UC Davis experts: Income tax

Individuals are chewing pencils and organizing receipts, businesses are checking calculations. With tax season here, several UC Davis faculty members are available to discuss issues related to personal and corporate income tax. And a law student can describe a program to help low-income families complete their returns. If you need information on a topic not listed, please contact Claudia Morain (530) 752-9841, cmmorain@ucdavis.edu, or Julia Ann Easley, (530) 752-8248, jaeasley@ucdavis.edu of the UC Davis News Service.

The economy and income tax

Steven M. Sheffrin, dean of the Division of Social Sciences and a professor of economics, has written extensively about the national debt, tax policy and the future of Social Security and Medicare. A former financial economist with the U.S. Treasury, a Brookings Economic Policy Fellow and a member of the board of the National Tax Association, Sheffrin is an expert on fiscal policy and politics. He worked at the Treasury Department when Ronald Reagan's administration moved the bill through Congress to cut income taxes. Contact: Steven M. Sheffrin, economics, (530) 754-8925, smsheffrin@ucdavis.edu.

Taxpayer compliance

The Internal Revenue Service is losing its ability to ensure taxpayer compliance with the voluntary tax system, according to Professor Daniel Simmons of the School of Law. A professor in residence with the IRS' Office of Chief Counsel in 1986-87, he says audit rates and the IRS' ability to audit complicated returns have declined over the last few years. Simmons is co-author of several books on federal income taxation for individuals and business organizations including the third edition of "Federal Income Taxation: Cases and Materials." Contact: Daniel Simmons, School of Law, (530) 752-2757, dlsimmons@ucdavis.edu.

Tax reform and tax reductions

How can we evaluate current proposals to reduce or restructure the personal income tax? L. Jay Helms, associate professor of economics, has written and lectured extensively on public finance, the economics of taxation, and the impact of tax policy on economic growth. Contact: L. Jay Helms, Economics (530) 752-2094, ljhelms@ucdavis.edu.

Pension taxation

Increasing the caps on tax-deferred contributions to pension plans, 401(k) plans, and IRAs would be expensive and create little new savings, particularly by low- or moderate-income workers. Pension tax breaks already cost the federal government about $100 billion a year in lost revenues, according to Professor Bruce Wolk of the UC Davis School of Law. A specialist in pension and employee benefit law, he says that rather than increasing this cost further, the revenue could be put to better use paying down the debt or funding social programs. Wolk, who is co-author of "Pension and Employee Benefit Law," teaches courses on federal income taxation and pension law. Contact: Bruce Wolk, School of Law, (530) 752-3343, bawolk@ucdavis.edu.

Business tax, public company accounting practices

Paul Griffin, associate dean of the Graduate School of Management and a professor of management, studies the role of accounting and reporting in financial markets. His research emphasis is on the effects of accounting measurements and disclosures on capital market behavior and the role of security analysts in forming financial expectations. He can also offer insight on how the investments and liability of the Big Six accounting firms help them maintain auditor independence. Contact: Paul Griffin, Graduate School of Management, (530) 752-7372, pagriffin@ucdavis.edu.

Media contacts:

Julia Ann Easley, News Service, (530) 752-8248, jaeasley@ucdavis.edu
Claudia Morain, News Service, (530) 752-9841, cmmorain@ucdavis.edu

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Last updated January 22, 2004