Paul L. Caron
Dean
Pepperdine Caruso
School of Law
2013
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ABA Tax Section Awards Two Public Service Tax Fellowships
The ABA Tax Section today announced the winners of its two Public Service Tax Fellowships for 2013-2015: Susanna Birdsong, scheduled to earn her J.D. from the American University College of Law in May 2013, will be working as policy counsel with the National Women’s Law Center in Washington, D.C. She will focus on tax credits available…
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IRS Tries to Slow Walk Whistleblower Payouts
Fortune: Incentives for Tax Fraud Tipsters May Get Even Tinier, by Lynnley Browning: The IRS wants to shrink payments to tax fraud whistleblowers, even though it's only rewarded three people under the program since 2006. Hoping to win millions of dollars from the IRS for exposing tax fraud? It's going to get even tougher —…
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Leff: Medical Marijuana Providers Can Beat Oppressive Federal Taxes by Operating as Non-Profits
Following up on last week's post, Medical Marijuana Providers Face 75% Federal Tax Rate: Slate: Growing the Business: How Legal Marijuana Sellers Can Beat a Draconian Tax, by Benjamin M. Leff (American): Eighteen states and the District of Columbia have now decriminalized or legalized marijuana for at least some purposes. You hear a lot about…
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IRS Releases 2012 Taxpayer Attitude Survey
The IRS Oversight Board has released the results of its 2012 Taxpayer Attitude Survey of 1,500 respondents: 95% indicated that personal integrity has the greatest influence on whether they honestly report and pay their taxes, but the influence of IRS audits and third-party information reporting appears to be growing. 93% said it is important that…
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Michigan Unveils Online ‘Debt Wizard’ for Prospective Students
The University of Michigan Law School has unveiled an online Debt Wizard to help prospective students: Our Debt Wizard is a calculator that provides a simple means to explore your ability to service your prospective law school debt under various repayment options in multiple locales. The model has just a few variables: type of post-grad employment…
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TPC Hosts Program Today on State Tax Reform, the ACA, and Sequestration
The Tax Policy Center hosts a program today on States in Flux: State Tax Reform, the ACA, and Sequestration at noon-1:30 p.m. EST (webcast here): State governments face extraordinary challenges in coming years. Tepid recovery from the Great Recession has limited the ability of state governments to expand and add jobs, unlike past recoveries. Concerned…
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TaxProf Blog Weekend Roundup
Saturday: Florida State Hosts Symposium Today on One-Hundred Years of the Federal Income Tax Ex-Jenkens & Gilchrist Partner Gets 8 Years in Tax Shelter Case Davidoff: Beware the Unintended Consequences of a Financial Transactions Tax House Creates Email Address for Tax Reform Sunday: Estate Planning Lessons From 'Downton Abbey' The Shrinking Law Faculty Lateral Market…
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Estate Planning Lessons From ‘Downton Abbey’
Wall Street Journal: Money Lessons From 'Downton Abbey': If you need your wife's dowry to prop up your sprawling manse and a small army of domestic staff, don't bet it all on a railroad thousands of miles away. That is one of the lessons gleaned from the television show Downton Abbey, the British drama set…
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The Shrinking Law Faculty Lateral Market
Lawrence Cunningham (George Washington) reports on the decline in the number of law faculty lateral moves this year: Year Schools Faculty 2006 71 132 2007 72 131 2008 80 136 2009 68 114 2010 72 92 2011 55 93 2012 56 84 2013 21 28 As Larry notes, the 2013 figures are preliminary and although…
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Top 5 Tax Paper Downloads
The papers in this week's list of the Top 5 Recent Tax Paper Downloads on SSRN is the same as last week, with some reshuffling of the order within the Top 5: 1. [441 Downloads] Why Tax Revenues Must Rise, by Edward D. Kleinbard (USC) 2. [283 Downloads] Federal Tax Crimes, by John A. Townsend (Houston) 3. [270 Downloads] Occupy the…
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Ernst & Young Pays $123 Million to Avoid Tax Shelter Prosecution
Press Release, Manhattan U.S. Attorney Announces Agreement With Ernst & Young LLP to Pay $123 Million To Resolve Federal Tax Shelter Fraud Investigation: Preet Bharara, the United States Attorney for the Southern District of New York, Steven Miller, the Acting Commissioner of the Internal Revenue Service (“IRS), and Tamara Ashford, the Deputy Assistant Attorney General…
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Florida State Hosts Symposium Today on One-Hundred Years of the Federal Income Tax
Florida State's two-day symposium on One-Hundred Years of the Federal Income Tax concludes today with these speakers: David Gamage (UC-Berkeley), More on Tax Salience: Operative Mechanisms and Limiting Factors: "Will discuss possible operative mechanisms underlying observed results related to tax salience and factors that might limit the relevance of these results for tax policy design.…
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Ex-Jenkens & Gilchrist Partner Gets 8 Years in Tax Shelter Case
Bloomberg: Ex-Jenkens & Gilchrist Lawyer Gets 8 Years in Tax Case: Donna Guerin, a former partner in the defunct law firm Jenkens & Gilchrist, was sentenced to eight years in prison and ordered to pay $190 million for her role in what the U.S. called the largest criminal tax fraud in history. Guerin, 52, pleaded…
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Davidoff: Beware the Unintended Consequences of a Financial Transactions Tax
New York Times DealBook: In Wall St. Tax, a Simple Idea but Unintended Consequences, by Steven M. Davidoff (Ohio State): Some say that a financial transaction tax is a cost-free way to kill many a bird with one stone — raising revenue, preventing financial crashes and making markets safer. But advocates of this neat idea conveniently…
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House Creates Email Address for Tax Reform
The House Ways & Means Committee yesterday announced a new email address, tax.reform@mail.house.gov as another way for stakeholders, advocacy groups and the public to share information, facts and data relevant to the Committee’s review of current federal income tax law within the Committee’s 11 Tax Reform Working Groups: The working groups, announced earlier this month…
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Diamond Presents The Case for a Progressive Tax at NYU
Peter Diamond (MIT, Department of Economics) presented The Case for a Progressive Tax: From Basic Research to Policy Recommendations at NYU yesterday 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): This paper presents the case for tax progressivity based…
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Cincinnati Law Faculty Provide CLE for Student Scholarships
Yet another reason why I love the University of Cincinnati College of Law and my colleagues: the law school faculty today is holding a "Teach-In", offering 12 CLE programs for lawyers with all proceeds going toward student scholarships (were I not in Malibu, there would have been 13): Marjorie Aaron: Client Science: Toward Loyal Clients Who Trust…
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Brody Presents Corporate Change in Charitable Purpose at Brooklyn
Evelyn Brody (Chicago-Kent) presented Corporate Change in Charitable Purpose: Who Decides? at Brooklyn last week as part of its Faculty Workshop Series: The American Law Institute is developing Principles of the Law of Charitable Organizations, for which I serve as Reporter. This workshop addresses a key question that remains unaddressed in nonprofit corporate law: How…
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Sanchirico: Do Capital Income Taxes Hinder Growth?
Chris William Sanchirico (Pennsylvania), Do Capital Income Taxes Hinder Growth?: One of the main arguments against raising capital income tax rates is that doing so discourages savings and investment and hinders economic growth. However, academic research on taxes and growth suggests that this argument has no real basis. And the primary alternatives to capital income…
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More on the End of Paul Campos’s Inside the Law School Scam Blog
Following up on Wednesday's post, Paul Campos Ends Inside the Law School Scam Blog: Paul Horwitz (Alabama), The Law School Crisis Continues; ITLSS Does Not Brian Leiter (Chicago), Paul Campos's Final Bit of Revisionist History Elie Mystal (Above the Law), Farewell To Inside The Law School Scam Jennifer Smith (Wall Street Journal), Law Blog Fireside…
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Florida State Hosts Symposium Today on One-Hundred Years of the Federal Income Tax
Florida State hosts a two-day symposium on One-Hundred Years of the Federal Income Tax: 2013 is the centennial of the modern U.S. income tax. Florida State will host a distinguished array of experts who will offer perspectives on what we have learned in 100 years and where we should go in the future. Today’s speakers:…
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Dow Chemical Loses $1 Billion Tax Shelter Case
Chemtech Royalty Associates v. United States, No. 05-cv- 00944 (M.D. LA Feb. 26, 2013): The resolution of this case turns, in large part, on this Court's application of judicial doctrines that have been developed by the courts for more than three-quarters of a century. For the reasons which follow, the Court finds that the Chemtech…
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The Impact of Sequestration on the IRS
Bloomberg-BNA, IRS Memorandum National Treasury Employees Union Press Release, IRS Employees Told of Potential Furloughs of 5 to 7 Days Accounting Today, IRS Employees May Face 5- to 7-Day Furloughs from Sequester Bloomberg, Prisoners Join Astronauts in U.S. Spending-Cut Fallout Chicago Tribune, Federal Sequestration Could Affect Speed of Tax Refunds Forbes, IRS Won't Delay Tax…
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Conference Today on Tax Policies for Multijurisdictional Income
The California State Bar Association Tax Section, San Jose State University College of Business, and Tax Executives Institute host a Tax Policy Conference today on Tax Policies for Multijurisdictional Income. Among the speakers is Susan C. Morse (UC-Hastings). For the full program, see here.
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Mann Presents Economists are from Mars, Lawyers are from Venus Today at UCLA
Roberta F. Mann (Oregon) presents Economists are from Mars, Lawyers are from Venus: The Tax Policy Implications of Communication Failure at UCLA today as part of its Tax Policy and Public Finance Colloquium hosted by Jason Oh and Kirk Stark: This article will first explore the development of the relationship between lawyers and economists by…