Vol. 23 No. 2 - Winter 2004

From the Chair

Taxation

From the Chair

Richard A. Shaw

Much is happening as the Tax Section progresses through the winter season. Closing down abusive tax shelters continues to be a high priority of the Federal Government. Congress still intends to deal with the issue of “economic substance” and increased penalties related to abusive tax shelters. Although legislation has been deferred, there is potential for new tax laws with the coming year. ...

Council Actions

Taxation

Council Actions

Evelyn Brody

On October 30, 2003, the Council of the ABA Section of Taxation met by teleconference at 3:00 p.m. EDT for the purpose of filling unexpired terms in the offices of Secretary and Assistant Secretary. Dick Shaw, Chair of the Section, announced that Shannon Nash, the current Secretary, had recently resigned her office. ...

Points to Remember

Taxation

Back to the Orchard: The Sixth Circuit Examines Contingent Attorney's Fees

Donald R. Bly

Congratulations! That tort lawsuit against your former employer has finally settled to the tune of $1 million. Of course, you will only see $600,000 of that amount, the balance going straight to your attorney; no complaint there, she deserves every penny of it. And you seem to remember that the proceeds from a tort lawsuit are now taxable. But at today’s rates, not a problem—net-net, you will still collect around $300,000. ...

Taxation

The Latest Word on Self-concelling Installment Notes

Kathleen Stephenson and Edward Kessel

Estate of Costanza v. Commissioner, 320 F.3d 595 (6th Cir. 2003), rev’g and remanding T.C. Memo 2001–128, blesses the use of a self-cancelling installment note (SCIN) as a valid estate planning tool. The Sixth Circuit opinion accepts a planning technique approved in Estate of Moss v. Commissioner, 74 T.C. 1239 (1980), but it leaves the valuation of the note as an open issue. ...

Taxation

The Rising Significance of State Death Taxes

Carolyn Joy Lee

The 2001 federal legislation “repealing” the estate tax included, as a revenue-raising feature for the federal fisc, the phased-out repeal of the federal credit for state death taxes. Section 2011(c) had provided a sliding-scale credit against federal estate tax for “the amount of any estate, inheritance, legacy or succession taxes actually paid to any state or the District of Columbia...

Special Report

Taxation

Privelege and the Work Product Doctrine in Tax Cases

Martin J. McMahon, Jr.

Over the past few years, the issue of the applicability of the attorney-client privilege, the related section 7525 tax practitioner-client privilege, and the work product doctrine have emerged as significant issues in tax litigation. For the most part, the recent cases have arisen in the context of marketed tax shelters...

Point & Historical Point: The Tax Protest Movement: Past, Present, and Future

Taxation

Vernice Kuglin and Voluntary Compliance: Not This Year, Thanks

Richard L. Schmalbeck

My greatest fear in writing about the Kuglin case is that I may inadvertently give aid and comfort to the enemy. Kuglin, in which a taxpayer—or, more accurately, a non-taxpayer—was acquitted of tax evasion by a jury in the Western District of Tennessee in August 2003, was a major victory for the tax protester movement. ...

Taxation

Anti-Tax Rhetoric–Tinderbox or Safety Valve?

Marjorie E. Kornhauser

The power to tax, the Supreme Court once said, “is not only the power to destroy, but it is also the power to keep alive.” Nicol v. Ames, 173 U.S. 509, 515 (1898). For over 100 years Americans have remembered and repeated the first half of the sentence and forgotten the second. This selective amnesia is especially striking since...

Interview

Taxation

John Buckley

Jasper L. Cummings, Jr. and Alan J.J. Swirski

John Buckley is the Democratic Chief Tax Counsel to the Committee on Ways and Means. In his 30 years of service on Capitol Hill, he has seen the tax legislative process from a number of angles, including that of a drafter in the House Legislative Counsel’s office and Chief of Staff of the Joint Committee on Taxation. ...

Spotlight on Committees

Taxation

Foreign Activities of U.S. Taxpayers

Peter H. Blessing

Faust, of course, was the legendary academician who, having mastered law and philosophy, science and literature, and every other branch of learning, was tempted by the devil to trade his soul for the pleasures of the body and youth. Our FAUST Committee...

Pro Bono Update

Taxation

Now It's Easier Than Ever to Become a VITA Volunteer

Brian P. Trauman

The IRS Volunteer Income Tax Assistance (VITA) nationwide program was organized to provide free assistance to low-income, elderly, disabled, and other individuals who require assistance in preparing their tax returns and cannot afford the services of a paid professional tax preparer. ...

News Briefs

Taxation

News Briefs

ABA Section of Taxation

Tax Section news and announcements.

Tax Bites

Taxation

Hummer, 1 – Section 280F, 0

Gail Levin Richmond

But why should your editors have all the fun? Judges regularly introduce literature (great and not-so great) into their tax opinions. Tax lawyers aren’t narrowly focused number crunchers. Enjoy the three examples below. ...

American Bar Association TM American Bar Association

Vol. 23 No. 2 - Winter 2004

NewsQuarterly, Vol. 23 No. 2

From the Chair

From the Chair

Council Actions

Council Actions

Points to Remember

Back to the Orchard: The Sixth Circuit Examines Contingent Attorney's Fees

The Latest Word on Self-concelling Installment Notes

The Rising Significance of State Death Taxes

Special Report

Privelege and the Work Product Doctrine in Tax Cases

Point & Historical Point: The Tax Protest Movement: Past, Present, and Future

Vernice Kuglin and Voluntary Compliance: Not This Year, Thanks

Anti-Tax Rhetoric–Tinderbox or Safety Valve?

Interview

John Buckley

Spotlight on Committees

Foreign Activities of U.S. Taxpayers

Pro Bono Update

Now It's Easier Than Ever to Become a VITA Volunteer

News Briefs

News Briefs

Tax Bites

Hummer, 1 – Section 280F, 0