Federal Tax Liens – Part I

Burton J. Haynes
The federal tax lien is at the heart of all enforced collection action taken by the IRS Collection Division. Accordingly, representing clients requires an understanding of how the lien arises, the kinds of property to which it attaches, the consequences of such attachment, the duration of the lien, the priority of the tax lien over the interests of other claimants to the taxpayer's property, and the circumstances under...

Which is Worse,Tax Fluctuations or Spending Fluctuations?

David Gamage
Acknowledgements: Many thanks to Michael Abramowicz, Bruce Ackerman, Anne Alstott, Alan Auerbach, Ian Ayres, Robert Bartlett, Lily Batchelder, Mitch Berman, Neil Buchanan, Terry Chorvat, Mechele Dickerson, Michael Doran,Elizabeth Garrett, Mark Gergen, James Hines, Jonathan Klick, Kinch Hoekstra, Calvin Johnson, AmyKapczynski, Louis Kaplow, Michael Knoll, Kyle Logue, Dan Markovits, Ed McCaffery, Melissa Murray,Leslie...

Taxation of the Really Big House

Calvin Johnson
A. Overview Serious long-term tax reform will need to limit the considerable tax advantages now available in owning the very largest houses and other personal-use properties. The primary return from the investment in residences and similar property is the rental value of the personal use of the house, which is always tax exempt. If the property appreciates, the gain from a principal residence is usually tax exempt....

Heuristics and Biases in Thinking About Tax

Edward Mccaffery
Written by: Edward J. McCaffery(#) and Jonathan Baron (t) Abstract The principal findings of behavioral economics and cognitive psychology over the past several decades have been to show that human beings deviate from ideal precepts of rationality in many settings, showing inconsistent judgment in the face of framing and other formal manipulations of the presentation of problems. This paper summarizes the findings...

Considering Tax Expenditures In State Budget Deliberations

Bradley T. Borden
I. Introduction I am going to speak generally about three components of state public finance: first, tax revenue; second, government expenditures; and third, the allocation of the tax burden. I will illustrate how tax expenditures, such as sales-tax exemptions and other preferential laws, affect each component of public finance. In all of this, we must remember that budget deliberations should focus on keeping...

New York Adopts a VAT

Richard Ainsworth
INTRODUCTION Virtual intermediaries (enterprises like Priceline.com,[1] Expedia.com,[2] Orbitz.com,[3] and Travelocity.com[4]) are having a significant impact on state and local revenues. These enterprises (room remarketers) acquire lodging at steep discounts and then resell the accommodations to the public. When rooms are resold the discount the public receives is more modest. The difference is the intermediary's...

Gilmore v. United States: The Divorce

Joel Newman
Don and Dixie Gilmore divorced in 1955. He deducted 80 percent of his $40,000 in legal expenses because they were connected to his business. He claimed: (1) if Dixie had won, she would have taken over his automobile dealerships and fired him;[1] and (2) if Dixie’s allegations of Don’s misbehavior had been confirmed, General Motors would have terminated his dealer franchises.[2] The Supreme Court denied his...

Americans and their “Wheels”: A Tax Policy for Sustainable Mobility

Mona Hymel
Mona L. Hymel* and Beth S. Wolfsong** “[I]mposing a tax - any tax - is both powerful and manipulative.”[1] Economists, lawyers, environmentalists, other policy makers and scholars have written extensively about the use and benefits of economic instruments, such as taxes, to affect behavior that harms the environment. Tax incentives and subsidies have long played a key role in the development of fossil fuels,[2]...

Virtual Intermediaries: Consumption Tax Problems In Japan, Europe, And The United States – The Case Of The Virtual Travel Agent

Richard Ainsworth
INTRODUCTION Marketplace technology is (inadvertently) chipping away at the effectiveness of consumption taxes – the Japanese Consumption Tax (CT), the European value added tax (VAT), and the American sales tax (ST) are all affected. Frequently a technology-patch or a law change can repair the tax-damage, but sometimes even though a patch or a change is known the design of the levy (or the politics behind the design)...

The United States’ Experience with Energy-Based Tax Incentives: The Evidence Supporting Tax Incentives for Renewable Energy

Mona Hymel
Developing sustainable markets for renewable energy technologies presents complex challenges. Financial, institutional and informational obstacles impede advancement of these technologies. Tax incentives are often utilized to assist policy makers in dealing with these challenges.[1] Because tax incentives and subsidies generally decrease governmental revenues, understanding their costs and benefits is critical in determining...
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