferred Partnerships And Consideration Of The Charitable Partial Interest Rules, N. Todd Angkatavanich, Jonathan G. Blattmachr, James R. Brockway

ACTEC Law Journal

No abstract provided.

Front Matter

ACTEC Law Journal

No abstract provided.

The Federal Tax Treatment Of Disclaimers Of Future Interests: A Call For Reform, Trent S. Kiziah

ACTEC Law Journal

Federal tax laws essentially preclude individuals with a future interest from disclaiming because the time in which a qualified disclaimer can be executed may pass before the person becomes aware of the interest and long before the interest becomes possessory and fixed as to quality and quantity. This article examines the state of the law prior to enactment of these limiting tax provisions, examines the call for reform by commentators, and examines the legislative history resulting in the current law. The author asserts Congress made an informed decision albeit a poor one. The author recommends Congress revisit the issue and …

The Life And Death Of John J. Stevens, Esq., As A Member Of The Legal Profession, Max Gutierrez Jr.

ACTEC Law Journal

No abstract provided.

Quantitative Model For Measuring Line-Drawing Inequity, Bradley T. Borden

Faculty Scholarship

No abstract provided.

A Preference For Deference: The Benefits Of The First Circuit's Customized Standard Of Review For Collection Due Process Appeals In Dalton V. Commissioner, Adam M. Cole

Villanova Law Review (1956 - )

No abstract provided.

Tax Planning For Marijuana Dealers, Benjamin Leff

Scholarly Articles in Law Reviews & Journals

In recent years, many states have legalized marijuana while the federal government continues to consider all marijuana sales and use illegal. But marijuana industry insiders consider not federal criminal law but federal tax law to be the biggest impediment to the development of a legitimate marijuana industry. State-sanctioned marijuana sellers are required to pay federal income taxes pursuant to § 280E, a formerly largely symbolic provision that Congress enacted to punish drug dealers, but which now could potentially drive legitimate marijuana sellers underground.

This paper proposes a tax strategy that enables state-sanctioned marijuana sellers to avoid the impact of § …

Benefit Expenses: How The Benefit Corporation's Social Purpose Changes The Ordinary And Necessary, Emily Cohen

William & Mary Business Law Review

The recent spread of Benefit Corporations formally challenges the assumption that for-profit companies are strictly profit maximizing entities. Businesses can now incorporate under charitable business purposes that were once restricted to 501(c)(3) non-profit organizations. While incorporating under a charitable purpose is no longer restricted to only non-profit entities, Benefit Corporations are not able to receive the same income tax exemption under the Internal Revenue Code. While for-profit entities do receive some tax benefits for their charitable behavior, such as the charitable donation deduction, the current tax structure does not provide an equal amount of tax benefits for charitable behavior when …