Revocation of tax-exempt status,excise taxes,and other intermediate sanctions issues,plus income taxes: how the rules have changed after Caracci v. Commissioner

This Article discusses Caracci v. Commissioner, in which the Tax Court imposed intermediate sanctions based on its finding that insiders caused three applicable tax-exempt organizations to sell assets to three for-profit entities owned and controlled by those same insiders. It explores the standards enumerated in Caracci, hypothesizes as to the pending appeal, and examines the guidance given by the decision's clarification of the intermediate sanctions provisions of the Internal Revenue Code.     

Japanese aid to Africa: Patterns,motivation and the role of structural adjustment

This article presents estimates of capital flight from 25 low-income sub-Saharan African countries in the period 1970 to 1996. Capital flight totaled more than $193 billion (in 1996 dollars); with imputed interest earnings, the accumulated stock of flight capital amounts to $285 billion. The combined external debt of these countries stood at $178 billion in 1996. Taking capital flight as a measure of private external assets, and calculating net external assets as private external assets minus public external debts, sub-Saharan Africa thus appears to be a net creditor vis-à-vis the rest of the world.     

Burgeoning directions for the prevention of youth violence. Introduction

Despite focused efforts toward the prevention of youth violence within the United States, it continues to adversely affect the lives of children and families within our communities and society at large. The articles in this issue address risk and protective factors that affect violence among urban youth to inform prevention and treatment. Pathways to youth violence are complex and may begin early. Prevention efforts in school, family, and community settings that address risk and protective factors within a socially, culturally, and ecologically valid context early in human development are crucial. While challenges remain for the prevention of youth violence, research suggests opportunities to improve our efforts. Federal agency initiatives in partnership with communities are currently underway to increase the knowledge base and advance prevention of youth violence among diverse populations.