Author: Paul Caron
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Call for Papers: The Federalization of Nonprofit and Charity Law
The AALS Section on Nonprofit & Philanthropy Law has issued a Call for Papers on The Federalization of Nonprofit and Charity Law to be presented at the 2011 AALS Annual Meeting in San Francisco on January 4-8, 2011: Except with respect to eligibility for exemption from the federal income tax, nonprofit and charity law developments have
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New Issue of Journal of Legal Education
Articles of interest in Vol. 59, No. 3, Journal of Legal Education (Feb. 2010): David Chang, Joanne M. Ingham & Donald H. Zeigler (all of New York Law School), Curriculum Design and Bar Passage: New York Law School's Experience, 59 J. Legal Educ. 393 (2010) Lucinda Jesson (Hamline), So You Want to be a Law Professor, 59 J.
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Sarah Lawsky Leaves GW for UC-Irvine
Sarah Lawsky (George Washington; visiting at Virginia) has accepted a position at the new law school at UC-Irvine. From Sarah's GW website: Professor Lawsky joined the GW Law School faculty in 2007. She teaches and writes in the area of taxation. Before entering academia, she worked at the law firm of Hogan & Hartson LLP,
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Johnson: The Story of Bob Jones University
Olatunde C. Johnson (Columbia) has posted The Story of Bob Jones University v. United States: Race, Religion, and Congress’ Extraordinary Acquiescence, in Statutory Interpretation Stories (William Eskridge & Elizabeth Garrett, eds.) (Foundation Press, 2010), on SSRN. Here is the abstract: On May 25, 1983, the Supreme Court ruled 8-1 that the IRS had authority to
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Bloomberg: New Health Care Taxes Help Obama ‘Spread the Wealth Around’
Bloomberg, New Taxes for Health Care Help Obama ‘Spread the Wealth Around’, by Ryan J. Donmoyer: President Barack Obama said on the campaign trail in October 2008 that he wanted to “spread the wealth around.” With Obama on the verge of signing sweeping health-care overhaul legislation, he’s about to do just that. High-income investors would
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Joint Tax Committee Releases The 2010 and 2011 Tax Law
The Joint Committee on Taxation today released Present Law and Background Data Related to the Federal Tax System in Effect for 2010 And 2011 (JCX-19-10), in advance of tomorrow's House Ways & Means Committee hearing on Taxes and the Budget: The current Federal tax system has four main elements: (1) an income tax on individuals and
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Joe Biden’s Tax Tips
Visit msnbc.com for breaking news, world news, and news about the economy ABC News The Hill Huffington Post USA Today Wall Street Journal
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8 Audit Red Flags
CBS Money Watch, Audit Red Flags: 8 Things Not to Do: No matter how fastidiously you file your receipts or how professionally your accountant fills out the forms, you probably still fear an IRS audit. And thanks to a flurry of tax changes this year, there are more audit red flags than usual. In fact,
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Bartlett: Tea Party Has a Low Tax IQ
Bruce Bartlett (Forbes), The Misinformed Tea Party Movement: For an Antitax Group, They Don't Know Much About Taxes: On March 16 the Tea Party crowd showed up for yet another demonstration on Capitol Hill in Washington. Curious about the factual knowledge these people have regarding the issues they are protesting, my friend David Frum enlisted some interns
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Tax Stories in Paradise
I am thrilled to be spending Cincinnati's spring break in Mailbu, California, teaching a one-week course based on our Tax Stories book, Selected Advanced Topics in Federal Income Taxation, at Pepperdine University School of Law. I have long been a fan of Pepperdine, its faculty, and its distinctive mission in American legal education, particularly the integration
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Joint Tax Committee on the House Health Care Bill
The Joint Committee on Taxation released two documents on the health care bill and "fixes" approved yesterday by the House: Technical Explanation of the Revenue Provisions (JCX-18-10) Estimated Revenue Effects (JCX-17-10) Update: Linda Beale, House Passes Health Care Bill Joe Kristan, It's Insane, It's Unworkable, So They Had to Ram it Through Right Away Greg Mankiw,
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Lederman: W(h)ither Economic Substance?
Leandra Lederman (Indiana) has published W(h)ither Economic Substance?, 95 Iowa L. Rev. 389 (2010). Here is the abstract: Transactions that claim inappropriate tax benefits are a perennial problem. When the IRS claims a transaction is abusive, courts generally examine whether the taxpayer had a business purpose and whether the transaction had economic substance (essentially a
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Breitstone: Carried Interest Bill — Impact on Real Estate Partnerships
Stephen M. Breitstone (Meltzer, Lippe, Goldstein & Breitstone, Mineola, NY) has published Carried Interest Bill — Impact on Real Estate Partnerships, 126 Tax Notes 1219 (Mar. 6, 2010). Here is the abstract: This article discusses the practical impact of carried interest legislation on real estate partnerships if enacted in the form currently proposed. This legislation
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TaxProf Blog Weekend Roundup
Saturday: David Hasen Leaves Penn State for Santa Clara AALS, ABA, SALT Support UC-Hastings Over CLS in Supreme Court Case The Strict Liability Penalty Standard in Noneconomic Substance Transactions The Constitutionality of the Texas Margin Tax Sunday: Top 5 Tax Paper Downloads IRS Invites Taxpayers to Apply for Membership on Taxpayer Advisory Panel The Tax
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Top 5 Tax Paper Downloads
There is a bit of movement in this week's list of the Top 5 Recent Tax Paper Downloads, with a new paper (which I highly recommend) debuting on the list at #5: 1. [410 Downloads] Ten Estate Planning Advantages of Limited Liability Companies, by Paul L. Caron (Cincinnati) 2. [338 Downloads] Foreign Bank Accounts — FBAR Reporting Obligations, Enforcement Exposures
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IRS Invites Taxpayers to Apply for Membership on Taxpayer Advisory Panel
The IRS on Friday invited taxpayers to apply for a 3-year term on the Taxpayer Advisory Panel: The IRS is inviting civic-minded individuals to help improve the nation’s tax agency by applying to be members of the Taxpayer Advocacy Panel ("TAP"). The panel provides a forum for citizens from each state to make suggestions regarding IRS decision
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The Tax Impact of the Recovery Act on the Working Poor
Irina Goldberg (LL.M. (Tax) 2010, San Diego; J.D. 2009, Whittier) has published Comment,
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Vallario: Death by a Thousand Cuts: The Rule Against Perpetuities
Angela M. Vallario (Baltimore) has posted Death by a Thousand Cuts: The Rule Against Perpetuities, 25 Harv. J. on Legis. 141 (1999), on SSRN. Here is the abstract: This article suggests the policy and social justifications against dead hand control far outweigh transfer tax advantages provided to wealthy settlors and the potential revenue expected to be
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David Hasen Leaves Penn State for Santa Clara
Tax Prof David Hasen (Penn State), formerly of Michigan and the 2008-09 IRS Office of Chief Counsel Professor in Residence, has accepted a permanent position at Santa Clara. From his Penn State web page: Professor Hasen's principal areas of teaching and research interest are taxation, jurisprudence, administrative law, and contracts. His current research projects include an examination of legal transition
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AALS, ABA, SALT Support UC-Hastings Over CLS in Supreme Court Case
American Lawyer, Law School Groups Back Hastings in High Court Case: Law school organizations are lining up behind the University of California Hastings College of the Law in the upcoming Supreme Court argument pitting the school against the Christian Legal Society. The Association of American Law Schools (AALS) and the Society of American Law Teachers
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The Strict Liability Penalty Standard in Noneconomic Substance Transactions
Mik Shin-Li (J.D. 2011, Fordham) has published Note, Strictly Wrong as a Tax Policy: The Strict Liability Penalty Standard in Noneconomic Substance Transactions, 78 Fordham L. Rev. 2009 (2010). Here is the abstract: This Note analyzes the propriety of using a strict liability standard to assess tax penalties for transactions lacking economic substance. Noneconomic substance
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The Constitutionality of the Texas Margin Tax
Nikki Laing (J.D. 2010, Baylor) has posted Note, An Income Tax by Any Other Name is Still an Income Tax: The Constitutionality of the Texas Margin Tax as Applied to Partnerships and Other Unincorporated Associations, 62 Baylor L. Rev. ___ (2010), on SSRN. Here is the abstract: On January 1, 2008, the business landscape changed dramatically for
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Illinois Supreme Court Revokes Tax-Exempt Status of Hospital for Not Being Charitable Enough
The Illinois Supreme Court yesterday upheld a state tax review board's decision to end a hospital's tax-exempt status because the hospital's charity care equaled less than 1% of its revenues. Provena Covenant Medical Center v. Department of Revenue, No. 107328 (Ill. Mar. 18, 2010). Associated Press, Ill. High Court: Hospital Shouldn't be Tax Exempt Chicago Tribune, Burden Higher for
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Milne: Watersheds — Runoff from the Tax Code
Janet E. Milne (Vermont) has posted Watersheds: Runoff from the Tax Code, 34 Vt. L. Rev. ___ (2010), on SSRN. Here is the abstract: This article examines selected federal and state tax measures from a watershed perspective, exploring ways in which they may—or may not—enhance the quality of water within a watershed. To sharpen the focus
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Tax Prof, Free Beer & Hot Wings
Today marked the zenith (nadir?) of my career: a recent TaxProf Blog post provided fodder for the Free Beer & Hot Wings morning radio show. (Hat Tip: Justin Myers.)