Paul L. Caron
Dean
Pepperdine Caruso
School of Law
Tax Analysts
-
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
-
Smith: Friedland — Did the Tax Court Blow its Whistleblower Jurisdiction?
Carlton M. Smith (Cardozo) has published Friedland: Did the Tax Court Blow its Whistleblower Jurisdiction?, 131 Tax Notes 843 (May 23, 2011). Here is the abstract: This article analyzes Friedland [T.C. Memo. 2011-90 (Apr. 25, 2011)], a recent Tax Court memorandum opinion, and concludes that in light of recent Supreme Court opinions, the Tax Court was
-
Shaviro: 1986-Style Tax Reform: A Good Idea Whose Time Has Passed
Daniel N. Shaviro (NYU) has published 1986-Style Tax Reform: A Good Idea Whose Time Has Passed, 131 Tax Notes 817 (May 23, 2011). Here is the abstract: The Tax Reform Act of 1986 combined base broadening (such as the curtailment of tax expenditures) with a reduction in tax rates, in a manner designed to be revenue
-
Sullivan: Why Obama’s Corporate Tax Reform Will Fail
Martin A. Sullivan (Tax Analysts) has published Why Obama’s Corporate Tax Reform Will Fail, 131 Tax Notes 775 (May 23, 2011): The key to Obama’s strategy on corporate tax reform is his insistence that reform not spread to other parts of the tax code and that it be revenue neutral. Although many can disagree, the president could
-
Johnson: Corporate Meltdowns Caused by Compensatory Stock Options
Calvin H. Johnson (Texas) has published Corporate Meltdowns Caused by Compensatory Stock Options, 131 Tax Notes 737 (May 16, 2011). Here is the abstract: Tax contributes to high-risk investments that cause meltdowns when the high risk turns into losses. This proposal would end the exemption of compensatory stock options from the § 162(m) $1 million limit
-
Durst: Making International Tax Reform Possible
Michael C. Durst (Steptoe & Johnson, Washington, D.C.) has published Building on Wyden-Coats: Making International Tax Reform Possible, 131 Tax Notes 741 (May 16, 2011): Durst praises the recently introduced Wyden-Coats reform proposal, but he suggests ways it might be enhanced to increase the likelihood of enactment, particularly regarding its international provisions. In particular, Durst recommends
-
Yale: Defining ‘Partnership’ For Federal Tax Purposes
Ethan Yale (Virginia) has published Defining ‘Partnership’ For Federal Tax Purposes, 131 Tax Notes 589 (May 9, 2011): This report examines the case law and statutory history of the terms ‘‘partner’’ and ‘‘partnership,’’ including the seminal Supreme Court cases of the late 1940s, the 1951 amendments that added the language now codified at § 704(e)(1), and the check-the-box
-
DOJ Won’t Argue for Chevron Deference For Revenue Rulings and Procedures
DOJ Won’t Argue for Chevron Deference for Revenue Rulings and Procedures, Official Says, 2011 TNT 90-7 (May 10, 2011): The Department of Justice will no longer argue for Chevron deference for revenue rulings and revenue procedures, said Gilbert Rothenberg, appellate section chief in the DOJ’s Tax Division. Academics had speculated that guidance published in the Internal Revenue
-
Johnston: Ryan’s $34 Trillion Tax Folly
David Cay Johnston has published Ryan’s $34 Trillion Tax Folly, 131 Tax Notes 619 (May 9, 2011): Johnston examines how the cost shifting in the Ryan budget plan would increase costs for individuals by many times more than the amount of taxes saved, creating vast new inefficiencies. All Tax Analysts content is available through the LexisNexis® services.
-
Johnson: Corporate Meltdowns and the Deduction of Credit-Risk Interest
Calvin H. Johnson (Texas) has published Corporate Meltdowns and the Deduction of Credit-Risk Interest, 131 Tax Notes 513 (May 2, 2011). Here is the abstract: Corporate equity is like an option for big, highvolatility investments because shareholders get all the gains but shift some of the losses to creditors by defaulting on the debt. That asymmetry
-
GE Responds to David Cay Johnston
GE responds to David Cay Johnston’s April 6 Tax Notes column, Regressive Tax Inc., 131 Tax Notes 215 (Apr. 11, 2011), in this letter to the editor, 131 Tax Notes 527 (May 2, 2011): David Cay Johnston’s April 11 column … made a tortured attempt to criticize GE, suggesting that GE paid no federal income taxes in
-
Hellerstein & Sedon: Legal Issues Confronting VAT Regimes
Walter Hellerstein (Georgia) & Jon Sedon (KPMG, Washington, D.C.) have published Challenging Legal Issues Confronting VAT Regimes, 131 Tax Notes 409 (Apr. 25, 2011): The article discusses areas of controversy that raise fundamental issues in contemporary VAT regimes: the treatment of single-entity or branch-to-branch transactions, judicial restraints on VAT structure planning, and the treatment of customer loyalty
-
Crawford: Palumbo and the Estate Tax Charitable Deduction
Bridget J. Crawford (Pace) has published Palumbo and the Estate Tax Charitable Deduction, 131 Tax Notes 423 (Apr. 25, 2011): Crawford analyzes the arguments in Estate of Palumbo v. United States, (Mar. 8, 2011), a case involving a claimed estate tax charitable deduction for amounts passing to charity under the settlement of a will contest. All Tax
-
Johnston: The Ayn Rand Tax Plan
David Cay Johnston has published Return to Sherwood Forest, 131 Tax Notes 429 (Apr. 25, 2011): Thank goodness for House Budget Committee Chair Paul Ryan. Because of the budget plan put forward by the Wisconsin Republican, we are finally going to have a tax policy debate that everyday Americans can understand. … All but four House Republicans embraced
-
Bassin & Larkin: Mayo and Retroactive Regs
Stuart J. Bassin (Baker & Hostetler, Washington, D.C.) & Beatrice Larkin (Tax LL.M. 2011, Georgetown) have published The Limits of Mayo Foundation v. United States: Retroactive Regs, 131 Tax Notes 293 (Apr. 18, 2011): Many practitioners have commented on the impact of the Supreme Court’s Mayo decision on the susceptibility of IRS regulations to validity challenges. This article
-
Aprill: Legal Defense Funds as Political Organizations
Ellen P. Aprill (Loyola-L.A.) has published Legal Defense Funds as Political Organizations, 131 Tax Notes 277 (Apr. 18, 2011): This report lays out the advantages of, and difficulties with, registering a congressional legal defense fund as a § 527 organization. It begins by offering as background a summary of the congressional and executive branch rules that
-
Miller: How U.S. Tax Law Encourages Investment Through Tax Havens
David S. Miller (Cadwalader, New York) has published How U.S. Tax Law Encourages Investment Through Tax Havens, 131 Tax Notes 167 (Apr. 11, 2011): In this report, he catalogues the many ways that federal and state tax law encourages taxpayers to operate through foreign tax haven companies to reduce their federal and state tax liabilities, and he
-
Johnston: NY Times Pays 6x Higher Tax Rate Than GE
David Cay Johnston has published Regressive Tax Inc., 131 Tax Notes 215 (Apr. 11, 2011): Johnston analyzes the tax bills of General Electric Co. and the publishing company whose flagship newspaper gave front-page coverage to GE’s tax practices. Just as the individual income tax falls more heavily on the affluent than the super-rich, so too does the
-
Johnson: Mayo and the Future of Tax Regulations
Steve R. Johnson (UNLV) has has published Mayo and the Future of Tax Regulations, 130 Tax Notes 1547 (Mar. 28, 2011): The years 2009 to 2011 have been an active period for taxpayer challenges to regulations. This has resulted in many important judicial opinions. Johnson believes the most important is the Supreme Court’s January 11 Mayo decision. Mayo
-
Lee Sheppard Speaks Today at John Marshall
Lee Sheppard (Contributing Editor, Tax Analysts) speaks today at John Marshall’s Center for Tax Law & Employee Benefits on Dodd-Frank Act’s Stranglehold Over Banks: Lee will speak on the Dodd-Frank Wall Street Reform and Consumer Protection Act and its impact on banks’ capital requirements. Lee is a dynamic presenter, with tremendous insight and who has
-
Sullivan: Using a VAT to Fund Corporate Tax Reform
Martin A. Sullivan (Tax Analysts) has published Corporate Reform: Time to Think Outside the Box, 130 Tax Notes 1513 (Mar. 28, 2011): Revenues from a VAT could be used to reduce the corporate rate. Table 3 shows the VAT rates required for different levels of rate reduction. A reduction in the corporate rate from 35%to 20% could
-
Move Over Butler, Kentucky, UConn & VCU: The Tax Final Four
Robert G. Nassau (Syracuse) has published April Madness: The Final Four, 130 Tax Notes 1613 (Mar. 28, 2011): [T]he [Tax] Final Four is set: health insurance versus standard deduction in the early game, followed by capital gains and the EITC [click on bracket to enlarge]. See also Tax Homage to the Big Dance: Fill Out Your
-
Weisbach & Gale: The Regulation of Tax Advice and Advisers
David Weisbach (Chicago) & Brian Gale (Sidley Austin, Chicago) have published The Regulation of Tax Advice and Tax Advisors, 130 Tax Notes 1279 (Mar. 14, 2011). Here is the abstract: The rules governing tax advice have been dramatically revised and extended in the last decade. They now have a level of complexity similar to that typically found
-
Zelenak: Tax Scholarship — Useful and Useless
Lawrence Zelenak (Duke) has published Tax Scholarship: Useful and Useless, 130 Tax Notes 1337 (Mar. 14, 2011): In his article Academic Articles on Tax, 130 Tax Notes 1189 (Mar. 7, 2011), Jasper L. Cummings, Jr. claims that “from the viewpoint of the [tax] practitioners, judges and government lawyers . . . there is very little [scholarship by tax law professors]