Taxation & Estate Planning

Former KPMG Tax Partner Pleads Guilty in Second Tax Shelter Case

Posted on September 24, 2009
Wall Street Journal: Ex-KPMG Tax Partner Pleads Guilty In Tax-Shelter Case, by Chad Bray: Former KPMG LLP tax partner Robert Pfaff pleaded guilty Wednesday to criminal charges in an alleged fraudulent tax-shelter scheme involving transactions in the U...

IRS Severs Ties With, and Files $2m in Liens Against, ACORN

Posted on September 24, 2009
The IRS has severed ties with ACORN, after several of its employees were caught on video giving advice to a couple posing as a prostitute and pimp. (ACORN in the the past has worked with various groups in providing tax assistance to the poor through the Volunteer Income Tax Assistance...

ABA Tax Section Fall Meeting

Posted on September 24, 2009
The three-day ABA Tax Section Fall Meeting kicks off today in Chicago. The full program is here; Tax Profs with speaking roles today include: Low Income Taxpayer Representation Workshop -- Keith Blair (Baltimore), Keith Fogg (Villanova), Paul Kphlhoff (Valparaiso), Diana Leyden (UConn), Kathhryn Sedo (Minnesota), Carlton Smith (Cardozo) Tax Bridge...

IRS Extends Suspension of Collection Enforcement for Listed Transactions of Small Businesses

Posted on September 24, 2009
The IRS sent a letter today to Senate Finance Committee Chairman Max Baucus announcing an extension of the suspension of collection enforcement efforts for some listed transactions through Dec. 31, 2009, as Congress works on legislation to even out penalties under § 6707A (enacted under the American Jobs Creation Act)...

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The 25 Most Dangerous Colleges in America

Posted on September 24, 2009
The Daily Beast: [H]ow do America?s colleges stack up against each other, safety-wise? Specifically, which schools have the worst crime records? For that determination, The Daily Beast decided to look at the numbers. Specifically, for the past two decades, most colleges and universities nationwide have been required under the federal...

Mr. Tax Law Writing Tax Evader

Posted on September 24, 2009
(Hat Tip: Russ Fox.) Prior TaxProf Blog coverage: WaPo Calls on Rangel to Resign (9/3/09) The Clock Is Ticking on Tax Cheat Charlie Rangel (9/1/09) More Tax Problems for Rep. Rangel (8/29/09) Morality and Charlie Rangel?s Taxes: It?s Much Easier to Raise Taxes If You Don?t Pay Them (7/27/09) "Rangel...

NY Times: The World Needs a New 'Tiny Tax'

Posted on September 24, 2009
New York Times, A Tiny Tax Could Do a World of Good, by Philippe Douste-Blazy: As leaders of the world?s largest economies gather today in Pittsburgh for the Group of 20 meeting, people in the world?s poorest countries will likely look on with a mix of hope and trepidation, wondering...

IRS Provides Guidance on Waiver of 2009 Required Distribution

Posted on September 24, 2009
The IRS provided guidance today on the waiver of 2009 required distributions from IRAs and pension plans: IR-2009-85 Notice 2009-82, 2009-41 I.R.B. ___ (Oct. 13, 2009)

Lee Sheppard Speaks Today at John Marshall

Posted on September 24, 2009
Lee Sheppard (Contributing Editor, Tax Analysts) speaks today at John Marshall's Center for Tax Law & Employee Benefits on Current Developments in Tax Law. Topics to be covered include work rpoduct production, the Arthur Young decision and the Textron decision.

Lawyer-Friendly iPhone Apps

Posted on September 24, 2009
In the October 2009 ABA Journal, 70 Sizzling Apps: Pump Up Your PC, PDA and smartphone With These Lawyer-Friendly Favorites, by G.M. Fillsko: Apps: It?s a little word for those mini-programs that can pay off big in productivity, knowledge or just plain fun...

What Are Law Schools Called?

Posted on September 24, 2009
Stan Chess breaks down the names of the 199 ABA-approved law schools: 112: School of Law 39: College of Law 37: Law School 8: Law Center 3: Law (Berkeley Law, Carolina Law, New England Law)

50 State Ranking of Median Real Estate Taxes Paid

Posted on September 23, 2009
The Tax Foundation has published New Census Data on Property Taxes on Homeowners, by Gerald Prante: Rank State Median Tax 1 New Jersey $6,320 2 Connecticut $4,603 3 New Hampshire $4,501 4 New York $3,622 5 Rhode Island $3,534 6 Massachusetts $3,406 7 Illinois $3,384 8 Vermont $3,281 9 Wisconsin...

Camp: Theory and Practice in Tax Administration

Posted on September 23, 2009
Bryan Camp (Texas Tech) has posted Theory and Practice in Tax Administration, 29 Va. Tax Rev. ___ (2009), on SSRN. Here is the abstract: This article concerns the history of automation in U.S. tax administration and the challenges automation presents to administering the laws consistent with democratic values...

TIGTA Re-releases Report Calling for IRS to Seek Mandatory e-Filing of Individual Tax Returns by Paid Preparers

Posted on September 23, 2009
Last week, I blogged the Treasury Inspector General for Tax Administration's release of New TIGTA Audit Encourages Mandatory e-Filing by Preparers (2009-40-130), which recommended that the IRS seek mandatory e-filing of individual tax returns prepared by paid preparers...

10th Annual Global Conference on Environmental Taxation Kicks Off Today

Posted on September 23, 2009
The three-day Tenth Annual Global Conference on Environmental Taxation kicks off today in Lisbon, Portugal. For a list of the speakers and their topics, see here.

Laffer: Tax Lessons From the Great Depression

Posted on September 23, 2009
Wall Street Journal op-ed,Taxes, Depression, and Our Current Troubles: Tariffs, Rising State and Federal Taxes, and Currency Devaluation Ruined the 1930s, and They Could Do the Same Today, by Athur B. Laffer: While Fed policy was undoubtedly important, it was not the primary cause of the Great Depression or the...

2010 State Business Tax Climate Index

Posted on September 23, 2009
The Tax Foundation has published its 2010 State Business Tax Climate Index, which ranks the fifty states according to five indices: corporate tax, individual income tax, sales tax, unemployment insurance tax, and property tax. Here are the ten states with the best and worst business tax climates: 1 South Dakota...

Galle & Klick: State Finance in Times of Crisis

Posted on September 23, 2009
Brian D. Galle (Florida State) & Jonathan Klick (Penn) have posted State Finance in Times of Crisis on SSRN. Here is the abstract: As recent events illustrate, state finances are pro-cyclical: during recessions, state revenues crash, worsening the effects of economic downturns...

Celebrity Tax News: Floyd Mayweather, Jim Thorpe

Posted on September 23, 2009
Boxer Floyd Mayweather Jr. agreed to pay $5.6 million in back taxes before the IRS would be able to seize the money from his $10 million purse after his Saturday fight against Juan Manuel Marquez. Associated Press Los Angeles Times New York Times Following up on my prior post, Golfer...

Austrian Tax Institute Seeks to Hire Research Associate

Posted on September 23, 2009
The Institute for Austrian and International Tax Law at the Vienna University of Economics and Business is looking to hire a Research Associate in the Special Research Program on International Tax Coordination: The start of the job can be individually agreed between November 2009 and January 2010, and will last...

Tax Preparers Help Families Get More College Financial Aid

Posted on September 23, 2009
Eric P. Bettinger (Stanford University, School of Education), Bridget Terry Long (Harvard Graduate School of Education), Philip Oreopoulos (University of Toronto, Department of Economics) & Lisa Sanbonmatsu (NBER) today released The Role of Simplification and Information in College Decisions: Results from the H&R Block FAFSA Experiment on NBER...

Caron: The Story of Murphy -- A New Front in the War on the Income Tax

Posted on September 22, 2009
I have posted my Tax Stories chapter, The Story of Murphy: A New Front in the War on the Income Tax, on SSRN. Here is the abstract: This chapter from the second edition of Tax Stories (Foundation Press) unpacks the D.C. Circuit?s stunning decision in Murphy v...

California Tax Plan Draws Fire

Posted on September 22, 2009
The California Commission on the 21st Century Economy has delayed the release of its final report until later this week. The commission reportedly will call for a new 4% business net receipts tax in exchange for elimination of the corporate income tax, elimination of the state portion of the sales...

Tax Court Amends its Rules

Posted on September 22, 2009
Chief Judge John O. Colvin has announced several amendments to the Tax Court's rules: Several of the amendments conform the Tax Court?s Rules more closely with selected procedures from the Federal Rules of Civil Procedure. In addition, the Court has amended Rule 202 (procedures applicable to disciplinary proceedings) and Rule...

Field: Checking in on 'Check-the-Box'

Posted on September 22, 2009
Heather M. Field (UC-Hastings) has published Checking in on "Check-the-Box," 42 Loy. L.A. L. Rev. 451 (2009). Here is the abstract: Twelve years ago, new regulations dramatically changed the manner in which the federal income tax system determines how business entities are taxed...

Smith: NFL Signing Bonuses and § 83

Posted on September 22, 2009
Andre L. Smith (Florida International) has published Do NFL Signing Bonuses Carry a Substantial Risk of Forfeiture within the Meaning of Section 83 of the Internal Revenue Code?, 19 Seton Hall J. Ent. & Sport L. 311 (2009). Here is the abstract: Imagine a recently graduated collegiate football superstar who...

Sloan: Zell Seeks $300m Tax Savings From 'Sale' of Chicago Cubs for $845m

Posted on September 22, 2009
Following up on my prior posts: Tax Breaks Fuel Sale of Chicago Cubs for $845m (9/17/09) Lawsky: The Tax Savings Behind the Sale of the Chicago Cubs for $845m (9/18/09) Lawsky: More on The Tax Savings Behind the Chicago Cubs Sale (9/21/09) Allan Sloan examines the tax implication of the...

How Ford Avoids the "Chicken Tax"

Posted on September 22, 2009
Front page story in today's Wall Street Journal, To Outfox the Chicken Tax, Ford Strips Its Own Vans; Logic Takes a Back Seat -- and Windows, as Auto Maker Plays Tariff Games, by Matthew Dolan: Several times a month, Transit Connect vans from a Ford Motor Co...

The "Prom Effect": Why Children Born in the Winter Fare Poorly in Life

Posted on September 22, 2009
Wall Street Journal, New Light on the Plight of Winter Babies: Researchers Stumble Upon Alternative Explanation for the Lifelong Challenges Faced by Children Born in Colder Months, by Justin Lahart: Children born in the winter months already have a few strikes against them...

Trailer for An Inconvenient Tax

Posted on September 22, 2009
I previously blogged the forthcoming documentary, An Inconvenient Tax. Here is the official trailer: The filmmakers have assembled a distinguished group of two dozen interviewees for the film, including Tax Profs Michael Graetz (Columbia) and Dan Shaviro (NYU).

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