Paul L. Caron
Dean
Pepperdine Caruso
School of Law
Celebrity Tax Lore
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WSJ: Tax Consequences of Catching Barry Bonds’ 756th Home Run
Interesting article in today’s Wall Street Journal: The Big Catch Could Have A Big Catch, by Tom Herman: As San Francisco Giants slugger Barry Bonds closes in on Hank Aaron’s career home-run record, a thorny question looms: If you’re the lucky fan who catches the record-breaking home run ball, what are the tax consequences? The…
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The Trials of Law School: A Journey in Law, A Journey in Life
The Trials of Law School: A Journey in Law, A Journey in Life, the first feature-length documentary film about U.S. Law Schools, is scheduled to be released later this summer. Here is the trailer: The film follows eight students through their first year of law school "as they encounter a new language, a new way…
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How Big is Apple’s “Tax” on iPhone Users?
The answer, according to The Guardian, is $3 per month for every iPhone purchased by existing AT&T subscribers and $8 per month for every iPhone purchaser who transfers service to AT&T from another wireless provider.
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Tax Consequences to Billy Donovan of His Aborted Contract to Coach the Orlando Magic
Jeffrey H. Kahn (Penn State) & Joshua P. Fershee (North Dakota) have posted Tax Magic: Did Billy Donovan Pull Income Out of a Hat?, 116 Tax Notes ___ (2007), on SSRN. Here is the abstract: Billy Donovan is the men’s head basketball coach at the University of Florida. Donovan agreed to become the new coach…
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Judge to Appeal $54 Million Lawsuit Against Neighborhood Dry Cleaners Over Missing Pants
From the Washington Post: The $54 Million Pants Suit That Wouldn’t Die, by Mark Fisher: He’s baaaa-ack: Roy Pearson, the D.C. administrative law judge who filed, fought and lost a $54 million lawsuit against the Korean immigrants who own his neighborhood dry cleaners, chose the Fourth of July holiday to make it clear that he…
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iPhone = iTax: Apple Employees Will Have to Pay IRS for Steve Jobs’ “Gift”
Apple has announced that by the end of the month it will give its 18,000 full-time U.S. employees a free 8-gigabyte iPhone (retail price: $599). Apple has not said whether it will also pick up the cost of the wireless plan (two-year contracts start at $59.99). The tax angle? Apple will have to include the…
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Warren Buffet Pays 17.7% Tax Rate; His Employees Pay 32.9%
Interesting report from the Hillary Clinton fundraiser last night: Warren Buffet complained that he paid a 17.7% tax rate on his $46 million of taxable income in 2006, while his employees paid an average 32.9% tax rate (his receptionist’s tax rate was 30%). Update: For additional commentary, see Citizens for Tax Justice, Buffett: The Rich…
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Judge Rules for Dry Cleaners in $64 Million Lawsuit Over Missing Pants
Washington, D.C. Superior Judge Judith Bartnoff entered judgment today in favor of the dry cleaners sued by Administrative Law Judge Roy Pearson for $65 million over $10 of alterations to his pants. From the 23-page opinion: With regard to the alleged missing pants, the plaintiff has not met his burden of proving that the pants…
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Marion Barry Avoids Prison in Tax Case
Interesting article in the Washington Times: Barry Avoids Prison in Tax Case, by Jim McElhatton: D.C. Council member Marion Barry avoided prison time when a judge today denied a bid to revoke his probation after he failed to file tax returns on time for the seventh straight year. U.S. Magistrate Judge Deborah Robinson said prosecutors…
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Lawyer Who Told Judge “You’re a Few French Fries Short of a Happy Meal” Escapes Suspension from Practice Before Judge
William P. Smith, the Chicago-based McDermott Will & Emery partner who told a Miami bankruptcy judge in open court "[Y]ou’re a few french fries short of a Happy Meal" (transcript here) was ordered yesterday by the judge to take an online professionalism course from the Flordia bar (even though he is is not a member…
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Guy Convicted of Stealing Beer Asks Court to “Let It Be”; Judge Quotes 42 Beatles Song Titles in Sentencing Order
Non-tax, but funny two-page order as reported in The Daily Mail: When Andrew McCormack, convicted of stealing beer, was asked as part of a pre-sentence report to recommend what his sentence should be, he responded, "Like the Beetles say, Let It Be." Montana state court judge Gregory Todd quoted 42 Beatles song titles in sentencing…
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Law Firm to Apologize for Lawyer Telling Judge “You’re a Few French Fries Short of a Happy Meal”
A follow up on our coverage (here and here) of the lawyer who told a judge in open court that she was "a few french fries short of a Happy Meal." From today’s Daily Business Review: McDermott Chairman to Offer Firm’s Apologies for Partner’s Remark to Judge, by Daniel Ostrovsky: Chicago attorney William P. Smith…
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Treasury Department Comic in America’s “Funniest Fed” Contest
Following up on Monday’s post about Marshall Henry, a Treasury Department employee who is one of the ten finalists in the America’s Funniest Federal Employee Contest: folks have inquired about Marshall’s job in the Treasury Department. Here is Marshall’s response: At Treasury, I’m dedicated to helping convert government collections to an electronic medium, specfically over…
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NY Times on Judge’s $54 Million Suit Over Dry Cleaner’s $10 Alteration to His Pants
Today’s New York Times picks up on the story (blogged here and here) of this week’s trial of the Washington, D.C. administrative judge’s $54 million claim against his neighborhood dry cleaner over a $10 alteration to his pants: Judge Tries Suing Pants Off Dry Cleaners, by Ariel Sabar & Suevon Lee. For more coverage, see…
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Imelda Marcos Acquitted of Tax Evasion
Former Philippine First Lady Imelda Marcos was acquitted yesterday of tax evasion by a Manilla court. Government prosecutors failed to prove that Ms. Marcos failed to pay income and estate taxes in 1985 and 1989. (AP and Reuters)
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Actor Wesley Snipes Plays Race Card in Tax Fraud Case
I previously have blogged actor Wesley Snipes’ indictment on tax fraud charges alleging that he sought $12 million in tax refunds and failed to file returns for six years (see links below the fold). The Smoking Gun provides a copy of Snipes’ motion to dismiss the indictment arguing that the indictment was "impermissibly brought on…
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Vote for Treasury Department Comic in America’s “Funniest Fed” Contest
Marshall Henry, a Treasury Department employee, is one of the ten finalists in America’s Funniest Federal Employee contest. To view one of Marshall’s comedy bits, see here. My favorite lines: "I work for a nonprofit agency — the Treasury Department." "I am the Jack Bauer of the Treasury Department — I only work 24 hours…
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Trial Begins Today in Judge’s $54 Million Suit Over Dry Cleaner’s $10 Alteration to His Pants
I previously blogged the story of the Washington, D.C. administrative judge who sued his neighborhood dry cleaner for $65 million over a $10 alteration to his pants. The judge has since reduced his demand to $54 million, and the trial is scheduled to begin today. The Washington Post reports on a proposed settlement.
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Video: President Bush’s Tax Cuts, in Ecolanguage
Check out this clip, President Bush’s Tax Cuts, in Ecolanguage (13:27):
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Vote for the TaxProf Blog Theme Song
Hillary Clinton is asking for the public to vote on her campaign these song. Tax Prof Bridget Crawford (Pace) is seeking a theme song for her Feminst Law Professors Blog. In the same spirit, please vote on a TaxProf Blog theme song from among these nominees previously featured on the blog: It’s Just a Breeze…
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Arizona to Waive Sales Tax to Attract 2009 NBA All-Star Game
Having just returned from the LSAC Annual Meeting and Education Conference in Tucson, this item from Sports Law Blog caught my eye : Arizona to Waive Sales Tax to Attract 2009 NBA All-Star Game: [S]ome state lawmakers are seeking to pass a waiver of the state sales tax charged on tickets for the game and…
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Why Do You Teach?
Taylor Mali, "the spokesman for teaching’s nobility, the poet laureate of passion in the classroom," does a wonderful bit on What Teachers Make: See here for a history of "What Teachers Make." Here is Taylor’s mission statement: I want to reform education in America from top to bottom. I want to be the individual responsible…
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Lawyer Who Told Judge “You’re a Few French Fries Short of a Happy Meal” Loses Client, May Lose Ability to Practice Before Judge
A follow-up on William P. Smith, the McDermott Will & Emery partner who told a Miami bankruptcy judge in open court: "[Y]ou’re a few french fries short of a Happy Meal" (blogged here). Law.com reports that the comment has already cost him his client, and may cost him the ability to practice before the U.S.…
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Pirates of the Caribbean and Tax
From Slate’s review of the new Pirates of the Caribbean movie: [D]ying in the Pirates of the Caribbean world is sort of like being audited by the IRS: Sure, it’s a drag, but as long as you talk to the right people and pony up the loot, it’ll be over with soon enough. The tax…
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Lawyer Tells Judge in Open Court: “You’re a Few French Fries Short of a Happy Meal”
Lawyer tells judge in open court: "[Y]ou’re a few french fries short of a Happy Meal." See the full quotation at David Lat, along with the page from the official transcript.