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Fleischer: Why Pfizer’s Deal May Change the System of Taxing Multinationals

New York Times Deal Book: Why Pfizer’s Deal May Change the System of Taxing Multinationals, by Victor Fleischer (San Diego): Pfizer’s proposed merger with Allergan is a blockbuster deal in the pharmaceutical industry. History may remember the deal instead for finally killing off the United States’ outdated approach to taxing...

Virginia Tax Review Publishes New Issue

The Virginia Tax Review has published Vol. 34, No. 3 (Winter 2014): Ryan S. Keller (Ph.D. 2015, Cambridge), Beyond Homo Economicus: The Prosocial Brain & The Charitable Tax Deduction, 34 Va. Tax Rev. 357 (2015) Nika Antonikova (LL.M. (Tax) 2015, NYU), Real Taxes on Virtual Currencies: What Does the IRS...

Henderson: The Hardest Working Lawyers Are Also The Happiest

The Legal Whiteboard: What Is The Impact of Longer Hours on Lawyer Satisfaction?, by William Henderson (Indiana): This fall, Lawyer Metrics was given the opportunity to analyze survey data supplied to us from by The Indiana Lawyer, the paper of record for the Indiana legal profession. The sample included 516...

IRS Has Second Lowest Favorability Rating (42%) Among Federal Agencies, With Largest Partisan Divide: 24% Of Republicans, 58% Of Democrats View IRS Favorably

Pew Research Center, Ratings of Federal Agencies, Congress and the Supreme Court: As in the past, the public expresses favorable opinions of a wide range of federal agencies and departments, but there are some notable exceptions. Currently, majorities give favorable assessments of 13 of the 17 agencies and departments tested;...

Farmers urge Congress to talk turkey on tax extenders

Does your Thanksgiving Day menu include a turkey, yams and those fancy stuffed potatoes that grandma used to make every time the family gathered at her house? Thanksgiving meal photo courtesy Satya Murthy via Flickr CC Then there are two things you need to do. Show More Summary

Tax Roundup, 11/25/15: Don’t bother depreciating things up to $2,500. And: Have a great Thanksgiving!

$2,500 is the new $500. The IRS yesterday announced (Notice 2015-82) that it was increasing the maximum “safe harbor” expensing amount […]

Thanks Again!

It is not uncommon for someone who has been the beneficiary of a gift, a favor, or a helping hand not only to say “Thank you!” but to close out the encounter with “Thanks again!” It never hurts to repeat an expression of gratitude. Nor does it cost anything. Show More Summary

Nominations for Outstanding Achievement in State Tax Policy Open!

Each year, the Tax Foundation honors state legislators, executives, and other individuals with its Outstanding Achievement in State Tax Reform award. As the name suggests, the honoree's accomplishments must be (1) outstanding, (2) an achievement (not...Show More Summary

Should Law Librarians Attend And Participate In Faculty Meetings?

Charlotte D. Schneider (Reference Librarian, Rutgers), Inclusion and Participation: Law Librarians at Law Faculty Meetings, 107 Law Libr. J. 113 (2015): Despite the vital role they play in the success of their law schools, academic law librarians are often denied attendance to and participation in law faculty meetings on certain...

The IRS Scandal, Day 930

The Daily Signal: Lois Lerner Won’t Be Facing Criminal Charges. Here Are the Problems With the ‘Investigation’ That Cleared Her., by Hans von Spakovsky (Heritage Foundation): In the Oct. 23 letter, Peter J. Kadzik, the assistant attorney general for legislative affairs, said that the Justice Department’s investigation, conducted jointly by...

IRS issues Applicable Federal Rates (AFR) for December 2015

The IRS has issued (Rev. Rul. 2015-25) the minimum required interest rates for loans made in December 2015: -Short-Term (demand loans and […]

Universal Savings Accounts Introduced in Congress

Last week, S.2320, a bill that would create Universal Savings Accounts in the federal tax code, was referred to the Senate Finance Committee. The bill, sponsored by Senator Jeff Flake and Representative Dave Brat, would allow Americans age 18 or older to open an account to which they could contribute $5,500 of after-tax money. Show More Summary

Fennell Presents The Distributive Deficit In Law And Economics Today At Columbia

Lee Anne Fennell (Chicago) presents The Distributive Deficit in Law and Economics, 100 Minn. L. Rev. ___ (2016) (with Richard H. McAdams (Chicago)), at Columbia today as part of its Davis Polk & Wardwell Tax Policy Colloquium Series hosted by Alex Raskolnikov and Wojciech Kopczuk: Welfarist law and economics ignores...

Liberty Tax Service to Report Second Quarter Fiscal 2016 Results on December 9, 2015

VIRGINIA BEACH, VA -- (Marketwired) -- 11/24/15 -- Liberty Tax, Inc. (NASDAQ: TAX), the parent company of Liberty Tax Service, announced today that it will report its earnings for the second quarter of fiscal 2016 before the market opens on Wednesday, December 9, 2015. Show More Summary

IRS should focus tax audit efforts on richer taxpayers

Uncle Sam and we taxpayers all have a lot to be thankful for this Thanksgiving. From the government's point of view, Treasury took in almost $3.25 trillion in taxes for the 2015 fiscal year that ended back on Sept. 30. And from taxpayers' perspective, that record amount or tax dollars was achieved without most of us having to endure a tax audit. Show More Summary

Hillary Clinton's Growing Tax Agenda

Wall Street Journal, Clinton’s Proposed Tax Credits Expand: Latest Focus on Caregivers Is at Least the Ninth Tax Proposal Since This Summer: If you’re caring for an aging parent, deciding whether to invest in rural America or struggling to pay medical bills, Hillary Clinton has a tax credit for you....

It's Time To Drain The Bipartisan Tax Extender Feeding Trough

New York Times op-ed: Giving Billions to the Rich, by Marc Short & Andy Koenig (Freedom Partners): It's that time of year again, when Republicans and Democrats put aside their differences to dole out gifts of corporate welfare to a lucky few. Congress will soon take up the so-called tax...

Disentangling CAP Arguments against Tax Cuts for Capital Formation: Part 3

Part 3: Lower Tax Rates on Saving and Investment Discourage Saving and Investment This blog continues a discussion of a recent piece by the Center for American Progress, “Long-Termism or Lemons: The Role of Public Policy in Promoting Long-Term Investments,” by Marc Jarsulic, Brendan Duke, Michael Madowitz. Show More Summary

Bar Exam Carnage Spreads Across The Country

Following up on my recent posts (links below): National Law Journal, Bar Exam Pass Rates Drop Across the Country: Bar exam passage rates sank in several big states, indicating a drop in the qualifications of students amid fewer law school applications. Pass rates in California, the District of Columbia, Florida,...

60% Of CalPERS' Private Equity Investments Contain Management Fee Waivers

Reuters, Majority of Calpers Private Equity Investments Contain Tax Deal: The majority of deals signed by the California Public Employees' Retirement System with private equity firms allow the firms to reduce their tax bills by treating ordinary management fees as capital gains, an issue that is drawing increasing regulatory scrutiny....

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