Paul L. Caron
Dean
Pepperdine Caruso
School of Law
2013
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Taylor Presents Payroll Taxes Today at San Diego
Willard Taylor (Sullivan & Cromwell, New York) presents Payroll Taxes — Why Should We Care? What Should Be Done?, 137 Tax Notes 983 (Nov. 26, 2012), at San Diego today as part of its Tax Law Speaker Series: Federal employment and self-employment taxes are critical for several reasons, including their significant contribution to federal revenues…
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WSJ: American Companies Keep Stockpiles of ‘Foreign’ Cash in U.S.
Wall Street Journal: Firms Keep Stockpiles of 'Foreign' Cash in U.S.: There's a funny thing about the estimated $1.7 trillion that American companies say they have indefinitely invested overseas: A lot of it is actually sitting right here at home. Some companies, including Internet giant Google, software maker Microsoft and data-storage specialist EMC keep more…
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NY Times: It Is Time to Raise Taxes on Everybody — Including the Middle Class
New York Yimes: A Tax Bite Tailored to Help All, by Eduardo Porter: What would happen if the government raised everybody’s taxes? … To make ends meet, both parties agree, spending must be drastically cut. Under the White House budget proposal, discretionary spending on everything except the military is projected to shrink to its smallest…
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Texas Heirs Bring Estate Planning Malpractice Action
Texas Lawyer: Oilman's Family Sues Lawyers, Firms, Accountants: The beneficiaries of a multimillion-dollar trust have sued an estate-planning attorney, his firm and an accounting firm, alleging professional malpractice related to a tax plan that led to litigation with the IRS. But in an unusual twist, the beneficiaries also sued the firm and lawyers to whom…
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Halperin to be Installed Today as Martin Ginsburg Visiting Professor of Taxation at Georgetown
Daniel Halperin, Stanley S. Surrey Professor of Law at Harvard, is being installed today as the Martin D. Ginsburg Visiting Professor of Taxation at Georgetown: “The selection of Dan Halperin seems especially fitting. A former member of the Georgetown Law faculty, Dan knew Marty Ginsburg well, and he is one of the country’s leading authorities…
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Golfer Phil Mickelson Takes a Tax Mulligan
Following up on Monday’s post, Golfer Phil Mickelson Plans ‘Drastic Changes’ in Response to His 63% Marginal Tax Rate: Wall Street Journal editorial, The Mickelson Vote: Lefty Offends the Lefties: California golfer Phil “Lefty” Mickelson says he will no longer publicly criticize the government for taking most of his paycheck. That’s a shame. But even…
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Yahoo, Dell Swell Netherlands’ $13 Trillion Tax Haven
Bloomberg: Yahoo, Dell Swell Netherlands’ $13 Trillion Tax Haven, by Jesse Drucker: Inside Reindert Dooves’ home, a 17th century, three-story converted warehouse along the Zaan canal in suburban Amsterdam, a 21st-century Internet giant is avoiding taxes. The bookkeeper’s home office doubles as the headquarters for a Yahoo! offshore unit. Through this sun-filled, white walled room,…
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Brewer: Seven Ways to Strengthen and Improve the L3C
Cass Brewer (Georgia State), Seven Ways to Strengthen and Improve the L3C, 24 Regent U. L. Rev. ___ (2013): The raison d’être for the low-profit limited liability company (“L3C”) is to encourage program-related investments (“PRIs”) by private foundations. PRIs are special types of investments that can be both charitable and profitable. PRIs have been embraced…
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Federal Tax Credits/Deductions and College Choice Decisions
Tatyana Guzman (Indiana University, School of Public and Environmental Affairs), To Choose or Not to Choose: Federal Income Tax Credits and Deductions and College Choice Decisions: Education-related tax preferences studied in this paper (Hope credit, Lifetime Learning credit, and tuition and fees deduction) are a form of federal aid available for qualifying students who are…
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Kleinbard Presents Why Tax Revenues Must Rise at Today’s NYSBA Tax Section Annual Meeting
Edward D. Kleinbard (USC) presents Why Tax Revenues Must Rise as the luncheon speaker at today's New York State Bar Association Tax Section Annual Meeting: This PowerPoint presentation reviews the fiscal picture of the United States in light of the resolution of the "fiscal cliff" controversy. The presentation argues that, while long-term trends in mandatory spending…
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Kamin Presents A Path to Close America’s Long-Run Deficit Today at NYU
David Kamin (NYU) presents Are We There Yet?: On a Path to Closing America's Long-Run Deficit, 137 Tax Notes 53 (Oct. 1, 2012) at NYU today as part of its Colloquium Series on Tax Policy and Public Finance convened by Daniel Shaviro (NYU) and William Gale (Tax Policy Center; visiting at NYU): Many decry the fact that…
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IRS Suspends Regulation of Tax Return Preparers After Friday’s Court Defeat
Following up on my post, Court Says IRS Lacks Authority to Regulate Tax Preparers: IRS Statement on Court Ruling Related to Return Preparers: As of Friday, Jan. 18, 2013, the U.S. District Court for the District of Columbia has enjoined the IRS from enforcing the regulatory requirements for registered tax return preparers. In accordance with…
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‘Modest Uptick’ in Legal Jobs is 2012
American Lawyer: Job Growth In Legal Services Lagged Behind National Rate In 2012: The preliminary jobs numbers for 2012 are in, and while last year's herky-jerky hiring in the legal sector resulted in a net increase of 7,800 jobs for the year—or 0.7% more than in 2011—the legal industry nonetheless grew at just half the…
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Think Tank Rankings
Center for Global Development, Cato Tops New CGD Index of Think Tank Profile: Profile per Dollar Spent for Major U.S. Think Tanks (5 = average) (Hat Tip: Volokh Conspiracy.)
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Pepperdine/Tax Analysts Symposium Wrap-Up: Tax Advice for the Second Obama Administration
Thanks to everyone who participated in Friday's Pepperdine/Tax Analysts Symposium on Tax Advice for the Second Obama Administration. By any measure, it was spectacular success. We smashed attendance records, as Pepperdine had to open two overflow rooms to handle the crowds. Over 600 people have watched the video of the event: Each and every one…
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NY Times: With Tax Advantages Looking Shaky, Private Equity Seeks a New Path
New York Times DealBook: With Tax Advantages Looking Shaky, Private Equity Seeks a New Path: As Washington grapples with the country’s fiscal woes, the private equity industry is grudgingly facing a new reality: its long-held tax advantages are likely to disappear. For years, private equity has quashed efforts to raise taxes on so-called carried interest…
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Where Have All the Student Tax Notes and Comments Gone?
Andrew Yaphe (J.D. 2010, Stanford), Taking Note of Notes: Student Legal Scholarship in Theory and Practice, 62 J. Legal Educ. 259 (2012): In recent decades, an inconclusive (even by the standards of academia!) debate has intermittently flared up within the legal academy, as professors, judges, and practitioners have gone back and forth as to what…
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WaPo: Higher Tax Rates on Top Earners Will Pinch Married Couples Faster Than Individuals
Washington Post: Higher Tax Rates on Top Earners Will Pinch Married Couples Faster Than Individuals: It pays to be single — that is, when it comes to high earners’ tax bills. U.S. taxpayers with income of more than $200,000 a year will see federal tax rates rise this year on wages and investments. Tax increases…
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TaxProf Blog Holiday Weekend Roundup
Saturday: WSJ: Can You Trust Your Kid With $5.25 Million? Plummeting Law School Enrollments Portend Widespread Faculty Layoffs Court Says IRS Lacks Authority to Regulate Tax Preparers Deans Oppose Canada's First Christian Law School Sunday: WSJ: Corporate Inversions Yield Big Shareholder Tax Bills NY Times: Is Technological Inequality Exacerbating Income Inequality? Congress Extends 100k Deduction…
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Martin Luther King Jr. and Tax
In honor of Martin Luther King, Jr. Day: reports on how some southern officials tried to use state tax laws to stop King and the nascent civil rights movement: “In Alabama, … Governor John Patterson in early 1960 directed state revenue authorities to charge Martin Luther King, Jr., with tax evasion and perjury in completing…
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Golfer Phil Mickelson Plans ‘Drastic Changes’ in Response to His 63% Marginal Tax Rate
Sports Illustrated: Mickelson Plans 'Drastic Changes' in Response to Tax Hikes: Phil Mickelson said he will be making "drastic changes" because of recent tax increases, including California's new, highest-in-the-nation income tax on the wealthy, and he suggested that the tax was one of the reasons he withdrew from the investment group that purchased the San…
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Dell Is ‘Hoisted on its Own Tax Petard’ in Proposed LBO
Bloomberg: Dell Leveraged Buyout May Hinge on Cash Hoard Outside U.S., by Zachary R. Mider & Jesse Drucker: Michael Dell’s plan to take his computer company Dell Inc. private may hinge in part on whether he’s able to exploit one of the company’s most valuable assets: as much as $14.2 billion of cash and bonds…
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Henderson: A Blueprint for Law School Change: The 12% Faculty Solution
William D. Henderson (Indiana), A Blueprint for Change, 40 Pepp. L. Rev. 461 (2013): This Article discusses the financial viability of law schools in the face of massive structural changes now occurring within the legal industry. It then offers a blueprint for change – a realistic way for law schools to retool themselves in an…
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WSJ: Corporate Inversions Yield Big Shareholder Tax Bills
Wall Street Journal: How to Owe Capital-Gains Taxes Without Even Trying: The byzantine U.S. tax code doesn't merely defy logic and comprehension. It also keeps producing ways to trip up investors. … In "corporate inversions," … a U.S. company creates a new parent incorporated in a foreign country. The old shares in the U.S.-based company…
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NY Times: Is Technological Inequality Exacerbating Income Inequality?
New York Times: The Smartphone Have-Nots: Earlier this month, Larry Mishel, the president of the Economic Policy Institute, stood at a lectern in a small hotel conference room in San Diego and fiddled with a computer until his PowerPoint presentation flashed on the screen. Mishel then composed himself, paid tribute to his intellectual opponent sitting…