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The IRS Scandal, Day 840

New York Post editorial, The IRS Scandal Goes to the Dogs: Move over, Carlos Danger, there’s a new alias in town: Toby Miles, an electronic front for Lois Lerner. Lerner famously took the Fifth rather than testify about how the Internal Revenue Service came to target right-leaning advocacy nonprofits in...

Lois Lerner used her dog's email to conduct IRS business

What is it about government employees and emails? Hillary Clinton's use of a personal email account to send some State Department messages has gotten a lot of attention and criticism. But the 2016 Democratic presidential candidate is not the only one. Show More Summary

I Found Happiness When I Abandoned My Work As A Lawyer And Became A Clown

New York Times: Abandoning the Work I Hated, by Robert Markowitz: I was the envy of my 30-something friends in Palo Alto, Calif. I had my own law office right on California Avenue. People charged with crimes handed me cash, in advance, over a big oak desk. Occasionally, I’d make...

Kuehn: Measuring Legal Education's Employment Outcomes

Robert R. Kuehn (Washington University), Measuring Legal Education's Employment Outcomes, 2015 Wis. L. Rev. ___ : This Article examines evidence of a possible link between learning opportunities in law school and J.D. employment outcomes. It responds to a paper [Does Experiential Learning Improve JD Employment Outcomes?] by Jason Yackee that...

How H&R Block Is Making The Tax Code More Complicated For America’s Poor

Vox, H&R Block Snuck Language into a Senate Bill to Make Taxes More Confusing for Poor People: H&R Block's entire business model is premised on taxes being confusing and hard to file. So, naturally, the tax preparation company has become — along with Intuit, the company behind TurboTax — one...

Canadian Politician Hopes to Adopt a Version of the U.S. Educator Expense Deduction

This morning, Justin Trudeau, the leader of the Canadian Liberal Party, proposed a new tax credit for teachers, to help cover out-of-pocket classroom expenses. The proposed credit is largely similar to the educator expense deduction in the U.S. Show More Summary

Historical Novel: Could Flaws In Enactment Of 16th Amendment Bring Down Income Tax, Global Economy?

Steve Berry, The Patriot Threat (Cotton Malone Series Book 10) (2015): The 16th Amendment to the Constitution is why Americans pay income taxes. But what if there were problems associated with that amendment? Secrets that call into question decades of tax collecting? In fact, there is a surprising truth to...

A Rudeness Tax?

A reader alerted me to an unusual book, Tax the Rude, Not Me!. The examples provided in the preview tend to confirm the depiction of the book as humor. For example, they propose an “outer limits tax” on “infuriating supermarket shoppers...Show More Summary

Foundation Press Publishes New Seventh Edition Of Federal Wealth Transfer Taxation

Foundation Press has published the new seventh edition of our casebook, Federal Wealth Transfer Taxation (amazon), by the late Paul McDaniel (Florida), Jim Repetti (Boston College), and me: This edition continues the comprehensive, yet flexible, presentation of prior editions. It explores technical and policy issues and is adaptable for use...

Fleischer: Private Equity Fees Paid By Universities Deserve Examination

New York Times Deal Book: Private Equity Fees Paid by Universities Deserve Examination, by Victor Fleischer (San Diego): Some financial professionals reacted to my Aug. 19 Op-Ed article on private equity fees and university endowments by emphasizing that superior performance justifies superior fees. Fair enough. The essay focused on the...

The Economic Guide To Picking A College Major: It's TEM, Not STEM

Five Thirty Eight, The Economic Guide To Picking A College Major: The millions of American college students heading back to campus this month face a grim reality: A college degree is no guarantee of economic success. But through their choice of major, they can take at least some steps toward...

The IRS Scandal, Day 839

National Review, Who’s Toby Miles?, by Eliana Johnson: The IRS disclosed in a court filing on Monday that former agency official Lois Lerner used a second personal e-mail operated under the alias “Toby Miles” to conduct IRS business. Her use of the mysterious account has prompted speculation into the source...

Michael Jordan Nets Multimillion Dollar Verdict, Pledges To Give It Away

Michael Jordan netted a big award in his lawsuit against Safeway for the use of his name. What does he plan to do with it? He's already decided.

Charts of Examples in Code §6038A Regulations: Form 5472 Reporting Requirements

Form 5472 is used to provide information required under Code §§6038A and 6038C when reportable transactions occur during the tax year of a reporting corporation with a foreign or domestic related party. The reportable transactions are essentially related party transactions....

IRS issues Applicable Federal Rates (AFR) for September 2015

The IRS has issued (Rev. Rul. 2015-19) the minimum required interest rates for loans made in September 2015: -Short-Term (demand loans and […]

NY Times Op-Ed: Too Many Law Students, Too Few Legal Jobs

New York Times op-ed: Too Many Law Students, Too Few Legal Jobs, by Steven J. Harper (Adjunct Professor, Northwestern; author, The Lawyer Bubble): Ten months after graduation, only 60 percent of the law school class of 2014 had found full-time long-term jobs that required them to pass the bar exam....

IRS Strikes Out, Settles Estate Tax Litigation Over Valuation Of Minnesota Twins For 20 Cents On The Dollar

Forbes: Estate Of Late Minnesota Twins Owner Carl Pohlad Settles With IRS, by Ashlea Ebeling: The late Minnesota Twins owner Carl Pohlad’s three sons, executors of his estate, have chalked up a victory in a settlement with the Internal Revenue Service. Forbes’ Janet Novack first wrote here about the lawsuit...

Four Tax Takeaways from the Most Recent CBO Report

Today, the Congressional Budget Office released its semiannual Budget and Economic Outlook report, which forecasts the federal budget deficit over the next ten years, as well as several other economic indicators. An important part of...Show More Summary

California's 15-Credit Practical Skills Requirement Divides AALS: Clinicians Favor, Dean Oppose

National Law Journal, Practical-Skills Plan Divides Law School Association: Whether the State Bar of California’s plan to require new attorneys to complete at least 15-credits of practical skills courses in law school is unduly restrictive or a needed step to ensure they have some real-world competencies depends on whom you...

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