Of lenity, Chevron, and KPMG.
I. INTRODUCTION
Despite a mixed track record in challenging tax shelters in civil
enforcement actions, the federal government has started prosecuting tax
shelter cases criminally. (1) One of the . . .
Tax shelters and the Code: navigating between text and
intent.
I. INTRODUCTION
Tax shelters raise difficult problems of statutory interpretation.
In her interesting article, Of Lenity, Chevron, and KPMG, (1) Kristin
Hickman explores one of them: the recent . . .
Tax shelters, Dutch books, and the fundamental theorem of asset
pricing.
Because the tax law makes many distinctions not based on
fundamental economic differences, taxpayers can exploit these
inconsistencies to create opportunities for tax arbitrage. This article
argues . . .
Compaq redux: implicit taxes and the question of pre-tax
profit.
I. INTRODUCTION
Until recently, (1) more ink was probably spilled over the
cross-border, dividend-stripping transactions in Compaq v. Commissioner
(2) and IES Industries v. Commissioner (3) than . . .
In defense of requiring back-flips.(response to article by Leo
Katz in this issue, p. 799)
In his article, In Defense of Tax Shelters, (1) Leo Katz lives up
to his usual standard of being iconoclastic, provocative, illuminating,
and fun to read. The article challenges the conventional . . .
In defense of tax shelters.
I. INTRODUCTION
Tax shelters do not have many defenders. The lawyers who have to
defend them on behalf of a client tend to simply appeal to the
court's duty not to engage in law-making. Often . . .
State tax shelters and U.S. fiscal federalism.
I. INTRODUCTION
In his article, State Tax Shelters and the Competition for Capital,
(1) Professor Joseph Bankman offers an insightful perspective on how the
tax shelter game has played out at the . . .
State tax shelters and state taxation of capital.
I. INTRODUCTION
State income tax is a most demanding area of practice. It requires
knowledge of federal income tax, constitutional issues that play no role
in federal income tax, and the . . .
Public tax dollars for private suburban development: a first
report on a national phenomenon.
I. INTRODUCTION
A. The Riddle of "Natomas Grove"
The year is 2003 and the city council of the fictional city of
Natomas Grove is struggling with another year of the California budget
crisis. In . . .
Sourcing the "unsourceable": the cost sharing
regulations and the sourcing of affiliated intangible-related
transactions.
I. INTRODUCTION
A. Forward
A specter is haunting the international tax regime of the United
States--the specter of territorialism. For years, tax policymakers and
scholars have been divided . . .
Harnessing the costs of international tax arbitrage.
Despite attention from governments, international organizations,
and academics, the issue of international tax arbitrage, or private tax
benefits arising from the conflict of tax laws between . . .
Outlawing pension-funding shortfalls.
Before ERISA, employees faced a large risk that their employers
would default or renege on pension obligations. By creating a federal
guarantor of pensions (the PBGC), ERISA has greatly reduced . . .
Not a panacea for economic growth: the case of accelerated
depreciation.
I. INTRODUCTION
Accelerated depreciation deductions have been a tenet of U.S. tax
policy for the past fifty years. They are widely believed to promote
economic growth. (1) In this paper, I argue . . .
The aches and pains of transition to a consumption tax: can we
get there from here?
I. INTRODUCTION
Tax scholars and government policy makers are giving serious
consideration to a shift from the current income tax to a consumption
tax. (1) Even if there were agreement that a . . .
From deontology to practical application: the vision of a good
society and the tax system.
This article presents two arguments--one deontological and the
other consequential--which, jointly and separately, aim to justify
redistributive taxation and the resulting imposition of a greater . . .
Interpretative theory and tax shelter regulation.
I. INTRODUCTION
The practice of tax law is fundamentally the practice of statutory
interpretation. For the most part, though, the scholarly tax community
has been relatively indifferent to the . . .
Is it sometimes good to run budget deficits? If so, should we
admit it (out loud)?
I. INTRODUCTION
There are bad deficits and there are good deficits. What makes a
fiscal deficit good or bad depends on both the context in which the
deficit is run and the reason that the deficit . . .
Exploring the income tax treatment of borrowing and liabilities,
or why the accrual method should be eliminated.
I. INTRODUCTION
Income tax theory refers to those aspects of the income tax base
that derive from the concept of a taxpayer's "net increase in
wealth" over the taxable period (the taxable year). . . .
Commuting.(analysis of tax deductions)
This article reexamines some fundamental tax policy concepts
through the analysis of commuting expenses.
The article calls for a paradigm shift in the analysis of tax
deductions. It proposes . . .
Encouraging corporate charity.
The tax law governing corporate philanthropy is stuck in an archaic
notion of corporate charity that does not necessarily benefit either
charities or corporate stakeholders. Four developments in . . .
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