The United States has more automobiles per capita than any other country in the industrial world, and taxpayers use those automobiles for business and nonbusiness purposes. The former classification affords favorable individual income tax treatment, while the latter does not. However, to secure...

Congress last reformed the nation’s current tax penalty regime approximately three decades ago, long before the rise of big data and the advent of predictive analytics. With predictive analytics now gaining preeminence and its accuracy constantly improving, it is time for Congress to weave...

In yesteryear, at death, taxpayers confronted a Janus-faced tax system: on the one hand, they had to endure a harsh transfer tax regime that could significantly deplete the size of their estates; on the other hand, they could take solace in the fact that the income tax system erased their...

Technological advancements are playing a transformative role in curtailing the need for labor. These very same forces are catapulting capital in the form of robotics, machinery, and intellectual property to the economic forefront. In virtually every sphere of human existence, labor's decline and...

In a technological age, labor no longer plays the central role it once did in the nation's economy. Instead, automation has become more ubiquitous. This economic transformation has important and far-reaching consequences for the nation's tax system and, in particular, the means by which to fund...

The receipt of workplace fringe benefits has become increasingly ubiquitous. As a result of their employment, employees often receive a cornucopia of fringe benefits, including frequent-flier miles, hotel rewards points, rental car preferred status, office supply dollar coupons, cellular...

For decades, policy makers and politicians have railed against the “tax gap,” or the difference between what taxpayers are legally obligated to pay in taxes and what they actually pay in taxes. To close the gap, Congress has instituted numerous reforms, with varying degrees of success....

In this report, the authors propose a limited carryover tax basis regime that would be restricted to marketable securities owned at death. They argue that their proposal would promote equity and raise an estimated $10 billion in annual revenue without raising tax rates

In this article, Caron and Soled discuss how section 1014(b)(6) offers a bridge for taxpayers to maximize the tax basis they have in their assets. Whether Congress should retain this anachronistic provision is an open issue. The authors explain the historical background of section 1014(b)(6),...