What Do Walt Disney World And The 2018 Tax-Exempt Bond Market Have In Common?

Last week, all of my dreams came true when I had the good fortune of going to Walt Disney World with my family. In addition to watching my kids train to be Jedi Knights, I had the opportunity to meet a number of Disney characters, including Cinderella. In so doing, I was reminded that although tax reform eliminated tax-exempt advance refunding bonds issued after December 31, 2017 (discussed here and here), it did nothing to curb the use of so-called “Cinderella Bonds” to advance refund outstanding tax-exempt bonds.… Read more

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Weekly SSRN Tax Article Review And Roundup: Scharf Reviews Federal Tax Treatment Of Charitable Contributions For State Tax Payments

One of the most important lessons I learned in law school is that legal rules are often less ideological than the context from which they emerge.  It is a lesson I’ve thought about repeatedly this past year, as questions about state standing to sue the federal government and the validity of nationwide injunctions are raised by new parties against a new administration.  I hadn’t, however, seriously considered the way such lessons might apply to substantive tax law.

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