Taxation & Estate Planning

Brauner: Brain Drain Taxation as Development Policy

Posted on July 14, 2010
Yariv Brauner (Florida) has posted Brain Drain Taxation as Development Policy, 54 St. Louis U. L.J. ___ (2010), on SSRN. Here is the abstract: This article examines the potential use of taxation to generate development funds in connection with the immigration of skilled immigrants from developing into developed countries, known...

In Defense of Going to Law School

Posted on July 14, 2010
Above the Law, In Defense of Going to Law School, by David Lat: Regular readers of Above the Law are no doubt familiar with the argument against going to law school. It?s fairly straightforward: given the weak legal job market and the high cost of law school, which often requires...

Levy & Glicksman: Agency-Specific Precedents: The Tax 'Silo'

Posted on July 14, 2010
Richard E. Levy (Kansas) & Robert L. Glicksman (George Washington) have posted Agency-Specific Precedents, 89 Tex. L. Rev. ___ (2010), on SSRN. Here is the abstract: As a field of legal study and practice, administrative law rests on the premise that legal principles concerning agency structure, administrative process, and judicial...

Chirelstein & Zelenak: Tax Increases, Revenue Effects, Efficiency, and Income Inequality

Posted on July 14, 2010
Marvin A. Chirelstein (Columbia) & Lawrence A. Zelenak (Duke) have published Tax Increases, Revenue Effects, Efficiency, and Income Inequality, 128 Tax Notes 197 (July 12, 2010). Here is the abstract: In this article, the authors examine ? and dismiss ? the major objections to the looming income tax rate increases...

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Bartlett: Do Tax Cuts Starve the Beast?

Posted on July 14, 2010
Bruce Bartlett (The Fiscal Times), Do Tax Cuts Starve the Beast?: Over the weekend, Sen. John Kyl, R-Ariz., asserted that despite the large budget deficit, tax cuts must never be offset, budgetarily. This view is consistent with a philosophy long held in Republican circles that tax cuts without any offsetting...

Law Firm Corporate Tax Rankings

Posted on July 13, 2010
Chambers has updated its rankings of the top U.S. law firms by various specialities. The rankings are based on 30-minute interviews with lawyers and clients (greater weight is given to the views of clients) (methodology). Here are the top Top 35 U.S. law firms in the area of Tax: Corporate...

Should CPAs Go to Law School?

Posted on July 13, 2010
Going Concern, So You're a CPA Thinking About Law School: [Y]ou?ve got the CPA and if you were to get the JD, maybe you?ll top it off with an LLM and it?ll be smartest thing you?ve ever done. Think about the money! The prestige! The hot lawyers that you will...

NYSBA Declares Victory in War Against U.S. News Law Firm Rankings

Posted on July 13, 2010
Following up on my recent post, The Forthcoming U.S. News & World Report Law Firm Rankings (June 25, 2010): Tax Prof Bridget J. Crawford (Pace) blogs the NYSBA's announcement yesterday declaring victory because of U.S. News' decision to rate (not rank) law firms: As many of you know, U...

Heritage Foundation Hosts Panel Discussion Today on The Impact of the Expiration of the 2001 and 2003 Tax Cuts

Posted on July 13, 2010
The Heritage Foundation hosts a panel luncheon at noon today on Capitol Hill on Impact on the Economy, Small Businesses, and Seniors from Expiration of 2001 and 2003 Tax Relief: The 2001 and 2003 tax relief packages expire at the end of 2010. That is less than 6 months from...

Unsuccessful Iowa Legal Writing Faculty Candidate Appeals Dismissal of Suit Claiming Discrimination Due to Her Conservative Views

Posted on July 13, 2010
Following up on my prior posts: Unsuccessful Iowa Legal Writing Faculty Candidate Sues, Claiming Discrimination Due to Her Conservative Views (Jan. 29, 2009) Judge Dismisses Claim by Unsuccessful Iowa Legal Writing Faculty Candidate Alleging Discrimination Due to Her Conservative Views (Apr...

Law School Transparancy Project Requests Detailed Employment Data From Each Schools

Posted on July 13, 2010
The Vanderbilt law students (Patrick J. Lynch and Kyle P. McEntee) behing the Law School Transparancy ("LST") project (blogged here) yesterday sent this email to all ABA-approved and provisionally-approved law schools requesting that they report to LST two lists with data about every graduate as of February 15, 2011: We...

Stanford Tries to 'Nudge' Its Aging Faculty to Retire

Posted on July 13, 2010
San Jose Mercury News, Stanford University Confronts the Graying of Academia: Many workers yearn for retirement ? the goodbye parties, the golf course, maybe even a gold watch. But Stanford University has the opposite problem: Nobody wants to leave. Hoping to create more space for young scholars, Stanford has revamped...

Willis & Chung: The Tax Penalty in ObamaCare Is Unconstitutional

Posted on July 13, 2010
Steven J. Willis (Florida) & Nakku Chung (J.D. 2010, Florida) have posted Constitutional Decapitation and Health Care, 128 Tax Notes 169 (July 12, 2010), on SSRN. Here is the abstract: Willis and Chung demonstrate how I.R.C. § 5000A ? the Health Care Act penalty ? is an unapportioned capitation tax,...

WSJ: By Dying in 2010, Did George Steinbrenner Save His Family $600m in Estate Tax?

Posted on July 13, 2010
Wall Street Journal, How Steinbrenner Saved His Heirs a $600 Million Tax Bill: Did George Steinbrenner save his heirs millions by dying in 2010? Forbes recently estimated the Yankees owner?s net worth at $1.1 billion, largely from the YES network. The New York Yankees, which he acquired in 1973 for...

eBay Sellers Wantonly Ignore State Sales Tax Laws

Posted on July 13, 2010
I previously blogged the article by James Alm (Georgia State University, Department of Economics) & Mikhail I. Melnik (Niagra University, Department of Commerce), Do eBay Sellers Comply with State Sales Taxes?, 63 Nat'l Tax J. 215 (2010), in the new issue (Vol...

Sheffrin: Tax Reform Commissions in the Sweep of California's Fiscal History

Posted on July 12, 2010
Steven M. Sheffrin (Tulane) has published Tax Reform Commissions in the Sweep of California's Fiscal History, 37 Hastings Const. L.Q. 661 (2010). Here is part of the Conclusion: What is missing from the two proposals suggested here?the reform of the property tax for commercial and industrial property and a new...

NY Times: Computers, Internet Access Hurt Student Academic Achievement

Posted on July 12, 2010
New York Times, Computers at Home: Educational Hope vs. Teenage Reality: Middle School students are champion time-wasters. And the personal computer may be the ultimate time-wasting appliance. Put the two together at home, without hovering supervision, and logic suggests that you won?t witness a miraculous educational transformation...

TaxProf Blog Weekend Roundup

Posted on July 12, 2010
Saturday; SoCal Tax Profs More on the Tax Advantages of LeBron James' Move to Miami Farmer: Change, Sadly, Is Inevitable Using the Tax Code to Resolve Disputes Over Nazi-Looted Art Sunday: Top 5 Tax Paper Downloads Why It's Time to Tax Internet Sales WSJ: The Estate Tax Death Panel --...

Public Law School Faculty Salaries

Posted on July 12, 2010
Brian Leiter flags this site as a source for public law school faculty salaries (as well as salaries of law school librarians and administrators): Arizona State Florida George Mason Illinois Michigan Missouri (Columbia) North Carolina Ohio State Rutgers (Camden & Newark) SUNY (Buffalo) Texas Virginia William & Mary Wisconsin For...

CSI: IRS

Posted on July 12, 2010
The Treasury Inspector General for Tax Administration announced today that the TIGTA Forensic Science Laboratory has attained national accreditation, further strengthening TIGTA's ability to protect the U.S. Federal system of tax administration: The American Society of Crime Laboratory Directors-LAB (ASCLD-LAB) board of directors voted to accredit the TIGTA Laboratory after...

Usain Bolt Runs From the Tax Man

Posted on July 12, 2010
From Sports Illustrated: Usain Bolt won't compete at next month's Crystal Palace Diamond League meeting because of British tax rules. Speaking at a news conference ahead of Friday's Areva meeting scheduled at the Stade de France, the Olympic and world champion in the 100 and 200 meters said he decided...

NY Times: It's Time to End Big Oil's Tax Breaks

Posted on July 12, 2010
New York Times editorial, Big Oil?s Good Deal: No industry enjoys the array of tax breaks and subsidies that the oil and gas industry does. No industry needs them less. For all the damage it has caused, the disastrous oil spill in the Gulf of Mexico may provide the political...

NLJ: Hope Drives 7% Rise in Law School Applications, Despite Dismal Job Outlook

Posted on July 12, 2010
National Law Journal, Hope Drives Rise in Law School Applications: Despite grim job statistics in nearly every corner of the legal world, law school applications increased by 7% over last year. Law school applications increased by 7% and the number of applicants by 3% nationwide for this year's incoming class...

Smith: The Estate & Gift Tax Implications of Self-Settled Domestic Asset Protection Trusts

Posted on July 12, 2010
Phyllis Smith (Florida A&M) has published The Estate and Gift Tax Implications of Self-Settled Domestic Asset Protection Trusts: Can You Really Have Your Cake and Eat it Too?, 44 New Eng. L. Rev. 25 (2010). Here is the abstract: Self-settled asset protection trusts are wealth preservation trusts coupled with the...

Tax Professors Remember Marty Ginsburg

Posted on July 12, 2010
Tax Notes has reprinted our tribute to Marty Ginsburg, Tax Professors Remember Martin D. Ginsburg, 128 Tax Notes 215 (July 12, 2010): Martin D. Ginsburg, legendary tax professor (Georgetown) and tax lawyer (Fried Frank), and husband of Supreme Court Justice Ruth Bader Ginsburg, died on June 27, 2010 at 78...

Madoff: Congress Should Restrict Dynasty Trusts by Limiting GST Exemption to Two Generations

Posted on July 12, 2010
Ray D. Madoff (Bostion College) has published an op-ed in the New York Times, America Builds an Aristocracy: Americans have always assumed that wealth comes and goes. A poor person can work hard, become rich and pass his money on to his children and grandchildren...

WSJ: The Estate Tax Death Panel -- Too Rich to Live Past 2010?

Posted on July 11, 2010
Weekend Wall Street Journal, Too Rich to Live?: The estate tax is set to come roaring back in January. That sets the stage for a perverse calculus: End it all?or leave a massive bill for your heirs to deal with. It has come to this: Congress, quite by accident, is...

NY Times: Colleges Are Spending More on Recreation, Less on Instruction

Posted on July 11, 2010
New York Times, Share of College Spending for Recreation Is Rising: American colleges are spending a declining share of their budgets on instruction and more on administration and recreational facilities for students, according to a study of college costs released Friday...

Top 5 Tax Paper Downloads

Posted on July 11, 2010
There is a bit of movement in this week's list of the Top 5 Recent Tax Paper Downloads, with a new #1 paper and a new paper debuting on the list at #4: 1. [465 Downloads] Taxation and the Financial Sector, by Douglas A. Shackelford (University of North Carolina, Kenan-Flager...

Why It's Time to Tax Internet Sales

Posted on July 11, 2010
PC World, Why it's Time to Tax Internet Sales: E-commerce companies are no longer babes in the woods needing tax exemptions to get established. Buying an $800 couch or television via the tax-free Internet can be nearly $80 cheaper than a purchase made in a high-sales-tax city like San Francisco...

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