Paul L. Caron
Dean
Pepperdine Caruso
School of Law
2013
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Tamanaha: The Law Graduate Debt Disaster Goes Critical
In The Law Graduate Debt Disaster Goes Critical, Brian Tamanaha (Washington U.) lists the 20 law schools with average student loan indebtedness of $140,000 or more (and the percentage of graduates with "J.D. required" jobs). 17 of the 20 schools are in California (6), New York (4), Washington, D.C. (3), Chicago (2), and Florida (2):…
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Todres: Tax Malpractice Damages in New York
Jacob L. Todres (St. John's), New York’s Law of Tax Malpractice Damages: Balanced or Biased?, 86 St. John's L. Rev. 143 (2012): In this article Professor Todres focuses on two common elements of damages often incurred by plaintiffs who are the victims of negligently rendered incorrect tax advice – additional, avoidable taxes, and interest on…
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Jensen: An Imaginary Faculty Meeting, at an Imaginary Law School
Erik M. Jensen (Case Western), Planning for the Next Century or the Next Week, Whichever Comes First, 117 Penn St. L. Rev. Penn Statim 7 (2012): This is a story about an imaginary faculty meeting at an imaginary law school. The imaginary faculty discusses imaginary strategic planning mandated by an imaginary university president.
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WSJ: Shakeout Hits Law Schools
Wall Street Journal: Shakeout Hits Law Schools, by Ashby Jones: Northwestern University School of Law, one of the country’s top law schools, said it will reduce the size of its incoming class by about 10%, citing declining applications and a “shakeout” in the market for legal jobs. … [T]he move by Northwestern’s law school, based…
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Dharmapala Presents Competitive Neutrality Among Debt-Financed Multi-national Firms Today at NYU
Dhammika Dharmapala (Illinois), Competitive Neutrality Among Debt-Financed Multi-national Firms (with Mihir A. Desai (Harvard)) 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): Debt plays an important role in the financing of multinational corporations (MNCs). Interest expenses…
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Florida, Georgetown Win 2012 ABA Law Student Tax Challenge
The ABA Tax Section has released the list of winners of the 2012 Law Student Tax Challenge: J.D. Division: 1st Place: Florida — Stephanie Malen & Paul D'Alessandro 2nd Place: William & Mary — Kandyce Korotky & Kate Ward 3rd Place: Florida — KaLynn Ryker & Sara Heuer Best Written Submission: Harvard — Tyson Willis…
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House Releases Small Business Tax Reform Options
House Ways & Means Committee Chair Dave Camp today released a third tax reform discussion draft focused on small business: The discussion draft contains several core components that simplify tax compliance for small businesses and provide certainty with respect to the ability of small businesses to recover certain costs immediately. These include widely supported reforms…
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CRS: 250 Tax Expenditures
Congressional Research Service, Tax Expenditures: Compendium of Background Material on Individual Provisions, S. Rep. No. 45, 112th Cong., 2d Sess. (1065 pages): This compendium gathers basic information concerning approximately 250 federal tax provisions currently treated as tax expenditures. They include those listed in Tax Expenditure Budgets prepared for fiscal years 2011-2015 by the Joint Committee…
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Billy Joel at Vanderbilt University
Gawker, Billy Joel Stuns Vanderbilt with Once-In-A-Lifetime Answer to Student’s Question Rolling Stone, Billy Joel Plays ‘New York State of Mind’ With College Freshman (Hat Tip: Victoria Haneman.)
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2014 U.S. News Peer Reputation Rankings (v. Overall Rankings)
Continuing a TaxProf Blog tradition (see links below for 2009-2013), here is the full list of the 194 law schools ranked by academic peer reputation, as well as their overall rank, in the new 2014 U.S. News Law School Rankings (methodology here): Peer Rank Peer Score School Overall Rank 1 4.8 Yale 1 1 4.8 Harvard 2…
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Corporate Profits and Offshore Cash Hoards Surge as Taxes Shrink
Following up on Friday's post, Offshore Cash Hoard Expands by $183 Billion at Companies: Wall Street Journal, More U.S. Profits Parked Abroad, Saving on Taxes: U.S. companies are making record profits. And more of the money is staying offshore, and lightly taxed. A Wall Street Journal analysis of 60 big U.S. companies found that, together,…
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IRS: California Fire Prevention Fees Are Not Deductible Property Taxes Under § 164
Office of Chief Counsel, IRS Memorandum 2013-10-029 (Jan. 14, 2013) (released Mar. 8, 2013): Issue: May California residents deduct the Fire Prevention Fee they may pay on their federal income tax returns as a real property tax deduction under section 164 of the Internal Revenue Code and § 1.164-4 of the Income Tax Regulations? Conclusion: …
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American Prospect: Five Lessons for Progressives From 100 Years of the Income Tax
The American Prospect: Five Lessons for Progressives From Our First Century of Income Taxes: Steeply graduated income tax rates can help societies do big things Progressive tax rates can do much more than raise significant amounts of revenue Progressive income tax rates don’t just happen. People have to battle for them Tax loopholes cost our…
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Faculty in 2012-13 Received Biggest Pay Raise in Four Years
Inside Higher Ed, Minimal Gains in Faculty Pay: Median salaries for tenure-track faculty members at four-year colleges and universities were up 2.1% in 2012 — matching the rate of inflation for the year, according to a study being released today by the College and University Professional Association for Human Resources. Year Public Private 2009-10 0.0%…
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Vic and Miranda Fleischer Leave Colorado for San Diego
Tax Prof "power couple" Victor Fleischer and Miranda Perry Fleischer are leaving Colorado for San Diego where they will be tenured professors of law. Their recent publications include: The Supercharged IPO Equality of Opportunity and the Charitable Tax Subsidies, 91 B.U. L. Rev. 601 (2011) Taxing Founders’ Stock, 59 UCLA L. Rev. 60 (2011) Regulatory…
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More Legal Education and Law Practice News
American Lawyer, The Future of Law as Seen From Silicon Valley Chicago Tribune, Northwestern Law to Cut Class Sizes, Hold Tuition in Check: Chronicle of Higher Education, Pop Goes the Law The Legal Whiteboard, Thoughts on the Future of Law from ReInvent Law – Silicon Valley Time, Just How Bad Off Are Law School Graduates?…
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Blank Presents Collateral Compliance Today at Florida
Joshua D. Blank (NYU) presents Collateral Compliance, 162 U. Pa. L. Rev. ___ (2013), at Florida today as part of its Tax Policy Workshop Series hosted by Yariv Brauner and Omri Marian: As most of us are aware, the failure to comply with the tax law can lead to civil and criminal tax penalties. But…
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Lippe: Why Waste the Crisis in Legal Education? LawSchool.Next
ABA Journal Legal Rebels: Why Waste the Crisis in Legal Education?, by Paul Lippe (Founder and CEO, Legal OnRamp, a Silicon Valley-based initiative to improve legal quality and efficiency through collaboration, automation and process re-engineering): I had the chance last month to speak to the ABA’s meeting of law school deans. The meeting was off…
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John Paulson May Join Exodus to Puerto Rico for 0% Capital Gains Tax Rate
Bloomberg: Paulson Said to Explore Puerto Rico as Home With Low Tax: John Paulson, a lifelong New Yorker, is exploring a move to Puerto Rico, where a new law would eliminate taxes on gains from the $9.5 billion he has invested in his own hedge funds, according to four people who have spoken to him…
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Coalition of 67 Law Profs and Deans Pushes for Legal Education Reform
I am one of the 67 law professors and deans who, as members of the "Coalition of Concerned Colleagues" assembled by Paul Carrington, Stephen Gillers, Deborah Rhode, and others, sent the following letter to the ABA: The recent chorus of complaints about the “crisis” in legal education has brought new urgency to longstanding concerns. Law…
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Tax Profs Remember Christine Brunswick
Tax Notes has reprinted our tribute in Tax Professors Remember Christine Ann Brunswick, 138 Tax Notes 1267 (Mar. 11, 2013): Paul L. Caron … shares the tributes posted by tax professors remembering Christine Ann Brunswick, former director of the American Bar Association Section of Taxation, who died last month: Alice Abreu (Temple) Ellen Aprill (Loyola-L.A.) Paul…
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In the South and West, a Tax on Being Poor
Katherine S. Newman (Dean, School of Arts & Sciences, Johns Hopkins University) & Rourke O’Brien (Ph.D Student, Princeton University), Taxing the Poor Doing Damage to the Truly Disadvantaged (University of California Press, 2011): This book looks at the way we tax the poor in the United States, particularly in the American South, where poor families…
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District Judge Dismisses Conservative Faculty Candidate’s Motion for New Trial in Bias Suit Against Iowa Law School
Following up on my previous posts (links below) about Teresa Wagner's federal lawsuit claiming she was denied a faculty position because of her conservative views: Des Moines Register: No New Trial for Conservative U of I Worker: A conservative Republican who sued the University of Iowa, saying the school denied her promotion multiple times because…
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TaxProf Blog Weekend Roundup
Saturday: Minnesota Department of Revenue Warns Taxpayers: Don't Use TurboTax NLJ: Two Law Schools Offer Money-Back Guarantee to Students 312,000 Federal Workers Owe $3.5 Billion in Back Taxes, Up 11.5% From Prior Year Infanti Presents LGBT Families, Tax Nothings at Iowa Sunday: Cassidy: Strategic Austerity May Save Law Schools and Improve Learning Outcomes Top 5…
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Cassidy: Strategic Austerity May Save Law Schools and Improve Learning Outcomes
R. Michael Cassidy (Boston College), Strategic Austerity: How Some Law School Affordability Initiatives Could Actually Improve Learning Outcomes, 16 Chapman L. Rev. ___ (2013) (Symposium on The Future of Law, Business, and Legal Education: How to Prepare Students to Meet Corporate Needs): Legal educators are now engaged in some very difficult and painful conversations about…