Volume 54, No. 3 - Spring 2001

In Memoriam

In Memoriam: Charles M. Walker

Sherwin P. Simmons

Charles M. Walker, Charlie as he was affectionately known, had three passions in life. The first was Gertrude (Gersh as she was known to Charlie and friends), his wife of 57 years. His second was golf. Charlie played golf almost from the time he could hold a club until just a few months before his death. ...

Articles

I Come to Bury Subchapter K, Not to Praise It

Philip F. Postlewaite

The arrival of the new millennium has stirred passions among tax academicians, particularly the need critically to revisit firmly embedded notions of the tax law. Theoretical debate over the current treatment of various issues by the tax law is combined with suggested improvements of the “system.” ...

Employee Benefits Considerations in Joint Ventures

Susan P. Serota

In structuring corporate transactions, companies are increasingly utilizing joint ventures as a form of operating a business. The entities pooling their respective interests in a joint venture often combine their labor forces and, as a consequence, must consider the issues that arise...

The Tax Adviser’s Privilege in Transactional Matters: A Synopsis and a Suggestion

Bruce Kayle

Along with the right to remain silent, the inviolate secrecy of communications between attorney and client and of the contents of the attorney’s files is among the most widely known elements of our legal system. It is almost instinctive to the clients of America that neither what they say to their attorney...

A Transcontinental “A” Train: Foreign Mergers under Section 368(a)(1)(A)

Steven A. Bank

Globally, mergers and acquisitions reached a peak in 2000, with a record $3.5 trillion worth of transactions announced. This record number was fueled in part by an increase in the number of mergers involving corporations located outside the United States. ...

Income Taxation, International Competitiveness and the World Trade Organization’s Rules on Subsidies: Lessons to the U.S. and to the World from the FSC Dispute

Rosendo Lopez-Mata

In a February 2000 ruling, the World Trade Organization’s Dispute Settlement Body adopted the report1 on the complaint brought by the European Communities with respect to the United States tax regime known as the Foreign Sales Corporations. ...

Testimony

Statement of Richard M. Lipton on Behalf of the American Bar Association Section of Taxation, Before the Committee on Finance of the United States Senate on the Subject of Tax Simplification, April 26, 2001

Richard M. Lipton

Mr. Chairman and Members of the Committee: My name is Richard M. Lipton. I appear before you today in my capacity as Chair of the American Bar Association Section of Taxation. This testimony is presented on behalf of the Section of Taxation. ...

Comments

Comments Concerning Regulations Under Section 368 of the Internal Revenue Code Regarding Mergers Involving Disregarded Entities

ABA Section of Taxation

In the proposed regulations, the Internal Revenue Service and Treasury determined that a merger between a disregarded entity and a corporation does not qualify as a reorganization under section 368(a)(1)(A) of the Internal Revenue Code of 1986, as amended. ...

Comments Concerning IRS Notice 2001-10

ABA Section of Taxation

We appreciate the opportunity to comment on the tax issues concerning splitdollar life insurance arrangements raised by Notice 2001-10. We agree that a need exists for updated guidance that reflects contemporary compensation practices...

Notes

Assessing S Corporation Cancellation of Debt Income on Shareholders’ Income and Basis in the S Corporation’s Stock: Gitlitz v. Commissioner

Julie F. Bell

In Gitlitz v. Commissioner, the Supreme Court resolved the divergence of opinion in four of the federal circuit courts regarding the pass through of cancellation of debt income to the shareholders of an insolvent S corporation. The Supreme Court, in reaching its decision...

Reasonableness, First Impression, and the Accuracy-Related Penalty: Neonatology Associates v. Commissioner

Mitzi Chang

In Neonatology Associates v. Commissioner, the Tax Court held, inter alia, that contributions to a voluntary employees’ beneficiary association were not deductible in excess of the cost of life insurance because they were disguised constructive distributions. ...

Fees Paid by Trustees for Investment Strategy Advice and Management Services are Not Deductible Under Section 67(e)(1): Mellon Bank, N.A. v. United States

Danielle Hohos

In Mellon Bank, N.A. v. United States, the Court of Federal Claims held that fees paid by trustees to investment advisors, accountants, tax preparation services, and management services were subject to the two-percent floor in section 67(a) if those same costs would have been incurred had the funds not been held in trust. ...

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Vol. 54, No. 3 - Spring 2001

The Tax Lawyer, Spring 2001

In Memoriam

In Memoriam: Charles M. Walker

Articles

I Come to Bury Subchapter K, Not to Praise It

Employee Benefits Considerations in Joint Ventures

The Tax Adviser’s Privilege in Transactional Matters: A Synopsis and a Suggestion

A Transcontinental “A” Train: Foreign Mergers under Section 368(a)(1)(A)

Income Taxation, International Competitiveness and the World Trade Organization’s Rules on Subsidies: Lessons to the U.S. and to the World from the FSC Dispute

Testimony

Statement of Richard M. Lipton on Behalf of the American Bar Association Section of Taxation, Before the Committee on Finance of the United States Senate on the Subject of Tax Simplification, April 26, 2001

Comments

Comments Concerning Regulations Under Section 368 of the Internal Revenue Code Regarding Mergers Involving Disregarded Entities

Comments Concerning IRS Notice 2001-10

Notes

Assessing S Corporation Cancellation of Debt Income on Shareholders’ Income and Basis in the S Corporation’s Stock: Gitlitz v. Commissioner

Reasonableness, First Impression, and the Accuracy-Related Penalty: Neonatology Associates v. Commissioner

Fees Paid by Trustees for Investment Strategy Advice and Management Services are Not Deductible Under Section 67(e)(1): Mellon Bank, N.A. v. United States

The Tax Lawyer

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Vol. 54, No. 3 - Spring 2001

The Tax Lawyer, Spring 2001

In Memoriam

In Memoriam: Charles M. Walker

Articles

I Come to Bury Subchapter K, Not to Praise It

Employee Benefits Considerations in Joint Ventures

The Tax Adviser’s Privilege in Transactional Matters: A Synopsis and a Suggestion

A Transcontinental “A” Train: Foreign Mergers under Section 368(a)(1)(A)

Income Taxation, International Competitiveness and the World Trade Organization’s Rules on Subsidies: Lessons to the U.S. and to the World from the FSC Dispute

Testimony

Statement of Richard M. Lipton on Behalf of the American Bar Association Section of Taxation, Before the Committee on Finance of the United States Senate on the Subject of Tax Simplification, April 26, 2001

Comments

Comments Concerning Regulations Under Section 368 of the Internal Revenue Code Regarding Mergers Involving Disregarded Entities

Comments Concerning IRS Notice 2001-10

Notes

Assessing S Corporation Cancellation of Debt Income on Shareholders’ Income and Basis in the S Corporation’s Stock: Gitlitz v. Commissioner

Reasonableness, First Impression, and the Accuracy-Related Penalty: Neonatology Associates v. Commissioner

Fees Paid by Trustees for Investment Strategy Advice and Management Services are Not Deductible Under Section 67(e)(1): Mellon Bank, N.A. v. United States

The Tax Lawyer

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