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How the Byrd Rule Might Have Killed the 2017 Tax Bill . . . and Why It Didn’t

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.

Executive Compensation for Tax-Exempt Entities After Tax Reform

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: A Big Deal for Small Business

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.

Wives Need Their Own Lawyers When their Husbands are Accused of Tax Evasion and Other White-Collar Crimes

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.

Pro Bono Matters

#CriptheCode to Enable Work

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.

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About ABA Tax Times

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. Have a question or comment regarding a recent ABA Tax Times article? Send us your thoughts via e-mail to: taxweb@americanbar.org