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The More Things Change—Much Talk of Reform, But Are Real Results Likely?

Author: Erik M. Jensen.

Source: Volume 28, Number 03, Spring 2011 , pp.89-96(8)

Abstract:

This article expresses skepticism that some of the proposals of the National Commission on Fiscal Responsibility and Reform (the so-called “debt commission”) are likely to go far as part of any tax reform associated with deficit reduction, and it describes one recent judicial decision that at least temporarily calls into question the codification of the economic substance doctrine.

Keywords: debt commission; qualified residence interest; charitable contribution deduction; municipal bond interest; economic substance.

Affiliations: 1: Case Western Reserve University School of Law.