Federal Taxation

The newsletter of the ISBA’s Section on Federal Taxation

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2017 Articles

Key tax provisions in the Better Care Reconciliation Act of 2017 By Kristen Henry July 2017 The American Health Care Act of 2017 (AHCA), which repeals and replaces parts of the Patient Protection and Affordable Care Act (ACA), recently passed the U.S. House of Representatives on May 4, 2017. The Senate then put forth a discussion draft on June 22, 2017, titled the Better Care Reconciliation Act of 2017 (BCRA), followed by a revised discussion draft on July 13, 2017. The BCRA includes multiple tax provisions, repealing or expanding upon some of the ones originally enacted in the ACA.
Letter from the editor By James Creech July 2017 The final letter from Editor James Creech.
Letter from the editor By Paul Fagyal February 2017 An introduction to the issue from Editor Paul Fagyal.
Profit motive or hobby? By Patrick D. Owens February 2017 In Roberts v. Commissioner, the United States Court of Appeals for the Seventh Circuit reversed the Tax Court’s opinion and voided the taxpayer’s tax deficiencies in 2005 and 2006 in finding that the taxpayer’s horse racing activities amounted to a business rather than merely a hobby.
Substance-over-form or just good tax planning? By Richard M. Colombik July 2017 In Summa Holdings, Inc. v. Comm’r, the 6th Circuit Appellate Court has partially put a leash on the IRS Commissioner to argue that a transaction, if done solely for income tax purposes, may be set aside on substance-over-form arguments if the transaction clearly follows the Tax Code.
Summary of the recent tax reform proposals from the Trump administration By Kristen Henry May 2017 On April 26, 2017, the Trump Administration set forth updated tax reform proposals. This reform would modify both individual and business tax returns while also potentially having state tax implications as well.
Updating commuter benefits under 132(f) By James Creech July 2017 The shift from transportation to “mobility” has left the transportation fringe benefits of Internal Revenue Code Section 132(f) out of touch and in need of an update to better reflect current and future transportation options.