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Thomas Jefferson Law School Defaults on $133m of Junk Bonds, Hopes to Restructure Debt and Remain Open

Following up on my previous post, S&P Downgrades Many Law Schools, Thomas Jefferson Falls to Junk Bond Status: Above the Law, Troubled Law School Defaults On Its Bonds, May Be Forced To Cease Operations: Under the copy of the Event Filing and Agreement we received, the law school had until...

One Law Prof, Two Lawyers Receive $625,000 MacArthur Fellowships

One law professor and two lawyers are among the 21 recipients of $625,000 MacArthur Fellowships (formerly Genius Grants): Sarah Deer (Professor of Law, William Mitchell) Mary Bonuato (Director, Civil Rights Project, Gay & Lesbian Advocates & Defenders, Boston) Jonathan Rapping (President and Founder, Gideon's Promise, Atlanta) (Hat Tip: Brian Leiter,...

Public Finance Textbooks and the Excess Burdens of Taxation

Cecil Bohanon, John Borowitz & James McClure (all of Ball State), Saying Too Little, Too Late: Public Finance Textbooks and the Excess Burdens of Taxation, 11 J. Econ. Watch 277 (2014): Taxation has several significant excess burdens, including enforcement costs, compliance costs, and deadweight losses. Most estimates find that raising...

Philadelphia Trial Lawyer Gives $50 Million to Drexel Law School

Philadelphia Inquirer, Trial Lawyer Kline Gives $50M to Drexel Law School: In one of the largest gifts ever to a U.S. law school, Drexel University said Wednesday that Philadelphia trial lawyer Thomas R. Kline will give the eight-year-old institution $50 million to bolster its effort to reach the top ranks...

Which IRS Offshore Amnesty Program Is Right For You?

With the Flurry of Bank Letters, Financial Institutions Everywhere are Ferreting Out Americans. Here's What You Need To Know About Which IRS Program To Pick.

The IRS Scandal, Day 497

Wall Street Journal: Koskinen Faces Fresh IRS Fire at House Hearing: House Republicans took Internal Revenue Commissioner John Koskinen to task again on Wednesday, citing his recent criticisms of congressional investigations into alleged IRS targeting of conservative groups. Wednesday’s hearing marked a renewal of GOP attacks on the IRS chief,...

Back To School 2014: American Opportunity Credit

tax credits can help you pay for the costs of higher education. Credits are great because they are dollar for dollar reductions in your taxes due as opposed to deductions which merely reduce your income subject to tax. Additionally, sometimes, as with the American Opportunity Credit, you can actually get money back with credits – [...]

Back To School 2014: Food Allergies & Special Diets

Food allergies? Celiac Disease? Need a low sodium diet? If your doctor says to switch up your diet, can you get a tax break?

Private and often untaxed home rentals under fire

It's a crazy day. I'm trying to get a lot of stuff done before I head off to New Orleans tomorrow for FinCon14, the annual conference for personal finance bloggers. By this time tomorrow, I'll be at the hotel that's hosting the get-together. Show More Summary

Walmart Fined For Fake ‘Sugar Tax’ On Coca-Cola Sales

The State of New York has tried to tax sugary drinks like Coca-Cola for years but has never been able to push a "sugar tax" through the legislature. That didn't keep retailer Walmart from telling customers that there was such a tax - and pocketing the extra.

Census Bureau: U.S. Income Flat, Poverty Rate Falls

U.S. Census Bureau, Income and Poverty in the United States: 2013: Wall Street Journal, U.S. Incomes End 6-Year Decline, Just Barely; Poverty Rate Declines, But Signs of Sluggish Recovery Linger: Washington Post, Poverty Dropped But Household Incomes Didn’t Rise, Census Bureau Says: New York Times editorial, New Data, Old Story:...

2015 Tax Rates, Brackets & Exemption Amounts May Save Taxpayers Money

The U.S. Bureau of Labor Statistics reported today that the consumer price index (CPI) has dropped off by.2%. That dip means that inflation should stay put: what does that mean for 2015 tax rates?

A Red Letter Day at Pepperdine

As I have blogged before, one of my favorite things about Pepperdine is the opportunity to meet some of the interesting people drawn to this place. I had the privlege last night of hearing Tony Campolo deliver a public lecture, followed by a breakfast meeting this morning with Tony and...

NFL’s Tax Break Foes Face 4th and 20

Bloomberg: NFL’s Tax Break Foes Face 4th and 20 With Wind in Face, by Richard Rubin: If there were ever a politically opportune time for Congress to remove the National Football League’s tax exemption, it would seem to be now. A handful of U.S. lawmakers have seized on the domestic...

More on Faculty Development, Faculty Incentives, and Law School Innovation

Following up on my previous post, Faculty Development, Faculty Incentives, and Law School Innovation: American Bar Foundation, Analyzing Carnegie's Reach: The Contingent Nature of Innovation: Analyzing Carnegie’s Reach: The Contingent Nature of Innovation, a recent article published in the Journal of Legal Education [63 J. Legal Educ. 585 (2014)] by...

Tax Roundup, 9/17/14: Is 30 years long enough to find a tenant? And more!

If you can’t get a tenant in 30 years, maybe you’re doing something wrong.  A Minnesota architect named Meinhardt bought […]

Havens Abroad, Shelters Ashore

No more tax havens abroad? The Organization for Economic Cooperation and Development released its plan to limit corporate tax avoidance. All 34 OECD members plus 10 other countries including China and Russia have approved the proposals, though each nation must still implement them. Show More Summary

The Scary Specter of Code Size Ignorance

It’s one of my favorite examples of how tax ignorance afflicts the nation. When something simple about tax cannot be understood, what happens when something complicated is tackled? What happens to confidence in tax policy decision-making...Show More Summary

PolitiFact: Democrats Are Recycling False Accusation That Republicans Support Tax Breaks for Companies That Ship Jobs Overseas

PolitiFact.com, Is There a Corporate Tax Break That Ships Jobs Overseas?: Democrats and their advocates have washed, rinsed and are now repeating one of their favorite talking points from 2012: that "(Insert Republican Here) supports tax breaks for corporations that ship jobs overseas." There’s a lot packed into this insult....

Tax Doubts Dampen Hiring by US Companies

Financial Times, Tax Doubts Dampen Hiring by US Companies: US chief executives see little chance of Congress reforming the country’s tax system after November’s midterm elections, leaving them cautious about hiring and investing for the next six months, a survey of chiefs has found. Randall Stephenson, chief executive of telecoms...

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