Business, Management and Accounting
8 years ago

Tax System Vulnerable to Related Parties' Manipulation, Urgent Reform Needed

SSRN Electronic Journal
Related Parties and the Need to Bridge the Gap between the Income Tax and Transfer Tax Systems
Jay A. Soled, Mitchell M. Gans

Paper Summary

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Related parties can manipulate transactions to lower their taxes unfairly. While measures exist in income tax to prevent this, transfer tax lacks similar safeguards. This disparity harms the transfer tax system's integrity. Congress should apply the same scrutiny to related parties in transfer taxes as in income tax to reform the system.