US News

US Tax News is brought to you by Professor Paul Caron

  • Brown: "Complete" Accrual Taxation - Fred B. Brown (Baltimore) has posted "Complete" Accrual Taxation, 33 San Diego L. Rev. 1559 (1996), on SSRN. Here is the abstract: Under the realization rule, accrued gains and losses generally are not taken into account for income tax purposes...
  • TaxProf Blog Weekend Roundup - Saturday: AP: Al Sharpton Owes $1.5 Million in Taxes ABA Tax Section May Meeting Student Notes in ABA Tax Lawyer New Issue of Real Property, Probate & Trust Journal Sunday: Pastors to Challenge Ban on Political Activity by Endorsing Candidates...
  • Pastors to Challenge Ban on Political Activity by Endorsing Candidates From Pulpit on Sept. 28 - Wall Street Journal: Pastors May Defy IRS Gag Rule; Legal Group Urges Ministers to Preach About Candidates, by Suzanne Sataline: A conservative legal-advocacy group is enlisting ministers to use their pulpits to preach about election candidates this September, defying a...
  • Top 5 Tax Paper Downloads - There is a bit of movement on this week's list of the Top 5 Recent Tax Paper Downloads, with new papers debuting on the list at #4 and #5: 1. [390 Downloads] Deduction Ad Absurdum: CEOs Donating Their Own Stock...
  • Tax Prof Joins Wash. U. Protest Against Honory Degree to Phyllis Schlafly - Tax Prof Cheryl Block has joined other Washington University law faculty in opposing the award of an honory degree to Phyllis Schlafly.
  • New Issue of Journal of Taxation of Investments - The Journal of Taxation of Investments has published its Spring 2008 issue (Vol. 25, No. 3), with these articles: Gerald Nowotny, Captive Insurance Companies Provide Tax and Economic Advantages for Hedge Funds, 25 J. Tax'n Inv. 3 (2008): This article...
  • Borden: Tax-Free Like-Kind Exchanges - Bradley T. Borden (Washburn) has published Tax-Free Like-Kind Exchanges (Civic Research Institute, 2008): Section 1031 of the tax code, providing for tax-free like-kind exchanges, has become a very popular planning tool. Investors can use § 1031 exchanges to defer capital...
  • Where Do People Spend Their Tax Refunds? - Shawn Allen Cole (Harvard Business School), John Thompson (H&R Block) & Peter Tufano (Harvard Business School) have posted Where Does it Go? Spending by the Financially Constrained on SSRN. Here is the abstract: In this paper, we analyze the spending...
  • AP: Al Sharpton Owes $1.5 Million in Taxes - The Associated Press is reporting that Al Sharpton and his business and nonprofit entities owe nearly $1.5 million in taxes, interest, and penalties: [T]he U.S. attorney is investigating his nonprofit group, a probe that an undeterred Sharpton brushes off as...
  • ABA Tax Section May Meeting - The ABA Tax Section's three-day May Meeting concludes today at the Grand Hyatt in Washington, D.C. A list of Tax Profs with speaking roles today, and their topics, is below the fold.
  • Student Notes in ABA Tax Lawyer - There are three student notes in the latest issue of the ABA Tax Lawyer: Natanyah Ganz, Note, Please Hang Up and Try Again: The Missouri Supreme Court Speed Dials Telephone Services into the Manufacturing Exemption Too Quickly in Southwestern Bell...
  • New Issue of Real Property, Probate & Trust Journal - The ABA Section on Real Property, Trust & Estate Law has published the Winter 2008 issue of the Real Property, Probate & Trust Journal (Vol. 42, No. 4), with these articles: Christopher P. Cline, The Uniform Prudent Investor and Principal...
  • Skadden's Tax Work Helps Firm Become D.C. Behemoth - Legal Times: Skadden Posts Huge Capital Gains, by Marisa McQuilken: It's the highest-grossing firm in New York, and for that matter, in the United States. Could Skadden, Arps, Slate, Meagher & Flom be on the verge of becoming D.C.'s top...
  • WSJ: Obama's Faulty Tax Argument - Op-ed in today's Wall Street Journal: Obama's Faulty Argument, by Andrew G. Biggs (American Enterprise Institute): As the presidential campaign heats up, a key issue is whether to extend the 2001 and 2003 income tax cuts, which expire in 2011....
  • Ohio Supreme Court: Beneficiaries Cannot Sue Decedent's Attorney For Estate Tax Negligence - The Ohio Supreme Court on Wednesday unanimously held that children could not sue their deceased mother's attorney for negligence in the preparation of a deed during her life that resulted in adverse etsate tax conseqences under § 2036. Shoemaker v....