Vol. 64, No. 1 - Fall 2010

Taxation

“Blockers,” “Stoppers,” and the Entity Classification Rules

Willard B. Taylor

Tax lawyers often refer to “blockers” or “stoppers”—what are these? Generically, a blocker or stopper is an entity inserted in a structure to change the character of the underlying income or assets...

Taxation

The Taxation of Distressed Debt Investments: Taking Stock

Deborah L. Paul

In the most recent economic downturn, mergers and acquisitions deal-making became a story about debt. While conventional strategic and private equity acquisitions subsided, debt of potential acquisition targets...

Taxation

Taxing Innovation?—The Evolving Coverage of the Information Technology Agreement

Shin-yi Peng

The World Trade Organization Ministerial Declaration on Trade in Information Technology Products was concluded at the Singapore Ministerial Conference in December 1996. ...

Taxation

Deterring Tax-Driven Partnership Allocations

Gregg D. Polsky

How to allocate a partnership’s tax items is the most fundamental issue in subchapter K of the Code, which governs the taxation of partnerships. One could envision a purely elective regime...

Taxation

Cross-Examination of the Government’s Witnesses in a Criminal Tax Defense Case

Michael Louis Minns

“In all criminal prosecutions, the accused shall enjoy the right to a speedy and public trial, by an impartial jury . . . [and] to be confronted with the witnesses against him . . . .”1 That impartial jury decides the ultimate question of guilt or innocence based...

A Foolish Inconsistency? The Differential Treatment of Recurring Obligations in Treasury Regulation Sections 20.2053-1 and 20.2053-4

Sarah Grandfield

In October 2009, the Treasury Department issued final regulations pertaining to amounts deductible from a decedent’s gross estate for certain expenses and indebtedness, as described in section 2053(a)(3) of the Code. ...

Right Answer, Wrong Questions: Rethinking Private Letter Ruling 2008-22-041 and Its Implications for Supporting Organizations Seeking Excess Business Holdings Exemptions

Mhairi Collins

In Private Letter Ruling 2008-22-041, the Service applied for the first time the exception releasing certain type III not functionally integrated supporting organizations (type III NFI SOs) from excess business holdings excise tax liability. ...

From General to Specific: The Arm’s-Length Standard’s Evolution and Its Relevancy in Determining Costs to Be Shared in Cost-Sharing Agreements

Edward B. Dix

The various opinions issued by the U.S. Court of Appeals for the Ninth Circuit in Xilinx, Inc. v. Commissioner are illustrative of the confusion surrounding the arm’s-length standard and its application to cost-sharing agreements. ...

Pitt County v. Hotels.com: The Dormant Commerce Clause and State Taxation of Online Travel Companies

Jennifer Rothschild

Hotel and motel occupancy taxes have recently come under scrutiny, particularly in their application to online travel companies. Online travel companies such as Hotels.com and Priceline.com, make various online booking...