Their owners are so in the dark about the accounting and tax side of their businesses that his company, Intuit, created a special TurboTax product and a Web site just for them. With the growing prevalence of the AMT, Vic suggests that Tax Profs eventually will need to cover it in detail in the basic federal income tax course:. As the AMT becomes a larger and larger feature of our tax system, taxprofs will eventually have to adjust.
I think those of us who teach the basic FedTax course have been ignoring it as much as possible, hoping Congress will make it go away. But eventually, as the AMT captures more and more people, we may have to cave in and really teach the darn thing. In ten years, maybe the basic course should be called "Federal AMT," with a couple of historical lectures about the old tax system and how the new de facto system came about. Philip F. Time has passed Section by.
Rather than serve its initial purpose, Section survives as an anachronism preventing the coherent evolution of the Code. How could a provision such as Section , with limited utility, devastating complexity, and confusing at best policy implications, remain in the Internal Revenue Code? How has Section survived multiple calls for its repeal? A study of the evolution of Section provides not only the opportunity to scrutinize the tax-making machinery that determines how and why such anachronistic imperfections come to be, but also to ponder how they can be prevented in the future.
We previously have blogged see complete list below the controversy over the the ABA's proposed new accreditation standard here and here that would require law schools to consider race and ethnicity in admissions and faculty hiring, regardless of any state law prohibitions to the contrary. A coalition of civil right groups have written a letter to the Department of Education in support of the proposed standards.
Here is the Conclusion:. As part of its underlying mission, the ABA is charged to regularly review and update its standards for legal education. Bollinger decision of David Bernstein takes issue with the letter :. The most shocking of this letter's many flaws is the claim that to the extent the ABA standards conflict with state constitutional or statutory law, the ABA standards trump state law!
The letter writers are claiming that if the Federal Department of Education permits a private organization to accredit law schools, the private organization's standards implicitly become part of federal law, and thus supercede state law under the Supremacy Clause.
The chutzpah, the absurdity, the audacity of this argument simply floors me. Please join with me today in celebrating the two year anniversary of TaxProf Blog. The following chart shows our dramatic across-the-board growth over these two years:. Year 1. Thank you for joining us during these two years. I hope you will stick around for what I hope will be many years to come.
Please use the comments to share your thoughts on the blog as well as how we can serve you better in the future. Carolyn L. Dessin Akron. My road to teaching tax law was definitely not direct.
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I started out as a musician who wanted to teach and conduct, and received a Bachelor of Music Education degree in voice from Temple University. I became a music teacher in the Colonial School District in suburban Philadelphia and a Director of Music in several Philadelphia area churches. Like most musicians, I also taught private piano students and played weddings and bar mitzvahs.
The Fair Tax is a proposal for all federal taxes to be replaced by a national consumption tax. The authors argue over the revenue generating potential of the Fair Tax and the exact rate at which citizens would have to be taxed to meet current government spending levels.
The debate is moderated by Harvey Shapiro, contributing editor at Institutional Investor magazine. Charles Adams sat down in to discuss the history of taxation. Christopher M. This Article is as simple and provocative as its title suggests: it explores the legal implications of the word fuck. The intersection of the word fuck and the law is examined in four major areas: First Amendment, broadcast regulation, sexual harassment, and education.
The legal implications from the use of fuck vary greatly with the context. To fully understand the legal power of fuck, the nonlegal sources of its power are tapped. Drawing upon the research of etymologists, linguists, lexicographers, psychoanalysts, and other social scientists, the visceral reaction to fuck can be explained by cultural taboo. Fuck is a taboo word. The taboo is so strong that it compels many to engage in self-censorship. This process of silence then enables small segments of the population to manipulate our rights under the guise of reflecting a greater community.
Taboo is then institutionalized through law, yet at the same time is in tension with other identifiable legal rights. Understanding this relationship between law and taboo ultimately yields fuck jurisprudence. Senate Finance Committee Chair Grassley issued a press release yesterday urging the IRS to rein in hidden expenses to taxpayers in the Free File Program , along with an accompanying staff report ,. Discrimination by bona fide private clubs is legal.
It is a constitutionally protected activity under the First Amendment.
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But our laws go further than balancing and protecting the associational rights of private club members. Discrimination by private clubs is often subsidized through government authorized tax exemptions. Today was the mother lode for the release of politicians' tax returns. Banzhaf III ] says that university administrators have repeatedly declined in recent months to respond to requests by students and others to restrict smoking near the entrances to buildings on the campus.
The Department of Justice has announced that it has launched a nationwide crackdown against the 1 tax-fraud scheme in the country. According to the government complaints, filed in seven lawsuits across the country, the nine people—including [Peter Eric] Hendrickson and his wife Doreen M. In seven suits filed in U. In addition, the suit against Hendrickson, filed in the Eastern District of Michigan, asks the court to enjoin him from filing false tax forms and returns.
A violation of the injunction would be punishable as contempt of court. According to the complaint, Hendrickson claims that only government workers are subject to income taxes. Hendrickson tells people to not submit their W-2 and forms with their tax returns, and in their place submit substitute or corrected W-2 and forms that they create on which they change their reported income to zero.
Under the scheme, people then submit the falsified forms with a tax return falsely reporting no income and request a refund of all taxes withheld from wages The suit against Hendrickson alleges that he was convicted in on federal criminal charges for failing to file a federal income tax return and for a conspiracy involving a firebomb placed in a bin at a U. Post Office in Royal Oak, Mich. We previously blogged the brouhaha over allegations of excessive and hidden pay in the University of California system sparked by a series of articles in the San Francisco Chronicle.
1. Appliances
The Task Force on UC Compensation, Accountability, and Transparency formed in response to the allegations has released its report , which concludes:. UC needs a sea change in current policies and practices, as well as in a University culture long accustomed to using exceptions to work around inadequate or obsolete policies rather than establishing and ensuring compliance with clear guidelines.
Because marriage is a lousy proxy for economic unity, joint filing—with its income-splitting benefits and joint-liability burdens—shouldn't be available to couples who lead independent financial lives. Rather, only couples who are prepared to marry their wallets as well as their hearts by signing an income-sharing agreement should be permitted to file as one The federal income tax system treats married couples as if each spouse earned approximately one-half of the couple's combined income through a mechanism called "income splitting.
Marriage-based income splitting relies on a presumption that marriage is a good indicator of economic unity between two taxpayers. It is not.
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Marriage does not require spousal sharing and many unmarried couples share everything they earn. As a result, the current system extends the benefit of income splitting to some taxpayers who do not deserve it while withholding it from others who do. Because marriage is a poor proxy for economic unity, this Article proposes a new eligibility criterion for income-splitting: only couples legally committed to sharing their income, regardless of marital status, would be permitted to file jointly. It is free and open to the public; registration is not required.
I hope you will be able to join us. Here is the schedule:. Advances in information technology have improved the administrative feasibility of redistribution based on lifetime earnings recorded at the time of retirement. We study optimal lifetime income taxation and social insurance in an economy in which redistributive taxation and social insurance serve to insure ex ante against skill heterogeneity as well as disability risk.
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Optimal disability benefits rise with previous earnings so that public transfers depend not only on current earnings but also on earnings in the past. Hence, lifetime taxation rather than annual taxation is optimal. The optimal tax-transfer system does not provide full disability insurance.
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By offering imperfect insurance and structuring disability benefits so as to enable workers to insure against disability by working harder, social insurance is designed to offset the distortionary impact of the redistributive labor income tax on labor supply. The new Hylton Law School Rankings blogged here and here continue to attract a lot of discussion in the law prof blogosphere:. Tax the people, tax with care, Tax to help the millionaire; Tax the farmer; tax his fowl; Tax the dog and tax his howl; Tax his hen and tax her egg; And let the bloomin' mudsill beg.
Tax them just all you can, This is, friends, the Mellon plan. Tax his pig and tax his squeal, Tax his boots, run down at heel; Tax his horses, tax his lands, Tax his blisters on his hands; Tax him just all you can; This is, friends, the Mellon plan. Tax his plow and tax his clothes, Tax his rag that wipes his nose; Tax his house and tax his bed, Tax the bald spot on his head; Tax the ox and tax the ass; Tax his 'Henry,' tax the gas; Tax the road that he must pass And make him travel o'er the grass; Tax him just all you can; This is, friends, the Mellon plan.
Tax his cow and tax the calf, Tax him if he dares to laugh; He is but a common man, So tax the cuss just all you can, This is, friends, the Mellon plan. Tax the lab'rer, but be discreet, Tax him for walking on the street; Tax his bread and tax his meat, Tax his shoes clear off his feet. Tax the pay roll, tax the sale, Tax all his hard-earned paper kale; Tax his pipe and tax his smoke, Teach him government is no joke; Tax him just all you can, This is, friends, the Mellon plan. Tax their coffins, tax their shrouds, Tax their souls beyond the clouds; Tax 'small' business, tax the shop; Tax their incomes, tax their stocks; Tax the living, tax the dead; Tax the unborn before they're fed; Tax the water, tax the air, Tax the sunlight if you dare; Tax them all, tax them well, Take it all, don't leave a smell; Tax the good roads, tax the stones, Tax the farmers, tax their loans, Kill their credit, raise their rates, Tax the cities, tax the States; Save the profiteer his gold, Tax the poor, tax the old; Tax them just all you can, This is, friends, the Mellon plan.
Non-tax related, but very funny video from The Smoking Gun about a DEA agent who shot himself in the foot during a gun safety demonstration to schoolchildren. Also check out the agent's federal lawsuit against the U. The relation between taxation and risktaking has occupied an important place in tax scholarship in recent years.
In this Article I have attempted to extend that analysis into the open economy setting, and to demonstrate that the conjunction of current international tax instruments and risky cross-border capital flows leads to the divergence of upside and downside risk across jurisdictions.