Author: Paul Caron
-
WaPo: Is Bypassing College Smarter Than Paying $200k for an Elite Degree?
Washington Post, Some Say Bypassing a Higher Education Is Smarter Than Paying for a Degree: Across the region and around the country, parents are kissing their college-bound kids — and potentially up to $200,000 in tuition, room and board — goodbye. Especially in the supremely well-educated Washington area, this is expected. It's a rite of
-
Tax Foundation Publishes New Issue of Tax Watch
The Tax Foundation has published the Fall 2010 issue of Tax Watch, with these articles: Costly Countdown: Will the Bush Tax Cuts Expire? Estate Tax May Rise from the Grave Congress Targets Oil Companies for Tax Hikes Dividend Tax Rates May Soar to 68 Percent
-
The Top 70 Law Faculties by Citations in Law Reviews
The University of St. Thomas has posted Scholarly Impact of Law School Faculties: Extending the Leiter Rankings to the Top 70 on SSRN. Here is the abstract: This study explores the scholarly impact of the faculties at all law schools accredited by the ABA and then ranks the Top 70 law faculties. Refined by Professor
-
Over 280,000 Federal Workers Owe $3.3 Billion in Back Taxes
Over 280,000 federal workers and retirees owed more than $3.3 billion in back income taxes in 2009 (up from $3.0 billion in 2008 and $2.7 billion in 2007). The cabinet departments with the largest percentages of employee/retiree tax deadbeats are: Housing & Urban Development: 4.40% Veterans Affairs: 4.04% Education: 3.86% Army: 3.69% Health & Human Services: 3.58% Defense: 3.20% Commerce: 3.15%
-
Sullivan: U.S. Multinationals Cut U.S. Jobs While Expanding Abroad
Martin A. Sullivan (Tax Analysts) has published U.S. Multinationals Cut U.S. Jobs While Expanding Abroad, 128 Tax Notes 1102 (Sept. 13, 2010): It is only natural that U.S. companies have increased hiring overseas during the last decade. After all, the world economy has become increasingly integrated. There are huge overseas markets to be exploited. There
-
Tax Court Denies Prof’s Claimed Deductions for Research
The Tax Court on Thursday denied a CUNY tenured math professor's $15,397 deduction for expenses related to his research and writing activities (including $2,108 for a Sony Vaio notebook computer): Petitioner has, potentially, two trades or businesses. He is employed as a professor of mathematics, and he is engaged in research and writing on mathematical issues. He "wears
-
Quellos CEO, Tax Attorney Plead Guilty in Tax Shelter Case, to Pay $7m to IRS & Give Ethics Lectures at NYU, UW
ABA Journal, Ex-Quellos Tax Attorney Takes Plea, Will Help Pay $7M, Speak at Law School: The former chief executive officer and tax attorney for the Quellos Group LLC hedge fund have accepted a plea agreement that will require them to pay the IRS up to $7M and cover the estimated $400,000 cost of their prosecution
-
TaxProf Blog Weekend Roundup
Saturday: NY Times: Tax Cuts Are Better for Politicians Than for the Economy Quick Facts on Obama's Bonus Depreciation & 100% Expensing Proposals Obama's Business Tax Proposals: Permanent Economic Policy Pivot or Temporary Political Shift? Alabama to Vigorously Assess Use Tax on Online Purchases Zelinsky: Tax Social Security Benefits Sunday: Top 5 Tax Paper Downloads
-
Top 5 Tax Paper Downloads
There is quite a bit of movement in this week's list of the Top 5 Recent Tax Paper Downloads, with a new #1 paper and new papers debuting on the list at #2, #3, #4, and #5: 1. [696 Downloads] Constitutional Decapitation and Health Care, by Steven J. Willis (Florida) & Nakku Chung (J.D. 2010, Florida) 2. [200 Downloads]
-
Labor-Funded Group Accuses Chamber of Commerce of Tax Fraud
New York Times, Chamber of Commerce Accused of Tax Fraud: With a war chest rivaling that of the Republican Party itself, the U.S. Chamber of Commerce has emerged in the last year as perhaps the Obama administration’s most-well-financed rival on signature policy debates like health care and financial regulation. Critics on the left have long
-
Thorndike: Americans Don’t Mind Taxes, They Hate Tax Loopholes
Washington Post op-ed, Americans Don't Mind Taxes — They Hate Tax Loopholes, by Joseph J. Thorndike (Tax Analysts): Oliver Wendell Holmes once observed that "taxes are what we pay for civilized society," and for more than 200 years, Americans have been remarkably willing to pony up. It's not that we hate the financial inconvenience of
-
Obama Opposes Bipartisan Push to Repeal Tax Provision in Health Care Law
New York Times, Many Push for Repeal of Tax Provision in Health Law: Many Democrats have joined Republicans in pushing for the repeal of a tax provision in the new health care law that imposes a huge information-reporting burden on small businesses. To improve compliance, the law requires businesses to file a 1099 tax form
-
Taxing Dirt
Benjamin Miller (Attorney at Law, Hoston) has posted Changing the Way Your Dirt is Taxed: Texas Margin Tax Pitfalls for Real Estate Practitioners on SSRN. Here is the abstract: In 2006, the Texas Legislature passed the first version of its successor to the Texas franchise tax, commonly referred to as the margin tax. Becoming effective
-
NY Times: Tax Cuts Are Better for Politicians Than for the Economy
New York Times, Tax Cuts May Prove Better for Politicians Than for Economy, by David Kocieniewski: With Congressional midterm elections looming, the financial debate in Washington this fall will probably be consumed by one incendiary and expensive issue: whether, and how, to extend the multitrillion-dollar Bush tax cuts. President Obama is advocating a mixed bag
-
Quick Facts on Obama’s Bonus Depreciation & 100% Expensing Proposals
Tax Policy Center, Quick Facts: Bonus Depreciation and 100 Percent Expensing: What is the latest proposal? What is bonus depreciation and how does it work? What types of investment benefit? What types of businesses benefit? How much will it cost? Why does this sound familiar? Is it an effective form of economic stimulus?
-
Obama’s Business Tax Proposals: Permanent Economic Policy Pivot or Temporary Political Shift?
Wall Street Journal op-ed, Obama Discovers Incentives, by Kevin A. Hassett (American Enterprise Institute) & Glenn Hubbard (Dean, Columbia Business School): Earlier this week President Obama proposed tax cuts for business, including 100% expensing through 2011. In other words, firms that purchase new machines and other capital goods would be able to write them off immediately,
-
Alabama to Vigorously Assess Use Tax on Online Purchases
Alabama Live, Alabama Sending Tax Notices to Some Consumers for Online, Out-of-State Purchases: The Alabama Department of Revenue is sending letters to a number of residents in an effort to collect unpaid consumer use tax from 2006 through 2008. Set at 4% percent, the state's consumers use tax applies to items subject to sales tax
-
Zelinsky: Tax Social Security Benefits
Edward A. Zelinsky (Cardozo), Advice to President Obama’s Deficit Commission: Tax Social Security Payments: President Obama’s National Commission on Fiscal Responsibility and Reform is reportedly forging an internal consensus concerning the federal Social Security system. The President’s bi-partisan deficit reduction commission is purportedly developing a package of reforms including higher retirement ages for Social Security
-
Tax Panel, Papers at National People of Color Legal Scholarship Conference
Here are the tax panel and paper presentations at the Third National People of Color Legal Scholarship Conference on Our Country, Our World in a "Post-Racial" Era at Seton Hall: Panel: Tax Policy in a “Post-Racial” Era. Dorothy A. Brown (Emory), Bobby Dexter (Chapman), Randle Pollard (Widener), Phyllis Smith (Florida A&M) (moderator) & Shu-Yi Oei (Tulane) Paper: Anthony Infanti
-
Tax Papers by Austan Goolsbee
Tax papers by Austan Goolsbee, named today as President Obama's new Chair of the Council of Economic Advisers: Does Government R&D Policy Mainly Benefit Scientists and Engineers Evaluating the Costs and Benefits of Taxing Internet Commerce Evidence on the High Income Laffer Curve from Six Decades of Tax Reform How Prevalent is Tax Arbitrage? Evidence
-
39% of Revenue From Expiration of Bush Tax Cuts Would Come From Business Income
The Tax Foundation today released Over One-Third of New Tax Revenue Would Come from Business Income If High-Income Personal Tax Cuts Expire: Advocates of allowing the top two federal income tax rates to expire claim that only 2 or 3 percent of businesses would be affected, but a new Tax Foundation report shows that more
-
2007 Fordham Law Grad Goes From $160k BigLaw Job to Cleaning Toilets
ABA Journal, Laid Off From BigLaw, Lawyer Posts Fliers Seeking Cleaning Work Above the Law, This Week’s Sign That Lawpocalypse is Upon Us DealBreaker, Layoffs Watch ‘10-’11: Capitalize On The Millions Of People Who’ve Always Wanted To See A Wall Streeter Scrub A Toilet Law Shucks, Lawyer-Turned-Housekeeper Has BigLaw Background New York Daily News, Jobless
-
Brody: All Charities are Property-Tax Exempt, But Some are More Exempt than Others
Evelyn Brody (Chicago-Kent) has published All Charities are Property-Tax Exempt, But Some are More Exempt than Others, 44 New Eng. L. Rev. 621 (2010). Here is the abstract: Attention from the media notwithstanding, the nonprofit sector continues to achieve remarkable success in state supreme courts and statehouses in defending property-tax exemptions. But budget pressures remain.
-
Gerzog: The Price of an FLP Annual Exclusion
Wendy C. Gerzog (Baltimore) has published The Price of an FLP Annual Exclusion, 128 Tax Notes 1071 (Sept. 6, 2010). Here is the abstract: In Price [v. Commissioner, T.C. Memo. 2010-2], the Tax Court explored once again whether gifts of interests in a family limited partnership qualify for the annual exclusion. All Tax Analysts content is available through
-
CRS Report on Tax Extenders
BNA has made available yesterday's Congressional Research Service report, Certain Temporary Tax Provisions Scheduled to Expire in 2009 (“Extenders”) (RL32367), by James M. Bickley. Here is the Summary: Numerous temporary tax provisions expired on December 31, 2009. Often referred to as “extenders,” these provisions were originally enacted with expiration dates that have subsequently been extended, in some