Taxation & Estate Planning

Willens: Wells Fargo and PNC: Tax Refunds in the Offing?

Posted on December 09, 2008
Robert Willens (Robert Willens LLC, New York; Adjunct Professor, Columbia) has published Wells Fargo and PNC: Tax Refunds in the Offing?, 121 Tax Notes 1193 (Dec. 8, 2008): Wells Fargo & Co. (WFC) and PNC Financial Services Group Inc. will...

Reading JCT Staff Distribution Tables

Posted on December 09, 2008
Following up on yesterday's post, IRS & GW Host 21st Institute on Current Issues in International Taxation: Joint Committee on Taxation Chief of Staff Edward D. Kleinbard has released his keynote address, Reading JCT Staff Distribution Tables: An Introduction to...

Black: Same-Sex Marriage and Taxes

Posted on December 09, 2008
Stephen T. Black (Franklin Pierce) has published Same-Sex Marriage and Taxes, 22 BYU J. Pub. L. 327 (2008). Here is the Conclusion: Tax law prefers traditional married couples with children. The range of benefits runs from cradle to grave, including....

Kenneth Copeland Denied Tax Exemption for $3.6m Jet After Refusing to Disclose Salaries

Posted on December 09, 2008
Associated Press: Tax-Exempt Status Denied for Televangelist's Jet: A Tarrant Appraisal District review board ruled Monday that Kenneth Copeland Ministries' $3.6 million jet does not have tax-exempt status. The district denied a protest filed by the televangelist's attorneys because the...

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Gordon & Dew-Baker: The Rise of American Inequality

Posted on December 09, 2008
Robert J. Gordon (Northwestern University, Department of Economics) & Ian Dew-Becker (Harvard University, Department of Economics) have posted Controversies about the Rise of American Inequality: A Survey (NBER Working Paper No. 13982) on NBER. Here is the abstract: This paper...

Cincinnati Lawyer Gets 6 Months in Jail for Dropping F-Bomb on Opposing Counsel in Court

Posted on December 09, 2008
After Cincinnati attorney Michael Brautigam dropped an f-bomb at opposing counsel in state court last Thursday, the judge immediately found him in contempt and sentenced him to six months imprisonment. From the Cincinnati Enquirer: Michael Brautigam was before [Judge Robert]...

IRS to Crack Down on UBS, Citigroup Tax Dodge

Posted on December 09, 2008
Following up on yesterday's post, IRS & GW Host 21st Institute on Current Issues in International Taxation: Bloomberg News, IRS to Crack Down on Tax Dodge Sold by UBS, Citigroup, by Ryan J. Donmoyer: The IRS has made a priority...

Doran: Intergenerational Equity in Fiscal Policy Reform

Posted on December 09, 2008
Michael Doran (Virginia) has published Intergenerational Equity in Fiscal Policy Reform, 61 Tax L. Rev. 241 (2008). Here is the Conclusion: Assessing government policy decisions from the perspective of intergenerational equity presents substantial problems...

Roin: Can the Income Tax Be Saved Via Worldwide Formulary Apportionment?

Posted on December 08, 2008
Julie Roin (Chicago) has published Can the Income Tax Be Saved? The Promise and Pitfalls of Adopting Worldwide Formulary Apportionment, 61 Tax L. Rev. 169 (2008). Here is the abstract: Most developed nations raise a substantial portion of their revenues...

Lawyer Billing Rates Reach $1,260/Hour

Posted on December 08, 2008
The highest hourly billing rates reported by the National Law Journal's annual billing survey were: Partners: $1,260/hour (White & Case), $1,180/hour (Dorsey & Whitney), $1,020/hour (Buchanan Ingersoll & Rooney), $1,000/hour (Jenner & Bloc) Associates: $920/hour (White & Case), $820/hour (Dorsey...

U.S., Liechtenstein Sign Tax Information Exchange Agreement

Posted on December 08, 2008
Following up on Friday's post (Liechtenstein to Share Some Tax Secrets): the Treasury Department today announced (HP-1320) that the U.S. has signed a Tax Information Exchange Agreement with Liechtenstein: The Tax Information Exchange Agreement (TIEA) with Liechtenstein will provide the...

Gravelle & Gravelle: Taxing Poor Families: The Evolution of Treatment Under the Federal Income Tax

Posted on December 08, 2008
Jane Gravelle (Congressional Research Service) & Jennifer Gravelle (Government Accountability Office) have published Taxing Poor Families: The Evolution of Treatment Under the Federal Income Tax, 7 Conn. Pub. Int. L.J. 191 (2008). Here is part of the Introduction: Dramatic changes...

Blood on the Street

Posted on December 08, 2008
Check out this sobering chart (via Greg Mankiw) showing the annual percentage return of the S&P 500 from 1825 - 2008:

Grad School Enrollments Drop, Business & Law School Enrollments Increase, During Recession

Posted on December 08, 2008
Today's Chronicle of Higher Education and Inside Higher Ed report that the number of students taking the Graduate Record Examination will decline in 2008, the first time in history that the GRE has seen a fall in test-taking during an...

Individual Income Tax Expenditures

Posted on December 08, 2008
Leonard Burman (Senior Fellow, Urban Institute; Director, Tax Policy Center), Eric Toder (Senior Fellow, Urban Institute) & Christopher Geissler (Graduate Student, Duke University, Department of Economics) have posted How Big Are Total Individual Income Tax Expenditures, and Who Benefits from...

IRS & GW Host 21st Institute on Current Issues in International Taxation

Posted on December 08, 2008
The IRS and George Washington host the 21st Institute on Current Issues in International Taxation. The keynote addresses will be delivered by IRS Commissioner Douglas Shulman (today) and Joint Committee on Taxation Chief of Staff Edward D. Kleinbard (tomorrow)...

ABA Tax Section Hosts Low Income Taxpayers Representation Workshop Today in D.C.

Posted on December 08, 2008
The ABA Tax Section's Low Income Taxation Committee ond Pro Bono Committee host a Low Income Taxpayers Representation Workshop in Washington, D.C. this afternoon: Designed for both Low Income Taxpayer Clinic staff and pro bono tax practitioners, this workshop will...

CTJ: Principles for Progressive Taxation During a Recession

Posted on December 08, 2008
Citizens for Tax Justice has issued a report, Principles for Progressive Taxation During a Recession: The debate over taxes has become somewhat confused since the recession reared its head. Discussions of how Congress should go about matching federal revenues to...

TaxProf Blog Weekend Roundup

Posted on December 08, 2008
Saturday: The Unequal Geographic Burden of Federal Taxation Bank Bailouts Imperil Energy & Low-Income Tax Credits IRS Names Curtis Wilson Associate Chief Counsel (PSI) Sunday: Top 5 Tax Paper Downloads Law School Exam Taking Tips ABA Tax Section Submits Comment...

Top 5 Tax Paper Downloads

Posted on December 07, 2008
There is quite a bit of movement in this week's list of the Top 5 Recent Tax Paper Downloads, with new papers debuting on the list at #4 and #5: 1. [540 Downloads] A Brief Analysis of Governor Palin's Tax...

Law School Exam Taking Tips

Posted on December 07, 2008
Jeff Lipshaw (Suffolk) of our sister Legal Profession Blog offers some very helpful Law School Exam Taking Tips

ABA Tax Section Submits Comment Letters

Posted on December 07, 2008
The ABA Tax Section has submitted comment letters on: The New ?Plan Asset? Rules Under ERISA § 3(42) Notice 2008-2 The Proposed ?Service Provider? Regs Under ERISA § 408(b)(2) Notice 2008-64 The Treatment of Stock of the Acquiring Corporation Already...

Anti-Terrorist Financing Guidelines Fail to Address Charitable Concerns

Posted on December 07, 2008
Michael W. Ryan (J.D. 2008, Wake Forest; Associate, McDermott Will & Emery, Washington, D.C.) has published Comment, Not All Practice Makes Perfect: How the Treasury's Revised Anti-Terrorist Financing Guidelines Still Fail to Adequately Address Charitable Concerns, 43 Wake Forest L...

Patenting the Tax Code: Monopolizing Basic Tax Strategy

Posted on December 07, 2008
Nicholas Robinson (LL.M. (Tax) 2008, Miami) has published Patenting the Tax Code: Monopolizing Basic Tax Strategy, 5 Buff. Intell. Prop. L.J. 50 (2007). Here is the Introduction In this paper I will discuss the new trend of patenting tax strategies...

Bank Bailouts Imperil Energy & Low-Income Tax Credits

Posted on December 06, 2008
Dow Jones: US House Tax Adviser: Energy Tax Credit Changes Possible, by Martin Vaughan: The top tax staff adviser to U.S. House Ways and Means Committee Democrats said Congress may consider changes to renewable energy and low-income housing tax credits...

IRS Names Curtis Wilson Associate Chief Counsel (PSI)

Posted on December 06, 2008
The IRS yesterday (IR-2008-136) named Curtis G. Wilson (B.A. 1974, Augustana; J.D. 1977, South Dakota; LL.M. (Tax) 1988, Georgetown) Associate Chief Counsel (Passthroughs and Special Industries): Before joining the IRS Office of Chief Counsel in 1983, Wilson worked in private...

The Unequal Geographic Burden of Federal Taxation

Posted on December 06, 2008
David Y. Albouy (University of Michigan, Department of Economics) has posted The Unequal Geographic Burden of Federal Taxation (NBER Working Paper 13995) on NBER. Here is the abstract: In the United States, workers in cities offering above-average nominal wages ?...

Fleischer Presents Charitable Justice Today at San Diego

Posted on December 05, 2008
Miranda Fleischer (Illinois) presents Charitable Justice at San Diego today as part of its Tax Law Speaker Series. Here is the abstract: Distributive justice scholars generally tell one of two stories about philanthropy. One is that much giving benefits the...

Gingrich: Two-Month Income and FICA Tax Holiday Should Replace Bailout

Posted on December 05, 2008
Stop Income Tax For Two Months, by Newt Gingrich: Rep. Louie Gohmert (R.-Tex.) has proposed a very important tax-cut alternative to the Pelosi-Paulson big-government bailout plan. Where the Pelosi-Paulson plan takes the taxpayers? money and puts it under the government?s...

Democrats Oppose Expanding Bank Loss Ruling

Posted on December 05, 2008
Dow Jones: Lawmakers Oppose Expanding Bank Loss Ruling, by Martin Vaughan: Nine House Democrats urged Treasury Secretary Henry Paulson on Thursday not to expand the scope of a tax benefit for U.S. banks that acquire struggling banks. "We strongly believe...

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