Pre-Enforcement Litigation Needed For Taxing Procedures,
2017
University of Cincinnati College of Law
Pre-Enforcement Litigation Needed For Taxing Procedures, Stephanie Mcmahon
Faculty Articles and Other Publications
Courts have opened tax guidance to procedural attack. Consequently, taxpayers who are found to owe tax may challenge the validity of the guidance implementing the tax if the procedure used by the Treasury Department in adopting the guidance failed to comply with the Administrative Procedure Act, in particular, with notice-and-comment. This increased willingness to consider tax guidance's procedural defects offers little to most taxpayers unless they are also given a better means to raise procedural challenges. Under current law and in most circumstances, generally, taxpayers can bring a challenge only after they have been found to owe taxes in an …
Privacy In Taxation,
2017
University of Washington School of Law
Privacy In Taxation, Michael Hatfield
Florida State University Law Review
No abstract provided.
Are Recoveries For Losses Taxable? The Commissioner’S Nonacquiescence In Cosentino Muddies The Waters,
2017
Case Western University School of Law
Are Recoveries For Losses Taxable? The Commissioner’S Nonacquiescence In Cosentino Muddies The Waters, Erik M. Jensen
Faculty Publications
After the recent presidential election, Section 1043 of the Internal Revenue Code has received both public visibility and substantial criticism. The section permits certain public officials to defer gain on the sale of assets required to satisfy conflict-of-interest rules, a benefit of sorts characterized by critics as an unwarranted giveaway to the wealthy. This article examines the particulars of Section 1043 and generally defends the way it works. The article also considers whether Section 1043 can be availed of by a President of the United States who divests appreciated assets because of conflict-of-interest concerns, concluding (perhaps surprisingly) that the statutory …
"Gambling, Raffles, Door Prizes, And Competitions" From The Pop Culture Business Handbook For Cons And Festivals,
2017
Nova Southeastern University - Shepard Broad College of Law
"Gambling, Raffles, Door Prizes, And Competitions" From The Pop Culture Business Handbook For Cons And Festivals, Jon Garon
Faculty Scholarship
This article is part of a series of book excerpts from The Pop Culture Business Handbook for Cons and Festivals, which provides the business, strategy, and legal reference guide for fan conventions, film festivals, musical festivals, and cultural events.Games of chance are highly regulated activities, whereas bona fide competitions are generally left unregulated. Both are big businesses. Competitions, drafts, and other events help support the popularity of trading card games. Many nonprofit organizations take advantage of their charitable status to raise funds through various indirect strategies, including raffles, bingo, games of chance, and competitions. For the games of chance, it …
Sales Of Property To Comply With Conflict-Of-Interest Requirements: Section 1043 Assumes New Significance,
2017
Case Western University School of Law
Sales Of Property To Comply With Conflict-Of-Interest Requirements: Section 1043 Assumes New Significance, Erik M. Jensen
Faculty Publications
After the recent presidential election, Section 1043 of the Internal Revenue Code has received both public visibility and substantial criticism. The section permits certain public officials to defer gain on the sale of assets required to satisfy conflict-of-interest rules, a benefit of sorts characterized by critics as an unwarranted giveaway to the wealthy. This article examines the particulars of Section 1043 and generally defends the way it works. The article also considers whether Section 1043 can be availed of by a President of the United States who divests appreciated assets because of conflict-of-interest concerns, concluding (perhaps surprisingly) that the statutory …
In Search Of Smarter Homeowner Subsidies,
2017
Case Western University School of Law
In Search Of Smarter Homeowner Subsidies, Matthew Rossman
Faculty Publications
Critics have long assailed the federal tax code’s principal homeowner subsidies as lucrative tax breaks for upper income households that are essentially worthless to those financially constrained from purchasing a home. This article examines the subsidies through a different lens and reveals another serious flaw. It demonstrates how the homeowner subsidies, which represent a massive federal investment in homeownership, do very little to contain and instead probably increase costs on others that result from certain types of housing choices and that other federal policies seek to remedy. These negative housing externalities include: (i) blight, deterioration, and public health risks in …
(Anti)Poverty Measures Exposed,
2017
University of Nevada, Las Vegas -- William S. Boyd School of Law
(Anti)Poverty Measures Exposed, Francine J. Lipman
Scholarly Works
Few economic indicators have more salience and pervasive financial impact on everyday lives in the United States than poverty measures. Nevertheless, policymakers, researchers, advocates, and legislators generally do not understand the details of poverty measure mechanics. These detailed mechanics shape and reshape poverty measures and the too often uninformed responses and remedies. This Article will build a bridge from personal portraits of families living in poverty to the resource allocations that failed them by exposing the specific detailed mechanics underlying the Census Bureau’s official (OPM) and supplemental poverty measures (SPM). Too often, when we confront the problem of poverty, the …
Latinos And The Internal Revenue Code: A Tax Policy Primer For The New Administration,
2017
UC Hastings College of the Law
Latinos And The Internal Revenue Code: A Tax Policy Primer For The New Administration, Leo P. Martinez
Faculty Scholarship
No abstract provided.
Postpartum Taxation And The Squeezed Out Mom,
2017
University of Washington School of Law
Postpartum Taxation And The Squeezed Out Mom, Shannon Weeks Mccormack
Articles
Faced with too-short (or nonexistent) maternity leaves, inflexible work schedules, and the soaring costs of childcare in the United States, many new mothers temporarily leave the workforce to care for their young children. Although media attention has focused on the “opt-out” mom, many more mothers are squeezed out of the external workplace. But mothers that try to return to work may discover that it is difficult to do so, as employers have been shown to be less likely to hire mothers than others. A mother that does reenter may find that even short periods out of work cost (sometimes far) …
Tax Treatment Of A Marijuana Business,
2017
University of Michigan Law School
Tax Treatment Of A Marijuana Business, Douglas A. Kahn, Howard Bromberg
Articles
Currently, twenty-eight states and the District of Columbia allow the use of marijuana for medical purposes and permit the conduct of a business marketing of marijuana for that purpose. Eight of those states and the District of Columbia permit the recreational use of marijuana. There is reason to believe that more states will decriminalize the marketing of marijuana. However, marijuana is listed in Schedule 1 of the federal Controlled Substances Act of 1970 (CSA) which makes it illegal under federal law to manufacture or distribute marijuana even when it is legal to do so under local state law. In a …
The Fallacious Objections To The Tax Treatment Of Carried Interests,
2017
Florida State University College of Law
The Fallacious Objections To The Tax Treatment Of Carried Interests, Jeffrey H. Kahn, Douglas A. Kahn
Scholarly Publications
No abstract provided.
Heading Off A Cliff? The Tax Reform Man Cometh, And Goeth,
2017
Columbia Law School
Heading Off A Cliff? The Tax Reform Man Cometh, And Goeth, Michael J. Graetz
Faculty Scholarship
The major tax policy challenge of the 21st century is the need to address the nation’s fiscal condition fairly and in a manner conducive to economic growth. But since California adopted Proposition 13 nearly forty years ago, antipathy to taxes has served as the glue that has held the Republican coalition together. Even though our taxes as a percentage of our economy are low by OECD standards and low by our own historical experience, anti-tax attitudes have become even more important for Republicans politically, since they now find it hard to agree on almost anything else. So revenue-positive, or even …
A Consumer Protection Rationale For Regulation Of Tax Return Preparers,
2017
Alexander Blewett III School of Law at the University of Montana
A Consumer Protection Rationale For Regulation Of Tax Return Preparers, Pippa Browde
Faculty Law Review Articles
Of the 150 million tax returns filed each year, approximately fifty-six percent are prepared with the help ofa paid preparer. Although state-licensed lawyers and certified public accountants may prepare tax returns for clients, the vast majority ofpaid tax return preparers are completely unregulated. For low-income taxpayers who are eligible for refundable tax credits, these unregulated tax return preparers do more than just fill out tax returns. Return preparers who serve low-income taxpayers often also market consumer credit products, such as refund anticipation loans or checks. Government agencies and consumer advocates have documented widespread problems with the tax return preparer industry. …
A Diachronic Approach To Bob Jones: Religious Tax Exemptions After Obergefell,
2017
Loyola University Chicago, School of Law
A Diachronic Approach To Bob Jones: Religious Tax Exemptions After Obergefell, Samuel D. Brunson, David Herzig
Faculty Publications & Other Works
In Bob Jones University v. United States, the Supreme Court held that an entity may lose its tax exemption if it violates a fundamental public policy, even where religious beliefs demand that violation. In that case, the Court held that racial discrimination violated fundamental public policy. Could the determination to exclude same-sex individuals from marriage or attending a college also be considered a violation of fundamental public policy? There is uncertainty in the answer. In the recent Obergefell v. Hodges case that legalized same-sex marriage, the Court asserted that LGBT individuals are entitled to “equal dignity in the eyes of …
Let Prophets Be (Non) Profits,
2017
Loyola University Chicago, School of Law
Let Prophets Be (Non) Profits, Samuel D. Brunson, David Herzig
Faculty Publications & Other Works
No abstract provided.
The Expatriation Tax, Deferrals, Mark To Market, The Macomber Conundrum And Doubtful Constitutionality,
2017
Saint Louis University School of Law
The Expatriation Tax, Deferrals, Mark To Market, The Macomber Conundrum And Doubtful Constitutionality, Henry M. Ordower
All Faculty Scholarship
Taxpayers shift income offshore with lawful devices like operating through a foreign corporation. Taxpayers have enhanced the amount of that income lodged outside the U.S. with transfer pricing strategies. Andtaxpayers have evaded U.S. taxation of their worldwide income by secreting assets and income in tax haven, bank secrecy jurisdictions. Statutes, regulations and litigation seek to limit use of offshore opportunities toavoid the U.S. income tax. Penalties for taxpayers and their foreign hosts have been enacted to prevent thehiding of assets offshore. This article reviews many of those techniques and statutory or regulatory responses in the context of examining the 2008 …
Achieving American Retirement Prosperity By Changing Americans' Thinking About Retirement,
2017
University of Colorado Law School
Achieving American Retirement Prosperity By Changing Americans' Thinking About Retirement, Peter H. Huang
Publications
There are many decisions that Americans have to make about retirement before, at, and after retirement. For example, Americans have to decide when to start saving for retirement, how much to save, how to invest those savings, when to retire, when to claim social security, and how to take required minimum distributions from 401(k) plans or Individual Retirement Accounts. Different things can go wrong at each of these decisions for different reasons. Many Americans, for various reasons, including insufficient energy, money, motivation, time, and understanding, do no retirement planning. Some Americans do some retirement planning, yet worry they are doing …
Hollywood Accounting: Profit Participation And The Use Of Mediation As A Mode Of Resolving These Disputes,
2017
Benjamin N. Cardozo School of Law
Hollywood Accounting: Profit Participation And The Use Of Mediation As A Mode Of Resolving These Disputes, Eric Strum
Cardozo Journal of Conflict Resolution
This Note proposes that the entertainment industry employ mediation to resolve profit participation disputes. Section II of this Note focuses on profit participation agreements through their history and their legal context. Section III provides a discussion of the arbitration and litigation of participation claims, as well as their weaknesses. In Section IV, this Note proposes the use of mediation in handling claims in the entertainment industry and a new model of mediation that would best serve profit participation disputes. With the engagement of mediation, profit participation lawsuits can be handled in the most effective and fair way for both the …
Business Income And Business Taxation In The United States Since The 1950s,
2017
Washington University in St. Louis School of Law
Business Income And Business Taxation In The United States Since The 1950s, Conor Clarke, Wojciech Kopczuk
Scholarship@WashULaw
In theory, the U.S. tax system aims to attribute and tax all business income to individuals. But the tax treatment of this income varies. Pass-through income is taxed when earned; capital-gains income is taxed when realized; dividends when distributed; other forms of business income may escape taxation entirely. Business owners often have control over the timing and character of their income: They can often choose, for example, between reporting business income or deducting it as wages or fringe benefits. And laws change, changing the incentive and ability to shift income between the individual and corporate sectors.We integrate a wide variety …
Inequality And The Mortgage Interest Deduction,
2017
Washington University in St. Louis School of Law
Inequality And The Mortgage Interest Deduction, Kyle Rozema, Daniel J. Hemel
Scholarship@WashULaw
The mortgage interest deduction is often criticized for contributing to after-tax income inequality. Yet the effects of the mortgage interest deduction on income inequality are more nuanced than the conventional wisdom would suggest. We show that the mortgage interest deduction causes high-income households (i.e., those in the top 10% and top 1%) to bear a larger share of the total tax burden than they would if the deduction were repealed. We further show that the effect of the mortgage interest deduction on income inequality is highly sensitive to the alternative scenario against which the deduction is evaluated. These findings demonstrate …
