Monday, October 10, 2016

Mitigation Provisions of the Code - §§ 1311-1314 (10/10/16)

I have recently been revisiting the mitigation provisions of the Code (Discussed in the Federal Tax Procedure book at Chapter VI - Statutes of Limitation, VII. G. (Student Edition pp. 177-185; and Practitioner Edition pp. 256-265).  I will have a revised version of that discussion in the next edition of the Federal Tax Procedure Book (currently planned for early August 2017, although I will try to post the revised version of this mitigation discussion prior to then)

On the last page of the discussion in the current edition (2016), I have the following (footnotes omitted)
5. Supplementary Reading for Mitigation Enthusiasts. 
I commend to your further study on mitigation the best (in my judgment) tax procedure law review article ever written: John M. Maguire, Stanley S. Surrey and Roger John Traynor, Section 820 of the Revenue Act of 1938, 48 Yale L. J. 509 (Part 1) and 719 (Part 2) (1939). Students using this book may not recognize the authors, but they are a team of all-time legal “superstars.” The authors were young brain trusters lured to Washington by Franklin Delano Roosevelt's “New Deal.” They assisted in the drafting and enactment of the mitigation provisions of the Code in the late ‘30s. Maguire and Surrey rose to the heights of tax academia with distinguished private and public careers. Traynor became one of this country's most respected jurists as a Justice on the California Supreme Court where he shaped the debate of thoughtful discussion in many legal areas. All law students and lawyers should at least know who Traynor is. The ultimate contributions to American jurisprudence by each these authors in their own way was foreshadowed by this article.
I have received permission from the Yale Law Journal to provide linked copies of the two part law review article so that readers of this blog and the book can review online or download, as appropriate.  The links are here (Pat 1) and here (Part 2).

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