Taxation & Estate Planning

More on the Bush Tax Cuts

Posted on September 17, 2010
Jonathan Allen (Politico), Nancy Pelosi Keeps Losing Democrats on Tax Cuts Neil H. Buchanan (George Washington), The Bush Tax Cuts and Uncertainty Mike Dorf (Cornell), Boehner v. McConnell on Taxes Howard Gleckman (Forbes), Mitch McConnell, the Bush Tax Cuts, and the Future of Government Timothy Homan (Bloomberg), Paychecks Could Be...

IRS Files $350k Tax Lien Against Fashion Deginer Vera Wang

Posted on September 17, 2010
The IRS has filed a $350,000 tax lien against fashion designer Vera Wang. Don't Mess With Taxes New York Observer The Smoking Gun

Two Accounting Firms Included in U.S. News Ranking of the Top Tax Law Firms

Posted on September 17, 2010
Following up on Wednesday's post on the new U.S. News/Best Lawyers ranking of nearly 9,000 law firms in 81 practice areas into three tiers: the ranking of the 119 firms with the top tax practices includes two of the Big Four accounting firm Ernst & Young (among 36 Tier 1...

CBPP: Cutting State Corporate Income Taxes Is Unlikely to Create Many Jobs

Posted on September 17, 2010
The Center on Budget and Policy Priorities has published Cutting State Corporate Income Taxes Is Unlikely to Create Many Jobs, by Michael Mazerov: Corporate income taxes are important sources of revenue that states use to fund public services, including services essential to long-term economic growth like education, infrastructure, health care,...

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Capital Seeks to Hire Tax Prof

Posted on September 17, 2010
Capital University Law School is seeking to fill a tenure-track position for the 2011-12 academic year with a candidate who would like to teach both the Basic Income Tax and Business Tax (Corporate, Partnership, etc.) classes. Primary consideration will be given to entry-level candidates and junior-level (currently untenured) candidates...

Fleischer Presents Equality of Opportunity and Charitable Giving at BC

Posted on September 16, 2010
Miranda Perry Fleischer (Colorado) presented Equality of Opportunity and the Charitable Tax Subsidies at Boston College yesterday as part of its Tax Policy Workshop Series. Here is the abstract: Americans cherish the notion of equality of opportunity, believing that it protects a commitment to liberty and neutrality...

Jon Stewart: Robert Gibbs and John Boehner on the Bush Tax Cuts

Posted on September 16, 2010
The Daily Show With Jon Stewart Mon - Thurs 11p / 10c Faces of Debt www.thedailyshow.com Daily Show Full Episodes Political Humor Tea Party

Avi-Yonah: The Redemption Puzzle Redux

Posted on September 16, 2010
Following up on my prior posts: Reuven S. Avi-Yonah (Michigan), The Redemption Puzzle, 128 Tax Notes 853 (Aug. 23, 2010) Jeffrey M. Trinklein & David A. Siffert (both of Gibson Dunn, New York), Letter to the Editor, 128 Tax Notes 1082 (Sept. 6, 2010) Reuven S...

Merit Scholarship Website

Posted on September 16, 2010
A new website, MeritAid.com, provides a comprehensive list of merit scholarships and academic scholarships available from colleges across the country. (Hat Tip: Tom Smith.)

Kaye: Direct Taxation in the European Union

Posted on September 16, 2010
Tracy A. Kaye (Seton Hall) has published Direct Taxation in the European Union: Past Trends and Future Developments, 16 ILSA J. Int'l & Comp. L. 423 (2010).

State Winners and Losers if Bush Tax Cuts Expire

Posted on September 16, 2010
Stateline, States Face Fiscal Consequences If Bush-Era Tax Cuts Expire: As Congress debates whether to let tax cuts passed during the Bush administration expire, there?s a lot of talk about how the decision would impact the federal budget deficit. But there are fiscal implications for many states riding on the...

Only 10 of 199 Law Schools Provide Employment Data to Support Transparency Project

Posted on September 16, 2010
National Law Journal, Law Schools Give Cold Shoulder to Transparency Project: The Law School Transparency project's push to collect better data about how well recent law school graduates are doing in the job market has gotten off to a slow start. The nonprofit organization in July asked the 199 law...

Former Law Prof Alleges 'Collussive Retaliation' by Florida, Oxford

Posted on September 16, 2010
Following up on my prior posts (links below) on Sherrie L. Russell-Brown, a law professor at the University of Florida Levin College of Law from 2001-2007, who has filed a racial and sexual discrimination lawsuit against the school and its dean, as well as the University of Oxford, alleging that...

Knauer: Gay and Lesbian Estate Planning

Posted on September 16, 2010
Nancy J. Knauer (Temple) has posted Gay and Lesbian Elders: Estate Planning and End-of-Life Decision Making on SSRN. Here is the abstract: At a time when gay men and lesbians enjoy an unprecedented degree of acceptance, many gay and lesbian elders are facing the challenges of aging in silence, isolated...

Senate Rejects Bills to Repeal ObamaCare's 1099 Reporting Requirements

Posted on September 15, 2010
The Senate yesterday rejected attempts to repeal or reform the 1099 reporting requirements from ObamaCare. The Senate defeated (52-46) an amendment by Sen. Mike Johanns (R-Neb.) to repeal the requirement that businesses report all transactions in excess of $600 to the IRS...

U.S. News Tax Firm Rankings

Posted on September 15, 2010
This morning, U.S. News and Best Lawyers, the leading survey of lawyers worldwide, released their ranking of nearly 9,000 law firms in 81 practice areas in 171 metropolitan areas and 7 states (methodology here). Although the U.S. News law school rankings list the Top 100 law schools (with the remaining...

Obama Pulls Plug on DOJ Tax Division Nominee

Posted on September 15, 2010
Main Justice, Obama Won?t Re-Nominate Former DOJ Tax Division Choice: President Barack Obama will not re-nominate his former choice for the Justice Department Tax Division, whose nomination the Senate most recently sent back to the White House in August, a White House official told Main Justice on Tuesday...

Michael Lewis: Greece's 'Fraternal Revenue Service'

Posted on September 15, 2010
Vanity Fair, Beware of Greeks Bearing Bonds, by Michael Lewis: As Wall Street hangs on the question ?Will Greece default?,? the author heads for riot-stricken Athens, and for the mysterious Vatopaidi monastery, which brought down the last government, laying bare the country?s economic insanity...

Pareja: Taxing Barter Transactions

Posted on September 15, 2010
Sergio Pareja (New Mexico) has published It Taxes a Village: The Problem With Routinely Taxing Barter Transactions, 59 Cath. U. L. Rev. 785 (2010). Here is part of the Conclusion: [T]he IRS is already attempting to implement many of this Article's proposals...

Alesina: Spending and Tax Cuts, Not Spending Increases, Drive Economic Recovery

Posted on September 15, 2010
Wall Street Journal op-ed, Tax Cuts vs. 'Stimulus': The Evidence Is In, by Alberto Alesina (Harvard University, Department of Economics): Politicians argue for increased stimulus spending, as opposed to spending cuts, on the grounds that it would speed up economic recovery...

ABA Seeks Nominees for 2010 ABA Blawg 100

Posted on September 15, 2010
The ABA Journal is seeking nominations for its fourth annual list of the Top 100 legal blogs: We're working on our list of the 100 best legal blogs, and we'd like your advice on which blawgs you think we should include. Use the form below to tell us about a...

Senate Tax Showdown

Posted on September 15, 2010
Wall Street Journal editorial, Senate Tax Showdown: Five Democrats Have Already Said No: While Nancy Pelosi can probably pass whatever she wants in the House?she's already written the Blue Dogs off as losers in November?the real tax action this fall will be in the Senate...

Court Upholds NYU's Denial of MBA to PwC CPA Guilty of Insider Trading

Posted on September 15, 2010
The U.S. District Court for the Southern District of New York on Monday upheld NYU's decision to deny an M.B.A. degree from Ayal Rosenthal, a CPA who previously pled guilty to insider trading charges while working for PriceWaterhouseCoopers. NYU also changed his grade in the professional responsibility course to an...

Burke & McCouch: Castle Harbour Revisited

Posted on September 15, 2010
Karen C. Burke (San Diego) & Grayson M.P. McCouch (San Diego) have posted Snookered Again: Castle Harbour Revisited, 128 Tax Notes 1143 (Sept. 13, 2010), on SSRN. Here is the abstract: In this special report, the authors examine the Castle Harbour transaction, which used a partnership financing structure to shift...

Practitioners Blast Economic Substance Guidance as 'Profoundly Disappointing'

Posted on September 14, 2010
Amy S. Elliott, Practitioners Blast Economic Substance Guidance With No Angel List, 2010 TNT 177-1 (Sept. 14, 2010): Practitioners panned long-awaited guidance on the codified economic substance doctrine that the IRS released September 13, criticizing it as "profoundly disappointing...

Democrats Challenge Nancy Pelosi on Taxes

Posted on September 14, 2010
Politico, Democrats Challenge Nancy Pelosi on Taxes: Red-district Democrats are pressuring Speaker Nancy Pelosi to extend Bush-era income tax rates for all brackets, revealing a high-stakes rift between the party's vulnerable moderates and its safe liberals as the issue increasingly dominates the national debate...

More on the Tax Treatment of Professors' Research Expenses

Posted on September 14, 2010
Following up on yesterday's post, Tax Court Denies Prof's Claimed Deductions for Research: Stephen Bainbridge (UCLA) asks So Why Are My Scholarly Book Royalties Reported on Schedule C?: Since writing treatises and case books thus is part of my "services as an employee," why does my tax preparer insist on...

Foundation of Principal Drafter of 1954 Tax Code Gives $30m to College

Posted on September 14, 2010
Chronicle of Higher Education, Small Pennsylvania College Receives 'Transformational' Gift of $30-Million: Delaware Valley College, a private institution with 2,000 students in Doylestown, Pa., has received a gift of land, endowment money, and cash totaling $29...

Hussey: Avoiding Misuse of Donor Advised Funds

Posted on September 14, 2010
Michael J. Hussey (Widener) has published Avoiding Misuse of Donor Advised Funds, 58 Clev. St. L. Rev. 59 (2010). Here is the Conclusion: Congress identified the lack of a minimum payout as a concern given the favorable tax treatment afforded for contributions to donor advised funds...

Judge: 'Insubordination Necessarily Has Real Consequences in the Workplace, Even for Tenured Faculty'

Posted on September 14, 2010
National Law Journal, Fired Law Professor Gets Hearing, But It Confirms Her Termination, by Leigh Jones: A former professor who convinced a federal court that she was denied a tenure hearing before she was fired has nevertheless lost her bid to reclaim her old job...

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