Paul L. Caron
Dean
Pepperdine Caruso
School of Law
Tax Analysts
-
Thorndike: The Debt Debate and the Revival of Progressive Taxation
Joseph J. Thorndike (Tax Analysts) has published Why Liberals Should Learn to Love the Debt Debate, 132 Tax Notes 472 (Aug. 1, 2011): The debt limit crisis is the best thing to happen to liberalism in 30 years. It’s a manufactured crisis, of course. Republicans have conjured it out of thin air, convinced that it will
-
Sullivan: Foreign Tax Profits of the Top 50 U.S. Companies
Martin A. Sullivan (Tax Analysts) has published Foreign Tax Profits of the Top 50 U.S. Companies, 132 Tax Notes 330 (July 25, 2011): In 2010 America’s 50 most profitable companies generated nearly $600 billion of profits before taxes —38% of all U.S. profits. The average effective corporate tax rate reported to shareholders was 26%. Foreign profits
-
Tax Analysts Hosts Roundtable Today on Taxes and the Guidance Problem
Tax Analysts hosts a roundtable discussion today from 9:00 a.m. – 11:00 a.m. at the National Press Club in Washington, D.C. on Taxes and the Guidance Problem: Christopher E. Bergin (President and Publisher, Tax Analysts) (moderator) Linda Stiff (Managing Director, PricewaterhouseCoopers; former acting IRS Commissioner) Michael J. Desmond (Partner, Bingham McCutchen; former Treasury Tax Legislative Counsel) Phillip
-
A Conversation With Prof. Charlotte Crane
A Conversation With Prof. Charlotte Crane, 132 Tax Notes 241 (July 18, 2011): Charlotte Crane is a law professor at Northwestern University School of Law, where she teaches corporate tax and tax policy in both the JD and graduate tax programs and frequently conducts an annual colloquium for academic tax scholarship. She began her law
-
Buckley: Common Misperceptions About Tax Expenditure Reform
John L. Buckley (Georgetown) has published Tax Expenditure Reform: Some Common Misperceptions, 132 Tax Notes 255 (July 18, 2011): The debate on tax reform has focused almost exclusively on tax expenditures. This report will examine some common misconceptions that have become part of that debate and understate the difficulty of comprehensive tax reform. Most tax
-
Sullivan: What the Debt Limit Debacle Teaches Us About Tax Reform
Martin A. Sullivan (Tax Analysts) has published What the Debt Limit Debacle Teaches Us About Tax Reform, 132 Tax Notes 215 (July 18, 2011): Tax reform will not be a part of the legislation that raises the debt limit. Congress and President Obama cannot even agree on the broad outlines of reform. And even if
-
Johnson: A 1% Tax on the Market Capitalization of Public Companies
Calvin H. Johnson (Texas) has published Taxing GE and Other Masters of the Universe, 132 Tax Notes 175 (July 11, 2011). Here is the abstract: General Electric Co. paid essentially no tax in 2010. A 35% tax on GE’s economic income would have been $6.8 billion, or $4.7 billion with inflation adjustments. Generally accepted accounting
-
Would a President Bachmann Be Best Positioned to Lead Tax Reform Effort?
Amy S. Elliott, Tax Background Key to Bachmann’s Presidential Pitch, 132 Tax Notes 114 (July 11, 2011): It’s a notion with a certain logic: Who would be better to spearhead top-to-bottom tax reform than a former tax attorney? If enough voters buy that argument, Rep. Michele Bachmann, R-Minn., a presidential candidate and a former IRS attorney,
-
Jackel: When Is the Economic Substance Doctrine Relevant?
Monte A. Jackel (PricewaterhouseCoopers, Washington, D.C.) has published When Is the Economic Substance Doctrine Relevant?, 132 Tax Notes 77 (July 5, 2011): Jackel reviews the recent Third Circuit Schering-Plough decision and attempts to determine whether the court’s express refusal to address the lower court’s economic substance analysis provides any guidance for future cases under new
-
Hatfield: Teaching Tax Lawyer Ethics
Michael Hatfield (Texas Tech) has published Teaching Tax Lawyer Ethics, 132 Tax Notes 87 (July 5, 2011), reviewing: Donald B. Tobin (Ohio State), Richard Lavoie (Akron) & Richard E. Trogolo (IRS Office of Chief Counsel), Problems in Tax Ethics (West 2009) Linda Galler (Hofstra) & Michael B. Lang (Chapman), Regulation of Tax Practice (LexisNexis 2011) [T]he
-
Johnston: A Cosmic View of Tax Policy
David Cay Johnston has published A Cosmic Visitor’s Take on Tax, 132 Tax Notes 83 (July 5, 2011): In this column, his last for Tax Notes, Johnston suggests fresh ways to think about tax policy. … We are abusing our child — which is to say we are abusing America — with all of the hate-filled, nonsensical, demagogic
-
Kwall: The Repeal of Graduated Corporate Tax Rates
Jeffrey L. Kwall (Loyola-Chicago) has published The Repeal of Graduated Corporate Tax Rates, 131 Tax Notes 1395 (June 27, 2011). Here is the abstract: Section 11 applies a bracket system to corporations, imposing lower tax rates on lower amounts of income. Similarly, § 1 applies a bracket system to individuals, which is intended to adjust the
-
Browne: Canal and Reasonableness of TP Reliance on Tax Advisor-Planner
James R. Browne (Strasburger & Price, Dallas) has published Canal: Casting Stones, 131 Tax Notes 1363 (June 27, 2011): In this report, Browne argues that the Tax Court in Canal [135 T.C. 199 (2010)] erred in holding that reliance on a tax adviser is per se unreasonable when the adviser was involved in planning the
-
Sullivan: ‘Stateless Income’ Is Key to International Tax Reform
Martin A. Sullivan (Tax Analysts) has published “Stateless Income” Is Key to International Reform, 131 Tax Notes 1315 (June 27, 2011): Next time you hear multinationals talk about international tax reform — which they equate to an exemption system that does not deny deductions for expenses allocable to foreign income — notice that there is
-
Soled: No Taxes, No Driver’s License
Jay A. Soled (Rutgers Business School) has published Using Driving Privilege to Solve States’ Fiscal Crises, 60 State Tax Notes 841 (June 13, 2011): Most people place a high premium on driving, and all states place a high premium on taxpayers paying their fair share of taxes. State lawmakers should connect the privilege of driving to payment of
-
Crawford: Fixing the Federal Wealth Transfer Tax System
Bridget J. Crawford (Pace) has published Fixing the Federal Wealth Transfer Tax System, 131 Tax Notes 1281 (June 20, 2011): At the end of last year, the 2010 Tax Act was enacted to extend many of the Bush-era tax cuts. It also increased the estate and gift tax exemption to $5 million, lowered the rate to 35%,
-
Johnston: Close Encounters of the Tax Myth Kind
David Cay Johnston has published Close Encounters of the Tax Myth Kind, 131 Tax Notes 1299 (June 20, 2011): In this column, Johnston addresses several tax myths, including the economic effects of the Bush tax cuts, the number of jobs created by targeted tax benefits, and how Formula One racing will help the Texas economy. All Tax
-
Wood: I’m Not a Tax Lawyer, but . . .
Robert W. Wood (Wood & Porter, San Francisco) has published I’m Not a Tax Lawyer, but …,, 131 Tax Notes 1191 (June 13, 2011): Most readers of Tax Notes have probably heard the phrase ‘‘I’m not a tax lawyer, but . . . .’’ Usually it is followed by some purported tax rule or analysis.
-
Sullivan: Let’s Tax Large Passthroughs as Corporations
Martin A. Sullivan (Tax Analysts) has published Why Not Tax Large Passthroughs as Corporations?, 131 Tax Notes 1015 (June 6, 2011): Most large profitable American businesses must pay the corporate income tax. Others are completely exempt from it. The unfairness of this is so plain even a 5-year-old can understand it. … The essence of
-
The Top Tax Rate on Corporate Profits, 1913-2011
Jim Nunns (Tax Policy Center) has published The Top Total Income Tax Rate on Corporate Profits, 1913-2011, 131 Tax Notes 1081 (June 6, 2011): Corporate profits are taxed under both the corporate and individual income taxes. The total income tax rate on corporate profits therefore depends on the corporate rate and the individual rates on dividends
-
ABA Tax Section Chair Challenges Congress: Put Tax Lawyers Out of Business
Amy S. Elliott, ABA Tax Section Chair Challenges Congress to Put Tax Lawyers Out of Business, 2011 TNT 112-8 (June 10, 2011): The chair of the ABA Section of Taxation, unfazed by the prospect of losing 22% of the section’s membership — which occurred after the enactment of the Tax Reform Act of 1986 —
-
Johnson: Deference to Tax Agencies’ Interpretation of Their Regs
Steve R. Johnson (UNLV; moving to Florida State) has published Deference to Tax Agencies’ Interpretation of Their Regulations, 60 State Tax Notes 665 (May 31, 2011). Here is the abstract: This installment closes a loop begun in the last installment of this column. [Conditional Deference to State Revenue Authorities, 60 State Tax Notes 269 (Apr. 25, 2011)] We
-
Earl v. Seaborn: Did the Fruit Fall Too Far From the Tree?
Katherine D. Black (Utah Valley University, Department of Accounting), Mary K. Black (J.D. 2012, BYU) & Julie M. Black (J.D. 2012, BYU) have published Earl v. Seaborn: Did the Fruit Fall Too Far From the Tree?, 131 Tax Notes 943 (May 31, 2011). Here is the abstract: In 1948 Congress created the joint filing status to try to
-
Cummings: Economic Substance Doctrine Felonies
Jasper L. Cummings, Jr. (Alston & Bird, Raleigh, NC) has published Economic Substance Doctrine Felonies, 131 Tax Notes 977 (May 31, 2011). Here is the abstract: The economic substance doctrine is so obscure that Congress has been unable to define when it applies and what exactly it is. Treasury and the IRS refuse to give any indication
-
Tax Analysts Offers Tax e-Code & Regs
Tax Analysts has released an Internal Revenue e-Code & Regs. From the press release: “With our e-book, tax professionals will no longer have to dig through a printed book or even tap the Internet,” said Christopher E. Bergin, Tax Analysts president and publisher. “Our e-book will enable them to keep the information they need at their