Paul L. Caron
Dean





Thursday, November 16, 2023

Tazhitdinova Presents Understanding Capital Gains Responses To Taxes Using Transaction-Level Data Today At Columbia

Alisa Tazhitdinova (UC-Santa Barbara; Google Scholar) presents Understanding Capital Gains Responses to Taxes Using Transaction-Level Data at Columbia today as part of its Davis Polk & Wardwell Tax Policy Colloquium hosted by Michael Love:

Alisa-tazhitdinovaWe study how individuals' trading behavior responds to tax incentives using administrative transaction-level data on all taxable sales of broker-traded financial assets between 2011 and 2019. Our empirical design leverages a simple, salient, timing-based tax notch: in the U.S., assets held beyond one year qualify for a 10-20% reduction in capital gains rates. The size and granularity of the data allow us to study how this capital gains tax rate differentiation shapes individuals' trading behaviors across narrowly defined demographic and income groups. We find that: (1) retiming responses around the tax rate notch are weak in general; (2) individuals make clear misoptimization errors by realizing gains just before the notch; and (3) this pattern can be explained by both heterogeneous capital gains responses by asset type combined with rigidities in individual trading styles. 

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November 16, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Tuesday, November 14, 2023

Newton Presents Closing the Opportunity Gap Today At Pepperdine

Deanna Newton (Pepperdine) presents Closing the Opportunity Gap at Pepperdine today as part of its Faculty Workshop Series hosted by Jacob Charles: 

Newton (2023)Opportunity Zones are low-income areas or economically distressed communities in the United States. The Opportunity Zone program encourages investment in low-income areas or economically distressed communities by offering investors tax benefits. Scholars have found little evidence that Opportunity Zones positively impact zone residents’ lives, concluding that Opportunity Zone legislation mostly benefits wealthy investors and should be reformed to benefit community members better. Investors are currently not required to finance projects geared toward the needs of local communities; they are instead funding developments they would have already invested in, whether located in an Opportunity Zone or not. This Article argues that current reform efforts and related scholarship do not give adequate weight to active and direct participation by community members and investors as it relates to economic development tax incentives. It argues for a comprehensive framework that focuses on active, direct, and transformative participation by community members and investors.

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November 14, 2023 in Colloquia, Pepperdine Legal Ed, Pepperdine Tax, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Mehrotra Presents American Economic Inequality, Fiscal Exceptionalism, And Resistance To Consumption Taxes Today At NYU

Ajay Mehrotra (Northwestern; Google Scholar) presents The Missing U.S. VAT: Economic Inequality, American Fiscal Exceptionalism, and the Historical U.S. Resistance to National Consumption Taxes at NYU today as part of its Tax Policy and Public Finance Colloquium hosted by Daniel Shaviro:

Ajay mehrotraSince the 1970s, economic inequality has soared dramatically across the globe and particularly in the United States. In that time, one of the obstacles of using fiscal policy to address inequality has been the growing myth of the “overtaxed American”—the misguided notion that U.S. taxpayers pay more in taxes than residents of other advanced, industrialized countries. This myth has persisted, in part, because of the peculiar and distinctive nature of the fractured American fiscal and social welfare state. Even a cursory review of comparative tax data shows that the United States, by most measures, is a low-tax country compared to other affluent nations. One reason for this shortfall is the missing U.S. value-added tax (VAT).

Unlike the United States, other developed countries fund robust social spending through a balanced mix of levies, including by relying on broad-based national consumption taxes such as a VAT, which produces a tremendous amount of government revenue.

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November 14, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Monday, November 13, 2023

Stewart & Maynard Present Tax Papers Today At Boston College

Miranda Stewart (Melbourne) presents The Future of Tax Jurisdiction at Boston College at 12:00 pm ET today as part of its Tax Policy Collaborative hosted by James Repetti and Diane Ring:

Miranda stewartTax jurisdiction is a legal concept, but is fundamentally dependent on state capacity, technology and politics. The jurisdictional boundaries of the tax state are in turn crucial in delimiting its taxing power. Governments can enhance tax capability by cooperating with each other and with global intermediaries and by adopting new technologies, but also take contradictory steps to abrogate tax jurisdiction. This article considers how tax jurisdictional concepts, in particular residence, source and the location of consumption, are changing as the capability of states to tax labour, capital and consumption changes in a global digital economy. The article illustrates the discussion with some examples of tax jurisdiction for individuals as residents, workers, investors or consumers; and for corporations, including recent global developments aimed at taxation of multinational enterprises. These changes are occurring through contestation in the borderlands of the tax state, between multiple states and non-state actors. The process could enhance states’ jurisdiction to tax in diverse ways, while denationalizing international tax law making in an evolving multilateral reality.

Goldburn P. Maynard, Jr. (Indiana-Kelley Business School; Google Scholar) presents Unfulfilled Promises of the FinTech Revolution, 111 Cal. L. Rev. ___ (2023) (with Lindsay Sain Jones (Georgia-Terry Business School; Google Scholar)) at Boston College at 5:00 PM ET today as part of its Boston College Tax Policy Collaborative hosted by James Repetti and Diane Ring:

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November 13, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Stark Presents Retrofitting Prop 13 Through The Personal Income Tax Today At San Diego

Kirk J. Stark (UCLA) presents Retrofitting Prop 13 Through the Personal Income Tax at San Diego today as part of its Tax Speaker Series hosted by Miranda Fleischer:

Kirk starkUnder constitutional limitations on California’s local property tax introduced via Proposition 13 in June 1978, homeowners are generally taxed not on the fair market value of their homes but rather the property’s historic cost. As home prices rise over time, this “acquisition value” feature has two predictable effects: (1) it results in significant property tax disparities, favoring longtime homeowners relative to more recent purchasers, and (2) it discourages homeowners from moving because of the increased property tax burdens associated with purchasing a new home. Less widely recognized is the offsetting effect of a longstanding feature of California’s income tax: the deduction for local property taxes. By directing a larger subsidy to those with higher property taxes, this provision favors recent homebuyers facing market-value property taxes relative to longtime owners with constitutionally limited assessed valuations. It also mitigates to some degree Prop 13’s lock-in effect by reducing the effective property tax rate for those who purchase new homes.

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November 13, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Friday, November 10, 2023

Next Week’s Tax Workshops

Next Week's Tax Workshops - linkedinMonday, November 13: Miranda Stewart (Melbourne) will present The Future of Tax Jurisdiction as part of the Boston College Tax Policy Collaborative. If you would like to attend, please contact James Repetti or Diane Ring.

Monday, November 13: Goldburn P. Maynard, Jr. (Indiana-Kelley Business School; Google Scholar) will present Unfulfilled Promises of the FinTech Revolution, 111 Cal. L. Rev. ___ (2023) (with Lindsay Sain Jones (Georgia-Terry Business School; Google Scholar)) as part of the Boston College Tax Policy Collaborative. If you would like to attend, please contact James Repetti or Diane Ring.

Monday, November 13: Kirk J. Stark (UCLA) will present Retrofitting Prop 13 through the Income Tax as part of the San Diego Tax Law Speaker Series. If you would like to attend, please contact Miranda Fleischer

Tuesday, November 14: Deanna Newton (Pepperdine) will present Closing the Opportunity Gap as part of the Pepperdine Faculty Workshop Series. If you would like to attend, please contact Jacob Charles

Tuesday, November 14: Ajay Mehrotra (Northwestern; Google Scholar) will present The Missing U.S. Vat: Economic Inequality, American Fiscal Exceptionalism, and the Historical U.S. Resistance to National Consumption Taxes as part of the NYU Tax Policy and Public Finance Colloquium. If you would like to attend, please contact Daniel Shaviro

Thursday, November 16: Alisa Tazhitdinova (UC-Santa Barbara; Google Scholar) will present Understanding Capital Gains Responses to Taxes Using Transaction-Level Data as part of the Columbia Davis Polk & Wardwell Tax Policy Colloquium. If you would like to attend, please contact Michael Love.

Friday, November 17: Sarah Lawsky (Northwestern; Google Scholar) will present Reasoning with Formalized Statutes: The Case of Capital Gains and Losses as part of the Boston College Tax Policy Collaborative. If you would like to attend, please contact James Repetti or Diane Ring.

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November 10, 2023 in Colloquia, Legal Education, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Wednesday, November 8, 2023

Kim Presents Taxing The Metaverse Today At St. Louis

Young Ran (Christine) Kim (Cardozo; Google Scholar) presents Taxing the Metaverse, 112 Geo. L.J. ___ (2024), at St. Louis today as part of its Faculty Workshop hosted by Henry Ordower:

Christine KimThe buzz surrounding the Metaverse has been growing steadily for the past couple of years, but the tax implications of this novel ecosystem remain fuzzy to most tax scholars. Such uncertainty is concerning, given the potential and momentum of this emerging technology. Although the Metaverse evolved from online video games focused only on user consumption, it now allows users to produce income and accumulate wealth entirely within the Metaverse. Current law seems to defer taxation of such until a realization or cash-out event. This paper challenges this approach.

This paper offers novel arguments justifying Metaverse taxation. Because economic activity within the Metaverse satisfies the Haig-Simons and Glenshaw Glass definitions of income, its exclusion will create a tax haven. Tax policy can also play an essential role in regulating the virtual economy. Furthermore, this emerging technology allows policymakers to modernize the tax system. 

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November 8, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Monday, November 6, 2023

McQuillan Presents The Health Wedge And Labor Market Inequality Today At Loyola-L.A.

Casey McQuillan (Ph.D. Candidate, Princeton) presents The Health Wedge and Labor Market Inequality (with Amy Finklestein (MIT), Owen Zidar (Princeton) & Eric Zwick (Chicago)) at Loyola-L.A. today as part of its Tax Policy Colloquium hosted by Katie Pratt:

Casey mcquillanThe uniquely American approach to providing health insurance through employers is a little-recognized but important driver of increasing labor market inequality, suggests a paper discussed at the Brookings Papers on Economic Activity (BPEA) conference on March 31.

The authors—Amy Finkelstein of the Massachusetts Institute of Technology, Casey McQuillan and Owen Zidar of Princeton University, and Eric Zwick of the University of Chicago—use a stylized model of the labor market to compare the current system, in which about half of Americans are covered by employer-provided health insurance, to a hypothetical system in which health insurance is financed by a payroll tax, similar in spirit to the universal health insurance in countries such as Germany and Canada.

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November 6, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Friday, November 3, 2023

Next Week’s Tax Workshops

Next Week's Tax Workshops - twitterMonday, November 6: Casey McQuillan (Princeton) will present The Health Wedge and Labor Market Inequality (with Amy Finklestein (MIT), Owen Zidar (Princeton) & Eric Zwick (Chicago)) as part of the Loyola-L.A. Tax Policy Colloquium. If you would like to attend, please RSVP here

Thursday, November 9: Nyamagaga Gondwe (Wisconsin; Google Scholar) will present No Exit: How Tax-Based Welfare Reform Influences Cycles of Intimate Partner Violence Victimization as part of the Columbia Davis Polk & Wardwell Tax Policy Colloquium. If you would like to attend, please contact Michael Love

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November 3, 2023 in Colloquia, Legal Education, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Thursday, November 2, 2023

Field Presents Tax Enforcement By The Private Sector: Deputizing Tax Insurers Today At San Diego

Heather Field (UC-San Francisco; Google Scholar) presents Tax Enforcement by the Private Sector: Deputizing Tax Insurers, 99 Ind. L. J. _ (2024), at San Diego today as part of its Tax Law Speaker Series hosted by Miranda Fleischer:

Heather-fieldThe IRS is outgunned when trying to ensure compliance by large corporations and other sophisticated taxpayers.  The private sector can help.  Private sector actors, such as financial institutions, employers, and whistleblowers, have been valuable allies in the IRS’s efforts to improve compliance and enforcement.  This Article argues for using another, largely overlooked, private sector party—tax insurers—to expand the IRS’s enforcement abilities.  Tax insurers insure sophisticated taxpayers’ uncertain tax positions (e.g., the tax-free treatment of a corporate spinoff or tax credits critical to a renewable energy project).  For a premium, a tax insurer agrees to pay any additional taxes owed with interest and penalties (up to the policy limit) if an insured tax position is successfully challenged by a tax authority.  The tax insurance industry has grown dramatically since the mid-2010s, but scholars and policymakers pay little attention to its enforcement-enhancing potential.  

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November 2, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Wednesday, November 1, 2023

Dyreng Presents Tax Deficits And The Income Shifting Of U.S. Multinationals Today At Duke

Scott Dyreng (Duke-Fuqua; Google Scholar) presents Tax Deficits and the Income Shifting of U.S. Multinationals (with Robert Hills (Penn State; Google Scholar) & Kevin Markle (Michigan State; Google Scholar)) at Duke today as part of its Faculty Workshop Series

Scott-dyrengSignificant controversy has emerged about the scope of the international tax planning of U.S. multinational firms, with estimates of income shifted out of the U.S., profits recognized in tax havens, and revenue loss ballooning over time. Most studies that derive these empirical estimates use macroeconomic data which support inferences drawn at an aggregate level but are not conducive to analyses at more granular levels. In this study, we use microeconomic data from firms’ publicly available financial statements to derive firm-year estimates that we use to evaluate existing aggregate estimates. We find that many estimates based on macroeconomic data are significantly overstated. We also use our firm-year estimates to analyze the distributions of these amounts within the economy. We show that all dimensions of international tax planning are concentrated in three industries and dominated by a small number of very large firms.

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November 1, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Monday, October 30, 2023

Chater Presents How Focusing On Individual-Level Solutions Has Led Behavioral Public Policy Astray Today At Loyola-L.A.

Nick Chater (Warwick; Google Scholar) presents The i-Frame and the s-Frame: How Focusing on Individual-Level Solutions Has Led Behavioral Public Policy Astray (with George Loewenstein (Carnegie Mellon; Google Scholar)) at Loyola-L.A. today as part of its Tax Policy Colloquium hosted by Katie Pratt:

Nick-chaterAn influential line of thinking in behavioral science, to which the two authors have long subscribed, is that many of society’s most pressing problems can be addressed cheaply and effectively at the level of the individual, without modifying the system in which individuals operate. Along with, we suspect, many colleagues in both academic and policy communities, we now believe this was a mistake. Results from such interventions have been disappointingly modest. But more importantly, they have guided many (though by no means all) behavioral scientists to frame policy problems in individual, not systemic, terms: to adopt what we call the “i-frame,” rather than the “s-frame.” The difference may be more consequential than those who have operated within the i-frame have understood, in deflecting attention and support away from s-frame policies. Indeed, highlighting the i-frame is a long-established objective of corporate opponents of concerted systemic action such as regulation and taxation. 

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October 30, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Friday, October 27, 2023

Next Week’s Tax Workshops

Next Week's Tax Workshops - linkedinMonday, October 30: Nick Chater (Warwick; Google Scholar) will present The i-Frame and the s-Frame: How Focusing on Individual-Level Solutions Has Led Behavioral Public Policy Astray (with George Loewenstein (Carnegie Mellon; Google Scholar))  as part of the Loyola-L.A. Tax Policy Colloquium. If you would like to attend, please contact Katie Pratt

Wednesday, November 1: Scott Dyreng (Duke-Fuqua; Google Scholar) will present Tax Deficits and the Income Shifting of U.S. Multinationals (with Robert Hills (Penn State; Google Scholar) & Kevin Markle (Michigan State; Google Scholar)) as part of the Duke Faculty Workshop Series

Thursday, November 2: Heather Field (UC-San Francisco; Google Scholar) will present Tax Enforcement by the Private Sector: Deputizing Tax Insurers, 99 Ind. L. J. _ (2024), as part of the San Diego Tax Law Speaker Series. If you would like to attend, please contact Miranda Fleischer.

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October 27, 2023 in Colloquia, Legal Education, Scholarship, Tax, Tax Scholarship, Tax Workshops | Permalink

Tuesday, October 24, 2023

Clausing Presents Capital Taxation And Market Power Today At NYU

Kimberly Clausing (UCLA; Google Scholar) presents Capital Taxation And Market Power at NYU today as part of its Tax Policy and Public Finance Colloquium hosted by Daniel Shaviro:

Kim-clausingIn recent decades, market power has increased substantially, according to multiple measures that describe industry concentration, mark-ups, and business profitability. While market power can generate benefits, it also raises vexing policy concerns, including the potential for adverse effects on labor markets, income inequality, and the dynamism of market competition. The concept of market power also has implications for how we conceptualize capital income, making it important to distinguish between normal and above-normal returns to capital. The tax system taxes both types of returns to capital, but often imperfectly and incompletely. Full consideration of the relationship between market power and capital income suggests important implications for optimal capital taxation design, including the role of entity taxation, the use of graduated business tax rates, and international tax reform.

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October 24, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Monday, October 23, 2023

Brooks Presents The Sixteenth Amendment And Congress’s Income Tax Power Today At San Diego

John (Jake) Brooks (Fordham; Google Scholar) presents The Sixteenth Amendment And Congress’s Income Tax Power (with David Gamage (Indiana-Maurer; Google Scholar)) at San Diego today as part of its Tax Law Speaker Series hosted by Miranda Fleischer: 

John-brooksThe upcoming Supreme Court case of Moore v. United States raises questions that the Court has rarely had to address in the last 100 years—what is the meaning of the Sixteenth Amendment and Congress’s income tax power? Does that power only extend to realized income? And what does "realization" mean? The taxpayers in Moore (and the Ninth Circuit judges who dissented from the denial of rehearing en banc) argue that realization is necessarily a part of the meaning of “income” in the Sixteenth Amendment—i.e., that there must be some act of separation or conversion of property into cash or other property in order for there to be “income.” They are, in essence, aiming to revive a disputed reading of the discredited 1920 case of Eisner v. Macomber.

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October 23, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Brauner Presents Taxing People, Not Residents Today At Loyola-L.A.

Yariv Brauner (Florida; Google Scholar) presents Taxing People, Not Residents at Loyola-L.A. today as part of its Tax Policy Colloquium hosted by Katie Pratt:

Yariv-braunerEssentially all states tax their residents’ worldwide income. This norm is difficult to justify beyond vague notions of state provided benefits enjoyed by residents. Past limited mobility of individuals curbed challenges to the desirability of residence taxation. Recent increased mobility (particularly mobility of wealthy individuals) and the growing importance of remote work and digital nomadism renew such challenges, especially in light of multiple new tax residence schemes, such as residence-for- investment and non domicile residence (non) taxation, that deviate from traditional ideas of residence.

The erosion of individual tax residence in the twenty-first century raises the question of alternatives. This draft examines whether exclusive source taxation of individuals could replace the existing rules which are based on a compromise between residence and source taxation. 

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October 23, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Friday, October 20, 2023

Next Week’s Tax Workshops

Next Week's Tax Workshops - linkedinMonday, October 23: Yariv Brauner (Florida; Google Scholar) will present Taxing People, Not Residents as part of the Loyola-L.A. Tax Policy Colloquium. If you would like to attend, please contact Katie Pratt

Monday, October 23: John (Jake) Brooks (Fordham; Google Scholar) will present The Sixteenth Amendment And Congress’s Income Tax Power (with David Gamage (Indiana-Maurer; Google Scholar)) as part of the San Diego Tax Law Speaker Series. If you would like to attend, please contact Miranda Fleischer

Tuesday, October 24: Kimberly Clausing (UCLA; Google Scholar) will present Capital Taxation And Market Power as part of the NYU Tax Policy and Public Finance Colloquium. If you would like to attend, please contact Daniel Shaviro

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October 20, 2023 in Colloquia, Legal Education, Scholarship, Tax, Tax Scholarship, Tax Workshops | Permalink

Polsky Presents U.S. Taxation Of Private Equity And Venture Capital Today At Florida

Polsky-florida-10.20.23

Gregg D. Polsky (Georgia; Google Scholar) presents U.S. Taxation of Private Equity and Venture Capital at Florida today as part of its Tax Colloquium hosted by Yariv Brauner:

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October 20, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Agrawal Presents State & Local Governments As Tax Havens? Today At University Of British Columbia

Agrawal-ubc-10.20.23
David R Agrawal
(Kentucky; Google Scholar) presents Hidden Havens: State and Local Governments as Tax Havens? at Peter A. Allard School of Law, University of British Columbia today as part of itsTax Law and Policy Speaker Series hosted by Wei Cui:

An international tax haven is usually a low-tax jurisdiction that seeks to attract investment by foreign investors. But, there are many state and local jurisdictions within federal systems that set zero tax rates on personal or corporate income, consumption, property, and wealth in an effort to attract activity from other high-tax jurisdictions. This paper discusses whether subnational tax havens are distinct from intense tax competition, and concludes that in a federal system, the economic implications of the two may be similar, but the policy responses differ subtly. 

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October 20, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Thursday, October 19, 2023

Fleischer Presents Tax Optics: The Inflation Reduction Act Of 2022 Today At Columbia

Victor Fleischer (UC-Irvine; Google Scholar) presents Tax Optics: The Inflation Reduction Act of 2022 at Columbia today as part of its Davis Polk & Wardwell Tax Policy Colloquium hosted by Michael Love: 

Vic-fleischerThis Article argues that understanding optics—how legislation appears to average voters, as opposed to how it appears to experts—is critical to understanding how and why the tax legislation that makes it into law looks so different from the tax policy preferences of Congressional and Treasury staff, academics and other policy experts.

This Article evaluates the Inflation Reduction Act through the lens of tax optics. I argue that optics, not policy or politics alone, best explains why the final bill looks like it does.

To illustrate my argument, I start with one part of the Build Back Better agenda that did not make it into law—carried interest reform—before turning to the Inflation Reduction Act. Each section of the Inflation Reduction Act reflects, at least in part, the importance of optics in the modern tax legislative process. In concrete ways, the resulting legislation takes advantage of common errors in tax policy analysis, such as focusing on tax rates rather than the tax base, focusing on the nominal incidence of a tax rather than the economic incidence of a tax, and discounting the perceived cost of tax expenditures compared to direct spending.

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October 19, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Tuesday, October 17, 2023

Christians Presents Taxing Big Data When the United States Disagrees Today At UC-San Francisco

Allison Christians (McGill; Google Scholar) presents Taxing Big Data When the United States Disagrees (with Tarcísio Diniz Magalhães (Antwerp; Google Scholar)) at UC-San Francisco today as part of its Tax Speaker Series:

Allison-christiansWhy might countries seek to tax Big Data, and if there are good reasons to do so, what kind of rules would be most feasible to adopt without contravening the existing global legal architecture? A number of countries have begun imposing stand-alone digital services taxes pending multilateral agreement on a coordinated solution (aka pillar 1). But if pillar 1 fails to materialize, the United States and U.S. firms will likely seek redress against these unilateral taxes through trade and investment regimes. This Article argues that alternative legal approaches might be less exposed to the same pushback. In particular, unilaterally extending domestic withholding tax regimes to specified digital services fees might be the best option to tax Big Data when the United States disagrees. 

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October 17, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Monday, October 16, 2023

Mehrotra Presents Economic Implications Of The Climate Provisions Of The Inflation Reduction Act Today At Loyola-L.A.

Neil Mehrotra (Federal Reserve Bank of Minneapolis; Google Scholar) presents Economic Implications of the Climate Provisions of the Inflation Reduction Act (with John Bistline (Electric Power Research Institute) & Catherine Wolfram (MIT)) at Loyola-L.A. today as part of its Tax Policy Colloquium hosted by Katie Pratt:

Neil-mehrotraThe climate provisions of the Inflation Reduction Act (IRA) signed by President Biden in August could dramatically transform the energy sector of the U.S. economy, but the costs and the extent of new investment are highly uncertain, suggests a paper discussed at the Brookings Papers on Economic Activity (BPEA) conference on March 30, 2023.

“The problem IRA confronts is massive—re-orienting the way the U.S. and global economies produce and consume energy,” write the authors—John Bistline of the Electric Power Research Institute, Neil R. Mehrotra of the Federal Reserve Bank of Minneapolis, and Catherine Wolfram of Harvard University (on leave from the University of California-Berkeley). “IRA’s incentives span the entire energy sector, from producers of raw materials to end-use consumers, and will set considerable new forces in motion.”

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October 16, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Friday, October 13, 2023

Next Week’s Tax Workshops

Next Week's Tax Workshops - linkedinMonday, October 16: Neil Mehrotra (Federal Reserve Bank of Minneapolis; Google Scholar) will present Economic Implications of the Climate Provisions of the Inflation Reduction Act (with John Bistline (Electric Power Research Institute) & Catherine Wolfram (MIT)) as part of the Loyola-L.A. Tax Policy Colloquium. If you would like to attend, please RSVP here

Tuesday, October 17: Allison Christians (McGill; Google Scholar) will present Taxing Big Data When the United States Disagrees (with Tarcísio Diniz Magalhães (Antwerp; Google Scholar)) as part of the UC-San Francisco Tax Speaker Series. If you would like to attend, please contact Heather Field

Tuesday, October 17: David M. Schizer (Columbia) will present Red, White, and Blue—and Also Green: How Energy Policy Can Protect Both National Security and the Environment as part of the the UBC Tax Law and Policy Speaker Series. If you would like to attend, please contact Wei Cui

Thursday, October 19: Victor Fleischer (UC-Irvine; Google Scholar) will present Tax Optics: The Inflation Reduction Act of 2022 as part of the Columbia Davis Polk & Wardwell Tax Policy Colloquium. If you would like to attend, please contact Michael Love.

Friday, October 20: Gregg D. Polsky (Georgia; Google Scholar) will present as part of the Florida Tax Colloquium. If you would like to attend, please contact Yariv Brauner

Friday, October 20: David R Agrawal (Kentucky; Google Scholar) will present Hidden Havens: State and Local Governments as Tax Havens? as part of the UBC Tax Law and Policy Speaker Series. If you would like to attend, please contact Wei Cui

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October 13, 2023 in Colloquia, Legal Education, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Thursday, October 12, 2023

Givati Presents Tax Law Enforcement And Redistributive Politics Today At Columbia

Yehonatan Givati (Hebrew University) presents Tax Law Enforcement and Redistributive Politics (with Andrew Hayashi (Virginia; Google Scholar)) at Columbia today as part of its Davis Polk & Wardwell Tax Policy Colloquium hosted by Michael Love:

Yehonatan givatiThe Inflation Reduction Act signed by President Biden on August 16, 2022, allocated $80 billion in additional funding for the IRS. While Democrats unanimously supported the bill, not a single Republican voted in favor of it. The first legislation advanced by the new Republican majority this year was to repeal this increase in IRS funding. Given the diminished state of IRS enforcement capacity, increasing the resources devoted to tax enforcement seems like an obvious imperative without a clear partisan valence. One might think that political and ideological battles would be fought over what the tax law is, not whether the IRS has the resources to enforce it. But IRS funding has become a major political point of contention. Why is tax law enforcement such a partisan issue?

In this Article we propose an answer. We argue that the income tax is the primary instrument for income redistribution, and so the efficacy of tax enforcement shapes people’s support for redistribution. When the IRS makes sure people pay their taxes, support for income redistribution increases. And when the IRS is unable to enforce the nation’s tax laws, support for income redistribution decreases. Thus, for political progressives increasing tax enforcement generates a double dividend. It both provides more funds for redistribution and also increases political support for redistribution, which can then be translated into redistributive changes to the tax law. For symmetric reasons, reducing tax enforcement generates a double dividend for those who disfavor income redistribution.

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October 12, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Tuesday, October 10, 2023

Bearer-Friend Presents Race-Based Tax Weapons Today At NYU

Jeremy Bearer-Friend (George Washington; Google Scholar) presents Race-Based Tax Weapons, 14 U.C. Irvine L. Rev. __ (2023), at NYU today as part of its Tax Policy and Public Finance Colloquium hosted by Daniel Shaviro: 

Bearer-Friend (2021)In the United States, the term “poll tax” often refers to a very specific tactic of white supremacy: the use of tax policy to prevent voting by Black citizens. While “poll tax” is an accurate descriptor of these taxes, poll taxes have a much more expansive history within the twentieth century. Following in the rich tradition of comparative tax scholarship that looks at multiple jurisdictions to arrive at broader tax policy conclusions, this Article examines four distinct poll taxes applied by Anglophone governments in the twentieth century to illustrate a broad phenomenon I call “tax weapons”—the use of tax policy to harm political adversaries.

The primary contribution of this comparative research on twentieth century poll taxes is to further demonstrate how universal language in tax statutes can be used to effectively target political rivals, with a focus on the targeting of taxpayers by race, ethnicity, or ancestry. By contrasting two poll taxes where race, ethnicity, or ancestry are explicitly mentioned in the law with two poll taxes where there is no mention of race, ethnicity, or ancestry, I uncover that the poll taxes that do not mention specific targets can be equally effective—if not more effective—at achieving discriminatory goals than poll taxes that specify their targets.

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October 10, 2023 in Colloquia, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Monday, October 9, 2023

Brauner Presents Taxing People, Not Residents Today At Florida

10-9-23-Brauner-Internal-Workshop-RevisedYariv Brauner (Florida; Google Scholar) presents Taxing People, Not Residents at Florida today as part of its Marshall M. Criser Distinguished Internal Faculty Workshop:

Essentially all states tax their residents’ worldwide income. This norm is difficult to justify beyond vague notions of state provided benefits enjoyed by residents. Past limited mobility of individuals curbed challenges to the desirability of residence taxation. Recent increased mobility (particularly mobility of wealthy individuals) and the growing importance of remote work and digital nomadism renew such challenges, especially considering multiple new tax residence schemes, such as residence-for-investment and non-domicile residence (non) taxation, that deviate from traditional ideas of residence.

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October 9, 2023 in Colloquia, Scholarship, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Friday, October 6, 2023

Next Week’s Tax Workshops

Next Week's Tax Workshops - linkedinMonday, October 9: Yariv Brauner (Florida; Google Scholar) will present Taxing People, Not Residents as part of the Florida Marshall M. Criser Distinguished Faculty Workshop. If you would like to attend, please contact Yariv Brauner

Tuesday, October 10: Jeremy Bearer-Friend (George Washington; Google Scholar) will present Race-Based Tax Weapons, 14 U.C. Irvine L. Rev. __ (2023), as part of the NYU Tax Policy and Public Finance Colloquium. If you would like to attend, please contact Daniel Shaviro

Thursday, October 12:  Yehonatan Givati (Hebrew University) will present Tax Law Enforcement and Redistributive Politics (with Andrew Hayashi (Virginia; Google Scholar)) as part of the Columbia Davis Polk & Wardwell Tax Policy Colloquium. If you would like to attend, please contact Michael Love

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October 6, 2023 in Colloquia, Legal Education, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Sugin Presents Proxy Taxes Today At Boston College

Linda Sugin (Fordham; Google Scholar) presents Proxy Taxes at Boston College today as part of its Tax Policy Workshop hosted by Jim Repetti and Diane Ring:

Linda-suginThis article offers a conceptual and theoretical framework for seemingly oddball and unprincipled provisions in the Internal Revenue Code, praising them for increasing progressivity and producing revenue. “Proxy taxes” impose liability on taxpayers with ability to pay who are connected, in some way, to income earners who pay insufficient or no tax on that income. Given the combination of rising income and wealth inequality and the political impossibility of raising taxes on income in a straightforward way, policymakers should embrace proxy taxes as a flexible solution to a pressing tax justice problem. This article argues that proxy taxes contribute to a more comprehensive income tax system, despite their departure from classic income tax principles, and can also be more efficient than higher taxes imposed on income.

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October 6, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Thursday, October 5, 2023

Sarin Presents The Coming Fiscal Cliff: A Blueprint For Tax Reform In 2025 Today At Columbia

Natasha Sarin (Yale; Google Scholar) presents The Coming Fiscal Cliff: A Blueprint for Tax Reform in 2025 (with Kimberly Clausing (UCLA; Google Scholar)) at Columbia today as part of its Davis Polk & Wardwell Tax Policy Colloquium hosted by Michael Love:

Natasha-sarinAt the end of 2025, almost all of the individual, estate, and pass-through provisions of the Tax Cuts and Jobs Act (TCJA) will expire. This looming expiration creates an important opportunity to improve tax policy along multiple dimensions at the same time that TCJA provisions are evaluated for possible extension. In this paper, we suggest four key principles to guide tax policy choices in 2025: first, reforms should raise revenue on net, improving fiscal sustainability; second, reforms should respond to persistent inequalities by increasing the progressivity of the tax code; third, reforms should work to reduce tax-based inefficiencies in the code, and finally, reforms should address global collective action problems such as climate change and tax competition. Using these principles as a guide, we then evaluate possible TCJA extensions and consider a menu of revenue-raising reforms that together have the potential to raise about $3.5 trillion over the coming decade, while improving the progressivity and efficiency of the tax system.

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October 5, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Monday, October 2, 2023

Raghavan & Herrine Present Two Papers Today At Loyola-L.A.

Vijay Raghavan (Brooklyn) and Luke Herrine (Alabama) present two papers at Loyola-L.A. today as part of its Tax Policy Colloquium hosted by Ted Seto. 

Raghavan-herrineVijay Raghavan, The Case Against The Debt Tax, 91 Fordham L. Rev. 1849 (2023): 

Americans are increasingly agitating for debt relief. In the last decade, there have been national campaigns to cancel student debt, credit card debt, and mortgage debt. These national campaigns have paralleled local efforts to cancel taxi medallion debt, carceral debt, and lunch debt. But as the public increasingly pursues broad-scale debt relief outside bankruptcy, they face an important institutional obstacle: canceled debt is generally taxable.

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October 2, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Friday, September 29, 2023

Next Week’s Tax Workshops

Next Week's Tax Workshops - linkedinMonday, October 2: Vijay Raghavan (Brooklyn) will present The Case Against The Debt Tax, 91 Fordham L. Rev. 1849 (2023), and Reconsidering the Tax Treatment of COD Income (with Luke Herrine (Alabama)), as part of the Loyola-L.A. Tax Policy Colloquium. If you would like to attend, please RSVP here

Thursday, October 5: Natasha Sarin (Yale; Google Scholar) will present The Coming Fiscal Cliff: A Blueprint for Tax Reform in 2025 (with Kimberly Clausing (UCLA; Google Scholar)) as part of the Columbia Davis Polk & Wardwell Tax Policy Colloquium. If you would like to attend, please contact Michael Love

Friday, October 6: Linda Sugin (Fordham; Google Scholar) will present Proxy Taxes as part of the Boston College Tax Policy Workshop. If you would like to attend, please contact Jim Repetti or Diane Ring

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September 29, 2023 in Colloquia, Legal Education, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Thursday, September 28, 2023

Brooks Presents The Sixteenth Amendment And The Meaning Of ‘Income’ Today At Columbia

John Brooks (Fordham; Google Scholar) presents The Sixteenth Amendment and the Meaning of "Income" (with David Gamage (Indiana-Maurer; Google Scholar)) at Columbia today as part of its Davis Polk & Wardwell Tax Policy Colloquium hosted by Michael Love:

John-brooksThe upcoming Supreme Court case of Moore v. United States raises questions that the Court has rarely had to address in the last 100 years—what is the meaning of income under the Sixteenth Amendment, and of the Sixteenth Amendment generally? And furthermore, is realization required before the gain from property ownership can be treated as income? And what does realization mean? The taxpayers in Moore (and the Ninth Circuit judges who dissented from the denial of rehearing en banc) argue that realization is necessarily a part of the meaning of “income” in the Sixteenth Amendment—i.e., that there must be some act of separation or conversion of property into cash or other property in order for there to be “income.” They are, in essence, aiming to revive a disputed reading of the discredited 1920 case of Eisner v. Macomber.

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September 28, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Tuesday, September 26, 2023

Kysar Presents The Global Tax Deal And The New International Economic Order Today At NYU

Rebecca Kysar (Fordham; Google Scholar) presents The Global Tax Deal and the New International Economic Order at NYU today as part of its Tax Policy and Public Finance Colloquium hosted by Daniel Shaviro:

Kysar (2018)The ethos of economic integration and trade liberation no longer reigns supreme. Instead of multilateral trade agreements, nations are turning towards protectionism and unilateralism. Yet in late 2021, nearly 140 countries agreed to a new international tax system that is aimed at levelling the playing field among them, curtailing competition on corporate tax rates and corporate profit shifting to tax havens through a new global minimum tax as well as constructing a new allocation of taxing rights among nations.

Although multilateral trade agreements now seem out of reach, tax multilateralism is ascendant. This is surprising given the deep connection between taxation and national sovereignty. It also perplexing since international tax does not exhibit the same theoretical harmony between national and worldwide welfare that international trade enjoys. The traditional account offered by economists is that trade liberalization is a rising tide that will lift all boats because countries will produce according to their competitive advantages and trade the rest, making trade suitable for international coordination. In contrast, tax is largely described as a zero-sum contest for a fixed pot of tax revenues, deeming it ill-suited for collective action.

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September 26, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Friday, September 22, 2023

Next Week’s Tax Workshops

Next Week's Tax Workshops - twitterTuesday, September 26: Rebecca Kysar (Fordham; Google Scholar) will present The Global Tax Deal and the New International Economic Order as part of the NYU Tax Policy and Public Finance Colloquium. If you would like to attend, please contact Daniel Shaviro

Thursday, September 28John Brooks (Fordham; Google Scholar) will present The Sixteenth Amendment and the Meaning of "Income" (with David Gamage (Indiana-Maurer; Google Scholar)) as part of the Columbia Davis Polk & Wardwell Tax Policy Colloquium. If you would like to attend, please contact Michael Love.

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September 22, 2023 in Colloquia, Legal Education, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Avi-Yonah Presents Taxing Nomads: Reviving Citizenship-Based Taxation For The 21st Century Today At Boston College

Reuven Avi Yonah (Michigan; Google Scholar) presents Taxing Nomads: Reviving Citizenship-Based Taxation for the 21st Century at Boston College today as part of its Tax Policy Collaborative hosted by James Repetti and Diane Ring.

Reuven Avi-YonahThe COVID pandemic and the rise of zooming has increased the ability of many people (primarily the rich) to work remotely. This in turn has led to more people moving to other countries to benefit from the ability to work remotely while enjoying other benefits such as lower housing prices, a more leisurely lifestyle, and in some cases greater political stability. Many Americans have used their newfound freedom to move overseas, e.g., to Italy. They and others like them are the new nomads.

Such a move is not tax motivated because Italy has higher personal tax rates than the US. It does, however, raise interesting tax issues because the US (uniquely) imposes worldwide taxation on its citizens wherever they live, while Italy (like most countries) does not tax non-resident citizens but taxes its residents on worldwide income regardless of their citizenship status.

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September 22, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Osofsky Presents Legitimacy And Tax Enforcement Today At Florida

Florida

Leigh Osofsky (North Carolina; Google Scholar) presents Legitimacy and Tax Enforcement, 61 Harv. J. on Leg. __ (2024) (with Joshua D. Blank (UC-Irvine; Google Scholar)) at Florida today as part of its Tax Colloquium hosted by Yariv Brauner:

One of the most powerful charges that can be leveled against the IRS is that it is targeting taxpayers. Charges of political targeting have dogged the IRS for over a century, including in major controversies such as the so-called Tea Party auditing scandal in 2013. Commentators and scholars have long-critiqued the IRS for focusing audit resources on some of the lowest-income Americans. And, most recently, a group of researchers estimated that the IRS audits Black taxpayers at a 2.9 to 4.7 times greater rate, as compared to non-Black taxpayers. In response, legislators demanded action, there was widespread public consternation, and IRS officials stated that they were “deeply concerned by these findings.” These, and other, controversies suggest deep disdain for the targeting of taxpayers by the IRS.

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September 22, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Thursday, September 21, 2023

Goldin Presents Measuring And Mitigating Racial Disparities In Tax Audits Today At Columbia

Jacob Goldin (Chicago; Google Scholar) presents Measuring and Mitigating Racial Disparities in Tax Audits (with Hadi Elzayn (Stanford; Google Scholar), Evelyn Smith (Michigan), Thomas Hertz (U.S. Treasury), Arun Ramesh (Chicago), Robin Fisher (U.S. Treasury) & Daniel E. Ho (Stanford)) at Columbia today as part of its Davis Polk & Wardwell Tax Policy Colloquium hosted by Michael Love:

Jacob goldinGovernment agencies around the world use data-driven algorithms to allocate enforcement resources. Even when such algorithms are formally neutral with respect to protected characteristics like race, there is widespread concern that they can disproportionately burden vulnerable groups. We study differences in Internal Revenue Service (IRS) audit rates between Black and non-Black taxpayers. Because neither we nor the IRS observe taxpayer race, we propose and employ a novel partial identification strategy to estimate these differences. Despite race-blind audit selection, we find that Black taxpayers are audited at 2.9 to 4.7 times the rate of non-Black taxpayers. The main source of the disparity is differing audit rates by race among taxpayers claiming the Earned Income Tax Credit (EITC). Using counterfactual audit selection models for EITC claimants, we find that maximizing the detection of underreported taxes would not lead to Black taxpayers being audited at higher rates.

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September 21, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Monday, September 18, 2023

Newton Presents Closing The Opportunity Gap Today At UC-San Francisco

Deanna Newton (Pepperdine) presents Closing the Opportunity Gap at UC-San Francisco today as part of its Tax Speaker Series hosted by Heather Field:

Newton (2023)Opportunity Zones are low-income areas or economically distressed communities in the United States. The Opportunity Zone program encourages investment in low-income areas or economically distressed communities by offering investors tax benefits. Scholars have found little evidence that Opportunity Zones positively impact zone residents’ lives, concluding that Opportunity Zone legislation mostly benefits wealthy investors and should be reformed to benefit community members better. Investors are currently not required to finance projects geared toward the needs of local communities; they are instead funding developments they would have already invested in, whether located in an Opportunity Zone or not. This Article argues that current reform efforts and related scholarship do not give adequate weight to active and direct participation by community members and investors as it relates to economic development tax incentives. It argues for a comprehensive framework that focuses on active, direct, and transformative participation by community members and investors.

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September 18, 2023 in Colloquia, Pepperdine Tax, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Dean Presents Global Jim Crow: Taxation And Racial Capitalism At Boston University

Steven Dean (Boston University) presents his forthcoming book Global Jim Crow: Taxation And Racial Capitalism (Oxford University Press) at Boston University today as part of its Congresswoman Barbara Jordan Speaker Series on Race, Law, and Inequality (register here):

Dean (2020)What makes some nations rich and others poor? Why do even the most powerful states struggle to tax giant multinationals? One answer to both questions lies in a system of Global Jim Crow created as a response to fears over the rise of sovereign African states in the late 1950s and 1960s. For more than half a century, the Organization for Economic Cooperation and Development has shielded multinationals from taxation, doing its job so well that even the wealthiest states lack urgently needed tax revenues. More than six decades into its existence, the OECD has still never had a majority-Black member and continues to exploit anti-Black racism to preserve its power.

Congresswoman Barbara Jordon Speaker Series on Race, Law & Inequality
Despite the laudable ideals expressed by this nation’s founders, US law has routinely been written, enacted, and interpreted by those in power in ways that reinforce, rather than dismantle, racial inequality. In this sense, law has become one part of the structures in which racism is embedded. This structural racism touches upon every area of the law, and nearly 250 years into this democratic experiment that is the United States, people of color have still not gained full and equal membership in US society. 

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September 18, 2023 in Colloquia, Legal Education, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Kysar Presents The Global Tax Deal And Its Implications Today At Loyola-L.A.

Rebecca Kysar (Fordham; Google Scholar) presents The Global Tax Deal and Its Implications at Loyola-L.A. today as part of its Tax Policy Colloquium hosted by Katie Pratt and Ted Seto:

Kysar (2018)The ethos of economic integration and trade liberation no longer reigns supreme. Instead of multilateral trade agreements, nations are turning towards protectionism and unilateralism. Yet in late 2021, nearly 140 countries agreed to a new international tax system that is aimed at levelling the playing field among them, curtailing competition on corporate tax rates and corporate profit shifting to tax havens through a new global minimum tax as well as constructing a new allocation of taxing rights among nations.

Although multilateral trade agreements now seem out of reach, tax multilateralism is ascendant. This is surprising given the deep connection between taxation and national sovereignty. It also perplexing since international tax does not exhibit the same theoretical harmony between national and worldwide welfare that international trade enjoys. The traditional account offered by economists is that trade liberalization is a rising tide that will lift all boats because countries will produce according to their competitive advantages and trade the rest, making trade suitable for international coordination. In contrast, tax is largely described as a zero-sum contest for a fixed pot of tax revenues, deeming it ill-suited for collective action.

Continue reading

September 18, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Friday, September 15, 2023

Next Week’s Tax Workshops

Next Week's Tax Workshops - linkedin

Monday, September 18: Deanna  Newton (Pepperdine) will present Opportunity Gap as part of the UC-San Francisco Tax Speaker Series. If you would like to attend, please contact Heather Field.

Monday, September 18: Rebecca Kysar (Fordham; Google Scholar) will present The Global Tax Deal and Its Implications as part of the Loyola-L.A. Tax Policy Colloquium. If you would like to attend, please RSVP here

Monday, September 18: Steven Dean (Boston University) will present Global Jim Crow: Taxation and Racial Capitalism (Oxford University Press 2023) as part of the Boston University Congresswoman Barbara Jordan Speaker Series On Race, Law, & Inequality. If you would like to attend, please RSVP here

Thursday, September 21: Jacob Goldin (Chicago; Google Scholar) will present Measuring and Mitigating Racial Disparities in Tax Audits  (with Hadi Elzayn (Stanford; Google Scholar), Evelyn Smith (Michigan), Thomas Hertz (U.S. Treasury), Arun Ramesh (Chicago), Robin Fisher (U.S. Treasury) & Daniel Ho (Stanford)) as part of the Columbia Davis Polk & Wardwell Tax Policy Colloquium. If you would like to attend, please contact Michael Love.

Friday, September 22: Reuven Avi Yonah (Michigan; Google Scholar) will present Taxing Nomads: Reviving Citizenship-Based Taxation for the 21st Century as part of the Boston College Tax Policy Collaborative. If you would like to attend, please contact Jim Repetti or Diane Ring

Friday, September 22: Leigh Osofsky (North Carolina; Google Scholar) will present Legitimacy and Tax Enforcement, 61 Harv. J. on Leg. __ (2024) (with Joshua D. Blank (UC-Irvine; Google Scholar)) as part of the Florida Tax Colloquium. If you would like to attend, please contact Yariv Brauner

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September 15, 2023 in Colloquia, Legal Education, Scholarship, Tax, Tax Scholarship, Tax Workshops | Permalink

Thursday, September 14, 2023

Kim Presents Taxing The Metaverse Today At Columbia

Young Ran (Christine) Kim (Cardozo; Google Scholar) presents Taxing the Metaverse, 112 Geo. L.J. __ (2024) at Columbia today as part of its Davis Polk & Wardwell Tax Policy Colloquium hosted by Michael Love:

Christine KimThe buzz surrounding the Metaverse has been growing steadily for the past couple of years, but the tax implications of this novel ecosystem remain fuzzy to most tax scholars. Such uncertainty is concerning, given the potential and momentum of this emerging technology. Although the Metaverse evolved from online video games focused only on user consumption, it now allows users to produce income and accumulate wealth entirely within the Metaverse. Current law seems to defer taxation of such until a realization or cash-out event. This paper challenges this approach.

This paper offers novel arguments justifying Metaverse taxation. Because economic activity within the Metaverse satisfies the Haig-Simons and Glenshaw Glass definitions of income, its exclusion will create a tax haven. Tax policy can also play an essential role in regulating the virtual economy. Furthermore, this emerging technology allows policymakers to modernize the tax system. 

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September 14, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Tuesday, September 12, 2023

Kim Presents Taxing The Metaverse Today At NYU

Young Ran (Christine) Kim (Cardozo; Google Scholar) presents Taxing the Metaverse, 112 Geo. L.J. __ (2024) at NYU today as part of its Tax Policy and Public Finance Colloquium hosted by Daniel Shaviro:

Christine KimThe buzz surrounding the Metaverse has been growing steadily for the past couple of years, but the tax implications of this novel ecosystem remain fuzzy to most tax scholars. Such uncertainty is concerning, given the potential and momentum of this emerging technology. Although the Metaverse evolved from online video games focused only on user consumption, it now allows users to produce income and accumulate wealth entirely within the Metaverse. Current law seems to defer taxation of such until a realization or cash-out event. This paper challenges this approach.

This paper offers novel arguments justifying Metaverse taxation. Because economic activity within the Metaverse satisfies the Haig-Simons and Glenshaw Glass definitions of income, its exclusion will create a tax haven. Tax policy can also play an essential role in regulating the virtual economy. Furthermore, this emerging technology allows policymakers to modernize the tax system. 

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September 12, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Morse Presents Old Regs Today At UC-San Francisco

Susan Morse (Texas; Google Scholar) presents Old Regs, 31 Geo. Mason L. Rev. __ (2023) at UC-San Francisco today as part of its Tax Speaker Series hosted by Heather Field:

MorseOld regs should not be subject indefinitely to administrative procedure challenge. Instead, we should leave them alone. The consensus case law view applies the six-year limitations period under 28 U.S.C. § 2401(a) with accrual at the time of promulgation. This strikes the right balance between accuracy and repose and correctly reflects that all of the elements of the administrative procedure claim are in place at the time of the alleged error, when the regulation was promulgated. When — as is sometimes true in tax—the government delays a claim through no fault of any plaintiff, equity provides the appropriate judicial solution. '''

Conclusion
The puzzle presented by administrative procedure challenges to old regs amounts to a classic tension in law: the tradeoff between accuracy and repose. The puzzle is solved by the default six-year limitations period of 28 U.S.C. § 2401(a). Applicable case law correctly holds, although without carefully explaining its reasoning, that this period begins to run when a regulation is promulgated for administrative procedure claims. Tax provides a good test case, which is to say a difficult test case, for exploring this issue. It systematically raises issues of pre-litigation delay, intervening case law, and nonenforcement that raise the question of whether exceptions to the six-year limitations period should be made.

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September 12, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Friday, September 8, 2023

Next Week’s Tax Workshops

Next Week's Tax Workshops - linkedinTuesday, September 12: Young Ran (Christine) Kim (Cardozo; Google Scholar) will present Taxing the Metaverse, 112 Geo. L.J. __ (2024) as part of the NYU Tax Policy and Public Finance Colloquium. If you would like to attend, please contact Daniel Shaviro

Tuesday, September 12: Susan Morse (Texas; Google Scholar) will present Old Regs, 31 Geo. Mason L. Rev. __ (2023) as part of the UC-San Francisco Tax Speaker Series. If you would like to attend, please contact Heather Field.

Thursday, September 14: Young Ran (Christine) Kim (Cardozo; Google Scholar), will present Taxing the Metaverse, 112 Geo. L.J. __ (2024) as part of the Columbia Davis Polk & Wardwell Tax Policy Colloquium. If you would like to attend, please contact Michael Love.

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September 8, 2023 in Colloquia, Legal Education, Scholarship, Tax, Tax Scholarship, Tax Workshops | Permalink

Friday, May 26, 2023

8th Annual Texas Tax Faculty Workshop

Texas Tax Faculty Workshop 2023

Houston hosted the 8th Annual Texas Tax Faculty Workshop (program):

Johnny Buckles (Houston), Constitutional Law and Tax Expenditures: A Prelude, 76 Ark. L. Rev. 1 (2023)
Commenter: Susan Morse (Texas; Google Scholar)

Orly Mazur (SMU; Google Scholar), Cooperative Federalism and the Digital Tax Impasse, 51 Fla. St. U. L. Rev. __ (2023) (with Adam B. Thimmesch (Nebraska; Google Scholar))
Commenter: Khrista McCarden (Tulane)

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May 26, 2023 in Bryan Camp, Scholarship, Tax, Tax Conferences, Tax Daily, Tax Profs, Tax Workshops | Permalink | Comments (1)

Thursday, May 18, 2023

Hemel Presents The Realization Doctrine And The Optimal Taxation Of Capital Income Today At The OMG Transatlantic Tax Talks

Daniel Hemel (NYU; Google Scholar) presents The Realization Doctrine and the Optimal Taxation of Capital Income (with Dhammika Dharmapala (Chicago; Google Scholar)) at the OMG Transatlantic Tax Talks Series (OMG = Oxford-Michigan-MIT-Munich-Georgetown) today: 

Daniel hemelThe realization requirement—a common feature of real-world capital income tax systems—defers the taxation of gains until the sale or other disposition of assets. As implemented, it generally imposes effective capital income tax rates that decline over a taxpayer’s holding period. Scholars of tax law and public finance have long appreciated that the realization requirement generates a deferral benefit and an associated allocative inefficiency (the “lock-in effect”). However, they have largely overlooked the relationship between realization and the optimal taxation of capital over the lifecycle. In this paper, we connect the realization requirement to canonical results in the optimal tax literature—in particular, the Atkinson-Stiglitz argument for the nontaxation of retirement savings and the Diamond-Mirrlees argument for high tax rates on savings withdrawn in midlife. First, we reconcile these results in a simple three-period framework with stochastic skill shocks in the middle period, demonstrating that the optimal tax rate on savings withdrawn in the middle period is high while the optimal tax rate on savings withdrawn in the final period is zero. We next show how the realization requirement partially implements the optimal age-dependent capital income tax schedule. 

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May 18, 2023 in Colloquia, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Friday, May 12, 2023

Next Week’s Tax Workshop

Tax Workshops (Big)Thursday, May 18: Daniel Hemel (NYU; Google Scholar) will present The Realization Doctrine and the Optimal Taxation of Capital Income (with Dhammika Dharmapala (Chicago; Google Scholar)) as part of the OMG Transatlantic Tax Talks:

The realization requirement—a common feature of real-world capital income tax systems—defers the taxation of gains until the sale or other disposition of assets. As implemented, it generally imposes effective capital income tax rates that decline over a taxpayer’s holding period. Scholars of tax law and public finance have long appreciated that the realization requirement generates a deferral benefit and an associated allocative inefficiency (the “lock-in effect”). However, they have largely overlooked the relationship between realization and the optimal taxation of capital over the lifecycle. In this paper, we connect the realization requirement to canonical results in the optimal tax literature—in particular, the Atkinson-Stiglitz argument for the nontaxation of retirement savings and the Diamond-Mirrlees argument for high tax rates on savings withdrawn in midlife.

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May 12, 2023 in Colloquia, Legal Education, Scholarship, Tax, Tax Daily, Tax Scholarship, Tax Workshops | Permalink

Friday, April 28, 2023

26th Annual Critical Tax Conference At Loyola

Loyola L.A. Logo (2020)Loyola-L.A. hosts the 26th Annual Critical Tax Conference (program) today and tomorrow:

Friday

9:00 AM: Welcome 

  • Jennifer Kowal (Loyola-L.A.)

9:10 AM: What is Critical Tax? 

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April 28, 2023 in Conferences, Legal Education, Scholarship, Tax, Tax Conferences, Tax Workshops | Permalink

Tuesday, April 25, 2023

Lipman Presents Not Taxing Puerto Rico? Whitewashing Impoverishment In U.S. vs Vaello Madero Today At Georgetown

Francine J. Lipman (UNLV; Google Scholar) presents Not Taxing Puerto Rico? Whitewashing Impoverishment in United States v. Vaello-Madero at Georgetown today as part of its Tax Law and Public Finance Workshop hosted by Emily Satterthwaite and Dayanand Manoli:

Francine lipmanFor more than four generations, since 1917, Puerto Ricans have qualified for U.S. citizenship. Yet citizens residing in Puerto Rico do not enjoy the same rights and privileges of citizens residing in the states and Washington D.C., but rather must suffer what Justice Ruth Bader Ginsburg famously coined, albeit in the context of marriage, a “skim milk” version of citizenship. This disparate treatment arises from the Supreme Court’s interpretation of the Territory Clause of the Constitution in the Insular Cases. The Territory Clause provides Congress with plenary power to “dispose of and make all needful Rules and Regulations respecting the Territory.” The Supreme Court through its decisions in the Insular Cases, dated more than one-hundred years ago, and their progeny has generally held that the Constitution only applies to residents of the territories if Congress has specifically ruled that it applies and if the right is “fundamental.”

To be clear, many have criticized the Insular Cases. Most recently Justice Gorsuch, in his concurrence in Vaello-Madero, has described the Insular Cases as a “misguided framework” with a “rotten foundation” arising from the “sordid business of segregating Territories and the people who live in them on the basis of race, ethnicity, or religion” relying on “ugly racial stereotypes, and the theories of social Darwinists.” 

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April 25, 2023 in Colloquia, Scholarship, Tax, Tax Scholarship, Tax Workshops | Permalink