Paul L. Caron
Dean
Pepperdine Caruso
School of Law
News
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Update on Gov. Schwarzenegger’s Proposed 75% Tax on Punitive Damages
Thursday, May 20, 2004 Following up on Saturday’s post: Today’s Wall Street Journal (at A2) has a great piece on California Gov. Schwarzenegger’s Proposed 75% Tax on Punitive Damages. Among the interesting points: • Of the eight states (Alaska, Georgia, Illinois, Indiana, Iowa, Missouri, Oregon and Utah) that currently impose similar taxes, seven let the…
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Lawsuit Claims African-Americans Not Subject to Income Tax
Thursday, May 20, 2004 William Wright, a Columbus, Georgia lawyer, has filed a tax refund suit in federal district court claiming that the income tax cannot be applied to African-Americans (Attorney Argues Blacks Don’t Owe Income Tax): He’s asking Judge Clay Land to declare that the law violates African-Americans’ rights to equal protection and due…
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NY Times Blasts Tax Components of Budget Resolution
Thursday, May 20, 2004 Today’s NY Times has a blistering op-ed (Budget Madness) on the tax components of the budget bill. A sample: “This compromise is a bad election-year joke. Turning large, expensive chunks of the tax code into year-by-year renewals is no way to do tax policy.”
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Treasury Secretary Snow Testifies on Benefits of HSAs
Wednesday, May 19, 2004 Treasury Secretary John Snow testified today on the benefits of Health Savings Accounts (HSAs) before the U.S Senate Special Committee on Aging.
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House Considering State & Local Tax Deduction as Part of ETI Repeal
Wednesday, May 19, 2004 Tax Analysts reports today that the House, as part its consideration of the Extraterritorial Income Exclusion Act (ETI Act), is debating whether to allow taxpayers who live in the 9 states without an income tax (Alaska, Florida, New Hampshire, Nevada, South Dakota, Tennessee, Texas, Washington & Wyoming) to deduct sales and…
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Follow Up: Will Catholic Church’s Criticism of Kerry Jeopardize Tax Exemption?
Wednesday, May 19, 2004 Monday’s post on whether the Bishop of Colorado placed his diocese’s tax exemption in jeopardy by telling Catholics in a pastoral letter that that “any Catholics who vote for candidates who stand for abortion, illicit stem cell research or euthanasia suffer the same fateful consequences [as the candidates who support these…
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Gas Tax
Tuesday, May 18, 2004 Not much tax-related content here (except perhaps a veiled reference to the impact of gas taxes), but I could not resist this great photo (courtesy of the BBC via Discourse.Net):
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Privatizing Tax Collections?
Tuesday, May 18, 2004 The Washington Post has an interesting article on the Senate-approved legislation to privatize tax collections. Not surpisingly, the National Treasury Employees Union opposed the legislation, arguing that the IRS could collect taxes more efficiently than private collections if the agency increased its staffing levels. The union claimed that every $1 spent…
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Tax Court To Open New Electronic Courtroom
Tuesday, May 18, 2004 The Tax Court announced in a press release that it will open its new electronic courtroom on June 1. The accompanying 5-page Guidelines for Use of the Tax Court’s Electronic (North) Courtroom spell out various rules, including the requirement that the courtroom is available only upon joint application of the parties.
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IRS Announces New Resources for Small Businesses
Tuesday, May 18, 2004 The IRS announced new resources for small businesses: IR-2004-69: Two new tools to help small businesses keep their employee retirement plans compliant with federal tax law: a suite of retirement-plan “check-ups” and an employer newsletter. IR-2004-68: A compilation of the resources and services available for small businesses on the IRS web…
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Can Married Mass. Gay Couples File Joint Tax Returns?
Monday, May 17, 2004 The TaxProf Discussion Group today had an interesting thread on whether gay and lesbian couples married in Massachusetts can file a joint federal tax return. The Defense of Marriage Act, of course, on its face would preclude a federal joint return because it directs that “[i]n determining the meaning of any…
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Will Catholic Church’s Criticism of Kerry Jeopardize Tax Exemption?
Monday, May 17, 2004 Donald Tobin (Ohio State) raises the interesting question of whether the Bishop of Colorado placed his diocese’s tax exemption in jeopardy by telling Catholics in a pastoral letter that that “any Catholics who vote for candidates who stand for abortion, illicit stem cell research or euthanasia suffer the same fateful consequences…
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President Bush Seeks Reappointment of Tax Court Judge Colvin
Sunday, May 16, 2004 The White House sent to the Senate its request to reappoint Tax Court Judge John O. Colvin for another 15-year term. Originally appointed to the Tax Court by President Reagan in 1988, Judge Colvin has served as a senior judge since his first 15-year term expired August 31, 2003.
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Gov. Schwarzenegger Proposes 75% Tax on Punitive Damages
Saturday, May 15, 2004 According to today’s L.A. Times, Gov. Schwarzenegger has proposed a 75% tax on punitive damage awards to help close California’s gaping budget deficit. Eight other states (Alaska, Georgia, Illinois, Indiana, Iowa, Missouri, Oregon and Utah) impose similar taxes. See discussion on That’s News To Me (via Legal Theory Blog).
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National Transparency Day
Saturday, May 15, 2004 Today is National Transparency Day, dedicated to encouraging financial transparency among charitable organizations. U.S. Rep. Sue Myrick (R-NC) introduced House Resolution 624 to support the goals of Wall Watchers, a Christian ministry formed to empower donors to make better-informed charitable giving decisions. Political pressure is inexorably building toward Sarbanes-Oxley type reforms…
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GOP Split on Paying For Tax Cuts
Friday, May 14, 2004 Interesting Washington Post article today on the split in the GOP ranks on requiring that tax cuts be paid for by spending reductions or tax hikes.
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Yet More on Extreme Makeover = Extreme Taxes
Friday, May 14, 2004 Following up on this week’s TaxProf Blog posts (see here and here) on Newsweek’s discussion of the tax consequences of ABC’s plan to help the recipients of home makeovers avoid tax on the value of the improvements by characterizing the items as short term rental payments within the meaning of Code…
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Differences Between House and Senate Tax Bills
Thursday, May 13, 2004 Donald Tobin (Ohio State) passed along a very helpful 6-page document given to the House Ways & Means Committee on the differences between the House and Senate versions of the Jumpstart Our Business Strength (JOBS) Act.
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Move Over Madonna: IRS Announces 6-City Summer Tax Forum Tour
Thursday, May 13, 2004 The IRS announced today that it will host a series of six Tax Forums this summer to help educate and serve the tax practitioner community. The dates and cities for each 3-day forum are: • July 6-8 in Atlantic City, New Jersey • July 20-22 in Orlando, Florida • August 3-5…
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Kerry’s Wife To Release Partial Tax Returns
Wednesday, May 12, 2004 The New York Times reports this morning that Teresa Heinz Kerry will release the front two pages of her 2003 federal tax return when she files it by October 15 (the due date under her automatic 6-month extention). The Kerry campaign released summary information showing that she earned over $5 million…
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IRS Seeks Input on “Systemic Tax Issues”
Wednesday, May 12, 2004 The IRS today invited Tax Profs, tax lawyers, and taxpayers to bring “systemic tax issues” to the attention of the IRS’s Taxpayer Advocate Service via the Internet. Advocacy projects will be initiated on those items that affect multiple taxpayers and relate to IRS systems, policies, and procedures. The advocacy projects developed…
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IRS Accepting Grant Applications for Low Income Taxpayer Clinics
Tuesday, May 11, 2004 The IRS is accepting grant applications for low income taxpayer clinics. Non profit organizations (like law schools) providing free or nominal fee representation to people involved in tax disputes can apply for grants worth up to $100,000 for the 2005 grant cycle. The Low Income Taxpayer Clinic grant program is entering…
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Tax Talk Today Webcast on IRS Examination Program Changes
Tuesday, May 11, 2004 The monthly Tax Talk Today program offers a free webcast from 2:00 p.m. – 3:00 p.m. EST on IRS Examination Program Changes. The moderator is Les Witmer, APR Communications Consultant in Atlanta. Panelists include William Conlon (Director, Reporting Compliance, Small Business/Self-Employed (SB/SE) Division, Internal Revenue Service); Robert K. Dooley (Director, Tax…
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Small Florida Town (Population 6,000) Floats $2 Billion in Tax-Exempt Bonds
Monday, May 10, 2004 The IRS is questioning two small Florida towns that have floated over $2 billion in tax-exempt bonds for projects like casinos built by Baltimore-based Cordish Co. for the Seminole Tribe of Florida, as well as to form bond pools. The state of Florida alleges that only 10-12% of the proceeds in…
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More Pressure on Sen. Kerry To Release His Wife’s Tax Returns
Thursday, May 6, 2004 Add the Washington Post to the growing media chorus demanding that Sen. Kerry release his wife’s tax returns. Thanks to TaxGuru for the tip. For prior TaxProf Blog coverage, see here.