Taxation & Estate Planning

Kwall: The Case for a Disposition Standard of Realization

Posted on March 01, 2010
Jeffrey L. Kwall (Loyola-Chicago) has posted When Should Asset Appreciation Be Taxed?: The Case for a Disposition Standard of Realization, 86 Ind. L.J. ___ (2010), on SSRN. Here is the abstract: The realization requirement is one of the most basic elements of the United States income tax...

Call for Proposals: Lawyer and Law Student Happiness

Posted on March 01, 2010
The AALS has issued a Call for Proposals for a 2011 AALS Program on Lawyer and Law Student Happiness: Beyond Humanizing: Can ? and Should ? Law Schools Strive to Graduate Happy Students? Students often enter law school with goals of helping others, improving peoples? lives, and making the world...

TaxProf Blog Weekend Roundup

Posted on March 01, 2010
Saturday: Mankiw: Spreading the Wealth Around: Reflections Inspired by Joe the Plumber Oddball Tax Deductions Former Maryland Dean Asked to Return $60k Paid for Summer Research; AG to Decide Propriety of $350k Paid for Untaken Sabbatical Taxation, Economic Efficiency, and the Dormant Commerce Clause in Davis The International and Comparative...

SOI Releases Winter 2010 SOI Bulletin

Posted on March 01, 2010
The IRS's Statistics of Income Division has released the Winter 2010 SOI Bulletin (Vol. 29, No. 3) with these six articles: Individual Income Tax Returns, Preliminary Data, 2008 (pp. 5-17), by Michael Parisi Individual Income Tax Rates and Shares, 2007 (pp...

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Bishop: The Low-Profit LLC (L3C)

Posted on March 01, 2010
Carter G. Bishop (Suffolk) has posted The Low-Profit LLC (L3C): Program Related Investment by Proxy or Perversion?, 32 U. Ark. Little Rock L. Rev. ___ (2010), on SSRN. Here is the abstract: Since 2008 several states have adopted or are considering statutory amendments permitting an LLC to become an L3C...

NLJ: Law Firms Breathe Sigh of Relief Over NALP Change on Recruiting

Posted on March 01, 2010
Following up on last week's post, NALP Bails on January Kick-Off Day for 2L Summer Associate Offers: National Law Journal, Firms Breathe Sigh of Relief Over NALP Change on Recruiting: In the end, a proposal to adopt a January kickoff date for law firm summer associate offers proved too controversial...

Navot: Taxation of Compensatory Stock Options Under Tax Treaties

Posted on March 01, 2010
Yuval Navot (Elieser Kaplan Law Offices, Tel Aviv) has posted Taxation of Compensatory Stock Options Under Tax Treaties, 126 Tax Notes 325 (Jan. 18, 2010), on SSRN. Here is the abstract: Tax treaties may not provide adequate protection against double taxation and double nontaxation of service providers? income from compensatory...

McMahon Presents U.K. Lessons for the U.S. in Eliminating the Marriage Penalty Today at Chase

Posted on March 01, 2010
Stephanie McMahon (Cincinnati) presents Tax Filing in the U.K.: A Guide for the U.S. When Eliminating the Marriage Penalty today at Northern Kentucky University-Chase College of Law as part its Faculty Development Series. Here is the abstract: The United States is one of the last remaining countries that use the...

ABA Tax Section Submits Comment Letters

Posted on February 28, 2010
The ABA Tax Section has submitted comment letters on: § 987 Foreign Currency Gains and Losses Proposed Regulations § 142(a)(6) Solid Waste Disposal Facilities Proposed Regulations § 104(a)(2) Exclusion for Physical Injuries or Sickness Proposed Regulations

NYSBA Tax Section Releases Tax Reports

Posted on February 28, 2010
The New York State Bar Association Tax Section has issued tax reports on: New York State Budget Revenue Proposals (No. 1206) New York State Budget Proposal to Modify Taxation of Resident Trusts (No. 1205) Estimated Tax Consequences of Roth IRAs (No. 1204)

Hitler's Article Is Rejected by the Stanford Law Review

Posted on February 28, 2010

Top 5 Tax Paper Downloads

Posted on February 28, 2010
The papers in week's list of the Top 5 Recent Tax Paper Downloads are the same as last week's, with some shifting within the #3 - #5 positions: 1. [360 Downloads] The Regulatory Systems for Employee Benefits, by Brian A. Benko (McDermott Will & Emery, Washington, D...

Today Is the Last Day to Make a Haiti Donation and Deduct It on Your 2009 Tax Return

Posted on February 28, 2010
Today is the last day to make a donation for Haiti earthquake relief and claim a charitable deduction on your 2009 tax return. See Notice 1396 and this IRS video: You can make online donations to groups such as Clinton Bush Haiti Fund, Red Cross, and World Vision.

Taxation, Economic Efficiency, and the Dormant Commerce Clause in Davis

Posted on February 27, 2010
Casey J. Jennings (J.D. 2010, North Carolina) has published Recent Development, To Form a More Perfect Union: Taxation, Economic Efficiency, and the Dormant Commerce Clause in Department of Revenue v. Davis, 88 N.C. L. Rev. 311 (2009). Here is part of the Introduction: In Part I, this Recent Development will...

The International and Comparative Tax War

Posted on February 27, 2010
Richard T. Page (J.D. 2010, Tulane) has published Comment, The International and Comparative Tax War: A Strategic Tax Cut Recommendation for the Obama Administration, 18 Tul. J. Int'l & Comp. L. 287 (2009): A. Purpose Statement: The purpose of this Comment is to answer three comparative tax policy questions...

Mankiw: Spreading the Wealth Around: Reflections Inspired by Joe the Plumber

Posted on February 27, 2010
N. Gregory Mankiw (Harvard University, Department of Economics) gives the Presidential Address today at Eastern Economic Association's 36th Annual Conference in Philadelphia on Spreading the Wealth Around: Reflections Inspired by Joe the Plumber: One of my favorite recent moments in political theater was when ?Joe the Plumber? posed a question...

Oddball Tax Deductions

Posted on February 27, 2010
Kiplinger, Oddball Tax Deductions: [O]ver the years your fellow taxpayers have successfully claimed write-offs for many crazy things that most of us wouldn't even dream of taking. Here's our list of what we think are the strangest deductions allowed, ranging from cat food to a casualty loss for a vehicle...

Former Maryland Dean Asked to Return $60k Paid for Summer Research; AG to Decide Propriety of $350k Paid for Untaken Sabbatical

Posted on February 27, 2010
Following up on my post this week on the controversy surrounding a state audit report flagging "questionable compensation payments" to Maryland Dean Karen Rothenberg: university officials have asked Dean Rothenberg to return $60,000 paid as four summer research grants, and have asked the state attorney general whether the Dean can...

Columbia Journal of Tax Law Publishes Inaugural Issue

Posted on February 26, 2010
The Columbia Journal of Tax Law has published its inaugural issue: Karen C. Burke (San Diego), The Sound and Fury of Carried Interest Reform, 1 Colum. J. Tax L. 1 (2010): "Of all the proposals advanced in recent years to reform Subchapter K, the part of the Internal Revenue Code...

Hastings Constitutional Law Quarterly Hosts Symposium Today on California's Fiscal Constitution

Posted on February 26, 2010
The Hastings Constitutional Law Quarterly hosts its 37th Annual Symposium today on Waking from the California Dream: The Past, Present, and Future of California's Fiscal Constitution: Keynote: Robert M. Hertzberg (Leadership Council Co-Chair, California Forward) Panel #1: The Legal and Political Origins of the State's Current Fiscal Crisis Michelle W...

CBO: Reducing Inflation Adjustments in the Tax Code

Posted on February 26, 2010
The Congressional Budget Office has released Using a Different Measure of Inflation for Indexing Federal Programs and the Tax Code: Many federal programs and parts of the tax code are currently indexed to increases in the consumer price index (CPI), a measure of inflation calculated by the Bureau of Labor...

Joint Tax Committee Scores President Obama's Health Care Tax Increase at $412.2 Billion

Posted on February 26, 2010
The Joint Committee on Taxation has released a revenue estimate of President Obama's proposed tax increases in his health care plan -- pegging the cost at $412.2 billion over the 2010-19 period.

Grade Delays at Texas, William & Mary

Posted on February 26, 2010
Above the Law chronicles lenghty delays in getting law school grades to students at Texas and William & Mary, and concludes: I understand that law professors would rather drink wine straight from the box than grade a paper. It?s an onerous responsibility...

NALP Bails on January Kick-Off Day for 2L Summer Associate Offers

Posted on February 26, 2010
The American Lawyer, NALP Backs Down From Offer Prohibition Plan: The National Association for Law Placement has released revised guidelines for summer associate recruiting, and the organization has backed away from recommendations to adopt a system that would have banned firms from making any offers before mid-January...

McLaughlin & Weeks: Conservation Easements and the Charitable Trust Doctrine

Posted on February 26, 2010
Nancy A. McLaughlin (Utah) & W. William Weeks (Indiana-Bloomington) have published Hicks v. Dowd, Conservation Easements, and the Charitable Trust Doctrine: Setting the Record Straight, 10 Wyoming L. Rev. 73 (2010). Here is the abstract: This is the fourth in an exchange of articles published by the Wyoming Law Review...

Rostain Presents Lawyers, Accountants and the Tax Shelter Industry Today at San Diego

Posted on February 26, 2010
Tanina Rostain (New York Law School) presents a chapter of her forthcoming book, Confidence Games: Lawyers, Accountants and the Tax Shelter Industry (MIT Press, 2011) (with Milton C. Regan (Georgetown)), at San Diego today as part of its Tax Law Speaker Series hosted by Karen Burke: The book describes the...

More on the Wyden, Gregg Bipartisan Tax Reform Bill

Posted on February 26, 2010
Following up on my prior posts (here and here) on the Wyden, Gregg Bipartisan Tax Reform Bill: The Atlantic, What Real Tax Reform Looks Like The Committee for a Responsible Federal Budget, Wyden and Gregg to the Rescue Forbes, How To Clean Up The Tax Code: Does Wyden-Gregg Point the...

Treasury Department Issues FBAR Proposed Regs

Posted on February 26, 2010
The Treasury Department's Financial Crimes Enforcement Network (FinCEN today issued proposed regulations under the Bank Secrecy Act regarding reports of foreign financial accounts (FBARs). Proposed Regulations Announcement 2010-16 temporarily suspends non-U...

Tax Dodgers: L.A. Owners Earned $108m, Paid $0 Tax

Posted on February 25, 2010
An interesting tidbit has emerged in the high-profile divorce of the owners of the Los Angeles Dodgers: Frank and Jamie McCourt earned $108 million from 2004-2009 and paid zero federal and California income taxes. L.A. Times, Tax Men Strike Out Against McCourts L...

SSRN Tax Professor Rankings

Posted on February 25, 2010
SSRN has updated its monthly rankings of 629 American and international law school faculties and 1,500 law professors by (among other things) the number of paper downloads from the SSRN data base. Here is the new list (through February 18, 2010) of the Top 25 U...

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