Vol. 27 No. 4 - Summer 2008

Swallows Holding: Chevron’s Growing Traction in Tax Litigation

Steve R. Johnson

The proper role of Chevron in tax has long been debated. Chevron U.S.A., Inc. v. Natural Resources Defense Council, Inc., 467 U.S. 837 (1984). By now, it has be come generally accepted that Chevron provides the analytical framework for evaluating challenges to specific-authority tax regulations.

From the Chair

Stanley L. Blend

This is my final message to you as Chair of the Tax Section. I want to thank each of you for allowing me the privilege of serving as your Chair for the past year. Throughout the year, the Section has been very active in our comment proj-ects to Congress and federal agencies, and in our meetings and CLE programming; and serving as Chair during this time has been very rewarding.

From the Chair-Elect

William J. Wilkins

The prospect of becoming Chair of the Section of Taxation made me more aware than ever of how deeply the Section relies on the dedication and excellence of volunteer Section leaders and professional Section staff. We have enjoyed remarkable volunteer leadership, especially from Stanley Blend as Chair, but also from energetic and dedicated Vice Chairs, Council Directors, and Committee officers.

Interview: Dr. Eric Toder

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

Dr. Eric Toder is a Senior Fellow with the Urban Institute, who works in the areas of taxation, fiscal policy and retirement policy. He was Deputy Assistant Secretary for Tax Analysis in the U.S. Treasury Dept. from 1993-1996, and Director of the Office of Research at the IRS from 2001-2004, and earlier was Deputy Assistant Director for Tax Analysis at the Congressional Budget Office.

News Briefs

Brief items of interest.

An MTC Mediation Success Story

Mark Buchi, Bruce Ely, Stewart Weintraub, Steve Young

Since the implementation of the Uniform Division of Income for Tax Purposes Act (UDITPA) in the 1950s, courts, com-mentators and legislators have hypothesized about the pitfalls of a non-uniformly applied multistate corporate income tax system. In 2000, three individuals got caught by the perfect tax storm, and fell squarely into the pit. This is their story.

Net Unrealized Appreciation: An Option for the Effective Distribution of Retirement Plan Assets

Elizabeth Lindsay-Ochoa

Over the next several years, more and more baby boomers will begin to retire. Among other decisions, these boomers will need help to determine the most effective distribution for their 401(k) retirement plan assets. Because 401(k) plans offer tax-deferred contributions and tax-deferred growth, many employees have significant bal-ances available for their retirement.

The Nonprofit Law Professors Blog

Darryll K. Jones

Web Logs or “Blogs” are all the rage these days. Indeed, these Internet sites serve as the great equalizer for the dissemina-tion of information and ideas. Only a few years ago, during what our children view as really ancient history, the dissemina-tion of information and ideas was the exclusive privilege of the wealthy, or of well endowed publishing houses or TV networks. Blogs have changed that dynamic. Today, almost anyone with a library card (by which to access the Internet) can be a publisher.

Changing Tradeoffs Confront Employee-Shareholders Who Want to Access Corporate Profits

Richard Winchester

An employee-shareholder of a closely held C corporation can access the earnings of the business in at least two ways. The corporation can pay the employee-shareholder compensation for any work performed for the company. It can also distribute its profits as a dividend.

2008 Distinguished Service Award Recipient M. Carr Ferguson, Jr.

Kenneth W. Gideon

The Section of Taxation honors M. Carr Ferguson, Jr. as the 2008 recipient of its Distinguished Service Award in recognition of his outstanding career in the tax law and contributions to our profession and the Section.

Tax Bites: Coltec on My Mind

Herbert N. Beller

Editor’s Note: Past Section Chair Herb Beller authored this issue’s column. We invite our readers to send additional contributions to our tax-oriented songbook.

Boxscore

Submissions and comments on government regulations, administrative rulings, ABA policy and blanket authorities.

CLE Calendar

Upcoming CLE events.