The Tax Law Center at NYU Law seeks to protect and strengthen the tax system through rigorous, high-impact legal work in the public interest.
The legal choices that shape the tax system can be complex and opaque for people who are not tax experts, but they can have profound impacts, including on how much revenue the tax system raises and who pays tax. Private interests often invest heavily in shaping these choices. The Tax Law Center aims to be a strong public interest voice weighing in on these technical yet consequential tax law issues. To do so, the Center provides technical input on tax legislation, comments on tax regulations, and submits amicus briefs in tax litigation, with the aim of improving the integrity of the tax system, saving and raising revenues, and advancing equity.
Modernizing Partnership Taxation
September 25, 2024
Miles Johnson, Sophia Yan, Chye-Ching Huang, and Grace Henley
Partnership tax reform should be a key part of the current and upcoming tax policy debate, with large parts of the 2017 Tax Cuts and Jobs Act set to expire at the end of 2025. Partnerships are a large and growing slice of the economy, representing almost 30 percent of business income in the United States. But partnership tax rules today have some critical weaknesses that generate wasteful planning, undermine equity, and reduce revenue. A new policy proposal from The Tax Law Center and The Hamilton Project examines the current structure of partnership taxation and presents a selection of reform proposals. Read a summary here and the full proposal here.
The Tax Law Center and the Hamilton Project held an event, featuring U.S. Senate Finance Chair Ron Wyden, to lay out the scope of the partnership tax challenge for policymakers and discuss what changes should be considered. View the recording here.
Moore v. United States at the Supreme Court
The Tax Law Center has published resources to help readers understand the landmark tax case at the Supreme Court:
- New analysis on the decision and accompanying blog post: "Everyone agrees the Moores lost at the Supreme Court — except their counsel"
- NYU Law Forum event: Chye-Ching Huang and other experts discussed the legal, economic, and ethical issues the Moore case presents.
- The Tax Law Center's amicus brief, co-authored with Professors Ari Glogower, David Kamin, Rebecca Kysar, and Darien Shanske
The “Tealbook”: Options to Broaden the US Tax Base
A raft of tax loopholes and preferential treatments totaling $1.5 trillion shrink the tax base, lose revenues, and attract tax avoidance and evasion instead of productive investment. With a major year for tax policy looming in 2025, the Tax Law Center aims to deepen the conversation by providing detailed options for potential changes that go beyond simply ending, extending, or modifying the provisions of the 2017 tax law. Our new online tool allows users to learn about current holes in the tax system, filter policy options by topic, and find links to information and analysis including revenue estimates where available. Download a PDF version here.
Tax Law Center's Blog
Treasury and the IRS issue important new guidance regarding direct pay for clean energy credits
March 11, 2024
The Clean Hydrogen Tax Credit: Why Induced Emissions Must be Considered
February 28, 2024
How Treasury and the IRS have the authority to eliminate a little-known tax subsidy for executives’ personal use of corporate jets
February 22, 2024
Recent Work
How large businesses use partnerships to create tax deductions out of thin air: An explainer on related party basis shifting
July 26, 2024
Tax Law Center Staff and Miles Johnson
Comment on Notice 2024-54 and Forthcoming Guidance Regarding Partnership Related-Party Basis Shifting Transactions
July 17, 2024
Comment Regarding Stock Repurchase Excise Tax Proposed Regulations
June 21, 2024
Duncan Hardell, Chye-Ching Huang, Mike Kaercher, Kelsey Merrick, and Thalia Spinrad
Press Highlights
June 20, 2024
Supreme Court upholds a tax on corporate wealth held overseas
Los Angeles Times
Quoted: Chye-Ching Huang’s statement in response to the decision in Moore v. US.
June 20, 2024
Justices uphold Trump tax on overseas investments in win for Biden
CNN
Quoted: Chye-Ching Huang’s statement in response to the decision in Moore v. US.
June 12, 2024
Campaign Underway to Repeal the Corporate Transparency Act
Tax Notes (Subscription Required)
Mentioned: The Tax Law Center’s amicus brief on National Small Business United et al. v. U.S. Department of the Treasury.
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