This presentation covers:
- prevailing standards: distilling the income tax law’s normative approach to “naughty”
- specific traits: reviewing the specific income tax traits of a naughty tax distribution
- contributing factors: identifying the commercial factors that contribute to “nice” distributions becoming naughty
- remedial aspects: reviewing where self-correction is open, and the tax punishments that otherwise await
- changing standards: reflecting on whether prevailing standards are changing.