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The Pope on Taxestag:typepad.com,2003:post-6a00d8341c4eab53ef011571ea6c87970b2009-07-10T06:15:00-04:002009-07-10T10:15:00Z2009-07-10T10:15:00ZPope Benedict XVI has released his encyclical, Caritas in Veritate, which focuses on the current economic crisis and includes this tax policy proposal: One possible approach to development aid would be to apply effectively what is known as fiscal subsidiarity, allowing citizens to decide how to allocate a portion of...Paul CaronCelebrity Tax LoreTaxSenate Democrats to Propose Raising Taxes on Capital Gains, Dividends, and Interest to Fund Health Care Reformtag:typepad.com,2003:post-6a00d8341c4eab53ef011571eaf6b0970b2009-07-10T05:55:00-04:002009-07-10T09:55:00Z2009-07-10T09:55:00ZBloomberg reports that Democrats on the Senate Finance Committee are considering embracing a proposal put forth this week by Citizens for Tax Justice to applying the 1.45% Medicare tax to capital gains, dividends, and interest to fund health care reform, coupled with a 2.5% surtax on incomes over $200,000 (single)...Paul CaronCongressional NewsTaxThink Tank ReportsFormer BDO Seidman Pleads Guilty in Criminal Tax Shelter Casetag:typepad.com,2003:post-6a00d8341c4eab53ef011571ea9e5b970b2009-07-10T05:45:00-04:002009-07-10T09:45:00Z2009-07-10T09:45:00ZRobert Greisman, a CPA and tax lawyer, former partner in BDO Seidman's Chicago office, pleaded guilty yesterday to three counts of conspiracy to defraud the United States in connection with tax shelter transactions marketd by his firm and the Jenkens & Gilchrist law firm. United States v. Daugerdas, No. S109CR581...Paul CaronNew CasesNewsTaxTax Protestors Ed and Elaine Brown Are Convicted on All Countstag:typepad.com,2003:post-6a00d8341c4eab53ef011570f6285a970c2009-07-10T03:39:00-04:002009-07-10T07:39:00Z2009-07-10T07:39:00ZI previously have blogged (here, here, here, here, and here) the case of tax protestors Ed and Elaine Brown who, after being convicted of evading $1.9 million in taxes on her dental practice, holed up in their New Hampshire mountaintop home for months, vowing to die fighting rather than surrender....Paul CaronCelebrity Tax LoreNew CasesNewsTaxRoller Skating Babiestag:typepad.com,2003:post-6a00d8341c4eab53ef011571eb23c6970b2009-07-10T01:28:37-04:002009-07-10T05:28:37Z2009-07-10T05:28:37ZPaul CaronLegal EducationTaxDeductibility of Michael Jackson's Funeral Expensestag:typepad.com,2003:post-6a00d8341c4eab53ef011570f24138970c2009-07-09T16:09:08-04:002009-07-09T20:11:52Z2009-07-09T20:09:08ZDavid Shulman (via the Tax Girl) asks Are Michael Jackson's Funeral Costs Deductible for Estate Tax Purposes? His answer: Everything involved with the funeral (not the public memorial but the private funeral) itself, no matter how extravagant or expensive will be allowed as a deduction. Everything involved with purchasing and...Paul CaronCelebrity Tax LoreTaxWells Fargo Redux: Sen. Grassley Accuses IRS of Overstepping its Authority in IR-2009-44tag:typepad.com,2003:post-6a00d8341c4eab53ef011571e6e634970b2009-07-09T15:49:48-04:002009-07-09T20:00:44Z2009-07-09T19:49:48ZDow Jones: Sen Grassley Says IRS Defied Congress on Tax Credit, by Martin Vaughan: A senior Republican senator is questioning whether the IRS overstepped its authority in implementing a tax credit in economic stimulus legislation for home energy efficiency upgrades. The provision allowed homeowners to claim a tax credit of...Paul CaronNewsTaxTax Court: LLCs Not Subject to Limited Partnership Passive Loss Disallowance Ruletag:typepad.com,2003:post-6a00d8341c4eab53ef011571e669ba970b2009-07-09T13:46:00-04:002009-07-09T17:07:30Z2009-07-09T17:46:00ZSection 469(h)(2) treats a limited partnership interest as presumptively passive for purposes of the passive loss rules, with the result that partnership losses cannot offset the limited partner's salary or investment income. In Garnett v. Commissioner, 132 T.C. No. 19 (June 30, 2009), the Tax Court held that LLC interests...Paul CaronNew CasesTaxChronicle: Are Law Schools Churning Out Too Many Lawyers?tag:typepad.com,2003:post-6a00d8341c4eab53ef011571e68398970b2009-07-09T13:44:20-04:002009-07-09T20:03:27Z2009-07-09T17:44:20ZChronicle of Higher Education: Law Schools Mull Whether They Are Churning Out Too Many Lawyers, by Katherine Mangan: At a time when law-school graduates are facing greater debt and fewer job opportunities, the University of Miami School of Law has offered to pay accepted students to stay away—at least for...Paul CaronLegal EducationDisgraced Former Cravath Tax Lawyer Wants $100m For Police Monitoring After Guilty Plea to Teenage Rape Chargestag:typepad.com,2003:post-6a00d8341c4eab53ef011571e64481970b2009-07-09T12:23:47-04:002009-07-09T16:25:19Z2009-07-09T16:23:47ZI previously blogged (links below) the sordid tale of James Colliton, a former tax lawyer at Cravath who plead guilty to statutory rape and patronizing a prostitute. The latest chapter in this sordid tale from the Poughkeepsie Journal: [A] Town of Poughkeepsie man who allegedly paid a mother so he...Paul CaronTaxTreasury Department Releases Updated Tax Gap Reporttag:typepad.com,2003:post-6a00d8341c4eab53ef011571e0efe7970b2009-07-09T06:00:00-04:002009-07-09T10:00:00Z2009-07-09T10:00:00ZThe Treasury Department yesterday delivered an Update on Reducing the Federal Tax Gap and Improving Voluntary Compliance to Senate Finance Committee Chair Max Baucus: Building on reports previously released, this report is intended to provide a comprehensive overview of efforts to close the tax gap. This report is also intended...Paul CaronGov't ReportsIRS NewsTaxIowa President's Goal for New Law Dean: Improve U.S. News Ranking (From #26)tag:typepad.com,2003:post-6a00d8341c4eab53ef011570dff326970c2009-07-09T05:45:00-04:002009-07-07T21:28:10Z2009-07-09T09:45:00ZFrom a Des Moines Register interview with University of Iowa President Sally Mason: Q: I am an Iowa College of Law alum, and I am concerned about the path the school has taken the past few years, dropping out of the top 25 rankings and losing key members of the...Paul CaronLaw School RankingsLegal Education2009 IRS Research Conference Concludes Today at Georgetowntag:typepad.com,2003:post-6a00d8341c4eab53ef011571dca7e3970b2009-07-09T05:00:00-04:002009-07-09T09:00:00Z2009-07-09T09:00:00ZThe 2009 IRS Research Conference concludes today at Georgetown. A list of today's panels, speakers and papers is here and below the fold: Issues Affecting High-Wealth Individuals Moderator: Anne Parker (Small Business/Self-Employed, IRS) Kevin Moore (Board of Governors, Federal Reserve), Barry Johnson & Lisa Schreiber (both of Research, Analysis, and...Paul CaronConferencesIRS NewsTaxSwiss to Block Release of UBS Client Data to U.S. in Tax Shelter Crackdowntag:typepad.com,2003:post-6a00d8341c4eab53ef011571e10565970b2009-07-09T01:21:58-04:002009-07-09T13:03:51Z2009-07-09T05:21:58ZAssociated Press ataxingmatter Bloomberg Financial Times New York Times Wall Street Journal Web CPAPaul CaronNewsTaxIllinois "Clout" Commission Doesn't Buy Law School's Explanationtag:typepad.com,2003:post-6a00d8341c4eab53ef011571dd53b8970b2009-07-09T00:37:00-04:002009-07-09T13:15:17Z2009-07-09T04:37:00ZLaw Librarian Blog has a detailed post on Chancellor Richard Herman's testimony before the Mikva Commission investigating the "clout" admissions practices at the University of Illinois and its law school, including this fascinating exchange: The Chicago Tribune reports Chancellor Herman tried to downplay disclosed email exchanges with then Dean Heidi...Paul CaronLegal Education