Taxation & Estate Planning

Tax Court Denies Deductions for Lawyer's 'Pursuit of the Unified Life'

Posted on December 14, 2010
Pace v. Commissioner, T.C. Memo. 2010-272 (Dec. 13, 2010): [Dean F. Pace is] one man in three parts. As Dean Pace, Esq., he has practiced law for over 50 years and become an unusually successful attorney specializing in qui tam litigation -- as he himself testified: "I don't think anyone...

Little Drummer Boy: Will Ferrell & John C. Reilly/David Bowie & Bing Crosby

Posted on December 14, 2010
Peace on Earth/Little Drummer Boy with Will Ferrell & John C. Reilly from Will Ferrell

Rahm Emanuel Faces Tax Return Questions in Hearing to Establish Residency for Mayoral Run

Posted on December 14, 2010
The Chicago Tribune is live-blogging the Chicago Board of Elections hearing today to determine whether former White House Chief of Staff Rahm Emanuel meets the residency requirement for running for mayor. According to the Chicago Sun-Times, one of the key issues is his 2009 state income tax return: On the...

Changes at the Florida Tax Review

Posted on November 26, 2010
Martin J. McMahon, Jr. has been named editor-in-chief of the Florida Tax Review, published by the Graduate Tax Program of the University of Florida College of Law. The Board of Editors has been restructured, with members of the faculty of the Graduate Tax Program serving as editors and distinguished faculty...

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Lawmakers Ask IRS to Treat Breastfeeding as a Medical Expense

Posted on November 26, 2010
Eleven senators and 34 representatives sent this letter to the IRS on Tuesday, requesting that the IRS reverse its position and treat the cost associated with breastfeeding (breast pumps and breastfeeding supplies) as a medical expense. (Hat Tip: The Hill...

Cooper: Applying the Benefit-the-Beneficiaries Rule to Trust Investment Directives

Posted on November 26, 2010
Jeffrey A. Cooper (Quinnipiac) has posted Shades of Gray: Applying the Benefit-the-Beneficiaries Rule to Trust Investment Directives, 91 B.U. L. Rev. ___ (2011), on SSRN. Here is the abstract: This Essay considers the trust investment management implications of Section 105(b)(3) of the Uniform Trust Code (UTC), which codifies an unwaivable...

Johnson: State Tax Exemption of Food Used by Casinos for Comped Meals

Posted on November 26, 2010
Steve Johnson (UNLV) has published Sparks Nugget. State Tax Exemption of Food Used by Casinos for Comped Meals, 1 UNLV Gaming L. J. 141 (2010). Here is the abstract: In their search for new sources of revenue, states have legalized and sought to tax many kinds of gaming...

Brunson: Taxing Investors on a Mark-to-Market Basis

Posted on November 26, 2010
Samuel D. Brunson (Loyola-Chicago) has published Taxing Investors on a Mark-to-Market Basis, 43 Loy. L.A. L. Rev. 507 (2010). Here is the abstract: Although the U.S. tax system generally only taxes income on a realization basis (that is, when payment changes hands), mark-to-market accounting better reflects economic income...

Puckett: Marriage Neutrality, Children, and Contemporary Families

Posted on November 26, 2010
James M. Puckett (Seattle) has published Rethinking Tax Priorities: Marriage Neutrality, Children, and Contemporary Families, 78 U. Cin. L. Rev. 1409 (2010). Here is the abstract: Tax scholarship has long struggled with whether married taxpayers should be taxed differently from unmarried taxpayers...

A Cincinnati (and India and South Africa) Thanksgiving

Posted on November 25, 2010
One of the many things we love about Cincinnati is our local church -- Crossroads Community Church. The church was started by 11 people in March 1996 -- we went to the opening service and have watched in awe as Crossroads has grown to be a 14,000-member behemoth...

Slate: Guide to Your Thanksgiving Tax Argument

Posted on November 25, 2010
Slate: Turkey Tussle: Slate's Guide to Your Annual Thanksgiving Arguments, by John Dickerson: First a prayer: May your Thanksgiving be peaceful and loving?free of pat-downs, fowl-ups, and political debate. ... Nevertheless, I recognize that some families can't resist an argument...

Father of UBS Tax Whistleblower Makes Thanksgiving Day Plea for Son?s Clemency

Posted on November 25, 2010
Father of UBS Whistleblower Makes Thanksgiving Day Plea for Son?s Clemency: Ronald Birkenfeld, father of UBS whistleblower Bradley Birkenfeld (right), made a personal Thanksgiving Day appeal to President Barack Obama for his son to be released from prison...

Johnson: The Fiscal Commission Has Forgotten Its Role

Posted on November 24, 2010
Calvin H. Johnson (Texas) has published The Fiscal Commission Has Forgotten Its Role, 129 Tax Notes 921 (Nov. 22, 2010): The National Commission on Fiscal Responsibility and Reform is tasked with reducing the deficit to avoid an impending budget catastrophe...

Avi-Yonah & Benshalom: Formulary Apportionment -- Myths and Prospects

Posted on November 24, 2010
Reuven S. Avi-Yonah (Michigan) & Ilan Benshalom (Hebrew University of Jerusalem, Faculty of Law) have posted Formulary Apportionment: Myths and Prospects -- Promoting Better International Tax Policy and Utilizing the Understood and Under-Theorized Formulary Alternative on SSRN...

9th Cir.: Minor Child (Secondary Beneficiary of Father's Retirement Account) Liable for Tax on Distribution After Mother (Primary Beneficiary) Kills Father

Posted on November 24, 2010
The Ninth Circuit ruled on Monday that a minor child of a woman who killed her husband (the child's father) was liable for the tax on a distribution from his father's retirement account as its ?distributee? because the wife, although listed as the plan's primary beneficiary, was ineligible under Oregon...

Mankiw: The Blur Between Spending and Taxes

Posted on November 24, 2010
New York Times op-ed, The Blur Between Spending and Taxes, by N. Gregory Mankiw ((Harvard University, Department of Economics): Should the government cut spending or raise taxes to deal with its long-term fiscal imbalance? As President Obama?s deficit commission rolls out its final report in the coming weeks, this issue...

Is Failure to Support Obama Administration's Foreign Policy Grounds to Deny Charity's Tax-Exempt Status?

Posted on November 24, 2010
Following up on my prior posts: NY Times: Charitable Deduction Subsidizes Israeli Settlements, Contrary to U.S. Policy (July 7, 2010) Lawsuit: IRS Using Bob Jones University to Deny Tax-Exempt Status to Pro-Israel Charity (Aug. 26, 2010) Z Street issued this press release on Monday: Z STREET, an organization devoted to...

Willis & Chung: The Tax Penalty in ObamaCare Is Unconstitutional

Posted on November 24, 2010
Steven J. Willis (Florida) & Nakku Chung (J.D. 2010, Florida) have posted Oy Yes, the Healthcare Penalty is Unconstitutional, 129 Tax Notes 725 (Nov. 8, 2010), on SSRN. Here is the abstract: Willis and Chung authored a report (Constitutional Decapitation and Healthcare) concluding that the penalty imposed under new section...

IRS Increases Scrutiny of Taxpayers With Foreign Assets

Posted on November 24, 2010
The Treasury Inspector General for Tax Administration today released New Legislation Could Affect Filers of the Report of Foreign Bank and Financial Accounts, but Potential Issues Are Being Addressed (2010-30-125): [T]he number of FBAR-related examinations increased 96 percent (from 334 to 656) from Fiscal Year (FY) 2004 to FY 2009...

Outgoing Northwestern Dean Van Zandt Lists Lincoln Park Home for $4.7 Million

Posted on November 24, 2010
Check out the listing (video tour here) for outgoing Northwestern Dean David E. Van Zandt's home (441 West Belden Avenue, Chicago), which he purchased for $922,550 in 1996 and is trying to sell for $4.7 million (a 27% annual return): Stunning approx 6,300 sq ft 6 bedroom, 6...

SSRN Tax Professor Rankings

Posted on November 23, 2010
SSRN has updated its monthly rankings of 663 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 November 18, 2010) of the Top 25 U...

Call for Tax Papers: American Society for Legal History

Posted on November 23, 2010
The American Society for Legal History has issued a Call for Papers for its Annual Meeting in Atlanta on November 10-13, 2011. The ASLH invites proposals on any facet or period of legal history, anywhere in the world. Limited financial assistance will be available for those in need?with special priority...

Mikos: State Taxation of Marijuana

Posted on November 23, 2010
Robert Mikos (Vanderbilt) has published Why Crime Doesn't Pay: Thoughts on State Taxation of Marijuana Distribution and Other Federal Crimes, 2010 U. Chi. Legal F. 223. Here is the abstract: The financial crisis has breathed new life into proposals to reform marijuana law...

Welcome to the Tax Blogosphere: Tax Tips for Poker Players

Posted on November 23, 2010
Tax Tips for Poker Players: With this blog, I intend to highlight the many tax issues a poker player should be aware of in order to properly report gambling earnings. The IRS has taken action against poker players for unpaid taxes. With smart planning and sound guidance, these problems can...

LeBron James: 'What Should I Do?'

Posted on November 23, 2010
Wall Street Journal, LeBron James Ad Asks for It: In an arty, soul-searching 90-second Nike commercial released in October, basketball star LeBron James asks repeatedly, "What should I do?" While the original version and direct copies of the ad?which attempt to deal head-on with Mr...

Welcome to the Tax Blogosphere: Pat Cain's Same Sex Tax Law Blog

Posted on November 23, 2010
Patricia A. Cain (Santa Clara) has launched Same Sex Tax Law Blog. From her inaugural post: The Internal Revenue Code provides numerous special provisions for spouses. At the current time none of these provisions applies to same-sex couples. Even legally married same-sex couples, residing in states where their marriages are...

How Going to College Is Like Getting a Root Canal

Posted on November 23, 2010
New York Times, College Costs, the Sequel: The questions readers put to my previous column on the supposed college cost crisis are best answered by economists. Accordingly, the editors and I have asked the economists whose book formed the basis of my remarks, Robert B...

Faherty Student Tax Writing Competition -- $3,000 First Prize

Posted on November 23, 2010
The Center for Tax Law and Employee Benefits at The John Marshall Law School Chicago sponsors the Paul Faherty Tax Law Writing Competition: Scope: The scope of permissible topics for the writing competition is broad -- any aspect of Tax Law is acceptable: ...

Basis: The Basics

Posted on November 23, 2010
Tax Basis: What It Is & Why It Matters

Chris Pietruszkiewicz Is Candidate for Gonzaga Deanship

Posted on November 23, 2010
Tax Prof Chris Pietruszkiewicz (Vice Chancellor and J.Y. Sanders Professor of Law, LSU) is one of four candidates who have interviewed on campus thus far for the Gonzaga deanship. (You can view his Nov. 22 presentation at Gonzaga here.) The other candidates that have interviewed on campus thus far are:...

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