Taxation & Estate Planning

Infanti:

Posted on March 24, 2010
Anthony C. Infanti (Pittsburgh) has posted Dissecting O'Donnabhain, 126 Tax Notes 1403 (Mar. 15, 2010), on SSRN. Here is the abtsract: In O'Donnabhain v. Commissioner [134 T.C. No. 4 (Feb. 2, 2010)], a sharply divided Tax Court allowed a medical expense deduction for some costs related to sex reassignment surgery...

Koppel: Is the Tax Power Infinite?

Posted on March 24, 2010
Dave Koppel (The Volokh Conspiracy), Is the Tax Power Infinite?: For the moment, let?s put aside the question of whether the Obamacare tax is an Article I tax, or a 16th Amendment income tax. Does Congress have the infinite power to control people?s behavior (such as by ordering them to...

Federal Circuit Affirms Gov't Victory in Son of BOSS Tax Shelter Case

Posted on March 24, 2010
Following up on my prior post, Government Wins First Son of BOSS Case to be Tried (Dec. 27, 2007): the Federal Circuit yesterday upheld the Court of Federal Claims decision in a Son of BOSS (bond option sales strategy) case that Jade Trading's $450,000 investment that generated more than $40...

Zelinsky: Tax Incentives for Economic Development

Posted on March 24, 2010
Edward A. Zelinsky (Cardozo) has published Tax Incentives for Economic Development: Personal (and Pessimistic) Reflections, 58 Case W. Res. L. Rev. 1145 (2008). Here is the Introduction: The topic of this essay?state and local tax incentives for economic development?is a deeply personal subject for me...

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Johnson Posts Shelf Project Papers on SSRN

Posted on March 24, 2010
Calvin H. Johnson (Texas) has posted several of his Shelf Project tax papers on SSRN: ?Contributions to Capital? from Nonowners, 126 Tax Notes 1127 (Mar 1, 2010) Gains and Losses on Business Depreciable Property, 126 Tax Notes 787 (Feb. 8, 2010) Two Years of the Shelf Project, 126 Tax Notes...

Tax Man Piles on Jesse James

Posted on March 24, 2010
As if Jesse James, owner of West Coast Choppers (and husband of Oscar award winner Sandra Bullock), did not have enough trouble after press reports surfaced of his affair with a tattoo model (and alleged white supremacist): California tax authorities have filed a $3,918 tax lien against Mr...

Coverdale: How Congress Regulates Tax-Exempt Organizations in Ignorance

Posted on March 24, 2010
John F. Coverdale (Seton Hall) has published Legislating in the Dark: How Congress Regulates Tax-Exempt Organizations in Ignorance, 44 U. Rich. L. Rev. 809 (2010). Here is part of the Introduction: Part II introduces donor-advised funds and briefly summarizes their history...

Pressure Builds for a Value-Added Tax

Posted on March 24, 2010
Albert R. Hunt (Bloomberg), All Fiscal Roads Lead U.S. to a Value-Added Tax Derek Thompson (The Atlantic), VAT: Now There's a Good Idea Fareed Zakaria (CNN), Value of a Value-Added Tax

Mehrotra: War, Taxes, and the Politics of Fiscal Citizenship

Posted on March 24, 2010
Ajay K. Mehrotra (Indiana-Bloomington) has published The Price of Conflict: War, Taxes, and the Politics of Fiscal Citizenship, 108 Mich. L. Rev. 1053 (2010). Here is the abstract: Since 2003 American political leaders and lawmakers have been committed to the simultaneous pursuit of tax cuts and military excursions abroad...

7th Circuit Denies WellPoint Deduction for $115m Paid to Settle State Lawsuits Over Acquisition of Health Insurance Companies

Posted on March 24, 2010
The Seventh Circuit yesterday affirmed the Tax Court (T.C. Memo. 2008-236 (Oct. 27, 2008)) in denying a current deduction to WellPoint for $113,837,500 paid to settle lawsuits brought by Connecticut, Kentucky, and Ohio challenging its acquisition of Blue Cross Blue Shield insurance companies in those states, as well as $827,595...

Sweet Sixteen of Tough Graders

Posted on March 23, 2010
"A" The Hard Way, 2010: GradeInflation.com's Sweet Sixteen of Tough Graders: March Madness is upon us. Last year at this time, GradeInflation.com came up with a Sweet Sixteen of grade inflaters. As the graph above shows, grade inflation is pervasive in academia...

9th Circuit Reverses Itself, Affirms Tax Court in Xilinx Transfer Pricing Case

Posted on March 23, 2010
The 9th Circuit yesterday reversed itself and affirmed the Tax Court in the Xilinx transfer pricing case. Xilinx v. Commissioner, No. 06-74246 (9th Cir. Mar. 22, 2010). From Susan Morse (Santa Clara): The Xilinx litigation deals with the treatment of stock option costs in cost sharing arrangements before those regs...

Call for Papers: The Federalization of Nonprofit and Charity Law

Posted on March 23, 2010
The AALS Section on Nonprofit & Philanthropy Law has issued a Call for Papers on The Federalization of Nonprofit and Charity Law to be presented at the 2011 AALS Annual Meeting in San Francisco on January 4-8, 2011: Except with respect to eligibility for exemption from the federal income tax,...

New Issue of Journal of Legal Education

Posted on March 23, 2010
Articles of interest in Vol. 59, No. 3, Journal of Legal Education (Feb. 2010): David Chang, Joanne M. Ingham & Donald H. Zeigler (all of New York Law School), Curriculum Design and Bar Passage: New York Law School's Experience, 59 J. Legal Educ. 393 (2010) Lucinda Jesson (Hamline), So You...

Joint Tax Committee

Posted on March 23, 2010
The Joint Committee on Taxation today released A Description of the Revenue Provisions Added or Modified by the Manager?s Amendment to H.R. 4849 (JCX-21-10): The manager?s amendment modifies section 306 of H.R. 4849, relating to the availability of collection due process rights with respect to levies for tax liabilities of...

Anand Presents Is Systemic Risk Relevant to Securities Regulation?

Posted on March 23, 2010
Anita I. Anand (University of Toronto, Faculty of Law) presents Is Systemic Risk Relevant to Securities Regulation? at the University of Toronto today as part of the James Hausman Tax Law and Policy Workshop Series. Here is the part of the Introduction: [T]his article asks whether securities regulators should have...

Accounting Doctoral Program Rankings Based on Research Productivity of Program Graduates

Posted on March 23, 2010
Nathaniel M. Stephens (Utah State University, Jon M. Huntsman School of Business), Scott L. Summers (Brigham Young University, School of Accountancy), Brady Williams (Brigham Young University, School of Accountancy) & David A. Wood (Brigham Young University, School of Accountancy) have posted Accounting Doctoral Program Rankings Based on Research Productivity of...

Woman Tries to Bribe IRS Agent With $100 Starbucks Gift Card

Posted on March 23, 2010
Kim Oahn Thi Tran (Jennifer Kim Tran) has been charged in the U.S. District Court in San Franciscowith trying to bribe IRS agent Imad Hararah with $2,000 and a $100 Starbucks gift card after an IRS audit indicated that she owed over $13,000 in taxes on unreported income in 2006...

Blank & Levin: Tax Enforcement Publicity Peaks April 1-15

Posted on March 23, 2010
Joshua D. Blank (NYU) & Daniel Z. Levin (Rutgers Business School) have posted When Is Tax Enforcement Publicized?, 30 Va. Tax Rev. __ (2010), on SSRN. Here is the abstract: Every spring, the federal government appears to deliver an abundance of announcements that describe criminal convictions and civil injunctions involving...

IRS Releases 2010 Filing Season Stats

Posted on March 23, 2010
The IRS today released preliminary 2010 filing season statistics (IR-2010-35): 2010 FILING SEASON STATISTICS Cumulative through the weeks ending 03/13/09 and 03/12/10 Individual Income Tax Returns 2009 2010 % Change Total Receipts 70,807,000 68,743,000 -2...

Tax Stories in Paradise

Posted on March 22, 2010
I am thrilled to be spending Cincinnati's spring break in Mailbu, California, teaching a one-week course based on our Tax Stories book, Selected Advanced Topics in Federal Income Taxation, at Pepperdine University School of Law. I have long been a fan of Pepperdine, its faculty, and its distinctive mission in...

Joint Tax Committee on the House Health Care Bill

Posted on March 22, 2010
The Joint Committee on Taxation released two documents on the health care bill approved 219-212 yesterday by the House: Technical Explanation of the Revenue Provisions (JCX-18-10) Estimated Revenue Effects (JCX-17-10)

Lederman: W(h)ither Economic Substance?

Posted on March 22, 2010
Leandra Lederman (Indiana) has published W(h)ither Economic Substance?, 95 Iowa L. Rev. 389 (2010). Here is the abstract: Transactions that claim inappropriate tax benefits are a perennial problem. When the IRS claims a transaction is abusive, courts generally examine whether the taxpayer had a business purpose and whether the transaction...

Breitstone: Carried Interest Bill -- Impact on Real Estate Partnerships

Posted on March 22, 2010
Stephen M. Breitstone (Meltzer, Lippe, Goldstein & Breitstone, Mineola, NY) has published Carried Interest Bill -- Impact on Real Estate Partnerships, 126 Tax Notes 1219 (Mar. 6, 2010). Here is the abstract: This article discusses the practical impact of carried interest legislation on real estate partnerships if enacted in the...

TaxProf Blog Weekend Roundup

Posted on March 22, 2010
Saturday: David Hasen Leaves Penn State for Santa Clara AALS, ABA, SALT Support UC-Hastings Over CLS in Supreme Court Case The Strict Liability Penalty Standard in Noneconomic Substance Transactions The Constitutionality of the Texas Margin Tax Sunday: Top 5 Tax Paper Downloads IRS Invites Taxpayers to Apply for Membership on...

Sarah Lawsky Leaves GW for UC-Irvine

Posted on March 22, 2010
Sarah Lawsky (George Washington; visiting at Virginia) has accepted a position at the new law school at UC-Irvine. From Sarah's GW website: Professor Lawsky joined the GW Law School faculty in 2007. She teaches and writes in the area of taxation. Before entering academia, she worked at the law firm...

Bloomberg: New Health Care Taxes Help Obama ?Spread the Wealth Around?

Posted on March 22, 2010
Bloomberg, New Taxes for Health Care Help Obama ?Spread the Wealth Around?, by Ryan J. Donmoyer: President Barack Obama said on the campaign trail in October 2008 that he wanted to ?spread the wealth around.? With Obama on the verge of signing sweeping health-care overhaul legislation, he?s about to do...

Johnson: The Story of Bob Jones University

Posted on March 22, 2010
Olatunde C. Johnson (Columbia) has posted The Story of Bob Jones University v. United States: Race, Religion, and Congress? Extraordinary Acquiescence, in Statutory Interpretation Stories (William Eskridge & Elizabeth Garrett, eds.) (Foundation Press, 2010), on SSRN...

Joint Tax Committee Releases The 2010 and 2011 Tax Law

Posted on March 22, 2010
The Joint Committee on Taxation today released Present Law and Background Data Related to the Federal Tax System in Effect for 2010 And 2011 (JCX-19-10), in advance of tomorrow's House Ways & Means Committee hearing on Taxes and the Budget: The current Federal tax system has four main elements: (1)...

Joe Biden's Tax Tips

Posted on March 22, 2010
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