Please join us for the 5th Annual NYU Tax Movie Night! This year’s event is titled “Tax and City.” We will screen four classic television episodes, where characters encounter tax issues while living in New York City during the “Mad Men” era. The episodes featured are from “The Dick Van Dyke Show” (1965), “Occasional Wife” (1966), “That Girl” (1969) and “The Odd Couple” (1973). Professor Lawrence Zelenak from Duke Law School will join us as a special guest speaker and will lead a discussion following the screening. Refreshments, including popcorn, will be served.
The NYU Journal of Law & Business and the NYU Graduate Tax Program cordially invite you to participate in a half-day symposium titled “Tax and Corporate Social Responsibility” on Tuesday, March 25, 2014 from 9:00 a.m. to 12:30 p.m. in Lipton Hall, D’Agostino Hall, NYU School of Law, located at 108 West Third Street.
From the enactment of the corporate excise tax in 1909 to the present, the corporate tax in the United States has generated intense debate. Topics at the center of this debate have ranged from the fundamental purpose of the tax to moral obligations of corporations to pay tax to tax transparency and accountability. This half-day symposium will continue the discussion by addressing two questions: Should corporations pay tax? And should corporate tax returns be public? Each panel will feature leading tax and corporate law scholars and distinguished practitioners. Participation from the audience in the discussion will be encouraged.
This program is free of charge and will offer attendees 3 credits of CLE in the Area of Professional Practice.
On WEDNESDAY, MARCH 12th from 12:30 to 1:30 PM in VANDERBILT HALL 202, the Graduate Tax Program will host a meeting for all J.D. students interested in learning about the J.D./LL.M in Taxation program and related scholarship opportunities.
At the meeting, we will discuss the following:
J.D./LL.M. IN TAXATION: Current NYU J.D. students can receive up to 12 credits of LL.M. advanced standing for certain tax courses taken at NYU School of Law and may qualify to obtain a Tax LL.M. with only one additional full-time semester of post-J.D. study. NOTE: For 3Ls who may be interested in this program, THE DEADLINE TO APPLY IS TUESDAY, APRIL 1, 2014.
TAX POLICY FELLOWSHIP: A small number of 3L J.D./LL.M. in Taxation candidates will be selected to spend up to six months as interns at the U.S. Department of the Treasury or the Staff of the Joint Committee on Taxation during Summer 2014 and Fall 2014. A stipend is available, absent outside funding. The fellows will complete the LL.M. in Taxation during the Spring 2015 semester and may receive a scholarship for their semester as LL.M. students.
TAX LAW REVIEW SCHOLARSHIP: The Tax Law Review (TLR), the premier law school journal for tax policy scholarship, often awards a one-half tuition, merit-based scholarship to a J.D./LL.M. student. The winners of the TLR Scholarships serve as student editors, who do cite checking, proofreading, etc. This involves a commitment of approximately 15 hours a week. Students who are eligible to apply are current 2Ls interested in the J.D./LL.M. in Taxation program. A student must have completed Income Taxation and priority will be given to a student who has taken an additional tax course(s).
We will explain all of these opportunities in more detail and answer your questions at the meeting on Wednesday, March 12th at 12:30 PM in Vanderbilt Hall Room 202. If you are unable to attend, please feel free to direct any questions to John Stephens, Director of the Graduate Tax Program, or Professor Joshua Blank, Faculty Director of the Graduate Tax Program.
On Tuesday, February 11th, from 12:30 PM to 1:30 PM in Snow Dining Room, William McRae (LL.M. ’02) will be the first guest speaker of Spring 2014 for the Graduate Tax Program Lunch Series.
William McRae is a Partner in the Tax Group at Cleary in New York. His practice focuses on U.S. federal income tax matters, including the taxation of financial products, corporate transactions and international mergers and acquisitions. Mr. McRae is a member of the Bar of New York, and the New York State Bar Association, where he serves on the Tax Section Executive Committee. He regularly speaks on tax matters at conferences, and has published several articles on tax matters, including “Financial Modeling from the Bench: Bank One and the Internal Revenue Service’s Attempt to Fix the Consequences,” Journal of Taxation and Regulation of Financial Institutions, Nov/Dec 2003, Vol. 17, No 2; “Character and Timing Rules in the Proposed Contingent Swap Regulations: First, Do No Harm,” Journal of Taxation and Regulation of Financial Institutions, March/April 2005, Vol. 18, No 4; “Contingent Interest Convertible Bonds and The Economic Accrual Regime”, “Everything I Know About New Financial Products I Learned from DECS” (published by the Practising Law Institute).
If you are a current NYU student and are interested in participating, please e-mail Hannah Olson.
On Tuesday, October 22nd from 2:00 PM to 4:00 PM in Vanderbilt Hall Room 206, please join us for a discussion with Zach Carter (Huffington Post), Jia Lynn Yang (Washington Post) and Reihan Salam (National Review), three reporters who cover tax stories. The panel will discuss what makes a great “tax story”, the sources of information for tax stories, why certain tax issues are often misreported in the press and, of course, tax issues in the ongoing budget debate. Professor Erin Scharff will moderate the discussion. To RSVP please click here.
Congratulations to Orly Mazur LL.M. ’13, the winner of the 2013 David F. Bradford Memorial Prize for Best Paper in Taxation. The Bradford Prize is dedicated to the memory of David F. Bradford, who taught at Princeton University and NYU School of Law.
Orly’s paper is titled “Taxing the Cloud”. A brief abstract of the paper follows:
After decades of expanding worldwide, companies have now reached the clouds. The cloud represents a new method of using information technology resources that may forever change how we use our computers and the Internet. Instead of purchasing or downloading software, we can now use the Internet to access software and other fundamental computing resources located on remote computer networks operated by third parties. These transactions offer companies lower operating costs, increased scalability and improved reliability, but also give rise to a host of international tax issues. Despite the rapid growth and prevalent use of cloud computing, U.S. taxation of international cloud computing transactions has yet to receive significant scholarly attention. This Article seeks to fill that void by analyzing the U.S. tax implications of operating in the cloud. Such an analysis shows that the technological advances associated with the cloud put pressure on traditional U.S. federal income tax principles, which creates uncertainty, compliance burdens and liability risks for companies and a potential loss of revenue for the government. In light of these problems, federal attention is warranted to clarify how U.S. federal income tax principles apply to businesses operating in the cloud. Thus, this Article proposes that Congress and Treasury issue guidance that clearly addresses the U.S. tax implications of international cloud computing services. Specifically, Congress should issue new statutory guidance to clarify the characterization, source, and taxation of global cloud computing transactions and collaborate with other countries to achieve international consensus on these issues. Together these changes will ensure that the United States appropriately taxes the cloud and does so in a manner that minimizes double taxation and promotes efficiency, equity and administrative simplicity.
Please join us next Monday, April 22 from 12:30-1:30 PM in Furman Hall Room 324 for the next installment in our Pathways to Tax Reform Series. Next week’s session is titled “The Future of Pass-Through Entity Taxation: A Discussion of the Ways & Means Committee Proposals.” In March 2013, the House Ways and Means Committee released a discussion draft of proposals that would make fundamental changes to the way that partnerships and S-corporations are taxed. If enacted, these provisions would take effect in 2014. These proposals may play an important role as the discussion of business tax reform progresses in DC. In this one-hour session, Professors Willard Taylor (NYU, Sullivan & Cromwell LLP) and John Steines (NYU)will provide an overview of the proposals and will moderate a group discussion. In addition, Mark Warren and Harold Hancock (House Ways & Means Committee) will provide commentary by phone. To help you prepare for the event, we have attached an outline, which describes the proposed legislation.
Thurs., April 4th, 7:00-9:00 PM, Faculty Library, 3rd Floor of Vanderbilt Hall
The New York Region of the Federal Bar Association Section on Taxation invites you to attend a discussion on recent developments in tax controversy. The presentation will include a discussion on recent court opinions on economic substance, debt-versus-equity, expert witness testimony, and discovery. The discussion will be followed by light refreshments. The primary speakers at the event will be Brian Power, Mayer Brown LLP and Elizabeth McGee, Shearman & Sterling LLP. Please RSVP to Erin Rodgers at firstname.lastname@example.org .
Thurs., April 4th, 12:30-1:30 PM, Furman Hall Room 330
What happens when a law professor becomes an expert witness? What sorts of challenges and issues does he or she face, what’s it like, and how does it relate to teaching and research activities? Professor Daniel Shaviro, Wayne Perry Professor of Taxation (NYU), will address these questions and more, based generally on his recent experiences. This program should be of interest to lawyers and future lawyers (especially tax lawyers) who may seek the services of expert witnesses, as well as to law professors who may consider becoming expert witnesses themselves. Light refreshments will be served, but please feel free to bring your lunch. To RSVP, please e-mail Greg Zwahlen at email@example.com .
Please join us on Wednesday, April 3 from 12:30-1:30 PM in Vanderbilt Hall Room 216 for the next installment of our “Pathways to Tax Reform Series” for a discussion with Dr. Alan D. Viard, resident scholar at the American Enterprise Institute. Dr. Viard will outline a proposal to “completely replace the income tax system with a progressive consumption tax.” He will argue that his approach “avoids the problems arising from the adoption of a consumption tax alongside the income tax and also avoids the distributional problems posed by regressive consumption taxes, such as the VAT.” Before joining the American Enterprise Institute, Dr. Viard was a senior economist at the Federal Reserve Bank of Dallas and an assistant professor of economics at Ohio State University. He has also worked for the U.S. Treasury Department’s Office of Tax Analysis, the White House’s Council of Economic Advisers, and the Joint Tax Committee. In January 2010, Dr. Viard was named by Tax Notes as a nominee for 2009 Tax Person of the Year. To RSVP, please e-mail Greg Zwahlen at firstname.lastname@example.org .
This Thursday, March 28, from 6:30 PM-8:30 PM, please join us for the 4th Annual NYU Tax Movie Night! This year’s event is titled “To Pay or Not To Pay: Tax Dilemmas in Sitcoms.” We will screen four classic television episodes, spanning different decades, where major characters are faced with tax compliance choices. Some characters choose to report their tax liabilities honestly and others do not. The episodes featured are from “The Honeymooners” (1956), “The Phil Silvers Show” (1956), “The Mary Tyler Moore Show” (1975) and “The Simpsons” (1998). Professor Lawrence Zelenak from Duke Law School will join us as a special guest speaker and will lead a discussion on what popular culture can teach us about public attitudes toward tax compliance. Refreshments, including popcorn, will be served.
We should have plenty of space, but we would like to get a sense of how much food to order. To RSVP, please click here .
On Wednesday, March 6th from 12:30 PM to 1:50 PM in Vanderbilt Hall Room 202, the Graduate Tax Program will continue its Pathways to Tax Reform Series, which began last week at the Law School’s Forum.
Victor Thuronyi, Senior Counsel at the International Monetary Fund, will present a proposal for a “Supplemental Expenditure Tax,” which would facilitate an overall tax reform package. A copy of the paper is attached. The Supplemental Expenditure Tax would be very similar to the current income tax, except that includable receipts would be defined more broadly, the tax would not apply until income is consumed and investment would generally be deductible. In addition to describing the proposal, the program will compare the Supplemental Expenditure Tax to several consumption tax alternatives. Professor Daniel Shaviro, the Wayne Perry Professor of Taxation at NYU School of Law, and David Miller, Partner at Cadwalader, Wickersham & Taft LLP, will provide commentary.
Please feel free to bring your lunch to this event. To RSVP, please email Kevin Agnese at email@example.com . We hope you will join us for what should be an interesting and informative discussion.
After weeks of negotiations, in the first days of January, Congress and the Obama Administration struck a last-minute deal that averted the so-called “fiscal cliff”, a combination of federal tax increases and budget cuts. Yet this compromise merely deferred until March 1st “sequestration”, which will cause the military and dozens of other government agencies to face about $1 trillion in automatic budget cuts over the coming decade. And, the debt limit again looms later in the year. Did Congress make progress toward reducing our fiscal shortfalls by enacting tax increases earlier this year? What is likely to happen in the upcoming sequestration negotiations and how will it affect the economy? Is tax reform the way forward, or is it a distraction? And why do budget and tax debates appear to occur only when the clock is ticking on looming high-stakes deadlines? Join a panel of experts for a timely discussion of these questions and more as we consider approaches to addressing America’s fiscal future.
Mitchell Kane, Professor of Law, has co-authored an amicus brief in PPL Corp. v. Commissioner, Docket No. 12-43. Erin Scharff, Acting Assistant Professor of Tax Law, was the counsel of record on the brief. The U.S. Supreme Court will hear oral arguments in the case on February 20th. The issue presented is “Whether, in determining the creditability of a foreign tax, courts should employ a formalistic approach that looks solely at the form of the foreign tax statute and ignores how the tax actually operates, or should employ a substance-based approach that considers factors such as the practical operation and intended effect of the foreign tax.” A copy of the brief is available here.
Many decry the fact that policymakers are nowhere close to addressing the longterm fiscal shortfall and as evidence they point to the Congressional Budget Office’s projection of enormous long-term deficits under current policy. This report contends that the minimum deficit reduction incorporated in leading progressive and conservative budgets can put us on a path toward closing the long-term deficit. A significant gap would remain even if consensus were fully realized. However, this report describes a plausible path for further cutting the long-term deficit, as well as important revenue and spending backstops. Finally, it explains that while the country can and should try to reach a fiscally sustainable path, because of the uncertainty surrounding many of those reforms — especially the restructuring of the healthcare system — we cannot expect an immediate solution.
A complete list of the Tax Policy Colloquium presentations for the rest of the Spring 2013 semester is available here.
The NYU Graduate Tax Program and UCLA School of Law cordially invite you to the second annual NYU/UCLA Tax Policy Symposium, titled “The Internal Revenue Code at 100,” on Friday, October 19, 2012 from 9:00 a.m. to 5:00 p.m. in Greenberg Lounge, Vanderbilt Hall, NYU School of Law, located at 40 Washington Square South.
This program is free of charge and will offer attendees 6 credits of CLE in the Area of Professional Practice.
The symposium will celebrate the 100th anniversary of the income tax in the United States. Participants will consider the evolution of the American income tax over the past century and will consider prospects for tax reform as the income tax begins its second century. The conference will feature panels on business taxation, international taxation, inequality and taxation and politics. A list of the panels and participants is below.
The NYU/UCLA Tax Policy Symposium hosted by NYU School of Law and UCLA School of Law is a joint annual conference focusing on tax policy issues from both a legal and economic perspective. It provides a forum in which leading scholars, policy-makers, and practitioners can analyze complex tax policy questions and options for reform and brings together members of both NYU Law’s tax law faculty and UCLA Law’s business law and policy program. It builds on tax policy symposia that have historically been hosted by the Tax Law Review, the premier law school journal for tax policy scholarship published at NYU School of Law, and the UCLA Colloquium on Tax Policy and Public Finance, started in 2004. Financial support for this conference is provided by NYU School of Law and the Lowell Milken Institute of Business Law and Policy, UCLA School of Law.
On Wednesday, October 17th from 4:00 PM to 5:50 PM in Vanderbilt Hall Room 214, please join us for a discussion with Zach Carter (Huffington Post) and Jia Lynn Yang (Washington Post), two reporters who cover tax stories. The panel will discuss what makes a great “tax story”, the sources of information for tax stories, why certain tax issues are often misreported in the press and, of course, tax issues in the upcoming Presidential election. Professor Erin Scharff will moderate the discussion.
On Monday, October 15th, from 12:30 PM to 1:30 PM in Vanderbilt Hall Room 210, Elena Romanova (JD ’02, LL.M. ’03), Director and Head of Consumer Banking Tax Advisory, at Citigroup, Inc. will lead a session on the in-house tax function at large companies. The objectives of this program are to (a) inform students who plan to work for corporate law firms and accounting firms about the duties and needs of the in-house tax director, “the client” and (b) describe the skills that students need to develop over time if they plan to transition to an in-house position in the future. This event is open to all students.
Elena V. Romanova is a Director and the Head of Consumer Banking Tax Advisory at Citigroup Inc. in New York. She was an associate at Cleary Gottlieb Steen & Hamilton LLP from 2003 to 2010 and served as a Tax Policy Fellow at the U.S. Treasury Department, Office of Tax Policy in the fall of 2002. In her work, she focuses on U.S. federal income tax aspects of financial products and corporate transactions and on cross-border tax planning.
Ms. Romanova received a J.D. degree, magna cum laude, from New York University School of Law in 2002 where she served as a student editor of the Tax Law Review, an undergraduate degree, summa cum laude, from the University of Houston in 1996, and a degree of Master of Professional Accountancy in Taxation from Indiana University in Bloomington in 1999. She also received an L.L.M. in Taxation from New York University School of Law in 2003.
During the week of August 27th, we will welcome all incoming Tax LL.M. students at the following tax orientation events:
Tax Specialization Meeting (Monday, August 27th, 3:30 PM to 5:00 PM, Greenberg Lounge, 1st Floor of Vanderbilt Hall). This session will address degree requirements, course selection and the tax job market, among other topics. This session is mandatory for all full-time Tax LL.M. students.
Tax Welcome Reception (Monday, August 27th, 5:00 PM to 6:00 PM, Greenberg Lounge, 1st Floor of Vanderbilt Hall). Shortly after the tax specialization meeting, we will welcome you with a wine and cheese reception. This will also be a great opportunity for you to meet your classmates. This event is open to all Tax LL.M. students.
Tax Alumni Advising Breakfast (Tuesday, August 28th, 9:00 AM to 10:30 AM, Lipton Hall and the Faculty Club, D’Agostino Hall, 110 West 3rd Street). Recent alumni of the Graduate Tax Program will join us for a light breakfast to answer your questions and offer advice. The atmosphere will be casual, so feel free to stay for all or part of the event. This event is open to all Tax LL.M. students.
Tax Faculty Lunch (Tuesday, August 28th, 12:00 PM to 1:30 PM, Lipton Hall and the Faculty Club, D’Agostino Hall, 110 West 3rd Street). At this lunch, you will have a chance to meet with the tax faculty. This event is open to full-time Tax LL.M. students only. During the academic year, you will be assigned to a faculty advisor. Many of our faculty advisors will be at the lunch. Foreign-educated students who are attending the preceding bar exam session may arrive late, as that session runs until 12:30 pm.
Tax Research Workshop (Friday, August 31st, 2:00 PM to 3:00 PM, Vanderbilt Hall Room 210). At this workshop, Professor Joshua Blank will provide an overview of helpful tax research tools that you can use as students at NYU and during your careers as practicing tax lawyers. He will also provide general advice regarding class and exam preparation. This event is open to all Tax LL.M. students. Full-time Tax LL.M. students are strongly encouraged to attend.
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