St. Thomas Law Review
October 29, 2024By Jose Linares
Victory can be taxing. After the July 2024 Olympic games in Paris, there have been questions as to whether Olympic medalists can receive tax exemptions on their winnings. Certain amendments to the Internal Revenue Code (“I.R.C.”) have allowed exemptions for prize winning-athletes who earn under a certain yearly income.[i] This exemption will also apply to […]
Constitutional LawCorporate LawFeaturedTax Law
April 10, 2024By Michael Schaum
The fruit or the tree? Being the lone sentry against unapportioned federal taxation, the very definition of income is central to tax jurisprudence. Taxable “income” has cautiously been likened to the fruit-bearing tree: fruit’s economic value should be attributed (taxed) to the tree on which it grows.[i] Likewise, attempts to re-assign fruits to another […]
March 18, 2024By Catherine Gluchowski
Sitting at the table of the highest court in the land is the monumental case, Moore v. United States.[i] A case that concerns a potential seismic shift in the legal interpretation of what constitutes taxable income in the United States. At the crux of the debate is the Mandatory Repatriation Tax (“MRT”), a policy […]
Constitutional LawFeaturedStatutory InterpretationTax Law
February 26, 2024By Samuel Bazylenko
Taxation has been an ongoing storm of debate in the United States for centuries. Under the Sixteenth Amendment of the U.S. Constitution, Congress holds an enumerated power to “lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States.”[i] This definition of income has been reinforced by the […]
