Supreme Court’s Review of Valuation Misstatement Penalty Leaves the Door Open for Appellants

By David J. Shakow On March 25, the Supreme Court accepted certiorari in U.S. v. Gary Woods.  (Supreme Court order) The issue presented to the Court arose from a split in the Circuits over whether a taxpayer can avoid the valuation misstatement penalties of section 6662(e) and (h) by conceding that there was no economic substance … More Supreme Court’s Review of Valuation Misstatement Penalty Leaves the Door Open for Appellants

Innocent Spouse Relief After Mayo: Congress Strikes Back?

By David Shakow Following the Supreme Court’s decision in Mayo Foundation v. United States, in which the Court ruled that tax regulations receive deference from courts under the Chevron doctrine that applies to non-tax regulations, many commentators acknowledged the decision’s anticipated impact on disputes about the validity of tax regulations.  The new standard gives the … More Innocent Spouse Relief After Mayo: Congress Strikes Back?

Pass The Mayo Foundation: The Supreme Court Says Goodbye To National Muffler

By David Shakow The Supreme Court’s decision this week in Mayo Foundation for Medical Education and Research v. United States clarifies the approach courts should take in determining the validity of IRS regulations.  The decision is a victory for the IRS, but it leaves many issues unresolved.  One thing is very clear, however: the IRS … More Pass The Mayo Foundation: The Supreme Court Says Goodbye To National Muffler

Do High State Taxes Discourage Economic Growth?

By David Shakow As previewed by my earlier post, State Tax Notes today published an article in which I argued generally that claims that high state taxes discourage economic development may be flawed because they look at statistics selectively and fall prey to the fallacy that correlation implies causation.  In particular, I considered an article by … More Do High State Taxes Discourage Economic Growth?

Do High State Taxes Discourage Economic Growth–Background Data

By David Shakow In an article to be published in State Tax Notes‘ December 6 issue, I argue generally that claims that high state taxes discourage economic development may be flawed because they look at statistics selectively and fall prey to the fallacy that correlation implies causation.  In particular, I consider an article by Arthur … More Do High State Taxes Discourage Economic Growth–Background Data