Paul L. Caron
Dean
Pepperdine Caruso
School of Law
Tax Analysts
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Tax Homage to the Big Dance: Fill Out Your Tax Code Bracket
Robert G. Nassau (Syracuse) has published April Madness, 130 Tax Notes 1351 (Mar. 14, 2011): [T]here has never been a bracket of IRS sections, at least not until now. In an effort to remedy that glaring bracketology lacuna, I have taken it upon myself to select 64 (no play-in games for the code) of the finest, taxpayer-friendly
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Cummings: Academic Articles on Tax
Jasper L. Cummings, Jr. (Alston & Bird, Raleigh, NC) has published Academic Articles on Tax, 130 Tax Notes 1189 (Mar. 7, 2011): The number of academic articles on tax has been declining sharply for the last 40 years, and those that do appear tend to be more theoretical than useful. However, gems remain, and the author welcomes
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Sullivan: The Rich Get 100 Times More Mortgage Subsidy Than the Poor
Martin A. Sullivan (Tax Analysts) has published The Rich Get 100 Times More Mortgage Subsidy Than the Poor, 130 Tax Notes 1110 (Mar. 7, 2011): Beverly Hills is home to the stars. Clarksdale, Miss., is home to the blues. … Beverly Hills 90210 and Clarksdale 38614 both have a population a little above 20,000. But that’s where
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Listokin: Tax Inclusive, Tax Exclusive, and Tax Bases
Yair Listokin (Yale) has published Tax Inclusive, Tax Exclusive, and Tax Bases, 130 Tax Notes 1065 (Feb. 28, 2011): Some taxes, most notably FICA, use a base that is neither tax inclusive nor tax exclusive. This article provides formulas for expressing tax rates on hybrid tax bases in tax-inclusive and tax-exclusive terms, and demonstrates that obligations under the
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The VAT Reader: What a Federal Consumption Tax Would Mean for America
Tax Analysts today published The VAT Reader: What a Federal Consumption Tax Would Mean for America. The 352-page book is free, avaialable in both pdf and hard copy. The contributors are: Martin A. Sullivan, Introduction: Getting Acquainted With VAT (p.7) Kathryn James, Exploring the Origins and Global Rise of VAT (p.15) Sijbren Cnossen, A VAT Primer for Lawyers,
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Sullivan: Passthroughs Shrink the Corporate Tax by $140 Billion/Year
Following up on last week’s post, Geithner: End Pass-Through Treatment of LLCs, Partnerships & S Corps (Feb. 25, 2011): Martin A. Sullivan (Tax Analysts) has published Passthroughs Shrink the Corporate Tax by $140 Billion, 130 Tax Notes 987 (Feb. 28, 2011): Over the past three decades, the number and the importance of passthrough entities have grown enormously,
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Wood: Taxing Prisoners Freed From Wrongful Convictions
Robert W. Wood (Wood & Porter, San Francisco) has published Tax-Free Wrongful Imprisonment Recoveries,130 Tax Notes 961 (Feb. 21, 2011): Although wrongful incarceration and similar recoveries are becoming common and can proceed under several different legal theories, their tax treatment has received relatively little attention. In ILM 201045023, the IRS treated a recovery as excludable from
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Bogdanski: Retained Interests and Estate of Stewart
John A. Bogdanski (Lewis & Clark) has published Upstairs, Downstairs: Retained Interests and Estate of Stewart,130 Tax Notes 911 (Feb. 21, 2011): Section 2036(a) hauls back into a decedent’s gross estate, for federal estate tax purposes, property that she gave away while alive, if the decedent retained at death the income from the property or the right to
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Janitors in Helmsley Building Pay Higher Tax Rates Than Millionaire Residents
Martin A. Sullivan (Tax Analysts) has published At the Helmsley Building, the Little People Pay the Taxes, 130 Tax Notes 855 (Feb. 21, 2011): Martin A. Sullivan looks at IRS Statistics of Income Division data showing that the effective tax rate for filers listing the Helmsley building as their address is less than 15% [click on charts
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McMahon: Taxing Tax Expenditures?
Martin J. McMahon Jr. (Florida) has published Taxing Tax Expenditures?, 130 Tax Notes 775 (Feb. 14, 2011): This report is a chapter from a coming book, The Proper Tax Base; Structural Fairness From an International and Comparative Perspective: Essays in Honor of Paul McDaniel, edited by Yariv Brauner and Martin J. McMahon Jr. After briefly recounting the historical
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Sullivan: Winners and Losers in Corporate Tax Reform
Martin A. Sullivan (Tax Analysts) has published Winners and Losers in Corporate Tax Reform, 130 Tax Notes 731 (Feb. 14, 2011): Martin A. Sullivan looks at which industries would benefit the most from corporate tax reform if rates were cut but tax expenditures were curtailed. [Click on chart to enlarge.] All Tax Analysts content is
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Johnston: Obama/GOP Tax Policy Stiffs the Working Poor
David Cay Johnston has published Obama and the GOP: United Against the Working Poor,130 Tax Notes 837 (Feb. 14, 2011): In this article, Johnston asks what the December tax cut bill, which raised taxes on the working poor and cut them for high-income workers, tells us about the ‘‘no tax increase’’ promises of President Obama and Capitol
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Do Estate Planners Need to Find New Jobs?
Sam Young, Gift Tax Clawback a Myth, Practitioner Says, 2011 TNT 29-5 (Feb. 11, 2011): Under a mechanical application of the new estate tax statute, there will not be a clawback of gifts made at the current $5 million exclusion level if the exclusion level drops, according to Jerome M. Hesch of Carlton Fields. …
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Is the Economic Substance Doctrine: Unconstitutionally Vague?
Thomas A. Cullinan & Shane A. Lord (both of Sutherland Asbill & Brennan, Atlanta) have published Economic Substance Doctrine: Unconstitutionally Vague?, 130 Tax Notes 700 (Feb. 7, 2011): Cullinan and Lord discuss the uncertainty regarding when the IRS would apply the codified economic substance doctrine and whether it should be concerned that too much uncertainty is bad tax policy
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Thompson: An Imputation System for Taxing Foreign-Source Income
Samuel C. Thompson Jr. (Penn State) has published An Imputation System for Taxing Foreign-Source Income, 130 Tax Notes 567 (Jan. 31, 2011): This report is based in part on the analysis presented in Thompson’s Assessing the Following Systems for Taxing Foreign-Source Active Business Income: Deferral, Exemption, and Imputation, 53 How. L.J. 337 (2010). Congress should follow the original
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Johnston: Tax Refunds Via Debit Cards — A Victory for Taxpayers Over Bankers
David Cay Johnston has published Tax Refunds: More for Taxpayers, Less for Bankers,130 Tax Notes 591 (Jan. 31, 2011): This article examines the seeming benefits, and possible costs of issuing income tax refunds via debit cards and the cards’ place in the history of government aid to big business. All Tax Analysts content is available through the LexisNexis®
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Sullivan: The Mortgage Deduction Heavily Favors Blue States
Martin A. Sullivan (Tax Analysts) has published Mortgage Deduction Heavily Favors Blue States, 130 Tax Notes 364 (Jan. 24, 2011): The benefits of the mortgage interest deduction are not evenly distributed among the states. … [T]he per capita tax benefit from the mortgage interest deduction for Californians is more than two and a half times that
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Tax Analysts Conversations: Loyola-L.A.’s Tax LL.M. Faculty
Jeremiah Coder, Conversations: Loyola Law School’s Tax LLM Faculty,130 Tax Notes 286 (Jan. 17, 2011): As Loyola Law School in Los Angeles celebrates 10-plus years since beginning its graduate tax program, it is taking bold steps to offer educational programs it believes are responsive to changes in the legal market. Tax Notes contributing editor Jeremiah Coder recently
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Johnston: Making Tax Simple
David Cay Johnston has published Making Tax Simple,130 Tax Notes 347 (Jan. 17, 2011): Johnston examines the reforms proposed by National Taxpayer Advocate Nina Olson in her latest report to Congress. All Tax Analysts content is available through the LexisNexis® services.
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Sullivan: The Tea Party Will Determine Fate of Tax Reform
Martin A. Sullivan (Tax Analysts) has published The Fate of Tax Reform Depends on the Tea Party, 130 Tax Notes 143 (Jan. 10, 2010): A new day is dawning, and on Capitol Hill, conservatives must make a choice. Will they follow the easy path of politics as usual, or will they practice what they preach and
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Schumacher: The IRS’s Administrative Process in Innocent Spouse Cases
Scott Schumacher (U. Washington) has published Innocent Spouse, Administrative Process: Time for Reform,130 Tax Notes 113 (Jan. 3, 2011): This article examines the administrative process the IRS uses in innocent spouse cases. The author argues that the way the IRS reviews these cases, as well as the substantive rules that are applied, fails to address many of the
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Johnston: On the Dole, Corporate Style
David Cay Johnston has published On the Dole, Corporate Style,130 Tax Notes 123 (Jan. 3, 2011): Johnston examines a new book by political scientist Kenneth P. Thomas [Investment Incentives and the Global Competition for Capital (Palgrave Macmillan (Jan. 4, 2011))] and other subsidy documents, arguing that subsidies to companies are growing, adding to tax burdens while damaging the economy.
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2011 Tax Person of the Year
Tax Analysts today named its second annual person of the year: Heather Maloy, Commissioner, IRS Large Business and International Division Commissioner (Person of the Year, 130 Tax Notes 7 (Jan. 3, 2011)): 2010 was no ordinary year for taxpayers and practitioners. In fact, it might be called the year of tax administration. Enforcement was the theme
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Johnston: How History Can Inform the Tax Debate
David Cay Johnston has published Reasons, Rules, and Riots: Our Societal Panic,129 Tax Notes 1389 (Dec. 20, 2010): Johnston shows how lessons from history can inform our chaotic tax debate. All Tax Analysts content is available through the LexisNexis® services.
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Starbuck: The 2010-2011 Gift Tax Regime
David L. Starbuck (Baker Hostetler, Denver) has published Buyer Beware: Test-Driving the 2010-2011 Gift Tax Regime,129 Tax Notes 1231 (Dec. 13, 2010). Here is the abstract: Existing 2010 and 2011 estate, gift, and generationskipping transfer tax law has created an uncertain environment in which estate planning professionals must advise their clients. This article analyzes how these confusing rules