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A Brief Analysis of Governor Palin's Tax Returns for 2006 and 2007

Bryan Camp
Texas Tech University - School of Law


October 5, 2008


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.

Keywords: Palin, hobby loss, circular 230, covered opinions, travel reimbursements, income tax, civil penalties, negligence, tax returns, tax return preparation

JEL Classifications: K20, K40

Working Paper Series

Date posted: October 06, 2008 ; Last revised: October 25, 2009

Suggested Citation

Camp, Bryan T., A Brief Analysis of Governor Palin's Tax Returns for 2006 and 2007 (October 5, 2008). Available at SSRN: http://ssrn.com/abstract=1279105


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Contact Information

Bryan T. Camp (Contact Author)
Texas Tech University - School of Law ( email )
1802 Hartford
Lubbock, TX 79409
United States
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