Taxation & Estate Planning

"Don't Ask, Don't Tell" SAT Policy Results in Diversity Gains

Posted on March 27, 2009
Inside Higher Ed: The Impact of Dropping the SAT: A new research study -- based on simulations using actual student applications at competitive colleges that require the SAT or ACT for admission -- has found that ending the requirement would...

Tax Problems of AIG Employees Who Repay Their Bonuses

Posted on March 27, 2009
Wall Street Journal: Give Back That Bonus! Oh, and By the Way, You Still Owe Taxes on It: The good news is that the House bonus-confiscation bill specifically excludes "any amount if the employee irrevocably waives the employee's entitlement to...

Bartlett: Republican Tax Travesty

Posted on March 27, 2009
Forbes: Republican Tax Travesty, by Bruce Bartlett: On March 19, the House of Representatives voted to impose a 90% tax on the incomes of certain executives of financial institutions receiving federal funds. What was remarkable about this vote is that...

Brown Presents International Tax Policy and Developing Countries Today at San Diego

Posted on March 27, 2009
Karen B. Brown (George Washington) presents International Tax Policy and Developing Countries at San Diego today as part of its Tax Law Speakers Series moderated by Karen C. Burke.

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Washburn Hosts Tax Law Colloquium Today

Posted on March 27, 2009
Washburn hosts its annual Tax Law Colloquium today with these papers and commentators: Thomas W. Henning (Loyola-L.A.), How Court Holding Should Apply to Partnerships Commentators: Adam Rosenzweig, Joshua D. Blank Gregg Polsky (Florida State), Ruminations on the Substantiality Test Commentators:...

Manasfi Presents Foreign Hedge Fund Lending in the U.S. at Loyola-L.A.

Posted on March 27, 2009
Julie Manasfi (Loyola-L.A.) presented Taxing Foreign Persons Differently: The Case of Foreign Hedge Fund Lending in the United States at Loyola-L.A. yesterday as part of its Faculty Workshop Series.

Feld: The Shrunken Power of the Purse

Posted on March 27, 2009
Alan L. Feld (Boston University) has published The Shrunken Power of the Purse, 89 B.U. L. Rev. 101 (2009). Here is the abstract: The Constitution places control of the federal government's funds in the hands of Congress. This article examines...

Shores: The Continuity of Business Enterprise Requirement

Posted on March 27, 2009
David F. Shores (Wake Forest) has posted Continuity of Business Enterprise -- A Concept Whose Time Has Passed on SSRN. Here is the abstract: This article examines the origin and efficacy of the continuity of business enterprise requirement which must...

Cadwalader Tax Memo: The Manny Ramirez Tax

Posted on March 26, 2009
In a humorous jibe at the AIG bonus tax, Steven D. Lofchie, co-chair of Cadwalader's Financial Services Department, has posted a "Clients & Friends" tax memo on the firm's web site: The Manny Ramirez Lightbulb: Also (2 Ideas in 1...

Government Opposes Wesley Snipes' Motion to Leave U.S. for 5 Months Pending Appeal of Tax Conviction

Posted on March 26, 2009
I previously blogged the federal district judge's order granting actor Wesley Snipes' motion to travel overseas while the appeal of his conviction on three misdemeanor tax fraud counts is pending in the Eleventh Circuit. The order permitted Snipes to travel...

Senate Holds Hearing Today on Middle Income Tax Relief

Posted on March 26, 2009
The Senate Finance Committee holds a hearing today on The Middle Income Tax Relief Question: Extend, Modify, or Expire? Here are the witnesses scheduled to testify: Paul Taylor (Executive Vice President, Pew Research Center) George Yin (Edwin S. Cohen Distinguished...

Maryland Faculty Shoots Down Post-Tenure Review

Posted on March 26, 2009
Inside Higher Ed: Defeating Post-Tenure Review: Who reviews the performance of tenured faculty members? Can such reviews have teeth without interfering with the principles of tenure? Those issues are central to discussions of post-tenure review, a process that exists in...

ABA Tax Section Offers Webcast Today on Tax Issues of the Madoff Scandal

Posted on March 26, 2009
The ABA Tax Section offers a teleconference and webcast today on Tax Issues of the Madoff Scandal: Advising Victims of Investment Fraud from 1:00 - 2:30 p.m. EST: Fraudulent schemes by supposedly reputable investment advisors have left their investor-victims trying...

IRS Offers Amnesty to Those Who Evaded Tax Through Offshore Accounts

Posted on March 26, 2009
The IRS today announced reduced penalties for individuals who have evaded U.S. taxes though offshore accounts. The IRS will waive criminal prosecution for taxpayers who come forward over the next six months and pay back taxes, interest, and reduced penalties...

Saez Presents Financial Incentives for Retirement Saving Today at NYU

Posted on March 26, 2009
Emmanuel Saez (UC-Berkeley, Department of Economics) presents Details Matter: The Impact of Presentation and Information on the Take-Up of Financial Incentives for Retirement Saving at NYU today as part of its Colloquium Series on Tax Policy and Public Finance...

Buchanan Presents Creating a System of Capital Accounts for the Federal Government Today at BC

Posted on March 26, 2009
Neil H. Buchanan (George Washington) presents Responsible Spending versus Waste: Creating and Administering a System of Capital Accounts for the Federal Government at Boston College today as part of its Tax Policy Workshop Series organized by James R...

Epstein: AIG Bonus Tax Shouldn't Be, But Probably Is, Constitutional

Posted on March 26, 2009
Richard A. Epstein (Chicago) has an op-ed in today's Wall Street Journal: Is the Bonus Tax Unconstitutional?: The AIG bonuses were made pursuant to valid contracts entered into before the receipt of the bailout money. They were ratified in the...

Peroni Presents Worse Than Exemption Today at SMU

Posted on March 26, 2009
Robert J. Peroni (Texas) Presents Worse Than Exemption (with J. Clifton Fleming, Jr. (BYU) & Stephen E. Shay (Ropes & Gray, Boston)) at SMU today as part of its Tax Policy Colloquium Series moderated by Christopher H. Hanna and Henry...

Is SSRN Spam?

Posted on March 26, 2009
Following up on Tuesday's post, Is Legal Scholarship Dead?: Dan Markel has a great post on The Schlagfest in Geo. L. J. and a Mild Defense of SSRN Emails... [I]n footnote 8 [of A Reply to Pierre, 97 Geo. L.J....

Survivor Winner Richard Hatch

Posted on March 26, 2009
Richard Hatch, the first winner of the CBS reality TV show "Survivor," has filed a habeas petition seeking to be released from prison where he is serving his conviction for failing to pay taxes on his $1 million prize. United...

Gergen Presents Why Strong Third Party Penalties Are an Essential Tool Today at Toronto

Posted on March 25, 2009
Mark Gergen (UC-Berkeley) presents Why Strong Third Party Penalties Are an Essential Tool for Discouraging Taxpayers from Taking Aggressive Positions in Reporting on Matters of Factual or Legal Uncertainty at the University of Toronto today as part of the James...

Chodorow: The Taxation of Virtual Income

Posted on March 25, 2009
Adam Chodorow (Arizona State) has published Ability to Pay and the Taxation of Virtual Income, 75 Tenn. L. Rev. 695 (2008). Here is the abstract: Should virtual income be subject to real world taxes? For most people, intuition suggests that...

Obama to Name Tax Task Force

Posted on March 25, 2009
President Barack Obama plans to name a task force to review and make recommendations for overhauling the tax code. The task force will be led by former Federal Reserve Board Chairman Paul Volcker, Chair of the Economic Recovery Advisory Board....

McMahon: In Defense of CCA 200911007

Posted on March 25, 2009
Following up on Tuesday's post, IRS Limits Home Mortgage Interest Deduction for Gay/Lesbian Couples: Martin J. McMahon, Jr. (Florida) has graciously agreed to share and expand his contribution on the TaxProf Email Discussion Group, A Dissent to the Generally Expressed...

WWAMD: What Would Arthur Miller Do?

Posted on March 25, 2009
A second preview (see the first preview here) of this weekend's 2009 NYU Law Revue: (Hat Tip: Above the Law.)

Blank: What's Wrong With Shaming Corporate Tax Abuse?

Posted on March 25, 2009
Joshua D. Blank (Rutgers-Newark) has posted What's Wrong With Shaming Corporate Tax Abuse, 62 Tax L. Rev. ___ (2009), on SSRN. Here is the abstract: The public spotlight has emerged as a potential instrument for stopping corporations from pursuing shady...

Careers in Tax Law for Chicago Area Tax Students

Posted on March 25, 2009
The ABA Tax Section hosts Careers in Tax Law today for Chicago area tax students at John Marshall: The Section of Taxation co-hosts Careers in Tax Law panels at various law schools around the country to introduce J.D. and LL.M....

1st Circuit Orders Rehearing En Banc in Textron Tax Accrual Work Papers Case

Posted on March 25, 2009
The First Circuit today granted the government's petition, and denied the taxpayer's petition, for rehearing en banc in United States v. Textron, No. 07-2631 (1st Cir. Jan. 21, 2009). The sharply divided (2-1) First Circuit panel had held that Textron's...

Cain: In Defense of the Consensus on CCA 200911007

Posted on March 25, 2009
Pat Cain (Santa Clara) reacts to this morning's post, McMahon: In Defense of CCA 200911007: I agree that spouses have always been treated as separate taxpayers (and I think they should be so treated as long s they both have...

10 Things the IRS Won't Tell You

Posted on March 24, 2009
Smart Money: 10 Things the IRS Won't Tell You: Like it or not, you may need help with your taxes You don?t have to be rich to get audited Fear is often our best weapon The AMT is our ATM...

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