Decoupling practices that seemed both clever and innovative in their earliest days today represent a growing threat to corporate law. As the authors concede, our current set of mandatory disclosures—crafted without derivatives in mind—remain overmatched by the strategies that can be employed from a full menu of available decoupling devices. More troubling is the idea that ‘as derivatives markets continue to grow, decoupling should become easier, and ownership and control should diverge even further.’
[T]his essay hopes to minimize a particular type of dispute—whether the IRS is 'playing fair' with the tools at its disposal. The public's respect for the tax agency and tax system depends upon receiving assurance that this very basic promise of government is being kept.
If the 'sanctuary' of the family home is a sufficiently grave policy consideration to justify reverse veil piercing of the corporate veil, is not vindicating the free exercise rights of the owners of an incorporated business equally important or, indeed, of far greater importance?
One measure [of activism] is to ask how willing the Court seems to be to step in and overturn an act of Congress. By that standard, activism abounded in the 2012–13 Term’s marquee cases.