Category Archives: Tax Law

Bloomberg Law’s Tax Practice Center

Bloomberg Law has added Taxation to its Practice Center interface. The Tax Practice Center provides ready access to

  • Primary statutory and regulatory tax materials, including the Internal Revenue Code, Treasury Regulations, and IRS administrative guidance
  • Tax case decisions and dockets, including the United States Tax Court
  • BNA Tax Management Portfolios
  • Practicing Law Institute treatises
  • Selected tax journals
  • M&A and related transactional forms and agreements

 

Students and faculty interested in requesting an account on Bloomberg Law may obtain one by following the instructions available in the Library’s catalog.

10 Years and 6.5 Million Exempt Organization Returns Available

A new “Big Data” resource of tax material has recently been made available. On October 30, Public.Resource.Org made available 10 years’ worth — nearly 6.5 million — Exempt Organization Form 990 returns filed by exempt organizations and private foundations as well as unrelated business income (UBIT) returns filed by these organizations. The data set contains returns from January 2002 through September 2012, and will be updated monthly.

 

At this time, these returns are only available in pdf format, but Public.Resource.Org plan to extract the underlying data from these returns to make them more amenable for data analysis.

 

These records and more information about the data set are available at https://bulk.resource.org/irs.gov/eo/readme.html.

The Anti-Injunction Act

Today's argument at the US Supreme Court on the Patient Protection and Affordable Care Act concerns whether the "penalty" assessed under 26 U.S.C. §5000A against individuals who do not meet the minimum coverage provisions is a "tax" for the purposes of the Anti-Injunction Act.

The Anti-Injunction Act (26 U.S.C. §7421) provides that "Except as provided in sections 6015(e), 6212(a) and (c), 6213(a), 6225(b), 6246(b), 6330(e)(1), 6331(i), 6672(c), 6694(c), 7426(a) and (b)(1), 7429(b), and 7436, no suit for the purpose of restraining the assessment or collection of any tax shall be maintained in any court by any person, whether or not such person is the person against whom such tax was assessed." In other words, an individual cannot bring a suit to enjoin the Government from collecting or assessing a tax, and must instead wait until that tax is assessed against him.

This first day of argument, accordingly, is to determine whether or not the Supreme Court even has jurisdiction to hear this case — inasmuch as the "penalty" arising under the PPACA does not even take effect until 2014, if the "penalty" is a "tax", the Anti-Injunction Act would apply. Only individuals who have actually been assessed the "penalty" could bring a suit, and only then after they have met the administrative procedures required for any tax litigation.

An example of a nominal "penalty" that is considered to be a "tax" for the purposes of the Anti-Injunction Act is the Trust Fund Recovery Penalty that arises under 26 U.S.C. §6672. See, e.g., Kelly v. Lethert, 362 F.2d 629 (8th Cir. 1966).

The merit and amicus briefs on the Anti-Injunction Act are available at http://www.americanbar.org/publications/preview_home/11-398_Anti-InjuntionAct.html.

For more information about the Anti-Injunction Act, and tax collection generally, please refer to William D. Elliott, Federal Tax Collections, Liens, and Levies, (2d ed. 1995), available in print in the Library (KF6313 .E45 1995) and on Westlaw (WGL-COLLECT).

Supreme Court Hearings on the Patient Protection and Affordable Care Act

Three days of Supreme Court arguments on the Patient Protection and Affordable Care Act begin on March 26, 2012.

Copies of the briefs are available from the Supreme Court's website at http://www.supremecourt.gov/docket/PPAACA.aspx.

Transcripts of the hearings will be available at the end of each day at http://www.supremecourt.gov/oral_arguments/argument_transcripts.aspx.

On Friday, March 30, audio recordings of the hearings should be available at http://www.supremecourt.gov/oral_arguments/argument_audio.aspx. It is possible, due to the public interest in these cases, that the audio recordings may be posted earlier. 

Tax Notes Today

The Library has added an electronic subscription to Tax Notes Today. Tax Notes Today has daily coverage of Federal tax law changes and policy shifts, special reports, analytical articles, and news concerning Congressional, Treasury, and IRS actions. 

Current faculty and students may subscribe to receive a daily email of Tax Notes Today. Archives of Tax Notes Today are also available — coverage goes back to 1987.

Tax Notes Today is accessible from the Tax Analysts database.

To set up an email subscription to Tax Notes Today, select "Edit my email profile", then click on "E-Mail Profile" on the following screen. Once you enter your email address, you will have the option of subscribing (or unsubscribing) to Tax Notes Today.

You can also set up daily or weekly email alerts to Tax Notes Today that will notify you of articles discussing particular Code sections or subject areas.