Tax Law History

See Sheldon D. Pollack, “Origins of the Modern Income Tax,” The Tax Lawyer, Vol. 66, No. 2 (Winter 2013)


See Edward J. Roche, “Federal Income Taxation of Medical Marijuana Businesses,” The Tax Lawyer, Vol. 66, No. 2 (Winter 2013), including matters relating to UNICAP, deductions for ordinary and necessary business expenses and the denial thereof under I.R.C. 280E.

Can bond counsel provide an exemption opinion with respect to interest if the interest rate may be increased as a result of increased bond lending costs? Some bond counsel prefer not to opine as to any portion of the interest rate that is adjusted in the event bank costs go up.  However, such adjustments may still be eligible for exemption if the adjustments reflect increased lending costs.  There does not appear to be consensus on how to address increased costs that are incorporated into the interest rate.

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