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Lawmakers Ask Dept. Of Ed To Extend Student Loan Discharge For Charlotte Law School Students

Following up on my previous posts (links below): ABA Journal, Lawmakers Ask Dept. of Ed to Extend Student Loan Discharge for Charlotte School of Law Students: The Department of Education has the authority to extend enrollment requirements for school loan discharges if there are “exceptional circumstances,” which is what should...

The Top Five New Tax Papers

This week's list of the Top 5 Recent Tax Paper Downloads is the same as last week's list: [402 Downloads] Background and Current Status of FATCA and CRS, by William Byrnes (Texas A&M) [295 Downloads] Rejecting Charity: Why the IRS Denies Tax Exemption to 501(C)(3) Applicants, by Terri Lynn Helge...

Mnuchin money meme arises from currency photo shoot

As a wife of many years, I appreciate it when a couple likes to share big moments. But such spousal closeness backfired spectacularly when Treasury Secretary Steven Mnuchin brought his wife, Louise Linton, with him when he went to check out his signature that's now appearing on U.S. Show More Summary

This Week's Ten Most Popular TaxProf Blog Posts

Bryan Camp (Texas Tech), Lesson From The Tax Court: The Power Of Fact-Finding Western Michigan-Cooley Law School Seeks TRO To Prevent ABA From Releasing A Letter About Its Accreditation Status Shu-Yi Oei (Boston College) & Diane M. Ring (Boston College), The Senate Tax Bill And The Battles Over Worker Classification...

Cornell Law Prof: I Never Thought The Free Speech Mob Would Come Me. Until They Did.

USA Today op-ed: My Pro-free Speech Views Made Me the Target of a Smear Campaign at Vassar College, by William Jacobson (Cornell): From UC Berkeley in the west to Middlebury College in the northeast, and at dozens of colleges and universities in between, we have seen speakers disrupted, shouted-down, shut-down...

The 'Trump Bump' Grows As College Grads From Both Sides Of The Political Spectrum Flock To Law School

Chicago Tribune, After Trump's Election, More Students Consider Law School, Hoping to Make a Difference: [There is] a group of students across the political spectrum who were so moved by last November’s election that they decided to take the Law School Admissions Test, or LSAT, because they view law school...

Some Wealthy Persons Don’t Want Tax Cuts

Occasionally readers contact me to ask why I dislike wealthy people. I explain that I don’t dislike them, I simply think they don’t need any more tax cuts. Readers ask me why I describe the wealthy as a monolithic group. I admit that in the interest of making sentences readable, I don’t qualify the term wealthy with long phrases each time I use it. Show More Summary

Colon: ETFs And In-Kind Redemptions

Jeffrey M. Colon (Fordham), The Great ETF Tax Swindle: The Taxation of In-Kind Redemptions, 122 Penn St. L. Rev. ___ (2017): Since the repeal of the General Utilities doctrine over 30 years ago, corporations must recognize gain when distributing appreciated property to their shareholders. Regulated investment companies (RICs), which generally...

Weekly SSRN Tax Article Review And Roundup

This week, Sloan Speck (Colorado) reviews a new work by Kitty Richards, An Expressive Theory of Tax, 27 Cornell J.L. & Pub. Pol’y ___ (2018). In the early twentieth century, Joseph Schumpeter wrote that “[t]he spirit of a people, its cultural level, its social structure, the deeds its policy may...

Weekly Legal Education Roundup

ABA Journal, ABA places Thomas Jefferson School of Law on probation ABA Journal, Texas law school serving at-risk students achieves 59% bar pass rate ABA Journal, Valparaiso law school told by board to not admit first-year students in 2018 ABA Section of Legal Education and Admission to the Bar, Council...

Are Pass-Through Businesses Treated Fairly Under the Senate Version of the Tax Cuts and Jobs Act?

A more careful look shows that the Senate Tax Cuts and Jobs Act doesn't put pass-through businesses at a disadvantage compared to C corporations.

Tax Policy In The Trump Administration

Bloomberg, Big Winner in a Pass-Through Tax Cut? Real Estate Bloomberg, Senate’s Offshore Tax Ideas Could Be a ‘Goldmine’ for Some Companies Bloomberg, Senate Plan Hikes Taxes by 2021 on Some Lower-Income People, Panel Says Bloomberg View (Mihir Desai), Politics Isn't the Only Barrier to Real Tax Reform Bloomberg View...

After 86% Enrollment Decline, Valparaiso Law School Stops Admitting Students And Will Likely Close

Wall Street Journal, Valparaiso Law School Suspends Admissions: The tough climate for legal education has claimed another victim. Valparaiso University, a private university in Northwest Indiana, said Thursday its board of directors voted to stop enrolling new law school students, meaning the law school will likely be wound down over...

ATPI Hosts Conference Today On Tax Incentives For State, Local, And International Economic Development

The American Tax Policy Institute hosts its Annual Fall Conference today on Tax Incentives for State, Local, and International Economic Development at Skadden in Washington, D.C.: US states and localities spend $45 billion annually on tax incentives and other programs intended to spur economic development. Countries around the world similarly...

Avi-Yonah: Altera, The Arm’s Length Standard, And Customary International Tax Law

Reuven S. Avi-Yonah (Michigan), Altera, the Arm’s Length Standard, and Customary International Tax Law, 38 Mich. J. Int'l L. Opinio Juris 1 (2017): The recent Altera case in the US Tax Court (on appeal to the Ninth Circuit) raises interesting issues in regard to the much-debated topic of whether customary...

Goldin Presents Complexity and Take-up of the Earned Income Tax Credit At Northwestern

Jacob Goldin (Stanford) presented Complexity and Take-up of the Earned Income Tax Credit at Northwestern yesterday as part of its Advanced Topics in Taxation Workshop Series hosted by Sarah Lawsky: Tax benefits like the Earned Income Tax Credit (EITC) represent an important source of income to their recipients, but millions...

Understanding JCT’s New Distributional Tables for the Senate’s Tax Cuts and Jobs Act

Much attention is being paid to distributional tables released by JCT on the Senate's Tax Cuts and Jobs Act, but their results don’t quite seem to show what some are suggesting. While the results appears to show a tax increase for some...Show More Summary

The House Takes a Big Step Forward on Tax Reform

The House of Representatives passed the Tax Cuts and Jobs Act by a vote of 227-205. Here is a summary of the major provisions in the final package.

The Economics of Permanent Corporate Rate Cuts Must Outweigh the Optics of Sunsetting Individual Tax Cuts

The Senate Tax Cuts and Jobs Act is right to make the most pro-growth policies permanent and sunset the ones that will do less economic harm.

How to Respond When the IRS Makes a Mistake

Charged with administering, enforcing, and collecting taxes from millions of Americans, the IRS understandably makes mistakes. If the IRS is trying to charge you penalties or assess taxes incorrectly, or is attempting to seize your bank account or put a lien on your house, you have options for disputing the IRS action and arguing your […]

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