Paul L. Caron
Dean
Pepperdine Caruso
School of Law
News
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Yukos: The First Tax Case With Its Own Web Site?
Friday, July 9, 2004 For those following the facinating tale of Russian courts trying to assess a $3.4 billion tax judgment against the Yukos oil company, check out this web site (to my knowledge, the first web site devoted exclusively to a tax case).
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Harvard Assistant: “My Blog Got Me Fired”
Thursday. July 8, 2004 Former Harvard Administrative Assistant Norah Burch says she was fired after university officials read her blog: To me, blogging became a sort of electronic primal scream, one that saved the eardrums of my co-workers . . . until one day last month, when my boss read my blog. . . .…
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Americans for Tax Reform Criticizes Edwards Selection
Thursday, July 8, 2004 Anericans for Tax Reform has issued a press release criticizing the selection of John Edwards to run as VP on the Democratic ticket with John Kerry: Like Kerry, Edwards has a nasty record of voting against taxpayers. In six short years he has amassed an anti-taxpayer record rivaling both Kerry and…
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Wall Street Journal Criticizes Golden Parachute Rules (Section 280G)
Wednesday, July 7, 2004 Interesting piece in today’s Wall Street Journal (at C1) concluding, as critics of Section 280G have long contended, that the golden parachute rules do not effectively limit executive compensation: As CEOs Miss Bonus Goals, Goalposts Move; Companies Adjust Target Levels, Keeping Their Executives Happy; IRS Pay-Curb Ignored: If at first you…
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Today is “Cost of Government Day”
Wednesday, July 7, 2004 Americans for Tax Reform has announced that today (July 7) is “Cost of Government Day,” the day on which the average American has earned enough in cumulative gross income to pay for their share of government spending (total federal, state, and local), plus the cost of regulation. For the complete 12-page…
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IRS Releases National Taxpayer Adovcate’s Report to Congress
Wednesday, July 7, 2004 The IRS today released National Taxpayer Adovcate Nina Olson’s 108-page report to Congress “that calls for enhanced protection of taxpayer rights by tax administrators and improvements in the offer-in-compromise, collection due process and tax e-filing programs. The report, which is required by law, sets out the objectives of the Office of…
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ABA Tax Section Opposes IRS Whistleblower Provision
Wednesday, July 7, 2004 The ABA Tax Section has written a 2-page letter to Congress opposing the IRS whistleblower rewards provision (section 488) of the Senate-passed JOBs bill (S. 1637). The ABA Tax Section is concerned that "the provision may impair rather than enhance tax administration."
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Choice of Edwards as VP Fuels Demand for Kerry’s Wife to Release Tax Returns
Wednesday, July 7, 2004 Newmax.com (via TaxGuru) reports that Sen. Kerry’s choice of John Edwards for VP has renewed calls for Teresa Heinz Kerry to release her tax returns: Now that he’s been tapped to be Sen. John Kerry’s running mate, Sen. John Edwards will almost certainly release tax returns on the millions of dollars…
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Still More on Intersection of Tax, Religion, and Politics
Wednesday, July 7, 2004 Following up on last month’s post about the IRS’s 3-page letters to the presidential campaigns warning that it “will take whatever actions are necessary to stem abusive behavior” by churches that directly or indirectly participate in the campaigns on behalf of any candidate: the Washington Post reports that the Bush campaign…
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New Study: Aggressive Accrual Accounting Leads To Lawsuits
Wednesday, July 7, 2004 The Wall Street Journal reports on a new study by Criterion Research Group showing the companies that take the most aggressive accrual accounting stances are four times as likely to be sued by shareholders as less aggressive peers. An earlier study reported that such aggressive companies also under-perform their peers.
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New D.C. Declaration of Independence
Sunday, July 4, 2004 On this July 4th, check out the new D.C. Declaration of Independence: D.C. Vote — Working to Secure Democracy for Washington, D.C., reports that “tens of thousands” of these Taxation Without Representation License Plates have cropped up on cars all over D.C.
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1,500 Taxpayers Come Clean in Son of Boss Tax Shelters
Friday, July 2, 2004 The IRS announced that over 1,500 taxpayers have taken advantage of its amensty program in Announcement 2004-46 (previously blogged here) and come clean about their investments in Son of Boss tax shelters. For press reports, see here. (Thanks to Fred Harris (Illinois) for the tip.)
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Conservative Law Prof Challenges School’s Refusal To Allow Him To Teach Con Law
Thursday, July 1, 2004 Law Prof Rob Natelson of Montana, a self-described conservative who claims he has published 40% of all the scholarship produced by his school’s faculty, alleges that his dean refused to allow him to teach con law solely because of his political views. “The law school apparently views this course as politically…
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D.C. Tax Party Tonight
Thursday, July 1, 2004 Washington, D.C. area Tax Profs and tax lawyers should check out the shindig tonight sponsored by the Tax Section of the D.C. Bar: The New Tax Practitioners’ Committee of the Taxation Section invites you to our Annual Summer Networking Reception at the Senate Finance Committee’s Hearing Room. This reception will provide…
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IRS to Disallow Charitable Deductions for Gifts of Easements
Thursday, July 1, 2004 The Treasury Department (Notice 2004-41) and IRS (IR-2004-86) yesterday announced that the IRS will disallow improper charitable deductions for transfers of easements to charities.
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Republican Rift Stymies Tax Policy
Thursday, July 1, 2004 The Washington Post yesterday detailed the GOP split between tax cutters and deficit hawks that has stymied tax legislation.
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Social Security Loophole Closes Today
Wednesday, June 30, 2004 Fascinating reports in the New York Times and Mauled Again on a social security loophole that closes today. Here’s the opening from the New York Times: Thousands of Texas teachers are rushing to retire before a lucrative loophole in Social Security law closes, but there is one catch: They must first…
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NY Times Article on Former Sidley Austin Partner’s Tax Shelter Work
Wednesday, June 30, 2004 Interesting article in today’s New York Times about Raymond Ruble, tax partner at mega firm Sidley Austin who was dismissed in October because of his work on various tax shelters. The piece opens a window on the economics of tax shelter opinions by law firms, with Mr. Ruble bringing in $9,000…
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Estate Tax Debate in the Blogosphere
Wednesday, June 30, 2004 Interesting debate in the blogosphere among non-tax professors over the the estate tax. Texas law & philosophy prof Brian Leiter offers this Marxist perspective: In the United States, … a majority of the population favors abolition of the estate tax—what the ideologues of the ruling class now call a “death tax”—believing…
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IRS Releases Two New Publications on Car Donations
Wednesday, June 30, 2004 The IRS on Tuesday released two new publications dealing with charitable donations of automobiles (IR-2004-84): • Pub. 4302 — A Charity’s Guide to Car Donations • Pub. 4303 — A Donor’s Guide to Car Donations
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Colombo Quoted in WSJ Article on Challenges to Non-Profit Hospitals’ Tax Exemption
Tuesday, June 29, 2004 Tax Prof John Colombo (Illinois) is quoted in today’s Wall Street journal (A Nonprofit Hospital Fights To Win Back Charitable Halo) on how non-profit hospitals face the loss of their local property tax exemptions on the ground that they are not operated for charitable purposes in light of the decreasing amount…
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Am Law 100 Partner Salaries
Tuesday, June 29, 2004 As a follow-up to the post here about summer associate salaries topping $2,500 per week: American Lawyer today released its annual ranking of the compensation of those lawyers at the top of the food chain — partners in the 100 top-grossing law firms. Equity partners at these firms rake in an…
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U.S. Magistrate Allows Deposition of IRS Officials in Tax Shelter Case
Tuesday, June 29, 2004 Tax Analysts reports that U.S. Magistrate Judge Beth P. Gesner (U.S. District Court – Maryland) on Monday denied a government motion for a protective order to prevent the depositions of two IRS officials in the Black & Decker refund suit: Gesner’s ruling leaves Frank Y. Ng, Director of Prefiling and Technical…
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Cumulative US News Law School Rankings
Monday, June 28, 2004 A new ranking of the Top 25 law schools (via JD2B.com), as measured by each school’s cumulative US News Rankings since 1987. The top 10 (and their cumulative average scores): 1. Yale (1.00) 2. Harvard (2.40) 3. Stanford (2.67) 4. Chicago (4.60) 5. Columbia (4.60) 6. NYU (5.87) 7. Michigan (6.87)…
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U.S. Joins Anti-Tax Avoidance Alliance
Monday, June 28, 2004 The U.S. joined Australia, Britain, and Canada in a global effort to combat tax avoidance by establishing a computer database listing of “tax dodgers and their accountants.” Under the agreement announced in Sunday’s Financial Mail following a secret tax summit in London, the four countries will share detailed information on individuals…