UHLC Nota Bene

Carolina Academic Press has recently published Understanding Estate and Gift Taxation , 2d. ( KF6572.H455 2019 ) as a part of its Understanding Series. Authored by Brant J. Hellwig & Robert T. Danforth, this twenty-six chapter book is ideal for both the practitioner interested in an overview of this specialized area of tax law or the student taking a taxation of estate and gift tax or estate planning class. Each chapter highlights specific language from the Internal Revenue Code and provide analysis tying in the regulations, cases, and administrative decisions. This book begins with an overview of the federal tax regime and covers basic application of the estate tax, transfer tax valuation, determination of net transfer, transfers excluded from the gift tax base, transfers with retained enjoyment, and joint interests in property. International considerations, generation-skipping transfer tax base, marital unit, life insurance, business entity estate freeze, and annuities and surviv...

Practising Law Institute has published the 2018 Internal Revenue Service Practice and Procedure Deskbook, 5th edition ( KF6301.S5222 ), by Erin M. Collins and Edward M. Robbins, Jr. , a three-volume softbound set designed to assist the tax practitioner but can also be help to the tax scholar or student. This source has eighteen chapters with detailed information, annotations to primary sources of law, practice pointers, and examples. Coverage includes the organization of the IRS, Circular 230, the rules of practice before the IRS, examinations, administrative appeals, civil penalties, collection process, tax court litigation, tax fraud, taxpayer access to information, and tax returns, among other topics. There is a table of authorities and subject index at the end of the third volume. This set is now available in the law library's print collection under call number KF6301.S5222 .

Wolters Kluwer has recently published an update to the 2018 U.S. Master Tax Guide ( KF6370.C65 2018a ) to reflect the changes made to the tax code by the 2017 Tax Cuts and Jobs Act enacted last December. The U.S. Master Tax Guide is a single volume tax handbook that contains quick but detailed information on virtually every tax topic with references to the Internal Revenue Code, Treasury Regulations, and other sources of primary authority. It also contains references to Wolters Kluwer publications such as the Standard Federal Tax Reporter ( KF6366.C65 ) practice guide, which is ideal for those interested in further research. This source also contains a list of important dates for the year, tax tables, checklists, and an index.

The O'Quinn Law Library has acquired sources that contain the full text of and analysis of the Tax Cuts and Jobs Act that was signed into law last December.  Keep in mind that Thomson Reuters Checkpoint and Tax Analysts will also have analysis on this act. Complete Analysis of the Tax Cuts and Jobs Act, Thomson Reuter s ( KF6276.62017.C66 2017 ) A Personal Guide to the Tax Cuts and Jobs Act: What is Means for You by Susan Flax Posner, Wolters Kluwer ( KF6276.6 2017.T57 2018 ) Tax Cuts and Jobs Act: Law, Explanation & Analysis, Wolters Kluwer ( KF6276.6 2017.T55 2018 ) Tax Cuts and Jobs Act: Text of H.R. 1, Joint Explanatory Statement of the Committee of Conference, as Released on December 15, 2017 ( KF6276. 2017.T56 2017 )  There are also a number of free resources where the full text of the law itself as well information Legislative documents available from Congress.gov (this will include access to the full text of the act, committee reports, history, links...

Cambridge University Press has recently published the third edition of Federal Taxation in America: A History by W. Elliot Brownlee. The author thoroughly reviews the history of U.S. tax regimes covering the tax programs during the revolutionary crisis, the Civil War, World War I, and President Franklin D. Roosevelt's presidency. The Tax Reform Act of 1986, the 1990's Contract with America, the 2001 tax cuts, and tax policy during the Great Recession are also discussed. This book is now on the law library's new titles shelf ( KF6289.B76 2016 ).

Carolina Academic Press has just published, Understanding Federal Income Taxation, 5th ed . by J. Martin Burke and Michael Friel, which is now on the law library's new titles shelf ( KF6369.3.B87 2016 ). This is an excellent source for those wishing to obtain a background in federal income tax law and ideal for those taking a federal income tax class. This forty-four chapter book includes excerpts of relevant Internal Revenue Code (I.R.C.) sections as well as examples and analyses that illustrate tax concepts. Computation of tax liability, gross income concepts and limitations, capital gains and losses, bad debts, fringe benefits, like-kind exchanges, gifts, discharge of indebtedness, depreciation, travel and education expenses, deductions, limitations on tax shelters, and the alternative minimum tax are among the topics covered. There are tables of statutes, cases, and agencies as well as a subject index.

This weekend (August 5-7) is a sales tax holiday for purchases of school supplies in Texas. Did you know that there are also sales tax holidays for emergency preparation supplies, water-efficient products, and energy-efficient products, including air conditioners, refrigerators, and dishwashers? You can find the dates of these holidays, as well as information on eligible products, on the website of the Texas Comptroller of Public Accounts. For sales tax holidays in other states, see this handy list compiled by the Federation of Tax Administrators. 

Wolters Kluwer has recently published, Practical Guide to U.S. Taxation of International Transactions , 10th ed. ( KF6445.M45 2015 ), by Robert J. Misey, Jr. and Michael S. Schadewald . This book begins with a discussion of the basic principles such as tax jurisdiction and source of income rules. The authors review the taxation of foreign income by U.S. citizens and the taxation of foreign persons conducting business in the United States. Other issues such as international tax practice and procedure, and tax treaties are also covered. This book, which is now available on the law library's new titles shelf, contains several relevant IRS forms and a subject index.

The Transactional Records Access Clearinghouse (TRAC) recently released a report on criminal enforcement by the Internal Revenue Service. It turns out that the IRS has been referring fewer cases for criminal prosecution in recent years, largely due to Congressional budget cuts that have led to a 16 percent decline in the number of criminal investigators at the agency since 2010. Referrals sent to federal prosecutors declined from 13.3 per million population in Fiscal Year 2013 to 9.2 per million in Fiscal Year 2015, which is the lowest level seen during the Obama administration. You can use TRAC’s IRS criminal enforcement tool to examine the data in a number of different ways, including a breakdown by federal district. As readers of Nota Bene may already know, TRAC is a research organization at Syracuse University that uses Freedom of Information Act requests to gather data and prepare reports on various government activities. You can learn more by visiting TRAC’s About Us pa...

The IRS issued a statement last Friday, announcing that 390,000 additional accounts of taxpayers, who used the the IRS's "Get Transcript" application from January 2014 through May 2015, were compromised. According to the statement , problems were originally discovered with the application last May, resulting in a nine month long investigation by the service's Treasury Inspector for Tax Administration . The application has been suspended pending the outcome of the investigation. The IRS states in the announcement that the agency will start contacting the impacted taxpayers by letter beginning this past Monday. Click here for more information regarding help for taxpayers as well as the status of the "Get Transcript" application.

Whether you are currently enrolled in a Tax Accounting course or have an interest in this area of tax law, the law library has a number of print and electronic sources available. These sources include treatises and practice guides, among others: Tax Accounting by Durwood L. Alkire ( KF6314.A94 ) (available on Lexis Advance ) This is a two volume loose-leaf practice guide that is updated periodically. The print edition contains a subject index. Federal Tax Accounting , by Stephen F. Gertzman (WG&L) (available on Westlaw Next and Thomson Reuters Checkpoint) This is a part of the Warren, Gorham & Lamont series, a well respected collection of tax treatises. Bloomberg BNA Accounting Policy and Practice Portfolios (available through the Bloomberg BNA Tax and Accounting Center database and BloombergLaw.com ). These consist over sixty portfolios dealing with accounting for income taxes, accounting rules and disclosures, special industries and entities, management...

The ABA has recently published, Federal Tax Procedures for Attorneys, 2d by W. Patrick Cantrell . This book, designed for the tax attorney and the tax scholar, provides a real-world approach to tax practice issues. The information is thorough yet well organized and there are numerous practice tips located throughout the book. There are nine chapters covering topics relevant to the tax practitioner such as IRS examinations and administrative appeals within the agency. The chapter on tax litigation  covers deficiency process, tax claims and refunds, and the U.S. Tax Court. Collection enforcement matters such as levies and liens as well as collection remedies and defenses are also covered. Other topics include penalties and interest, statute of limitations on tax cases, ethical considerations, and tax fraud. There is a subject index and the appendices include a list of abbreviations and acronyms used in tax practice, IRS form letters, IRS publications of procedural topics, and IRS f...