Saturday, September 30, 2017
- Seven Tax Profs Arrested On Corruption Charges In Rigging Academic Research Award
- 11th Circuit: Gay Man Cannot Deduct Costs To Father Children Through In Vitro Fertilization As Medical Expenses
- 'When Clients Sneeze, Law Firms Catch A Cold; Law Schools Get The Flu; And Law Students Contract Pneumonia'
- PwC Launches U.S. Law Firm, Seeks Market Share From BigLaw, Especially In Tax
- Law Firms Plan To Increase First Year Associate Hiring By 22%; Average Salary Is $68,000The Crit Classroom, A Battlefield: Lessons From The Student Walkout In Greg Mankiw's Harvard Econ Class
- Should Student Evaluations Rate A Professor's Inclusiveness?
- Bryan Camp (Texas Tech), Lesson From The Tax Court: The Overlooked Power Of Offset
- 2018 Wall Street Journal/Times Higher Education College Rankings
- Penn Alumni Speak Out Against Breakdown Of The 'Bourgeois Culture' Op-Ed
- Georgetown Law Profs Take A Knee To Protest Jeff Sessions' Appearance On Campus To Discuss Free Speech
California Lawmakers Approve Bill Requiring Presidential Candidates To Release Five Years Of Tax Returns
Friday, September 29, 2017
Treasury Department, Unified Framework For Fixing Our Broken Tax Code:
- American Enterprise Institute, Why Can’t the GOP Come Up With Any Serious Ideas?
- The Atlantic, How America's Vision of Progressive Tax Reform Died
- Bloomberg, The Fate of Trump’s Tax Cut Rests With These Six Senators
- Bloomberg, Potential M&A Boom from Tax Cuts Hinges on Interest Deductions
- Bloomberg, Tax Reform Could Open Up a Huge Loophole for the Wealthy
- Bloomberg, Trump Says He Expects Tax Bill Approval by Year’s End
- Bloomberg, Trump’s Tax Cuts Seen Producing Short Job Growth ‘Sugar High’
Last week the Tax Court issued an opinion in Williams v. Commissioner, T.C. Memo 2017-182. Although it involves small amounts, the opinion teaches a big lesson about the IRS power of offset
Mr. Williams filed his 2013 return reporting $503 of taxable income and withholding of $1,214. So he claimed an overpayment of $711. The IRS accepted his return as filed but did not refund the $711. Instead, it used its offset powers under section 6402(a) to credit that supposed $711 overpayment against Mr. Williams' unpaid tax liabilities from 2011. Later, the IRS audited Mr. Williams' return and proposed a deficiency of $1,403. Mr. Williams' protest to Tax Court was not the usual one. He agreed with the amount of the deficiency, but he thought that since there was not actually an overpayment, per the audit, then the IRS should not have credited that $711 to his 2011 liability but should instead apply it to his 2013 liability. After all, it was part of the wage withholding for 2013. Note that it was to Mr. Williams' benefit to pay off the most recent tax liabilities to increase the chances that the older ones would age out.
Thursday, September 28, 2017
Vox op-ed: The Republican Tax “Plan” Is a Deficit-Busting Mess. And It Would Slash the President’s Taxes, by Edward Kleinbard (USC):
Chodorow: One Of Ted Cruz’s Favorite Ideas To 'Simplify' The Tax Code Is An Attack On The Corporate Income Tax
Slate: One of Ted Cruz’s Favorite Ideas to “Simplify” the Tax Code Is Really an Attack on the Corporate Income Tax, by Adam Chodorow (Arizona State):
Generally, the Tax Code contains statutory consequences for taxpayers who fail to obey statutory commands. Most of those statutory consequences are in the form of: "Additions to Tax" found in sections 6651-6658; "Accuracy-Related and Fraud Penalties" found in sections 6662-6664; "Assessable Penalties" found in sections 6671-6725; and, of course, all the various criminal and forfeiture statutes found in 7201-7345.
But what about statutory commands imposed on the IRS? It turns out not all such commands carry a statutory hammer. Let me give one example. When the IRS assesses a tax and the tax is unpaid, section 6303 requires the IRS to send the taxpayer notice and demand for the unpaid tax within 60 days of the assessment. But the statute is silent as to what consequence, if any, should occur if the IRS sends the notice and demand later than 60 days. Treas. Reg. 301.6303-1 provides "the failure to give notice within 60 days does not invalidate the notice."
Wednesday, September 27, 2017
Yin Presents Tax Law Codification And The Emergence Of The Joint Committee On Taxation Staff Today At Penn
George Yin (Virginia), presents Codification of the Tax Law and the Emergence of the Staff of the Joint Committee on Taxation at Pennsylvania today as part of its Tax Policy Workshop Series hosted by Chris Sanchirico and Reed Shuldiner:
Melina Rocha Lukic (Getulio Vargas Foundation (FGV) Law School, Brazil) presents The Taxation on Goods and Services in Brazil: The Canadian System as a Model? at Toronto today as part of its James Hausman Tax Law and Policy Workshop Series:
I previously blogged about a great panel presentation I attended at the Fall ABA Tax Section Meeting in Austin. The presentation was about how to sue someone under § 7434 for filing a false information return.
This past week one of the panelists, Stephen Olson, has blogged more about this subject here and here. The blogs are worth calling to your attention. He dives a bit deeper into this subject to look at whether an Information Return that states the correct payment amount but is otherwise false and misleading, is sufficient to support suit under § 7434.
Tuesday, September 26, 2017
Homonoff Presents The Timing Of SNAP Issuance, Food Expenditures, And Grocery Prices Today At Columbia
Tatiana Homonoff (NYU) presents Is There an Nth of the Month Effect? The Timing of SNAP Issuance, Food Expenditures, and Grocery Prices (with Jacob Goldin (Stanford) & Katherine Meckel (Texas A&M)) at Columbia today as part of its Davis Polk & Wardwell Tax Policy Colloquium Series hosted by Alex Raskolnikov and Wojciech Kopczuk:
Perry Fleischer And Leff Present Tax Papers Today At Basic Income Earth Network Annual Congress In Lisbon
Miranda Perry Fleischer, Atlas Nods: The Libertarian Case for a Universal Basic Income:
11th Circuit: Gay Man Cannot Deduct Costs To Father Children Through In Vitro Fertilization As Medical Expenses
Monday, September 25, 2017
The European Commission published a new report on Thursday, September 21, 2017, on the taxation of the digital economy: Communication from the Commission to the European Parliament and the Council: A Fair and Efficient Tax System in the European Union for the Digital Single Market:
- This Week's Ten Most Popular TaxProf Blog Posts
- Law Prof (And Associate Dean For Academic Affairs) Kendra Fershee Announces Congressional Bid
- Law Firms Plan To Increase First Year Associate Hiring By 22%; Average Salary Is $68,000
- Helicopter Pilot Lands In Tax Court, Successfully Establishes That His Tax Home Is In Iraq
- Gamage & Shanske: Using Taxes To Support Multiple Health Insurance Risk Pools
- IFA International Tax Student Writing Competition
- BYU To Start Selling Caffeinated Soft Drinks On Campus
- The Top Five New Tax Papers
Sunday, September 24, 2017
This week's list of the Top 5 Recent Tax Paper Downloads is the same as last week's list:
- [640 Downloads] Federal Tax Procedure (2017 Practitioner Ed.), by John Townsend (Houston)
- [347 Downloads] Is Efficiency Biased?, by Zachary Liscow (Yale)
- [240 Downloads] When Did Tax Avoidance Become Respectable?, by Steven Bank (UCLA)
- [162 Downloads] Codification of the Tax Law and the Emergence of the Staff of the Joint Committee on Taxation, by George Yin (Virginia)
- [151 Downloads] Distributive Justice and Donative Intent, by Alexander A. Boni-Saenz (Chicago-Kent)
Saturday, September 23, 2017
- Controversy Over Law Profs' Op-Ed On The Breakdown Of The 'Bourgeois Culture' Shifts From Penn To San Diego
- More Law Prof Reactions To The Wax & Alexander Op-Ed On The Breakdown Of The 'Bourgeois Culture'
- The IRS Scandal, Day 1597: New Details Of Targeting Of Conservative Groups Emerge In Tea Party Lawsuits
- University Of Illinois Professor Put On Paid Leave For Refusing To Give PowerPoint Slides To Learning Disabled Student
- Emory Law Profs: Law Deans May Go To Jail For Submitting False Data To U.S. News
- Bryan Camp (Texas Tech), An Emotionally Distressing Lesson From The Tax Court
- 25% Of Law Schools Plan To Accept The GRE
- LSAT, Law School GPA, Journals, Moot Court, Contracts, Evidence Predict Bar Exam Success; UGPA, Clinics, Con Law, Crim Law, Crim Pro, Property, Torts Do Not
- Becoming 'The Nation's Premier Christian Law School'
- Rob Anderson (Pepperdine), Are LSAT/GPA A Leading Indicator, And Peer Reputation A Lagging Indicator, Of The U.S. News Overall Rankings?
Friday, September 22, 2017
- The Atlantic, Cutting Taxes Will Be Harder Than Trump Thinks
- The Atlantic, How Much Do Tax Cuts Really Matter?
- Bloomberg, Here’s How Tax Reform Could Squeeze the Middle Class
- Bloomberg, Tentative U.S. Budget-Tax Deal Gets Nod From Two Republicans
- Bloomberg View, Republicans Looking for Easiest Way Out on Taxes
The IRS Scandal, Day 1597: New Details Of Targeting Of Conservative Groups Emerge In Tea Party Lawsuits
Thursday, September 21, 2017
Last week I went to the ABA Tax Section Meeting in Austin and really enjoyed attending a terrific panel on Section 7434. The moderator was Professor Leslie Book, of Villanova School of Law and the presenters were Stephen Olsen, of Gawthrop Greenwood, PC; and Mandi Matlock, of Texas RioGrande Legal Aid Inc., Austin, TX.
Wednesday, September 20, 2017
Perkins: The Threat of Law — Is Treasury Using Regulatory Blackmail Or Responding To Congressional Inaction?
ABA Tax Section meetings are fun! Last week I attended a fascinating panel presentation at the Austin meeting titled "Beyond Bitcoin: Blockchain and the Tax System." The panel was moderated by Stow Lovejoy, of Kostelanetz & Fink, LLP and included Amanda Wilkie, CIO of Withum Smith & Brown; Tony Tuths, of KMPG in Short Hills; and Lisa Zarlenga, of Steptoe & Johnson.
Tuesday, September 19, 2017
Jordan Barry (San Diego) presents Tax and the Boundaries of the Firm (with Victor Fleischer (San Diego)) at Columbia today as part of its Davis Polk & Wardwell Tax Policy Colloquium Series hosted by Alex Raskolnikov and Wojciech Kopczuk:
I was sad to learn that at the Austin meeting the ABA Tax Section Council voted to significantly reduce the academic speaker and academic leadership reimbursement policy, retaining it only for academics who meet the Tax Section's definition of "young lawyer" (under 40 or less than 5 years in practice). I believe this is a penny-wise, pound-foolish policy change and can serve only to damage the historically salutary close ties between tax practitioners and tax academics. I think my personal involvement with the ABA Tax Section would likely be much less had those reimbursements not been available to me. I explain more below the fold.
Monday, September 18, 2017
Joseph Bankman (Stanford) presents Collecting the Rent: The Global Battle to Capture MNE Profits (with Mitchell Kane (NYU) & Alan Sykes (Stanford)) at Loyola-L.A. today as part of its Tax Policy Colloquium Series hosted by Ellen Aprill and Katherine Pratt: