Taylor Swift’s songs inspire generations of fans to sing and dance about love and to “shake . . . off” heartbreak. Swift’s hard-earned “reputation” for being a savvy music mogul inspires other creative spirits to be “fearless” in their artistic endeavors. But unless these artists are songwriters and musicians, they should keep their “eyes open” when selling their works, as they may see “red” when they discover their tax...
Tax
Social data production—accumulating, processing, and using large volumes of data about people—is a unique form of value creation that characterizes the digital economy. Social data production also presents critical challenges for the legal regimes that encounter it. This Article provides scholars and policymakers with the tools to comprehend this new form of value creation through two descriptive contributions. First, it presents a theoretical...
Anthropogenic climate change is altering humanity’s relationship to the natural world. As extreme weather events become more frequent and biodiversity plummets, humankind has three responsibilities: lower carbon dioxide emissions, preserve what remains of the natural world, and generate new pockets of nature to slowly rebuild what we have destroyed.
Trees—particularly when grouped together in forests—are humanity’s allies. Yet while...
In view of decades of devastating police violence and efforts to reform policing, this Note points to two concurrent phenomena that result in the federal tax code granting benefits to the wealthiest taxpayers who lend to municipalities for police brutality settlements. The first phenomenon is cities electing to issue bonds to satisfy these costly payouts. These bonds have been coined “police brutality bonds.” The second phenomenon is the tax...
Introduction The IPO parade of 2019 is making the early shareholders of technology startups such as Uber, Lyft, Slack, and Pinterest (among others) staggeringly wealthy. Now that these companies are publicly traded, equity owners can easily cash out at a huge profit. As shares of stock, this profit would normally be taxed at long-term capital […]
Tax fraud costs the federal government billions of dollars annually. Qui tam litigation, which features individuals bringing lawsuits on behalf of the government, is a powerful tool for the government in its fight against many types of fraud. The False Claims Act, the federal government’s most potent qui tam mechanism, however, expressly excludes tax fraud from its scope. Recognizing this gap in coverage, the Internal Revenue Service has...
Because of the importance of technological innovation to economic growth, nations strive to stimulate and attract the research and development (“R&D”) that leads to that innovation and to make themselves hospitable environments for the holding of intellectual property (“IP”). Tax policies have taken center stage in their efforts to accomplish these goals and to capture a share of the income from technological innovations.
Designing...
The economic substance and step transaction doctrines are two specific examples of courts’ general willingness to sometimes look past transactions’ technical form and impose taxes based on their underlying substance. As judicial creations, the two doctrines served as complements and functional equivalents. However, they also generated a wide variety of vague, overlapping, and conflicting formulations.
In 2010, Congress incorporated...