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Taxation & Estate Planning Blog Posts from November 19, 2009

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Taxation & Estate Planning Posts (November 19, 2009)

APPLICABLE FEDERAL RATES ? DECEMBER 2009

Posted on Rubin on Tax on November 19, 2009 at 7:39 PM

Galle Receives Honorable Mention in AALS Scholarly Paper Competition

Brian D. Galle (Florida State) received honorable mention in the 2010 AALS Scholarly Paper Competition for his paper, Foundation or Empire? The Role of Charity in a Federal System, 88 Tex. L. Rev. ___ (2010). Brian will present the paper at the AALS Annual Meeting on Friday, January 8, at...
Posted on TaxProf Blog on November 19, 2009 at 5:02 PM

Desai Presents Investor Taxation in Open Economies Today at Columbia

Mihir A. Desai (Harvard Business School) presents Investor Taxation in Open Economies (with Dhammika Dharmapala (Illinois)) at Columbia today as part of its Tax Policy Colloquium Series. Here is the abstract: Despite the rise of foreign portfolio investment (FPI) as a dominant international capital flow, existing international tax policy norms...
Posted on TaxProf Blog on November 19, 2009 at 4:30 PM

17 Tax Increases in Senate Health Care Bill = $370.2 Billion

The Joint Committee on Taxation has published a list of the 17 tax increases in the Senate health care bill, which are estimated to raise $370.2 billion in revenues over ten years: 40% excise tax on health coverage in excess of $8,500/$23,000 ($149.1 billion) Employer W-2 reporting of value of...
Posted on TaxProf Blog on November 19, 2009 at 3:49 PM

Madoff Presents Immortality and the Law: The Rising Power of the American Dead Today at BC

Ray D. Madoff (Boston College) presents her forthcoming book, Immortality and the Law: The Rising Power of the American Dead (Yale University Press, 2010), at Boston College today as part of its Legal History Roundtable. Here is the publisher's description: This book takes a riveting look at how the law...
Posted on TaxProf Blog on November 19, 2009 at 2:53 PM

More 'Super Lawyer' Per Capita Law School Rankings

Following up on my prior post, Law School Rankings by 'Super Lawyers', which blogged the Top 50 law schools by the number of "Super Lawyers" that are graduates of each school, as well as Super Lawyer ranking of the 50 largest law schools and the 50 smallest law schools. Here...
Posted on TaxProf Blog on November 19, 2009 at 2:44 PM

Philadelphia Tax Conference

The two-day 20th Annual Philadelphia Tax Conference kicks off today. For a list of speakers and their topics, see here.
Posted on TaxProf Blog on November 19, 2009 at 2:17 PM

California Tax Service Center

California tax news here....
Posted on California Tax Attorney Blog on November 19, 2009 at 8:31 AM

Caron: Section 2036 Ruling May Force Bengals Out of Cincinnati

With the Cincinnati Bengals now alone in first place in the AFC North Division, I thought it would be an opportune time to follow up last week's post (Tax Court Fumbles Substance-Over-Form Ball in Estate of Brown) and upload my article, Section 2036 Ruling May Force Bengals Out of Cincinnati,...
Posted on TaxProf Blog on November 19, 2009 at 7:15 AM

Court Lacks Jurisdiction to Order IRS to Apologize to Taxpayer

The Tax Court yesterday ruled that it lacks jurisdiction to order the IRS to apologize to a taxpayer. Caldwell v. Commissioner, T.C. Summ. Op. 2009-169 (Nov. 18, 2009): The part of Caldwell's motion which we characterize as a "Request for Apology" asks that we require the IRS to enter into...
Posted on TaxProf Blog on November 19, 2009 at 7:03 AM

A Distributional Analysis of the 50 State Tax Systems

The Institute on Taxation and Economic Policy yesterday released Who Pays? A Distributional Analysis of the Tax Systems in All 50 States: Ten states?Washington, Florida, Tennessee, South Dakota, Texas, Illinois, Michigan, Pennsylvania, Nevada, and Alabama?are particularly regressive. These ?Terrible Ten? states ask poor families?those in the bottom 20%
Posted on TaxProf Blog on November 19, 2009 at 7:00 AM

Tax Preparation Software ? Boon or Bane

In times past, everyone used to complete their tax returns by hand. With the advent of personal computers, programmers have come out with many different types of tax preparation programs specially suited for the PC (or Mac, as the case may be). These programs make it easier for taxpayers to prepare their taxes than doing it by hand. But there are so
Posted on IRS Problem Solver Blog on November 19, 2009 at 6:16 AM

Galle: Hidden Taxes

Brian D. Galle (Florida State) has published Hidden Taxes, 87 Wash. U. L. Rev. 59 (2009). Here is the abstract: The idea of hidden taxes is as old as John Stuart Mill, but convincing evidence of their existence is new. In this Article, I survey and critique recent studies that...
Posted on TaxProf Blog on November 19, 2009 at 6:15 AM

How the Tax Code Encourages Debt

The New Yorker (Nov. 23, 2009), The Debt Economy -- How the Tax Code Encourages Debt, by James Surowiecki: John Kenneth Galbraith wrote that all financial crises are the result of ?debt that, in one fashion or another, has become dangerously out of scale.? The recent financial crisis was no...
Posted on TaxProf Blog on November 19, 2009 at 2:19 AM

Senate to Move Forward on Lael Brainard's Nomination Despite Tax Problems

I previously blogged the tax problems of Lael Brainard, President Obama's nominee to be Undersecretary of the Treasury for International Affairs. The tax problems are (1) twelve late payments of real estate and personal property taxes, and late payment of unemployment taxes; (2) failure to timely file employment eligibility verification...
Posted on TaxProf Blog on November 18, 2009 at 4:47 PM

America's First $60k/Year Law School?

Last month, I asked Is UC-Hastings America's Most Expensive Law School? Its $50,310 nonresident tuition for 2010-11 was higher than that at the top law schools (which ranged from $43,900 to $50,140). Proposed tuition increases at California's four public law schools would blow the top off and create America's first...
Posted on TaxProf Blog on November 18, 2009 at 4:41 PM

House & Senate Seek to Avoid 2010 Estate Tax Repeal

Democratic leaders on the House Ways & Means Committee today announced that they would seek to pass by December 31 a one-year extension of the current estate tax ($3.5 million exemption and 45% top rate) for 2010, to avoid the scheduled repeal of estate tax in 2010. Yesterday, Senators Thomas...
Posted on TaxProf Blog on November 18, 2009 at 3:55 PM

Allison Christians Named Teacher of the Year at Wisconsin

Tax Prof Allison Christians has been named Teacher of the Year at Wisconsin. From the press release: Allison Christians was chosen Teacher of the Year from among all eligible tenure-track professors at the Law School by a poll of the three most recent classes (excluding the graduating class). Christians joined...
Posted on TaxProf Blog on November 18, 2009 at 3:05 PM

What Constitutes 'Unforeseen Circumstances' Under � 121?

David W. Randolph (Xavier University, Williams College of Business), "Unforeseen Circumstances" Exclusion From Gain on Sale of Home: Regulations and Private Letter Rulings Offer Examples of Situations the IRS Has Approved as Qualifying for Partial Exclusion of Gain (Journal of Accountancy): Single taxpayers or those married filing separately generally
Posted on TaxProf Blog on November 18, 2009 at 3:00 PM

Sad news

Earlier this week, former House of Representatives Legislative Counsel Ward Hussey died. Ward was the chief person responsible for actual drafting of the Internal Revenue Code from at least the early 1950s through the Tax Reform Act of 1986.That sounds like a left-handed compliment at best (then again, I'm left-handed and it's a strong part of my iden
Posted on Start Making Sense on November 18, 2009 at 2:10 PM

Gamage: Preventing State Budget Crises: Redefining 'Tax Cuts' and 'Tax Hikes'

David Gamage (UC-Berkeley) has posted Preventing State Budget Crises: Redefining 'Tax Cuts' and 'Tax Hikes', 98 Cal. L. Rev. ___ (2010), on SSRN. Here is the abstract: Forty-nine of the U.S. states have balanced budget requirements, and every state acts as though bound by such constraints. These constraints create fiscal...
Posted on TaxProf Blog on November 18, 2009 at 2:00 PM

5 Tips for Dealing with Claims: Tip 3

3. Last time I talked about how you can minimize the claims period by giving notice. If things break correctly, maybe the creditor won't even file the claim. But sometimes a creditor does file the claim -- informally, by sending it to the personal representative or his or her attorney instead of filing it with the court. The personal representative ca
Posted on Death and Taxes Blog on November 18, 2009 at 1:36 PM

Foundation Press Publishes 30th Law Stories Book

Foundation Press's Law Stories Series has passed an impressive milestone: there are now thirty books in the series: Administrative Law Stories (2006), edited by Peter L. Strauss (Columbia) Antitrust Stories (2007), edited by Eleanor M. Fox (NYU) & Daniel A. Crane (Cardozo) Bankruptcy Law Stories (2007), edited by Robert Rasmussen...
Posted on TaxProf Blog on November 18, 2009 at 6:48 AM

The Other Side of Healthcare Reform

Say what you will about the government's healthcare system, recent surveys show that most people approve of it. It was discovered that 56 to 60% of people gave government-run Medicare a 9 or 10 rating out of a scale of 1 to 10. Guess what proportion of policy holders gave that high a rating on their private insurance plans? Only about 40%. Hol
Posted on IRS Problem Solver Blog on November 18, 2009 at 6:15 AM

Johnson: It's Time to End the Tax Subsidy for Timber

Calvin H. Johnson (Texas) has posted Timber!, 125 Tax Notes 801 (Nov. 16, 2009), on his website. Here is the abstract: With budget deficits of $1.4 trillion, or 9.9% of GDP, we are facing a revenue crisis of epic proportions. Our tax accounting for timber produces an antitax subsidy when...
Posted on TaxProf Blog on November 18, 2009 at 6:07 AM

Lavoie: Instilling a Taxpaying Ethos

Richard Lavoie (Akron) has posted Flying Above the Law and Under the Radar: Instilling a Taxpaying Ethos in Those Playing by Their Own Rules, 29 Pace L. Rev. ___ (2009), on SSRN. Here is the abstract: These days it really does seem like "only the little people pay taxes." Whether...
Posted on TaxProf Blog on November 18, 2009 at 6:00 AM

100% More Americans Admit Offshore Tax Cheating Than IRS Expected

From the Department of Justice: The Justice Department and IRS announced that over 14,700 taxpayers have come forward to report previously-undisclosed foreign bank accounts under the voluntary disclosure program the IRS implemented following the settlement. This figure represents almost double the initial numbers the IRS announced in October and dwarfs
Posted on TaxProf Blog on November 18, 2009 at 5:20 AM

ABA Tax Section Publishes Fall 2009 Issue of News Quarterly

The ABA Tax Section has published 29 News Quarterly No. 1 (Fall 2009): Opinion Point: Management Based Definition for Domestic Corporations, by Jonathan Schwartz (Barrister, Temple Tax Chambers, London) (pp. 1, 16) Opinion Point: Saving Private Ryan's Tax Refund, by Francine J. Lipman (Chapman) (pp. 17-19) Opinion Point: What's Next...
Posted on TaxProf Blog on November 18, 2009 at 3:00 AM

2009-11-19 Posts in other Subject Areas

Academic (197), Criminal Law (187), Legal News (171), Legal Commentary (134), Legal Research (92), Religion & Law (89), Personal Injury Law (85), International Law (85), Intellectual Property Law (60), Loan Modification (58), Litigation (57), Labor & Employment Law (42), Real Estate & Property Law (39), Federal Judiciary (32), Bailout (31), Taxation & Estate Planning (28), Indiana (27), Celebrity Law (26), Miscellaneous (22), Constitutional Law (22), Corporate & Securities Law (22), Legal Writing (20), Patent Law (20), Ethics (20), Estate Planning (18), Election-Campaign Law (18), Politics (18), Bankruptcy (17), Law Students (17), Legal Niches (16), Law Humor (15), Family Law (15), Copyright Law (15), Kentucky (14), Consumer Law (11), Media & Entertainment Law (10), In-House Counsel (9), Corporate Governance (9), Legal History (9), Law Technology (9), Immigration Law (9), Legal Marketing & PR (8), Paralegals & Legal Secretaries (8), Health Law (8), Florida (7), Class Action (5), Disability Law (4), Ohio (4), Environmental Law (4), Law School (3), New Law Blogs (3), Bar Associations (3), Local Law Blogs (3), Massachusetts (3), Legal Journals (3), Practice Management (3), Education Law (3), Public Defense (3), State Courts (3), Personal Blogs (3), New York (2), Banking Law (2), Bad Cops & Prosecutors (2), Careers (2), Energy Law (2), Legal Malpractice (2), Elder Law (1), Solo Practice (1), Obama Citizenship (1), Persaonl Blogs (1), Appellate Law (1), Michigan (1), Arbitration & Mediation (1), Litigation Support (1), Trademark Law (1),