Taxation & Estate Planning

Galle: The Role of Charity in a Federal System

Posted on September 29, 2009
Brian D. Galle (Florida State) has posted Foundation or Empire? The Role of Charity in a Federal System. Here is the abstract: This Article critiques the prevailing justification for subsidies for the charitable sector, and suggests a new alternative...

NYSBA Releases Tax Reports

Posted on September 29, 2009
The New York State Bar Association Tax Section has issued tax reports on: Qualified Intermediary and Related Withholding and Information Reporting Legislation Proposed by the Administration (No. 1089) Proposed Modifications to § 6662 Penalty in America's Affordable Health Choices Act of 2009 (No...

Lefcoe: Curbing TIF-Driven Economic Development After Kelo

Posted on September 29, 2009
George Lefcoe (USC) has posted After Kelo, Curbing Opportunistic TIF-Driven Economic Development: Forgoing Ineffectual Blight Tests, Empowering Property Owners and School Districts, 83 Tul. L. Rev. 1 (2008), on SSRN. Here is the abstract: When economic development or urban redevelopment is funded by tax increment financing (TIF), local government officials,...

Davis Polk Publishes Financial Crisis Manual

Posted on September 28, 2009
Davis Polk (New York) has published a free, 279-page Financial Crisis Manual: The Financial Crisis Manual is a comprehensive review of financial crisis laws as they apply to US financial institutions, covering the major Federal Reserve programs, Treasury's capital investments and warrants, the FDIC's debt guarantees, the public-private investment program,...

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Kahn: Sotomayor Was Wrong in Rudkin Testamentary Trust/Knight

Posted on September 28, 2009
Douglas A. Kahn (Michigan) has posted Rudkin Testamentary Trust -- A Response to Prof. Cohen, 124 Tax Notes 1263 (Sept. 21, 2009), on SSRN. Here is the abstract: In the August 3 issue of Tax Notes, Professor Stephen Cohen [Georgetown)] wrote an article about Justice Sonia Sotomayor?s opinions in three...

CTJ: Six Progressive Tax Options to Finance Health Care Reform

Posted on September 28, 2009
Citizens for Tax Justice has released Review and Comparison of Six Progressive Options to Finance Health Care Reform: This report compares the revenue impact and distributional effects of six progressive revenue measures that have been discussed by members of Congress in recent months as options for financing health care reform...

Gerzog: Miller -- Effective FLP Line Drawing

Posted on September 28, 2009
Wendy C. Gerzog (Baltimore) has posted Miller: Effective FLP Line Drawing, 124 Tax Notes 1273 (Sept. 21, 2009), on SSRN. Here is the abstract: Miller [Estate of Miller v. Commissioner, T.C. Memo. 2009-119] is a decision on family limited partnerships (FLPs) with effective line drawing...

Call for Tax Papers: Michigan Law Review

Posted on September 28, 2009
The Michigan Law Review has relaunched its website and created a new format for its online companion, First Impressions. First Impressions no longer publishes in symposium format, and instead accepts submissions of essays on timely legal topics and responses to articles published in the printed journal...

TaxProf Blog Weekend Roundup

Posted on September 28, 2009
Saturday: IRS Denies Deduction for Homes Donated to Fire Departments and Burned Down CBO: Changes in Federal Revenues and Tax Rates on Capital Gains ABA Tax Section Fall Meeting Nonprofits: Are You at Risk of Losing Your Tax-Exempt Status? Sunday: Top 5 Tax Paper Downloads Bartlett: Fiscal Responsibility Requires Higher...

Tax Lawyers Sued for Botched Tax Shelter

Posted on September 28, 2009
National Law Journal, First Client Files Suit, Now Insurer Says No: Tax lawyers Jonathon Moore and Charles Bruce already had their hands full defending themselves from allegations that they botched a client's matter, resulting in millions of dollars in IRS back taxes and penalties...

The Next Federal Bailout: 'Great' Public Universities?

Posted on September 28, 2009
Robert J. Birgeneau and Frank D. Yeary, the Chancellor and Vice Chancellor of the University of California at Berkeley, published an op-ed in Sunday's Washington Post calling for a federal bailout of "great" public universities, Rescuing Our Public Universities: Almost 150 years ago, in an effort to better serve a...

Halperin Pubishes 2009 Erwin N. Griswold Lecture

Posted on September 28, 2009
Daniel Halperin (Harvard) has published 2009 Erwin N. Griswold Lecture Before the American College of Tax Counsel: Rethinking the Advantage of Tax Deferral, 62 Tax Law. 535 (2009). Here is part of the Introduction: It has been more than ten years since I last spoke to a group of tax...

Criminal Tax Violations

Posted on September 27, 2009
Suneel J. Nelson & Rollo C. Baker have published Tax Violations, 46 Am. Crim. L. Rev. 1099 (2009). Here is the Introduction: This Article outlines the elements, defenses, and sentencing consequences of various criminal tax violations under the I.R.C. §§ 7201, 7202, 7203, 7206, and 7212(a)...

Fleming Posts Tax Papers on SSRN

Posted on September 27, 2009
J. Clifton Fleming, Jr. (BYU) has posted several of his tax papers on SSRN: Some Perspectives from the United States on the Worldwide Taxation vs. Territorial Taxation Debate, 3 J. Australasian Tax Teachers Ass'n 35 (2008) (with Robert J. Peroni (Texas) & Stephen E...

Top 5 Tax Paper Downloads

Posted on September 27, 2009
There is a bit of movement in this week's list of the Top 5 Recent Tax Paper Downloads, with a new #1 paper and a new paper debuting on the list at #5: 1. [322 Downloads] A Tale of Two Codes: An Empirical Analysis of the Jurisprudence of the United...

Bartlett: Fiscal Responsibility Requires Higher Taxes

Posted on September 27, 2009
Forbes: Fiscal Responsibility Requires Higher Taxes, by Bruce Bartlett: Throughout most of our nation's history, political conservatives really only had one thing in common: They all believed in a balanced federal budget. They might disagree on religion, foreign policy and any number of other issues, but everyone who thought of...

ABA Tax Section Fall Meeting

Posted on September 26, 2009
The three-day ABA Tax Section Fall Meeting concludes today in Chicago. The full program is here; Tax Profs with speaking roles today include: Low Income Taxpayers -- Keith Fogg (Villanova), Kathryn Sedo (Minnesota), George Willis (Chapman) Luncheon Plenary Session: IRS Regulation of Tax Return Preparers -- Les Book (Villanova) Representing...

Nonprofits: Are You at Risk of Losing Your Tax-Exempt Status?

Posted on September 26, 2009
Gina M. Lavarda (J.D. 2010, Iowa) has published Note, Nonprofits: Are You at Risk of Losing Your Tax-Exempt Status?, 94 Iowa L. Rev. 1473 (2009). Here is the abstract: In 2004, the IRS studied 110 § 501(c)(3) organizations and found that seventy-five percent of them had violated federal tax law...

IRS Denies Deduction for Homes Donated to Fire Departments and Burned Down

Posted on September 26, 2009
Following up on my prior post, IRS Burns Kirk Herbstreit's Donation of Home to Fire Department: the Associated Press picks up on the story in Burning Down the House? IRS Nixes Tax Deductions: Lured by the prospect of free demolition, homeowners around the country sometimes offer their houses to the...

CBO: Changes in Federal Revenues and Tax Rates on Capital Gains

Posted on September 26, 2009
The Congressional Budget Office yesterday released a letter on Changes in Federal Revenues and Tax Rates on Capital Gains: As a result of the economic downturn, CBO expects revenues from individual and corporate income taxes in 2009 to account for about 50% of total revenue, below the average of about...

President Obama Wants Your Tax Reform Ideas

Posted on September 25, 2009
The White House yesterday invited the public to submit tax reform ideas to President Obama's tax reform panel: President Obama has asked the President's Economic Recovery Advisory Board (PERAB) to develop options for tax reform. The members of the tax subcommittee are preparing ideas to be considered by the board...

IRS Issues Temporary Regs Applying 6-Year SOL to Overstatement of Basis

Posted on September 25, 2009
The Treasury Depatment yesterday issued temporary regulations (T.D. 9466) defining an omission from gross income for purposes of the six-year limitations period for assessing tax attributable to partnership items, taking a position contrary to that of the Federal Circuit and Ninth Circuit that an overstatement of basis results in an...

Stetson Seeks to Hire a Tax VAP

Posted on September 25, 2009
Stetson University College of Law seeks to hire two visiting assistant professors among several subject areas, including tax: The program, named in honor of Dean Emeritus Bruce R. Jacob, is designed for individuals who seek the opportunity to enter academia by gaining full-time teaching experience and developing their scholarly agenda...

ABA Tax Section Fall Meeting

Posted on September 25, 2009
The three-day ABA Tax Section Fall Meeting continues today in Chicago. The full program is here; Tax Profs with speaking roles today include: Affiliated & Related Corporations -- Don Leatherman (Tennessee) Employee Benefits Distributions Update -- Kathryn Kennedy (John Marshall) Exempt Organizations Subcommittee on Political and Lobbying Organizations and Activities...

BBC: Curvy Students 'Perk of the Job'

Posted on September 25, 2009
BBC, Curvy Students "Perk of the Job," by Katherine Sellgren: Terence Kealey, of the University of Buckingham, said lecturers were aware of females who "flaunted their curves". In a tongue-in-cheek article for Times Higher Education Magazine on the seven deadly sins of the academy, he advised academics to "look but...

Senate Committee

Posted on September 25, 2009
The Senate Finance Committee staff issued a devasting critique of ACORN, alleging that the organization funneled money from its tax-exempt entities into impermissible lobbying and political activity. Staff Memo Sen. Grassley Letter to IRS Sen. Grassley Letter to Office of Personnel Management ACORN's Non-Exempt Entities ACORN?s Tax-Exempt Entities (1 of...

Nothwestern Private Equity Symposium

Posted on September 25, 2009
The Northwestern Journal of International Law & Business has published a symposium issue on The Globalization of Private Equity: Changes in the International Market and the Impact on Private Equity Investments (29 Nw. J. Int'l L. & Bus. 601 (2009)), with three tax articles: Darryll K Jones, Sophistry, Situational Ethics,...

Knoll: The Tax Advantages and Disadvantages of S ESOPs

Posted on September 25, 2009
Michael S. Knoll (Penn) has published Samuel Zell, the Chicago Tribune, and the Emergence of the S ESOP: Understanding the Tax Advantages and Disadvantages of S ESOPs, 70 Ohio St. L.J. 519 (2009). Here is the abstract: Samuel Zell's acquisition of the Chicago Tribune in December 2007 using a little-known...

Kaplan: To Roth or Not to Roth

Posted on September 24, 2009
Richard J. Kaplan (Illinois) has posted To Roth or Not to Roth: Analyzing the Conversion Opportunity for 2010 and Beyond, BNA Daily Tax Report, Vol. 9, No. 181 (Sept. 22, 2009), on SSRN. Here is the abstract: Beginning in 2010, all taxpayers will be able to convert their existing Individual...

'Girls Gone Wild' Founder Joe Francis Cops Tax Plea

Posted on September 24, 2009
Girls Gone Wild founder Joe Francis plead guilty yesterday to two misdemeanor counts of filing false tax returns (and one count of bribing Nevada jail workers in exchange for food). The plea agreement calls for Francis to pay $250,000 in restitution and receive credit for jail time served...

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