Association for Tax Law

In a recent proposal, former President Trump outlined a "new American industrialism," which includes a reduced 15% tax rate for U.S.-based manufacturers, expanded R&D tax credits, and full expensing for new equipment investments. These measures are similar to tax policies like the section 199 domestic production deduction, which was repealed in 2017. While aimed at reviving domestic manufacturing, critics argue that targeted tax breaks could distort capital allocation and increase compliance costs. Could broader tax cuts be a better alternative for economic growth and simpler administration? https://lnkd.in/eV2AKuUz

In the micro-captive insurance space, another opinion was released yesterday where the taxpayer loses. Royalty Management Insurance v. Commissioner. It would be easy to believe that this adds to the IRS' position that there are no hazards of litigation in micro-captive cases. However, this is a case where all you have to do is read the facts of the case to understand why the taxpayer lost and why the micro-captives you represent are distinguishable. There are egregiously bad facts in this case, and hopefully the micro-captives you represent will have better justifications for their insurance arrangement. A big takeaway is not to domicile your captive insurance company in a Native American jurisdiction with no insurance regulatory authority.

The American Bar Association is accepting applications until September 27 for a mentorship program called *Transfer Pricing: From Classroom to Boardroom* (TP C2B), a unique opportunity for students to gain real-world experience. They’ll be paired with corporate transfer pricing leaders for an insider's view of how multinational corporations develop and administer transfer pricing policies.

Pre-BEPS efforts to establish a multilateral #tax convention failed due to conflicting national interests, which contrasts with the success of multilateralism in investment and trade law. Reuven Avi-Yonah and Dr. Eran Lempert conclude that tax law remains unsuitable for multilateralism.

Registration is open for the 2024 Florida Tax Institute taking place in Tampa February 14-16. The Institute features programming devoted to individual income #tax, entity tax, and estate planning. It is designed to be practical, informative, engaging, and state of the art. This program is developed by practicing tax professionals for other tax professionals and strives to deliver presentations on the most current issues and planning ideas.

Elodie Lamer discusses the European Commission's BEFIT initiative, a plan to harmonize and streamline corporate #taxation across the European Union.

Luca Encarnación writes that developing countries are losing out on #tax revenue due to the OECD Tax framework and discusses development of a United Nations model tax treaty that would benefit developing countries.

Nina Olson served as the National Taxpayer Advocate, a congressionally mandated position tasked with overseeing the IRS and advocating for taxpayers' rights. The National Taxpayer Advocate supervises over 2,000 employees and has been instrumental in addressing taxpayer issues for the past two decades.

The Inflation Reduction Act imposed a 1% excise #tax on stock buybacks by publicly traded corporations, effective December 31, 2022. Christian Miller discusses how the tax may be expected to apply to taxpayers in light of the statutory language and available guidance.

Like Meta and Amazon, Microsoft has been accused by the Internal Revenue Service of improper transfer pricing to shift profits to lower-tax jurisdictions. Microsoft denies the allegations and says it will appeal the claims. Because intangible assets are difficult to value, tech companies have a good track record of winning transfer pricing cases against the IRS, and the agency could struggle to prove that Microsoft knowingly shifted profits offshore.