Federal Personal Income Tax (LAW-647-001)
Ventry
Meets: 03:30 PM - 05:20 PM (TTH) - Room 100
Enrolled: 85 / Limit: 95
Notices
There are no notices at this time.
Description
This is the most important class you will take in law school. Taxes touch every aspect of our lives, from cradle to grave, from the dependent exemption to what the ill-informed call the “death” tax. Taxes raise revenue. But they also stimulate and stunt economic growth; redistribute and concentrate wealth; reward and punish families; influence and distort social behavior. Indeed, taxes reflect and reinforce societal norms and values. Thus, while we explore the intricacies of the Internal Revenue Code this semester, we will also be exploring American society, economics, politics, culture, and government.
In particular, this course surveys the federal personal income tax, with consideration of the nature of income, when and to whom income is taxable, exclusions from the tax base, deductions and credits, and the tax consequences of property ownership and disposition. Our objective will be to explore and critically evaluate the concepts and policies underlying the federal income tax, as well as to learn to interpret the statutory provisions by which these concepts and policies are implemented.
Because the federal income tax affects and influences nearly all fields of law, every attorney should be exposed to the basic concepts embodied in the Internal Revenue Code and the accompanying judicial and administrative interpretations. This course is therefore geared to the future general practitioner as well as the future tax and business law specialist. This course is not particularly numbers or math intensive and prior knowledge of accounting is not necessary. There are no prerequisites, although this course is a prerequisite for most other tax courses.
Textbooks and Other Materials
The textbook information on this page was provided by the instructor. Students should use this information when considering purchases from the AU Campus Store or other vendors. Students may check to determine if books are currently available for purchase online.
First Class Readings
Not available at this time.