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Form 1098-T will be needed to claim education tax breaks Third-party verification is part of new trade bills' tax law changes

2015 was supposed to be the year of tax reform, specifically simplification of our complicated tax code. Instead, Congress has been tucking tax provisions into recently enacted pieces of non-tax legislation. The most recent was the Surface...Show More Summary

Shaheen: Understanding Lockout

Fadi Shaheen (Rutgers-Newark), Understanding Lockout, 69Tax L. Rev. ___ (2016): Based on the notion that the size of an initially-smaller but faster-growing investment would eventually reach and exceed the size of an initially-larger but slower-growing investment, the “full-value model” developed in this paper shows that the assumption that repatriation is...

Judge Grants TRO Reinstating Fired Tenured Charleston Law School Professor

Following up on last month's post, Two Fired Tenured Profs Sue Charleston Law School: Richard Gershon (Dean, Mississippi) reports on our Law Deans on Legal Education Blog: A judge in Charleston, SC has granted a Charleston School of Law faculty member's motion for a temporary injunction against the school and...

WaPo: IRS Commissioner Promises Not to Revoke Tax-Exempt Status of Colleges That Oppose Gay Marriage

Washington Post, IRS Commissioner Promises Not to Revoke Tax-exempt Status of Colleges That Oppose Gay Marriage: After the Supreme Court’s decision on gay marriage, religious leaders feared that religious universities, nonprofits and other institutions could lose their tax-exempt status. IRS Commissioner John Koskinen has promised the Senate Judiciary Oversight Subcommittee...

NY Fed: Federal Aid For College Has Jacked Up Tuition (Especially In Graduate Schools)

Federal Reserve Bank of New York, Credit Supply and the Rise in College Tuition: Evidence from the Expansion in Federal Student Aid Program: When students fund their education through loans, changes in student borrowing and tuition are interlinked. Higher tuition costs raise loan demand, but loan supply also affects equilibrium...

2016 Princeton Review's Best 380 Colleges

The Princeton Review has released The Best 380 Colleges -- 2016 Edition. According to the press release, the book contains 62 rankings based on surveys completed by 136,000 students at the 380 schools (358 per school) (methodology here), including these categories: Best (Olin) classroom experience Best (Swarthmore), worst (U.S. Merchant...

ABA Approves Merger Of Rutgers-Camden And Rutgers-Newark Law Schools

Press Release, American Bar Association Approves Merger Creating Rutgers Law School: The Council of the American Bar Association (ABA) Section on Legal Education and Admission to the Bar approved today the merger of Rutgers’ law schools into one unified Rutgers Law School with two distinct locations in Camden and Newark,...

Foreign Bank Account Report (FBAR) Filing Date Extended by HR 3236

On July 31, 2015, President Barack Obama signed into a law HR 3236 a highway funding bill. Buried in the Bill is a provision which changes the filing date for Foreign Bank Account Reports (FBARs) to April 15th. Up until now the due date for the FBAR, which must be filed electronically on FinCEN Form […]

Charging $476K For Strippers On Company Card? No Tax Deduction, Jail Instead

Don't charge strippers on your credit card, much less on your company card! And don't claim tax deductions for strippers either.

Tax-Exempt Status, Tax Breaks, and the Limits of Economic Recovery

Colleges that oppose same-sex marriage can keep their tax-exempt status. Granted, the US Supreme Court ruled that same-sex marriage is legal in all 50 states. But testifying before the Senate Judiciary Oversight Subcommittee last week,...Show More Summary

7th Circuit: Florida Coastal Law Grad Cannot Discharge $260,000 Student Loan Debt In Bankruptcy

The Seventh Circuit has affirmed decisions of a federal bankruptcy court and district court preventing a Marquette (MBA) and Florida Coastal (J.D.) graduate from discharging $260,000 in student loan debt in bankruptcy. Tetzlaff v. Educational Credit Management Corp., No. 14-3702 (7th Cir. July 22, 2015): Mark Tetzlaff is fifty-six years...

The IRS Scandal, Day 817

New York Observer: Judge Slams Hillary and Huma, Orders Answers, by Sidney Powell: Judge Sullivan has chipped away at the IRS and its lies and obstruction.... A hero for his dismissal of the indictment against Senator Ted Stevens and his appointment of a special prosecutor—as told in my non-fiction...

Snoop Dogg Has Money On His Mind After Being Stopped With Lots Of Cash In The Airport

Last week, Italian police stopped rapper Snoop Dogg and found $422,000 (€385,071.64) in his luggage just as he was about to board a plane. Snoop, whose real name is Calvin Broadus, had not declared the cash and that's against the rules in the EU. It's also against the rules in the United States.

Making Sense of Profit Shifting: Gary Hufbauer

Gary Hufbauer is the Reginald Jones Senior Fellow at the Peterson Institute for International Economics. A seminal thinker and world-renowned expert on international trade, commerce, and taxation, for the past decades, Dr. Hufbauer’s research has significantly influenced the arena of international economics. Show More Summary

Hillary’s Top Aide Draws Fire, But Clinton Foundation Is Elephant In The Room

Hillary Clinton's dump of tax return and health care records helps her continuing dance with the media over emails and disclosure. Meanwhile, her top aide Huma Abedin, is now in the spotlight too. Is working for three employers at once a conflict?

Recovery cannot save state budgets from politics

During the Great Recession and its aftermath, the economy wreaked havoc on state budget negotiations, forcing tough votes on spending cuts and tax increases. Since then the economy has improved, state tax revenue are growing, and legislatures have more room to maneuver during budget season. Show More Summary

Tax Roundup, 8/3/15: Due date scramble edition, with extendable FBARs!

Highway bill scrambles business return due dates. A “short term highway funding bill” (HR 22) has switched some tax return filing […]

Cool tax moves to make during August's hot Dog Days

And here we are, into August. School will start in some places this month. Elsewhere, folks are sneaking in one final vacation trip. Regardless of whether you're packing the kiddos' lunches or packing for a final seasonal jaunt, you're probably just trying to stay cool during these Dog Days of summer. Show More Summary

Caron Named Associate Dean For Research And Faculty Development At Pepperdine

Press Release, Paul L. Caron Named Associate Dean for Research and Faculty Development: Paul L. Caron, Professor of Law at Pepperdine School of Law, has been named Associate Dean for Research and Faculty Development, effective August 1, 2015. Caron joined the Pepperdine tenured faculty in 2013 after serving as the...

The Best Legal Job Market for Millenials? Tax Law

Huffington Post: The Best Legal Job Market for Millenials? Tax Law, by Debra Carpenter: According to the National Association for Law Placement, the job market for new law school graduates doesn't look that great at first glance.... [But] there is one specialty seeing significant growth and has a wealth...

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