Vol. 37 No. 4 - August 2018

A Time to Reflect

From the Chair

A Time to Reflect

A year serving as Chair of this Section seemed like a long time in August of 2017. Now as I approach August of 2018, I feel there is so much I won’t have time to finish (or start). That’s why succession is so important. Building on the positive legacies of those who came before you ensures those coming behind you will do the same.

Steven M. Rosenthal is a long-time participant in the Washington D.C. tax community in both public and private roles. He is currently a senior fellow in the Urban-Brookings Tax Policy Center where his research and writing focuses primarily on business tax issues.

Must a taxpayer have physical presence to be subjected to sales tax collection obligations in a state, or is such a requirement antiquated and unrepresentative of the virtual world in which we live? That is the issue the U.S. Supreme Court grappled with in South Dakota v. Wayfair.

On July 24, the Ninth Circuit Court of Appeals, in Altera Corp. v. Comm’r, reversed the Tax Court’s Altera ruling that the Treasury’s section 482 transfer-pricing regulations on cost-sharing arrangements was “arbitrary and capricious” under the Administrative Procedure Act.

During debate on the 2017 tax bill that was once slated to become the “Tax Cuts and Jobs Act,” the number of stories referencing an arcane budget law known as the “Byrd rule” skyrocketed in publications. This article briefly describes a much more important and little-known aspect of this little-known rule that might have—and perhaps should have—killed the bill altogether.

While the 2017 tax legislation did not produce all of the changes some had predicted, new rules governing excessive compensation for tax-exempt entities will substantially alter the landscape of executive compensation. Deferred compensation and other executive compensation arrangements for tax-exempt entities differ from those established for taxable for-profit entities.

Section 1202 was enacted in 1993 as an incentive for taxpayers to start and invest in certain small businesses. Currently, the statute provides an exclusion from income for any gain from the sale or exchange of “qualified small business stock” (QSBS) acquired after the effective date of the statute and held for more than five years.

The Sixth Amendment guarantees the right to conflict-free counsel in a criminal case. In addition to the obvious question of whether an attorney can represent co-defendants in a white-collar criminal case, there is the less obvious question of whether the attorney owes a professional duty to non-clients: the criminal defendant’s spouse and children.

Helen Keller would be deeply disappointed to learn that blind individuals in the United States continue to suffer “unaided peculiar expenses,” sky-high unemployment rates and workplace discrimination. The high rates of under and unemployment and lack of livable incomes are due, among other reasons, to the fact that current opportunities for education and employment demand access to technology.

An alternative to traditional moot court competitions, the Law Student Tax Challenge asks two-person teams of students to solve a cutting-edge and complex business problem that might arise in everyday tax practice.

To tune of, “You’ll Never Walk Alone,” by Richard Rodgers and Oscar Hammerstein II, from the 1945 Broadway musical show Carousel.

Government submissions are a key component of the Section's government relations activities. The full archive is available to the public on our website.

Named for the late Jack Nolan, a dedicated and respected Tax Section member, the Nolan Fellow distinction is awarded to young lawyers who are actively involved in the Section and have shown leadership qualities.

The American Bar Association Section of Taxation is pleased to announce that it is now accepting applications for its Christine A. Brunswick Public Service Fellowship program class of 2019-2021.

Save this summer on the Section’s bestselling titles!

Did you know that Tax Section members have access to thousands of pages of cutting-edge committee program materials presented at Section of Taxation Meetings?

The Tax Lawyer, the nation’s premier tax law journal, is published quarterly as a service to members of the Tax Section.

Produced in cooperation with the Tax Section and published by ALI-CLE, The Practical Tax Lawyer offers concise, practice-oriented articles to assist lawyers with all aspects of tax law.

Through the Tax Assistance Public Service (TAPS) endowment fund, the Section of Taxation seeks to provide stable, long-term funding for its tax-related public service programs.

ABA Tax Times (ATT) is looking for volunteers to join its ranks as associate editors to assist in writing and acquiring articles for publication.

ABA Tax Section meetings are a great way to get connected, get educated, and get the most from your membership!

Listen at your convenience to high-quality tax law CLE on a variety of topics.

Opportunities are available to enhance your visibility, grow your network, and expand your reach at ABA Section of Taxation meetings.

The Section of Taxation thanks the sponsors and exhibitors of the 2018 US-Europe and US-Latin America Tax Planning Strategies Conferences.

Thomson Reuters Checkpoint Catalyst™ delivers tax research framed in an entirely new way, so you see the clarity, color and context you need to get the whole picture of each business tax issue.

Volume 37

August 2018

May 2018

March 2018

November 2017

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ABA Tax Times, August2018

ABA Tax Times (ISSN 2381-5868) (formerly the NewsQuarterly) reports on developments pertaining to taxation, Tax Section news and meeting updates, and other information of professional interest to Tax Section members and other readers.

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