Vol. 25 No. 2 - Winter 2006

From the Chair

Taxation

From the Chair

Dennis B. Drapkin

On November 1, 2005, after some delays, the President’s Advisory Panel on Federal Tax Reform made its report to the Secretary of the Treasury. This is the latest step in a process that the President set in motion in January 2005 with the creation of the Panel by executive order. The report recommends two extensive proposals...

Points to Remember

Taxation

Relief from the Rubble: Tax Assistance for Victims of the 2005 Hurricane Season

Francine J. Lipman and Sean M. Stegmaier

Arecord-breaking hurricane season in 2005 pounded the South with some of the most extreme weather and tragic losses that we have seen in a very long time. August brought Hurricane Katrina, an overwhelming and historically destructive disaster, to the Gulf Coast, displacing millions and injuring and killing thousands of people. ...

Taxation

Treasury Issues Much-anticipated Proposed Partnership Equity Compensation Regulations

Matthew Belcher and Glenn Mincey

On May 20, 2005, the Internal Revenue Service and the Treasury Department issued much-anticipated proposed regulations addressing the U.S. federal income tax treatment of certain transfers of partnership equity (including options to acquire partnership equity) in connection with the performance of services (“compensatory partnership interests”). ...

Point & Counterpoint: Should the Home Mortgage Interest Tax Benefit Be Reduced?

Taxation

Point: Despite Its Flaws, the Panel's Proposal is a Good First Step

Deborah A. Geier

The key to the Tax Reform Act of 1986, which was a thing of brilliance, was that it raised the capital gains tax rate to equal that imposed on ordinary income. Prior to the 1986 Act, the top ordinary income tax rate (applicable to labor income and investment returns other than capital gains, such as interest, rent, and dividends) was 50%...

Taxation

Counterpoint: Current Law is a Better Option

Stuart Lazar

Analyzing any tax reform proposal requires a comparison of the proposal to the ideal—what we think, in a perfect world, should be the correct answer—as well as a comparison to current law to determine whether the reform provides for a better result. The proposal by the Panel to replace the home mortgage interest deduction...

Interview

Taxation

George K. Yin

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

George Yin has been Chief of Staff of the Joint Committee on Taxation since early 2003. He left the staff on November 18, 2005 to return to the University of Virginia School of Law where he will be nominated to become the inaugural Edwin S. Cohen Distinguished Professor of Law and Taxation. ...

Special Report

Taxation

Money Laundering Legislation in the U.K.

Richard Palmer

Money laundering is the process by which the identity and ownership of the proceeds of crime are concealed so that the proceeds appear to originate from a legitimate source and can be retained permanently or recycled into further criminal enterprises. The scope of money laundering laws has broadened significantly over the last couple of years for four reasons. ...

Spotlight on Committees

Taxation

Court Procedure and Practice

Mary A. McNulty

The Court Procedure and Practice Committee focuses on procedural and practice issues arising in tax litigation. The Committee has a long history of active participation by members of the United States Tax Court, the United States Court of Federal Claims, the Office of Chief Counsel of the Internal Revenue Service...

Pro Bono News

Taxation

Pro Bono News

Diana Leyden

VITA Developments; Effectively Representing Your Client Before the "New" IRS:Committee to Oversee Publication of Future Editions

Boxscore

Taxation

Government Submissions Boxscore

ABA Section of Taxation

Since December 2005, the Tax Section has coordinated the following government submissions, which can be viewed and downloaded free of charge from the Section’s website.

News Briefs

Taxation

News Briefs

ABA Section of Taxation

Tax Section news and announcements.

American Bar Association TM American Bar Association

Vol. 25 No. 2 - Winter 2006

NewsQuarterly, Vol. 25 No. 2

From the Chair

From the Chair

Points to Remember

Relief from the Rubble: Tax Assistance for Victims of the 2005 Hurricane Season

Treasury Issues Much-anticipated Proposed Partnership Equity Compensation Regulations

Point & Counterpoint: Should the Home Mortgage Interest Tax Benefit Be Reduced?

Point: Despite Its Flaws, the Panel's Proposal is a Good First Step

Counterpoint: Current Law is a Better Option

Interview

George K. Yin

Special Report

Money Laundering Legislation in the U.K.

Spotlight on Committees

Court Procedure and Practice

Pro Bono News

Pro Bono News

Boxscore

Government Submissions Boxscore

News Briefs

News Briefs