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Federal Personal Income Tax (LAW-647-001)
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This course introduces the basic principles of income taxation. The fundamental structural issues of income taxation are examined in the wildly diverse contexts that make taxation a unique legal discipline. The principal issues include: (1) the elements and measurement of income; (2) timing issues; and (3) special tax incentive provisions, such as capital gains. Students in the course work extensively with statutory materials and examine tax policy issues from economic, political and administrative perspectives.
Textbooks and Other Materials
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Required Books: Burke and Friel , Taxation of Individual Income , 9th Edition (Casebook) (Lexis/Nexis) Selected Sections: Federal Income Taxation Code and Regulations 2011-2012 Optional: Chirelstein and Zelenick, Federal Income Taxation (12th Edition, Foundation Press, Text)
First Class Readings
Burke and Friel: Concentrate on the problem on page 1 and the analysis of the problem on pp. 8-19 – “Analysis of the Computation of Tax Liability of Tom and Caroline Taxpayer”). Read for background pp. 4-8. NOTE: This problem is intended to provide an overview of the process of calculating a person’s tax liability. Do not worry about many of these details – we will cover these issues over the course of the entire semester. Another NOTE: I have posted two tax forms, Form 1040 and Schedule C to FORM 1040, to the Course Documents portion of the Blackboard site for this course. You may find that these forms help you work through this problem. Then again, you might not.
The syllabus is available in the following format(s):