About

Professor Jeff Hoopes is the Harold Q. Langenderfer Scholar of Accounting and the Thomas Willis Lambeth Distinguished Chair in Public Policy at UNC Kenan-Flagler Business School. His research focuses on how taxpayers respond to tax laws and changes in tax enforcement, examining issues at the intersection of accounting, public economics, and finance. He has expertise in both corporate and individual taxation, as well as tax administration and compliance. Dr. Hoopes teaches classes related to taxes and business strategy, and explores how tax policy influences taxpayer decisions and the broader economy. He serves as the research director of the UNC Tax Center and regularly collaborates with the research analysis and statistics division of the Internal Revenue Service on joint research projects. Dr. Hoopes is also a CPA with an active license in Colorado. His research has been published in numerous prestigious journals, including the Journal of Accounting and Economics, Journal of Financial Economics, and The Accounting Review. He is frequently cited in the national media, with his work and comments featured by outlets such as NPR, The New York Times, The Wall Street Journal, and others. Dr. Hoopes earned his PhD in business administration from the University of Michigan and holds a MAcc with a tax emphasis from Brigham Young University, where he also completed his BS in accounting.

Research topics

• Artificial Intelligence
• Business
• Political Science
• Accounting
• Computer Science
• Law
• Public economics
• Psychology
• Actuarial science
• Economics
• Mathematics
• Mathematics education
• Microeconomics
• Finance

Selected publications

• Galle v Rauh: Comparing Two Revenue Estimates for California Billionaire Taxation

  SSRN Electronic Journal · 2026-01-01

  preprintOpen access1st authorCorresponding
  PublisherDOI

• Who reports cryptocurrency to the IRS?

  Review of Accounting Studies · 2026-03-01

  articleOpen access1st authorCorresponding

  Abstract Cryptocurrency has been the subject of heightened regulatory and investor attention in recent years, and regulators and policymakers across the globe are deliberating on how to account for, regulate, tax, and oversee digital assets and cryptocurrency marketplaces. Yet researchers have a limited understanding of key attributes of those who deal in crypto assets, such as whether their financial sophistication differs from that of other investors. Using U.S. administrative data, we provide evidence on (i) the attributes of taxpayers reporting cryptocurrency sales to the IRS, (ii) how these attributes are evolving, and (iii) how investors treat cryptocurrency versus other financial assets in certain settings. The results suggest that average reporting cryptocurrency sellers exhibit demographic attributes generally associated with less financial sophistication and are more likely to trade in meme stocks. Overall, we provide timely evidence that can inform cryptocurrency policy deliberations by highlighting the characteristics of taxpayers who appear to report cryptocurrency sales.

  PublisherOA PDFDOI

• Corporate Tax Shaming

  SSRN Electronic Journal · 2025-01-01

  preprintOpen access
  PublisherDOI

• The Scope of Tax Accounting Research

  SSRN Electronic Journal · 2025-01-01

  preprintOpen access
  PublisherDOI

• The effect of US tax reform on the taxation of US firms' domestic and foreign earnings

  UNC Libraries · 2025-03-25

  articleOpen access

  We quantify the immediate net effect of the Tax Cuts and Jobs Act (TCJA) on the tax burden of corporate profits for public US corporations. We find similar reductions in effective tax rates for domestic and multinational firms, yet the entirety of multinational tax savings stemmed from tax savings on their domestic, not foreign, earnings. We find no significant change in the federal tax burden on foreign earnings neither on average norspecifically for firms most likely to be subject to new anti‐abuse provisions. We find some evidence that firms not targeted by anti‐abuse provisions saw reductions in their federal tax burden on foreign income. Overall, while the tax burden on domestic income decreased significantly, our findings suggest the tax burden on the foreign earnings of US multinationals is largely unaffected despite the overhaul of the international tax system. Importantly for US multinationals' investment decisions, while foreign income was heavily tax‐favored prior to tax reform, we find that foreign and domestic incomes are similarly taxed after TCJA enactment. L'effet de la réforme fiscale aux États‐Unis sur l'imposition des bénéfices réalisés à l'intérieur et à l'extérieur du pays par les entreprises états‐uniennes Les auteurs quantifient l'effet net immédiat du projet de loi Tax Cuts and Jobs Act (TCJA) sur la charge fiscale des bénéfices des sociétés pour les entreprises publiques aux États‐Unis. Les auteurs constatent des réductions similaires des taux d'imposition effectifs pour les entreprises nationales et multinationales, mais la totalité des économies d'impôt des multinationales provient d'économies d'impôt sur leurs bénéfices réalisés à l'intérieur du pays, et non à l'extérieur. Ils n'observent aucun changement significatif de la charge fiscale fédérale sur les bénéfices réalisés à l'extérieur du pays, que ce soit en moyenne ou spécifiquement pour les entreprises les plus susceptibles d'être soumises aux nouvelles dispositions anti‐abus. Les auteurs relèvent certaines données établissant que les entreprises qui ne sont pas visées par les dispositions anti‐abus ont vu des réductions de leur charge fiscale fédérale sur les revenus perçus à l'étranger. Dans l'ensemble, alors que la charge fiscale sur les revenus perçus au pays a diminué de manière significative, les résultats de l'étude suggèrent que la charge fiscale sur les revenus perçus à l'étranger des multinationales aux États‐Unis n'a pratiquement pas été affectée malgré la refonte du système fiscal international. Alors que les revenus perçus à l'étranger bénéficiaient fortement d'exonérations fiscales avant la réforme fiscale, les auteurs constatent que les revenus perçus à l'étranger et au pays sont imposés de manière similaire après la promulgation du TCJA, ce qui constitue un élément important pour les décisions d'investissement des multinationales aux États‐Unis.

  PublisherDOI

• Sweeping Changes and an Uncertain Legacy: The Tax Cuts and Jobs Act of 2017

  UNC Libraries · 2025-04-11

  articleOpen access

  The Tax Cuts and Jobs Act (TCJA) of 2017 introduced sweeping changes to individual and corporate taxation. We summarize the major provisions, trace the origins of the Act, and compare it to previous tax changes. We also examine the effects on the government budget, economic activity, and distribution of resources. Based on evidence through 2019, we find that the TCJA clearly raised federal debt and increased after-tax incomes, disproportionately increasing incomes for the most affluent. Its effects on GDP and median wages seem modest at best, although clear counterfactuals are difficult to identify. The impact on investment is less certain, and research is only recently emerging that addresses this question. Empirical analysis of longer-term effects may prove difficult due to the disruptions created by the COVID-19 pandemic starting in 2020.

  PublisherDOI

• Corporate Tax Shaming

  National Tax Journal · 2025-07-25 · 3 citations

  article

  This paper serves two purposes. First, it is a tribute to Joel Slemrod from tax accountants. Joel worked with many accounting researchers, and we honor this work. Second, we review a literature Joel helped start: the literature on the reputational costs of tax avoidance and tax shaming’s effectiveness in increasing tax compliance. We explore the evidence that consumers, employees, politicians, suppliers, or investors impose meaningful reputational costs on firms engaged in tax avoidance. We conclude that, while firms often perceive reputational risks and adjust behavior to avoid public scrutiny, the empirical evidence does not provide strong support for actual meaningful stakeholder responses.

  PublisherDOI

• Investor Perceptions of the Corporate Alternative Minimum Tax

  Management Science · 2025-01-08 · 3 citations

  article

  The Inflation Reduction Act establishes a new 15% corporate minimum tax on the adjusted financial accounting income for large U.S. corporations. Although the minimum tax is estimated to raise $222 billion over 10 years, some fear firms will manipulate their accounting earnings to reduce their tax liabilities, resulting in less revenue raised. Using an event study, we examine the extent to which investors believe this tax will reduce firm value. We examine stock market reactions around key legislative developments leading to the enactment of the book minimum tax. Our findings show targeted firms experience significantly lower stock returns than nontargeted firms during the enactment process (about 1.4%–1.8% of firm value). In aggregate, our findings are consistent with the Joint Committee on Taxation’s revenue estimates. In cross-sectional tests, we fail to find evidence that firms most likely to avoid the tax via earnings management experience more positive returns. We also fail to find less negative returns for firms most likely to pass on the tax to consumers. Overall, our results suggest investors do not expect firms to avoid this tax. Instead, they appear to expect a significant portion of the corporate minimum tax to be remitted by firms and borne by shareholders. This paper was accepted by Ranjani Krishnan, accounting. Funding: F. B. Gaertner acknowledges support from the Cynthia and Jay Ihlenfeld Professorship, M. Pflitsch acknowledges support of a postdoc fellowship of the German Academic Exchange Service (DAAD), S. O. Kelley gratefully acknowledges support from the James L. Henderson Chair, and J. L. Hoopes gratefully acknowledges support from the Harold Q. Langenderfer fellowship. Supplemental Material: The data files are available at https://doi.org/10.1287/mnsc.2024.04750 .

  PublisherDOI

• The Scope of Tax Accounting Research

  Journal of the American Taxation Association · 2025-10-01

  articleOpen access

  ABSTRACT We argue that tax researchers in accounting should expand the scope of their inquiry to include all types of taxes paid by all types of taxpayers, and that editors and reviewers should be more willing to review and consider such papers. Accountants in practice engage with a wide variety of taxes—such as payroll, sales, property, carbon, and other excise taxes—yet tax accounting scholars and journals have largely ignored these areas. We propose that broadening the scope of tax research will better align academic inquiry with real-world practice and public policy. Furthermore, we contend that accounting scholars bring valuable skills to the table for studying the effects of these taxes, given their institutional knowledge, familiarity with tax and accounting data, and experience with taxpayer behavior. By encouraging research on a broader set of taxes, accounting journals and tax accounting scholars have the potential to expand their impact and relevance. JEL Classifications: M40; H20; H25.

  PublisherOA PDFDOI

• Investor Perceptions of the Corporate Alternative Minimum Tax

  UNC Libraries · 2025-01-16

  articleOpen access1st authorCorresponding

  The Inflation Reduction Act establishes a new 15% corporate minimum tax on the adjusted financial accounting income for large U.S. corporations. Although the minimum tax is estimated to raise $222 billion over 10 years, some fear firms will manipulate their accounting earnings to reduce their tax liabilities, resulting in less revenue raised. Using an event study, we examine the extent to which investors believe this tax will reduce firm value. We examine stock market reactions around key legislative developments leading to the enactment of the book minimum tax. Our findings show targeted firms experience significantly lower stock returns than nontargeted firms during the enactment process (about 1.4%–1.8% of firm value). In aggregate, our findings are consistent with the Joint Committee on Taxation’s revenue estimates. In cross-sectional tests, we fail to find evidence that firms most likely to avoid the tax via earnings management experience more positive returns. We also fail to find less negative returns for firms most likely to pass on the tax to consumers. Overall, our results suggest investors do not expect firms to avoid this tax. Instead, they appear to expect a significant portion of the corporate minimum tax to be remitted by firms and borne by shareholders. This paper was accepted by Ranjani Krishnan, accounting. Funding: F. B. Gaertner acknowledges support from the Cynthia and Jay Ihlenfeld Professorship, M. Pflitsch acknowledges support of a postdoc fellowship of the German Academic Exchange Service (DAAD), S. O. Kelley gratefully acknowledges support from the James L. Henderson Chair, and J. L. Hoopes gratefully acknowledges support from the Harold Q. Langenderfer fellowship. Supplemental Material: The data files are available at https://doi.org/10.1287/mnsc.2024.04750 .

  PublisherDOI

Frequent coauthors

• Joel Slemrod

  University of Michigan–Ann Arbor

  72 shared

• Daniel Reck

  31 shared

• Michael Sebastiani

  19 shared

• Brett Collins

  18 shared

• Leslie A. Robinson

  Dartmouth College

  14 shared

• Edward L. Maydew

  University of North Carolina at Chapel Hill

  10 shared

• Jaron H. Wilde

  10 shared

• Scott Dyreng

  Duke University

  10 shared

Education

• PhD, Accounting

  University of Michigan

  2013

Awards & honors

• 2023 Bullard Faculty Research Award