bluuebunny/crossref_metadata_2025_split huggingface dataset:
Valuing Personal Consumption: Cost Versus Value and the Impact of Insurance
Authors: Halperin David 
Published: May 2022

"An ideal income tax would perhaps differentiate among individuals according to their talents for using funds in consumption; but ... income taxes must [be based upon] measurable quantities! ... [c]onsumption, as an element of income, must be measured ... by outlays for consumption purposes."Andy is excited. He has finally been able to get the money together for an expensive new car. After years of making do with a used car or cheaper models he is about to pick up a new $50,000 Mercedes sedan. But alas! Andy's dream of years of driving comfort are soon shattered. The car is a lemon. It is constantly in the shop for repairs wasting Andy's time and eventually costing him several thousand dollars. In the end, it never drives as well as expected.Would an ideal tax system, as Simons suggests, take some account of Andy's misfortune? Should we, if we could, somehow determine what the car is really worth and allow Andy a deduction for the difference between that amount and his outlay of $50,000? Alternatively, should we ideally allow a deduction for the extraordinary cost of repairs, the amount spent beyond what would normally be expected? Is our failure to take account of Andy's misfortune a concession to administerability rather than a matter of principle? This article explores the answer to that question as well as whether recoveries, from insurance or otherwise, should be taxable, if such losses are disallowed.There are a number of reasons why there might be a great deal of difference between the amount of enjoyment derived from a consumer purchase and the cost to the individual on the market. Consumer surplus, circumstance of use, variation in quality, events subsequent to purchase, and changes in market price may explain the discrepancy between actual enjoyment and cost.
Simplification and IRC § 415
Authors: Stein Norman P. 
Published: May 2022

There has been much talk of late about simplifying Subchapter D, the web of rules governing the affairs of tax-qualified pension plans. Among the targets that the simplification advocates have in their sights is section 415 of the Code. Section 415 places limits on contributions to defined contribution plans and on benefits payable from defined benefit plans. The basic idea justifying section 415 is that an employer should not be able to use the Code's qualified plan provisions to bestow tax deferral on deferred compensation in excess of the reasonable retirement needs of its employees.The simplification advocates have proposed repeal of section 415 or at least of its most supremely complex part, section 415(e), which sets combined limits for individuals who participate in both defined contribution and defined benefit plans. They argue that section 4980A, which was enacted in 1986 and which imposes a nondeductible excise tax on excessive distributions from pension plans, has rendered secion 415 limitations, or at least the section 415(e) limitation, superfluous.5 They also argue that subsection (e) is impervious to any sort of simplification efforts short of outright repeal.
The Devolution and Inevitable Extinction of the Continuity of Interest Doctrine
Authors: Miller David S. 
Published: May 2022

The continuity of interest doctrine, in its present form, is the extrastatutory requirement that the historic shareholders of a target company must retain a quantum of equity interest in the acquiror in order for an acquisition to qualify as a reorganization entitled to tax-free treatment. If sufficient stock of the acquiror is not retained by the target's shareholders for a long enough period, the transaction is not a tax-free reorganization, and the target corporation and target shareholders (including those that did retain the acquiror's stock) are subject to tax on their gains. On the other hand, because the doctrine is not an anti-abuse rule, if the continuity of interest requirement is not met, the target and its shareholders are entitled to recognize any loss on the transaction.This summary of the doctrine and its consequences is, of course, greatly simplified. Every aspect of the continuity of interest doctrine carries with it a formidable array of complex issues. For example, for how long must the target's shareholders have held their stock to be considered "historic" shareholders? What types of interests in the target qualify as equity for purposes of the test? What type and quantum of continuing interest in the acquiror is required, and for how long and in what form must it be retained? Some of these questions have recently attracted significant attention as a result of a Tax Court case, J.E. Seagram Corp. v. Commissioner, newly issued regulations under section 338, and an announcement that the Internal Revenue Service is considering a comprehensive reassessment of the doctrine.
Designing a U.S. Exemption System for Foreign Income When the Treasury is Empty
Authors: Fleming, Jr. J. Clifton , Peroni Robert J. , Shay Stephan E. 
Published: May 2022

The U.S. government faces a well-documented long-term revenue shortage that is unlikely to be cured by government expenditure reductions. Thus, it is curious that there is currently considerable pressure for the United States to adopt some type of territorial or exemption system under which most foreign-source active business income earned by U.S. resident corporations would become substantially free of U.S. income tax.Although we are not fans of territoriality, we recognize that a significant reform of the U.S. international tax system is necessary. In other articles, we have expressed our clear preference for strengthening the U.S. worldwide taxation system by repealing the deferral privilege and instituting a per-country foreign tax credit limitation. However, if such a reform is not politically feasible, we believe that a properly designed exemption or territorial system could be an improvement over the current U.S. international tax regime, which is badly flawed for multiple reasons. In any event, there is a significant likelihood that Congress will sooner or later be considering legislation to create a U.S territorial or exemption system. Accordingly, it is important for academics and policymakers to thoughtfully discuss the structure of such a system. We hope that this article will contribute to that conversation. Our fundamental point is that because of the U.S. fiscal situation, it is particularly important that a U.S. territorial system not forgo more revenue than is necessary to achieve the system’s appropriate ends.
Equity in the Distribution of Tax Preferences for Pensions: Capping the Amount Allowable in Tax-Preferenced Retirement Plans
Authors: Stein Norman P. , Turner John A. 
Published: May 2022

Tax-preferenced retirement plans are designed to be vehicles for saving for retirement, not massive tax shelters for wealthy individuals. Because tax preferences for retirement savings cause a loss in federal tax revenue, and are one of the largest sources of tax expenditures, it has long been a principle in pension policy and tax law in the United States and in other countries to limit the amount of retirement tax preferences an individual can receive. Specifically, U.S. tax law sets limits on the maximum benefit provided by a tax-preferenced defined benefit plan and the maximum contribution to either a tax-preferenced defined contribution plan or individual retirement account (“IRA”). It was never the intent of Congress, the tax policy, or pension policy communities that tax-preferenced plans should provide a tax preference for wealthy individuals to accumulate massive savings in retirement plans. Indeed, the conventional understanding of providing tax subsidies for the affluent to save for retirement is not to incentivize them to save, since the affluent will save adequately without such incentives, but to induce them to establish plans to capture tax benefits for themselves and then require them to include rank-and-file employees in the plans thus established. The purpose of the section 415 limits is to control the tax subsidies for the wealthy so that the tax incentives for them to establish plans do not impose excessive revenue loss to the government treasury.
Wrestling Control from the UNICAP Regulations: The Irrelevance of Quality Control in Determining Capitalizable Trademark Royalties
Authors: Walberg Glenn 
Published: May 2022

Taxpayers generally must capitalize direct and indirect costs attributable to their production of inventory. Due to uncertainty about whether this requirement applies to sales-based trademark royalties, the regulations now clarify that these royalties are indeed capitalizable as indirect production costs. However, the regulations also let taxpayers allocate these sales-based costs entirely to cost of goods sold. So, to the relief of taxpayers, the regulations have the practical effect of permitting immediate cost recovery—similar to a business expense deduction—for sales-based royalties.This Article questions the rationale for treating trademark royalties as capitalizable indirect costs. It argues that the regulations inappropriately rely on a licensor’s retention of control over product quality to link a licensed mark with inventory production and hence treat the associated royalties as production costs. The Article finds such reliance inappropriate because every valid trademark license involves a retention of control and the significance of control has diminished in modern trademark law and licensing practices. The Article further explains how this focus on control inadvertently makes all trademark royalties (including minimum and upfront royalties) capitalizable as indirect costs and therefore potentially allocable to ending inventory.Finally, the Article describes how the unique nature of trademarks complicates efforts to classify many royalties as capitalizable indirect costs. By stressing the actual use of a mark rather than licensing terms, the Article proposes that the regulations illustrate capitalizable indirect costs more narrowly by referencing royalties paid to license trademarked product designs. But the Article also contends that the regulations could appropriately treat trademark royalties as direct costs where, as happens with increasing frequency, a licensed mark becomes an integral part of the goods being produced.
Rethinking the Tax-Revenue Effect of REIT Taxation
Authors: Borden Bradley T. 
Published: May 2022

Real estate investment trusts (REITs) have recently made headlines in major media outlets and have caught the attention of lawmakers and analysts because they erode the corporate tax base. REITs are not subject to the entity-level tax that typically applies to corporations. To avoid being taxed on real estate income, some corporations spin off real estate into REITs. After a REIT spinoff, such corporations rent the real estate from the REIT and continue to use it in their operations. Thus, a mere change in corporate form removes taxable income from the corporation (i.e., erodes the corporate tax base) and eliminates the entity-level tax on income from the spun-off real estate. This erosion of the corporate tax base concerns lawmakers (who have proposed prohibiting tax-free REIT spinoffs), some economists, and the media. Another concern is that the IRS has extended REIT classification to entities that hold nontraditional real estate, such as telecommunications infrastructure, billboards, oil and gas pipeline systems, timber, casinos, prisons, and data centers. The extension of REIT taxation to nontraditional real estate may not erode the corporate tax base because the assets may come from noncorporate entities. Thus, the tax-revenue effect of REIT taxation extends beyond REIT spinoffs and the erosion of the corporate tax base. Nonetheless, intuition suggests that more REIT spinoffs, the expansion of REIT taxation, and the growth of the REIT industry must erode the corporate tax base and significantly reduce government tax revenue. This Article challenges that intuition and presents two counterintuitive findings. First, it shows that REIT spinoffs can actually increase tax revenue even though they erode the corporate tax base. Second, it reveals that loss of tax revenue from REIT taxation primarily results from REITs forming from partnerships, not from REIT spinoffs. The Article concludes by recommending how these findings should influence discussions of REIT reform.
The Tax Hedging Rules Revisited
Authors: Keinan Dr. Yoram 
Published: May 2022

As more and more taxpayers (businesses and individuals) are exposed to market risks (including but not limited to fluctuations in interest rates, foreign currency exchange rates and prices), management of such risks has become more and more important for a growing number of taxpayers. To mitigate the potential impact of such market risks, taxpayers enter into hedging transactions (mostly derivatives) to manage such risks. Typically, to manage the risk effectively, the hedging transactions would involve offsetting (i.e., long and short) positions with respect to the same or similar property, so that normally, when one position appreciates the other depreciates (and vice versa). In addition, hedging transactions frequently involve periodic payments (for example, periodic swap payments) either made or received by the taxpayer, depending on movement in market prices or interest rates. Furthermore, a termination payment (again, either made or received by the taxpayer) is typically made when the transaction matures or terminated earlier.From a tax perspective, taxpayers seek effective matching of character and timing of income and deductions from the hedging transaction (both periodic and termination payments) and the hedged item; otherwise, the economic benefit of the risk management strategy will be offset (and perhaps completely negated) by the tax inefficiency created as a result of the mismatch. As I argue in this article, our government should encourage taxpayers to exercise risk management and therefore, should accommodate tax efficiency by reducing the potential for character and timing mismatches. As of now, however, the U.S. federal income tax regime pertaining to hedging transactions limits the availability of the matching principle in certain ways, the result of which is that many transactions with a purpose of risk management remain outside the scope of the tax hedging rules. The current U.S. tax hedging rules suffer from several flaws and are not accommodating enough to many taxpayers. An immediate reform of the tax hedging rules is necessary.
A Hitchhiker's Guide to the OECD's International VAT/GST Guidelines
Authors: Hellerstein Walter 
Published: May 2022

The OECD’s International VAT/GST Guidelines, which were released in their consolidated form at the OECD’s Global Forum on VAT in Paris in late 2015, are the culmination of nearly two decades of efforts to provide internationally accepted standards for consumption taxation of crossborder trade, particularly trade in services and intangibles. For an American tax journal, however, even one that regularly publishes articles addressed to international taxation, an article on VAT may seem to be an odd choice of a topic. After all, American exceptionalism continues to inform national tax policy, leaving the United States as the only country in the OECD (and among the overwhelming majority of countries worldwide) without a VAT. Nor does the United States have any other general consumption tax as part of its national tax structure. Moreover, even if one takes the liberty of describing the American subnational retail sales tax (RST) as a consumption tax, there are significant structural differences between the American single-stage RST and the multiple-stage collection process that defines the VAT, thus limiting the relevance of many VAT issues to the American consumption tax regime. Finally, and perhaps most fundamentally, there is the perception in international tax circles that the problems associated with income taxes are intellectually more challenging and thus more worthy of attention than those associated with VATs––problems that are often viewed as involving little more than cash-flow management.
Clinical and Trichoscopic Graded Live Visual Scale for Androgenetic Alopecia
Authors: Rossi Alfredo , Ferranti Martina , Magri Francesca , Di Fraia Marco , Caro Gemma , Fortuna Maria Caterina , Muscianese Marta , Michelini Simone , Carlesimo Marta 
Published: May 2022

Introduction: Currently, the mostly used classifications of androgenetic alopecia (AGA), only provide a macroscopic and subjective description of this disorder, without evaluating trichoscopic features.
Objective: The aim of this study is to elaborate a graded live visual AGA severity scale including macroscopic and microscopic (trichoscopic) pictures, and to determine the most frequent trichoscopic characteristics associated to each grade.
Methods: A retrospective observational study was conducted on 122 patients (50 females and 72 males) affected by AGA. Macroscopic and trichoscopic photographs were taken at standardized scalp points.
Results: Each picture was ranked from AGA stage I to VII, according to Hamilton scale for men and Savin scale for women, and the most representative images of each severity degree were collected to produce a graded live visual scale. In males, two live visual scales, one for the anterior and one for posterior region of the scalp were created. In females, only one scale of the anterior region was realized. For each stage of severity, the corresponding trichoscopic parameters were statistically analyzed.
Conclusions: We realized new macroscopic and trichoscopic graded live visual scales for male and female patients affected by AGA, which could help physicians in giving an objective evaluation of the disease and in better managing it.
Retrospective Study on Health Impact of Dietary Protein, Vitamin and Electrolyte Supplementation: A Pilot Study
Authors: Fernando P. N. J. , Pigera S. , Rashani S. A. N. , Jayawickrema S. J. , Silva A. P. de 
Published: May 2022

Aims: Daily use of commercially available protein, multivitamin and electrolyte dietary supplements (MS) is a common practice among athletes. The aim of this study was to identify the effects of MS on athlete’s health.
Study Design: A retrospective cohort, pilot study.
Methodology: This Study was conducted with 45 healthy athletes who were using MS (n=25) and not using MS (n=20). In this study, MS users were consuming protein, multivitamin and electrolyte dietary supplements daily for more than 2 months continuously. Health effects of the study subjects were evaluated by biochemical tests and physical examination by a physician. Study was carried out at the Sri Lanka Anti-Doping Agency, Lanka Hospital Sri Lanka between June 2019 and February 2020.
Results: MS users had shown higher relative risk (RR) to have increased total cholesterol(RR=8.7;P<0.05)and LDL levels(RR=2.9;P<0.05) compared to non-MS users. The RR of overweight was 2.4 higher for MS users males than females. RR to increase weight had varied with type of sport and period on MS.
Conclusion: Negative effect was observed in the Lipid profile and weight of the MS users. Consuming MS more than 2 months, has an increasing effect on the lipid profile and weight of athletes and it is more pronounced in males. The clinical implication of this finding needs further study.
Effect of Arbuscular Mycorrhizal Fungi and Bio - Inoculants on Germination and Seedling Growth of Carica papaya L. Var. Gujarat Junagadh Papaya-1
Authors: Desai Devanshi H. , Tank Ramesh V. , Desai Ketan D. , Desai Het S. , Mehta Vivek S. , Champaneri Dushyant D. 
Published: May 2022

Background: Glomus intraradices fungi and three bio-inoculants (Pseudomonas fluorescens, Trichoderma viride, and Trichoderma harzianum) are known to have certain beneficial effects on germination and seedling growth of several tropical fruit crops. A pot study was conducted to evaluate the effects of arbuscular mycorrhizal (AM) fungi and bio inoculants on seed germination and seedling growth of a papaya cultivar Gujarat Junagadh Papaya-1 at regional horticultural research station (RHRS), ASPEE College of Horticulture and Forestry (ACHF), Navsari Agricultural University, Navsari, Gujarat, India.
Methods: The seeds of papaya were sown in the Monsoon season (June-Aug 2019) in polybags. The seeds of papaya were coated by AM fungi (G. intraradices), three bio inoculants, and their combinations. There were 9 treatments including control treatment.
Results: An application of T. harzianum was found to be the most effective on seed germination and seedling growth by enhancing germination percentage (89%) along with early emergence (6 days) and consolidating all the growth parameters. T. harzanium was also effective on underground plant parts such as tap root length and diameter. The combination of all four bio-inoculants also gave significant results. Results from this study could be helpful for the West Indian fruit growers by enhancing the opportunities to use bioagents for sustaining their farming systems.
The Dermoscopic Patterns in Common Pigmented Skin Lesions
Authors: Khan Sabira Baz , Ahmed Hafiz Bashir , Bano Shazia , Ellahi Erum , Mughal Hira , Shafqaut Hira 
Published: May 2022

Objective: To determine the dermoscopic patterns in common pigmented skin lesions.
Setting and duration Study: This study was conducted at Dermatology Department, Civil Hospital, Hyderabad, during October 18, 2020 to April 17, 2021.
Materials and Methods: After taking approval from hospital ethical committee and written informed consent from 150 patients, all patients with pigmented skin lesions were enrolled. Demographic information were also recorded. Detailed history and thorough dermatological, physical and systemic examination was conducted. Routine investigations and histopathology was taken wherever necessary to aid the clinical diagnosis. Dermoscopic and clinical photographs were taken after informed consent. All dermoscopic findings were studied using handheld pocket dermoscope. In the case of patient having multiple lesions, only a single active lesion was selected for dermoscopy.
Results: Age range in this study was from 15 to 60 years with median (IQR) age was17 (15 -60) years and mean duration of disease was 5.67+ 2.14 months. Among the common pigmented skin lesions, 86 (57.4%) had sharp demarcation, 29 (19.3%) had Dots and gobules, 7 (4.5%) had Pseudonetwork, 12 (8%) had Homogenous structure less pigmentation, 78 (52%) had Milia-like cysts and 21 (14%) had Cerebriform pattern.
Conclusion: This study shows the high frequency of dermoscopic patterns in common pigmented skin lesions. This concludes that derrmoscopy is a useful and essential technique to clinically manage pigmented skin lesions, and it plays a fundamental role in early identification of pigmented lesions.