Taxation & Estate Planning

Welcome to the Tax Blogosphere: NYU Law Tax Blog

Posted on November 03, 2010
Welcome to the tax blogosphere: NYU Law Tax Blog This Web site is a resource for students, faculty, alumni and friends of the NYU Graduate Tax Program. We look forward to using this Web site to share the latest news and events from our community with you...

More on Dialysis Patients Who Plan to Pull Plug by Dec. 31 to Avoid Estate Tax

Posted on November 03, 2010
Following up on Monday's post, Congresswoman Says Constituents Plan to Die by Dec. 31 to Avoid Estate Tax:

Zelinsky: An Open Letter on Taxes to Bill Gates, Sr.

Posted on November 03, 2010
Oxford University Press Blog, An Open Letter on Taxes to Bill Gates, Sr., by Edward A. Zelinsky (Cardozo): You have, by dint of your intelligence and sincerity, become a major spokesman for wealthy Americans calling for higher taxes. Since the nation?s budgetary problems will only be solved by combining spending...

59th Annual Tulane Tax Institute

Posted on November 03, 2010
The 59th Annual Tulane Tax Institute kicks off today in New Orleans. Here are the Tax Profs scheduled to speak at the three-day conference: Dane Ciolino (Loyola-New Orleans), Professionalism in Tax Practice Sam Donaldson (U. Washington), Recent Developments in the Taxation of Individuals Stanley M...

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Galle Presents Policy Innovation in Firms and Governments at Washington & Lee

Posted on November 03, 2010
Brian Galle (Boston College) presented Policy Innovation in Firms and Local & National Governments at Washington & Lee as part of its Faculty Workshop Series. Here is a description: In the article, Professor Galle discusses the various factors that drive innovation and creative policy implementation in local and national governments...

Taxes and Tuesday's Election

Posted on November 03, 2010
ataxingmatter, If Dems go Down--Outlook for Taxes, Financial Industry, Military and War, ... CBS MoneyWatch, What the Republican Mid-Term Win Means for Your Taxes Don't Mess With Taxes, Tax Moves to Make in November Forbes, Election Night Tax Advice: Before You Accelerate Income, Move Forbes, Republicans Win Big...

NLJ: Do Law Schools Need a Warning Label?

Posted on November 03, 2010
National Law Journal, Would Law School Warning Labels Make Any Difference?, by Ari L. Kaplan: [There are] two reasons that individuals assume the debt to go to law school without a full awareness of the potential outcomes. First, most prospective law students sincerely believe they will graduate in the top...

WSJ: GM's Special $45 Billion NOL Provides Lucrative Tax Shelter

Posted on November 03, 2010
Wall Street Journal, GM Could Be Free of Taxes for Years: General Motors Co. will drive away from its U.S.-government-financed restructuring with a final gift in its trunk: a tax break that could be worth as much as $45 billion. ... [A]ccording to documents filed with federal regulators, the revamping...

Is Obama a Keynesian? (at Jon Stewart's Rally to Restore Sanity)

Posted on November 03, 2010
(Hat Tip: Greg Mankiw.)

McArdle: Why We Should Eliminate the Corporate Income Tax

Posted on November 02, 2010
The Atlantic, Why We Should Eliminate the Corporate Income Tax, by Megan McArdle: The FT has a piece today on the administration's plans to lower the corporate income tax rate in exchange for simplification--getting rid of a bunch of deductions. This is a decent plan--and not just because it's the...

Two People Scam Social Security, Cause $32 Billion Mistake in Income Data

Posted on November 02, 2010
Bloomberg, `Invalid' Multiple Tax Forms by Supposed Billionaires Skew Wage Figures, by Ryan J. Donmoyer: The Social Security Administration has discovered a $32.3 billion mistake in its 2009 wage index and today asked its inspector general to investigate how the error occurred...

UC President Proposes Raising Faculty Retirement Age From 50 to 55

Posted on November 02, 2010
Sacramento Bee, UC President Recommends Cutting Retirement Benefits: UC President Mark Yudof has ... laid out proposals to raise the minimum retirement age for future UC employees and reduce retiree health care benefits for existing employees. ... Under his proposals, employees hired by UC after July 1, 2013 would be...

Tobin: CEOs Shouldn?t Use Corporate Treasury as Personal Political Piggy Bank

Posted on November 02, 2010
Roll Call, CEOs Shouldn?t Use Corporate Treasury as Personal Political Piggy Bank, by Donal B. Tobin (Ohio State): Recent reports indicate that News Corp., based on the wishes of CEO Rupert Murdoch, contributed $1 million to the Republican Governors Association, and through it, to Ohio gubernatorial candidate John Kasich...

Prop 13 and the California Fiscal Shell Game

Posted on November 02, 2010
Colin H. McCubbins (Stanford) & Mathew D. McCubbins (USC) have posted Proposition 13 and the California Fiscal Shell Game on SSRN. Here is the abstract: We study the effects of California's Tax and Expenditure Limitations, especially Proposition 13. We find that Proposition 13 was indeed effective at reducing both ad...

Post-Election Tax Reform

Posted on November 02, 2010
Reuters, Is This the Tax Reform Obama and the New Congress Can Agree On?, by James Pethokoukis: President Barack Obama?s bipartisan deficit commission has a mandate to cut the U.S. budget gap. But the White House panel may surprise in another area: tax reform...

The Amazon Tax in Ohio and Kentucky

Posted on November 02, 2010

Billionaire Proves He Was Not in NYC 2 Days, Saves $47m in Taxes & Interest

Posted on November 02, 2010
Forbes, Billionaire Julian Robertson Notches Tax Win For New York City Non-Residents, by Janet Novack: A divided three-member New York State Tax Appeals Tribunal has upheld an administrative judge?s finding that billionaire hedge fund pioneer Julian H...

100 Colleges Charge $50k/Year -- Up from 58 in 2009-10 and 5 in 2008-09

Posted on November 02, 2010
Chronicle of Higher Education, A Public University Joins the Expanding 50K Club of College Prices, by Jeffrey Brainard: The ranks of the most expensive colleges have grown again: 100 institutions are charging $50,000 or more for tuition, fees, room, and board in 2010-11, according to a Chronicle analysis of data...

TIGTA: IRS Needs to Better Protect Federal Tax Liens in Mortgage Foreclosures

Posted on November 02, 2010
The Treasury Inspector General for Tax Administration today released Coordination and Procedures for Foreclosures Can Be Improved (2010-30-119): The IRS was inconsistent in how it processed foreclosure cases and coordinated with local United States Attorneys' Offices (USAO)...

Sullivan: America's Slow Descent to Second-Class Status

Posted on November 01, 2010
Martin A. Sullivan (Tax Analysts) has published Fiscal Crisis, Part 1: The Slow Descent to Second-Class Status, 129 Tax Notes 499 (Nov. 1, 2010): It is undeniable that we are on the path to fiscal collapse. This decline will occur in two stages. First there is the decay as the...

Congresswoman Says Constituents Plan to Die by Dec. 31 to Avoid Estate Tax

Posted on November 01, 2010
Associated Press, US Rep.: Estate Tax Rise Has Some Planning Death: U.S. Rep. Cynthia Lummis says some of her Wyoming constituents are so worried about the reinstatement of federal estate taxes that they plan to discontinue dialysis and other life-extending medical treatments so they can die before Dec...

Subscribing to TaxProf Blog

Posted on November 01, 2010
We offer two ways for you to have TaxProf Blog content automatically delivered to your computer, cell phone, or mobile device, as explained in the left column of the blog under the banner, "Subscribe to TaxProf Blog Via RSS Feed or Email": RSS Feeds: You can subscribe to one of...

Bishop: Forgotten Trust -- A Check-the-Box Achilles? Heel

Posted on November 01, 2010
Carter G. Bishop (Suffolk) has published Forgotten Trust: A Check-the-Box Achilles? Heel, 43 Suffolk U.L. Rev. 529 (2010). Here is the abstract: The 1997 check-the-box regulations largely ignored the distinction between trusts and business entities. The regulations promoted certainty and simplicity for unincorporated business entities by replacing uncertain and complex...

TaxProf Blog Weekend Roundup

Posted on November 01, 2010
Saturday: CRS: Cost of Extending Bush Tax Cuts = $5 Trillion Democratic National Committee Is D.C. Tax Deadbeat 9th Cir. Rejects Government's Subpoena of Skadden Opinion Documents in Quellos Tax Shelter Case Taxation of Contingency Fees Sunday: What Halloween Can Teach Your Kids About Taxes GOOOAAALLL!!! Top 5 Tax Paper...

Weisbach Presents The Regulation of Tax Advisors Today at Loyola-L.A.

Posted on November 01, 2010
David Weisbach (Chicago) presents The Regulation of Tax Advisors at Loyola-L.A. today as part of its Tax Policy Colloquium Series (with Brian Galle (Boston College)). The commentators are Michael Guttentag (Loyola-LA) & Nathan Hochman (Bingham, Los Angeles) & Here is the abstract: We examine the effects of advice about the...

60 Minutes: The Battle Over Taxing the Rich

Posted on November 01, 2010
60 Minutes (Oct. 31, 2010), The Battle Over Taxing the Rich: (Hat Tip: Ann Murphy.)

Aprill: Section 501(c)(4) Organizations, the Gift Tax, and the Disclosure Rules

Posted on November 01, 2010
Ellen P. Aprill (Loyola-L.A.), Section 501(c)(4) Organizations, the Gift Tax, and the Disclosure Rules: Recent discussions of whether gifts to § 501(c)(4) organizations that engage in candidate-related activity are subject to the federal gift tax have failed to make clear an important distinction...

Gimme Shelter: 'The Rolling Stones Are Famously Tax-Averse'

Posted on November 01, 2010
Fortune, Inside the Rolling Stones Inc.: [I]n many respects the Rolling Stones are like any other large business. They are global, they pay taxes (grudgingly), and they litigate. The band has a P&L and budgets, and accountants, and lawyers, and bankers, and investments, and software, and hardware...

Milne: Watersheds -- Runoff from the Tax Code

Posted on November 01, 2010
Janet E. Milne (Vermont) has published Watersheds: Runoff from the Tax Code, 34 Vt. L. Rev. 883 (2010). Here is the abstract: This article examines selected federal and state tax measures from a watershed perspective, exploring ways in which they may?or may not?enhance the quality of water within a watershed...

Recasting State Tax Incentives for Hollywood

Posted on October 31, 2010
Joshua R. Schonauer (J.D. 2010, Ohio State) has publidhed Note, Star Billing? Recasting State Tax Incentives for the "Hollywood" Machine, 71 Ohio St. L.J. 381 (2010). Here is the Conclusion: State tax incentives for the film industry have had a positive effect by reining in the loss of jobs and...

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