Hastings 1

Evan Hastings
ENC 1102
Professor Wolcott
2 November 2015
Annotated Bibliography
Tax laws are an ever-changing scenario in the economic structure of the United
States of America. Tax laws change over time for many different reasons. As citizens of
the United States, we have a very important role in the world of tax. Taxes are used to
fund important projects such as infrastructure, health, the military, and other government
funded areas. Whether taxes collected are used in appropriate manners or not is all up to
those that govern us.
Situations arise that usher in need for changes in tax laws. As the United States
continues to develop and age, older laws become less effective and more obsolete. Which
brings the conversation amongst discourse communities in the world of tax accounting.
In such discourse communities, members need to be informed of new changes as their
work revolves all around it.
In this annotated bibliography, the conversation of tax changes and their effects is
an on going debate. Taxes affect almost every American and have played a large role in
the history of the United States. However as old as taxes may be, this conversation is a
more recent one. The journals accessed below range from the years 2012 through 2015.
The intended audience of this bibliography is for accounting students in graduate school
and or professionals in the field of tax.

Hastings 2
Pratt, David, and Scott Andrew Bowman. "It's 2013: Now What?" Florida Bar Journal
87.3 (2013): 31-36. Academic Search Premier [EBSCO]. Web. 13 Oct. 2015.
<http://eds.a.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=487a958c-99d6417c-9e48-e1516f8d84b2%40sessionmgr4001&vid=6&hid=4202>.
David Pratt a partner in the personal planning department of Proskauer Rose and
Scott Andrew Bowman an attorney at Proskauer Rose, both shed light on ATRA
(American Relief Act of 2012) with regard to transfer tax, estate planning, and
effects legislation could have on 2013. ATRAs most important provision, as
opinionated by the authors, is the continuation of tax relief, Unemployment
Insurance Reauthorization, and the Job Creation Act of 2010. For practitioners
and clients, ATRA gave some certainty into transfer tax law unlike ATRAs
predecessor, Economic Growth and Tax Relief Reconciliation Act of 2001
(EGTRRA). As a result of the certainty in transfer tax created by ATRA,
practitioners would then have to clean up any leftover transactions from 2012.
Felix, Alison, and Kate Watkins. "The Impact of an Aging U.S. Population on
State Tax Revenues." Economic Review (2013): 5-37. Academic Search Premier
[EBSCO]. Web. 13 Oct. 2015.
<http://eds.a.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=487a958c-99d6417c-9e48-e1516f8d84b2%40sessionmgr4001&vid=11&hid=4202>.
Alison Felix an assistant vice president and branch executive at the Denver branch
of the Federal Reserve Bank of Kansas City, and Kate Watkins a former assistant
economist at the Denver branch, both reported on the impact of aging Americans
on state taxes. The theory is that as Americans age and retire, they are less likely

Hastings 3
to spend money and will thus reduce the states sales taxes and individual income
taxes which account for about 80% of total state tax collections. The article has
shown that demographic change alone is expected to lead to declines in per
capita revenue in all but three states that assess a state income tax (13). Hawaii
for example is facing a 3.3 percent decrease to its per capita taxable expenditures
from its aging population. Tax policymakers must take into account the effects an
aging population can have on a states tax revenue.
Reynolds, Lockwood C., and Shawn Rohlin. "Do Location-Based Tax
Incentives Improve Quality Of Life And Quality Of Business
Environment?" Journal of Regional Science 54.1 (2014): 1-32. Academic Search
Premier [EBSCO]. Web. 13 Oct. 2015.
<http://eds.a.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=487a958c-99d6417c-9e48-e1516f8d84b2%40sessionmgr4001&vid=19&hid=4202>.
Lockwood C. Reynolds and Shawn Rohlin from Kent State University brought up
an interesting question on the effect of location-based tax incentives effect on
quality of life and business environment. An example that the authors point out is
that local and state governments often lure businesses to areas lacking in
economic growth. These programs often lead to increased property values but
there is a mix in workers wages. The area itself could improve, but the worker
whose job moved to that area may not live better.
Hymson, Edward B. "The Debate Over Replacing the Present Income
Tax With an Alternative Tax Structure." Southern Law Journal 23.2 (2013): 181209. Academic Search Premier [EBSCO]. Web. 13 Oct. 2015.

Hastings 4
<http://eds.a.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=487a958c-99d6417c-9e48-e1516f8d84b2%40sessionmgr4001&vid=27&hid=4202>.
Edward B. Hymson discusses the on going debate over the tax structure of the
United States. It is debated whether or not the United States should replace its
current progressive income tax structure with a consumption tax or with a hybrid
income tax. The Congressional Research Service concluded saying that there is no
evidence that a consumption tax could be superior to the present income tax. A
hybrid income tax however can provide satisfy some aspects of the consumption
tax without having political and transitional dilemmas. The author claims that a
hybrid income tax would be most beneficial because it does not tax savings or
investments but still continues with the old system.
Benson, Mitchell E., Donna M. Pironti, and Adam M. Poutasse. "Navigating the 2013
Tax Changes Under PPACA and the HCERA." American Journal of Family Law
27.3 (2013): 155-59. Academic Search Premier [EBSCO]. Web. 13 Oct. 2015.
<http://eds.b.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=37875c13-5cbe4861-851d-0b994a25d471%40sessionmgr112&vid=11&hid=127>.
Benson, Pironti, and Poutasse, all Certified Public Accountants, discuss 2013 tax
changes made by the U.S. Supreme Court for the Patient Protection and
Affordable Care Act (PPACA) and the Health Care and Education Reconciliation
Act (HCERA). Changes included additional Medicare tax on wealthy individuals,
Medicare tax on unearned income, and Medicare tax on real estate income. The
authors conclude, Medicare tax changes need to be considered when calculating
any federal tax calculations for divorce planning, negotiating, support

Hastings 5
calculations, property division, and post-divorce planning. These changes would
have an impact on wealthy individuals and could impact their support payments
and their net marital estate value.
Bracha, Anat, and Daniel Cooper. "Asymmetric Responses to Tax-Induced Changes in
Personal Income: The 2013 Payroll Tax Hike versus Anticipated 2012 Tax
Refunds." Research Review 20 (2013): 93-95. Academic Search Premier
[EBSCO]. Web. 13 Oct. 2015.
<http://eds.b.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=37875c13-5cbe4861-851d-0b994a25d471%40sessionmgr112&vid=17&hid=127>.
Anat Bracha and Daniel Cooper both senior economists in the research
department at the Federal Reserve Bank of Boston, report on tax induced changes
in personal income from the 2013 tax spikes against forecasted 2012 tax returns.
The authors conducted research from the Federal Reserve Bank of Boston and
made several conclusions with regard to tax changes. The authors found that
individuals are more likely to reduce spending after a tax spike rather than a tax
refund. Financial complications do not hinder a taxpayers response to taxinduced income changes. The marginal propensity to consume (MPC) depends on
the saving behavior of the individual. The authors lastly discovered that age and
the shift in the marginal propensity to save (MPS) are the only factors in
explaining the MPC gap.
Perkins, Rachelle Holmes. "Salience and Sin: Designing Taxes in the New Sin Era."
Brigham Young University Law Review 2014.1 (2014): 143-84. Academic Search
Premier [EBSCO]. Web. 25 Oct. 2015.

Hastings 6
<http://eds.a.ebscohost.com/ehost/detail/detail?sid=efdd408f-c3e5-4457-9535b4c6b48d3c00%40sessionmgr4004&vid=10&hid=4111&bdata=JnNpdGU9ZWh
vc3QtbGl2ZQ%3d%3d#AN=96514840&db=aph>.
In this scholarly article by Rachelle Holmes Perkins, an assistant professor of law
from the George Mason School of Law, we are introduced to the concept of sin
taxes and the role that they have. Sin taxes according to Perkins are taxes on
behaviors that are deemed to be socially undesirable (Perkins 143). Sin taxes are
most known to be imposed on cigarettes and alcohol. Lawmakers have now
increased the scope of sin taxes beyond smoking and drinking to other taboo such
as tanning and strip clubs. This broader sense of sin taxes may not only bring in
more tax revenue but also discourage such activities. A new sin tax known as the
soda tax is now being imposed in forty of the fifty states with its mission to help
prevent unhealthy consumption choices. As explained in the article, sin taxes have
goals beyond generating revenue; their goals are to influence consumer choices
through taxation.
Reid, Harry. "Impact of Tax Policy on Gasoline Prices." Congressional Digest 91.5
(2012): 130-60. Academic Search Premier [EBSCO]. Web. 25 Oct. 2015.
<http://eds.a.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=efdd408f-c3e5-44579535-b4c6b48d3c00%40sessionmgr4004&vid=15&hid=4111>.
In this memorandum by Senate Democratic Leader Harry Reid, Reid proposes
that any tax changes in the oil industry would have an impact on domestic
gasoline prices. According to Reid, the price of gasoline is comprised by four
elements; The largest component of the price is crude oil (67 percent), followed

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by Federal, State, and local excise and sales taxes on gasoline sales (13 percent)
and distribution and marketing expenses (9 percent) (Reid 130). The price of oil
exceeds the price of costs and thus a small increase in tax would do nothing to
reduce oil output and would lead to increased gas prices. Reid calls for a repeal on
intangible drilling costs and to replace it with a cost amortization method, which
would be more consistent with depreciation and have no impact on U.S. oil
production and gas prices.
Mertens, Karel, and Morten O. Ravn. "The Dynamic Effects of Personal and Corporate
Income Tax Changes in the United States." American Economic Review 103.4
(2013): 1212-247. ABI/INFORM [ProQuest]. Web. 25 Oct. 2015.
<https://login.ezproxy.net.ucf.edu/login?
url=http://search.proquest.com/docview/1366682815?accountid=10003>.
In this scholarly article by Karel Mertens and Morten O. Ravn from the
Department of Economics, they discuss the effects personal and corporate income
tax changes have on the United States. The authors have found through their
research that cuts in personal income taxes lower tax revenues, however corporate
tax cuts have no effect on tax revenues. Government spending remained at a
constant rate as well as short term nominal interest rates even after tax shocks.
The authors concluded that tax changes do have an important impact on the
domestic economy. It is up to lawmakers to create tax laws that help the economy
and not have consequences down the road.
Kaplan, Richard L., and Dawson J. Price. "Change and Continuity in Fringe
Benefit Taxation: Seeking Sense and Sensibility." New York Law School Law

Hastings 8
Review 59.2 (2015): 285-306. Academic Search Premier [EBSCO]. Web. 25 Oct.
2015.
<http://eds.a.ebscohost.com/ehost/pdfviewer/pdfviewer?vid=27&sid=efdd408fc3e5-4457-9535-b4c6b48d3c00%40sessionmgr4004&hid=4111>.
In this scholarly article by Richard L. Kaplan and Dawson J. Price, the authors
discuss the taxation of so called fringe benefits. Fringe Benefits as the authors
call it are benefits given to employees by their employers such as health insurance
or retirement planning services. Fringe benefits are not taxed and that brings up an
issue for discussion of tax reform. Many fringe benefit exclusions apply to social
security and thus reduce tax receipts for it; this becomes an issue for the baby
boomer generation as they are beginning to collect retirement benefits. The
authors take the side of taxation for fringe benefits, believing it would generate
substantial revenue, increase fairness between taxpayers, and provide greater
economic efficiency (Kaplan 306).
Milne, Janet E. "Storms Ahead: Climate Change Adaptation Calls For Resilient
Funding." Vermont Law Review 39.4 (2015): 819-66. Academic Search Premier
[EBSCO]. Web. 27 Oct. 2015.
<http://eds.b.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=33800a87-ad7c4448-a5b3-1a23fe46e609%40sessionmgr110&vid=8&hid=114>.
In this scholarly article by Janet E. Milne, a Professor of Law and Director of the
Environmental Tax Policy Institute at Vermont Law School, she examines
environmental tax policy and its effect on climate change adaptation. We are
introduced to potential tax policies such as carbon taxes, dark cloud taxes,

Hastings 9
adaptation fees or taxes on impervious surfaces, and real estate transfer taxes. The
listed taxes will depend on the type of adaptation action, an assessment of who
most logically should bear the cost, and the appropriate level of government
that should serve as the tax collector and dispenser of funds (Milne 866). For
example, if a factory was responsible for a disaster caused by carbon emissions,
the federal government would charge that factory with a carbon tax.
Haggerty, Todd. "Behind the Numbers." State Legislatures June 2014: 32-33. Academic
Search Premier [EBSCO]. Web. 27 Oct. 2015.
<http://eds.b.ebscohost.com/ehost/pdfviewer/pdfviewer?vid=15&sid=33800a87ad7c-4448-a5b3-1a23fe46e609%40sessionmgr110&hid=114>.
In this periodical by Todd Haggerty, a policy specialist in the NCSL Fiscal Affairs
department, Haggerty discusses changes in tax collection in the United States. The
fiscal year of 2013 saw a 6.1% increase in total state tax collections compared to
the fiscal year of 2012. This increase in tax revenue had a lot to do with the
personal income tax that rose 10.3% from 2012 and increases in sales and use tax.
The author claims the increase in revenue, especially for personal income taxes,
was partially a result of taxpayers pushing as much of their income into tax year
2012 as they could to avoid an anticipated increase in federal tax rates in 2013
(Haggerty 33). 42 of the 50 states met or exceeded tax revenue from 2008.
Haggerty warns not celebrate the successful fiscal year because 2014 will be met
with high expectations.
Ford, Christopher N., Shu Wen Ng, and Barry M. Popkin. "Targeted Beverage Taxes

Hastings 10
Influence Food and Beverage Purchases among Households with Preschool
Children." Journal of Nutrition 145.8 (2015): 1835-843. Academic Search
Premier [EBSCO]. Web. 27 Oct. 2015.
<http://jn.nutrition.org/content/145/8/1835.full.pdf+html>.
In this scholarly article by Christopher N. Ford from the Department of Nutrition,
Shu Wen Ng from the Carolina Population Center, and Barry M. Popkin from the
University of North Carolina at Chapel Hill, the authors analyze the effects
beverage taxes have on consumers. Taxing beverages has been proposed by many
researchers as a way to deter childhood obesity in the United States. The authors
found that small tax increases such as 10% would be able to sway consumer
opinion when purchasing their sugary drink. The authors concluded that a tax on
beverages high in sugar and/or fat may be associated with favorable shifts in
food/beverage purchases among US households with a preschool child (Ford
1842).
McDonald, Dustin. "Online Sales Tax Legislation." Government Finance Review 1 Apr.
2015: 50-52. Academic Search Premier [EBSCO]. Web. 27 Oct. 2015.
In this periodical by Dustin McDonald, a director of the GFOAs Federal Liaison
Center in Washington D.C., discusses the debate over sales taxes on Internet sales.
Online sales equated to be $225 billion in 2012 and the online sales revenue is
expected to increase into the future. Legislation aiming to tax this large market is
the Online Sales Simplification Act. The Online Sales Simplification Act would
use the sales tax based on where the retailer is located. A Problem facing this
legislation would be businesses leaving their state to go to states where the sales

Hastings 11
tax is the lowest. Opponents of the online sales tax include ebay, Facebook,
Yahoo, and AOL. If sales taxes were to be a mandatory by the federal
government, online shopping can expect to take a big hit.
Philander, Kahlil S., Bo J. Bernhard, Bradley S. Wimmer, Ashok K. Singh, and William
R. Eadington. "U.S. Casino Revenue Taxes and Short-run Labor Outcomes."
Journal of Policy Modeling (2015): 35-46. Academic Search Premier [EBSCO].
Web. 28 Oct. 2015. <http://ac.els-cdn.com/S0161893815000095/1-s2.0S0161893815000095-main.pdf?_tid=6e4cad1c-7dda-11e5-a23f00000aab0f02&acdnat=1446081461_c1626a07c83d410ca4442bde03b16363>.
In this scholarly article by Khalil S. Philander, Bo J. Bernhard, Bradley S.
Wimmer, Ashok K. Singh, and William R. Eadington, all from the University of
Nevada, discuss effects casino tax rates have on short-run labor outcomes. The
authors found in their study that they expect a 1% increase per employee in gross
gaming revenue tax. The contributors also found that states with relatively low tax
rates could increase revenue with small losses in employment. The authors claim
that , policy makers should make more informed and explicit decisions about
their casino tax policy (Philander 44).
Lipford, Jody W., and Bruce Yandle. "Taxpayers and Tax Spenders Does a Zero Tax
Price Matter?" Independent Review 16.4 (2012): 517-31. Academic Search
Premier [EBSCO]. Web. 28 Oct. 2015.
<http://eds.b.ebscohost.com/ehost/pdfviewer/pdfviewer?vid=11&sid=bb28231945eb-478a-963c-50e756680949%40sessionmgr111&hid=114>.

Hastings 12
In this scholarly article by Jody W. Lipford, a professor of economics in the
Department of Economics and Business Administration at Presbyterian College
and Bruce Yandle, a professor of economics emeritus at Clemson University, they
discuss the concept of a zero tax price law. The authors believe that a
fundamental restructuring of the tax code is essential if the U.S. government is to
bring down its debt and curb entitlement spending (Lipford 530). The authors
found that when a federal benefit has tax prices at zero, demand for benefits
increase. Their findings confirm the notion that the U.S. must sort its fiscal house
and to change its laws in order to broaden the base.
Parthemer, Mark R., and Sasha A. Klein. "Taking control: six notable strategies to
manage net investment income tax." Probate & Property Nov.-Dec. 2014: 32+.
General OneFile. Web. 29 Oct. 2015. <https://login.ezproxy.net.ucf.edu/login?
auth=shibb&url=http://go.galegroup.com/ps/i.do?id=GALE
%7CA390872468&v=2.1&u=orla57816&it=r&p=ITOF&sw=w&asid=707320fd7
03917dead6ca3adf11e1676>.
In this scholarly article by Mark R. Parthemer and Sasha A. Klein, the authors
discuss changes in the 2013 income tax return filing system. 2013 came with high
income tax rates as well as the Section 1411 Net Investment Income Tax (NIT).
The authors state that income tax burdens are at a peak for individuals and trusts.
The authors also add it is crucial for advisors to master the new tax environment
so they can take control and guide clients to navigate through this more tax-costly
maze (Parthemer).
Berman, Dennis K. "Will a New Congress Change Tax Code?" Wall Street Journal

Hastings 13
264.108 (2014): B2. Academic Search Premier [EBSCO]. Web. 29 Oct. 2015.
<http://resolver.flvc.org/ucf?genre=article&atitle=Will%20a%20New
%20Congress%20Change%20Tax%20Code?&title=Wall%20Street%20Journal
%20-%20Eastern
%20Edition&issn=00999660&isbn=&volume=264&issue=108&date=20141105
&aulast=Berman%2C%20Dennis
%20K.&spage=B2&pages=&rft.sid=EBSCO:Academic%20Search
%20Premier:99248947>.
In this article from the Wall Street Journal by Dennis K. Berman, Berman asks the
question: will there be corporate tax reform? Both sides of the political spectrum
want tax reform but both sides have different views on the way reform effects
Americans. Republicans want a comprehensive tax reform that would cut
personal taxes as well as taxes for small businesses. However, that would also
lead to tax cuts for the wealthy, which the Democratic Party is very against of.
Both parties would need to compromise and form a bill to satisfy both parties.
The author states that the reason why there is no compromise is that the
Republicans have a very high chance of controlling the Senate in 2015 and so
Americans will have to wait for there to be any tax reform.