Bryan Camp (Texas Tech University – School of Law) has posted A Brief Analysis of Governor Palin’s Tax Returns for 2006 and 2007 on SSRN. Here is the abstract:
Governor Palin’s 2006 and 2007 tax returns create several teaching opportunities for basic tax classes. This paper analyzes five substantive issues created by the returns and by a legal opinion letter written by Roger Olsen on some of the issues.
The five issues are: (1) the proper treatment of $17,000 paid to Palin by the state of Alaska as her travel allowance; (2) the proper treatment of $43,000 paid to Palin as a travel allowance for her husband and children; (3) the proper treatment of a $9,000 loss claimed for her husband’s racing activity; (4) whether the Palins are subject to the penalties for negligence; and (5) whether Mr. Olsen’s letter meets the standards for tax practice in Circular 230.